LIPS EV: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
LIPS EV
Largest movements
- Receivables within one year +€29,863
up €29,863 (+14.2%), from €210,644 to €240,507
of which Other amounts receivable: +€31,505
- Tangible fixed assets -€25,569
down €25,569 (-6.1%), from €418,623 to €393,054
of which Plant, machinery and equipment: -€29,879
- Cash +€12,825
up €12,825 (+13.6%), from €94,187 to €107,012
mainly Depreciation (+€68,822) and Trade debts (+€35,124)
- Stocks and contracts -€10,469
down €10,469 (-9.1%), from €115,041 to €104,572
- Reserves +€75,482
up €75,482 (+51.3%), from €147,246 to €222,728
- Profit (loss) carried forward -€58,856
down €58,856 (-100%), from €58,856 to €0
- Trade debts +€35,124
up €35,124 (+47.1%), from €74,626 to €109,750
- Debts after one year -€21,656
down €21,656 (-53.1%), from €40,796 to €19,141
- Current portion of long-term debt -€18,367
down €18,367 (-20.0%), from €91,819 to €73,452
- Gross operating margin -€11,789
down €11,789 (-4.2%), from €279,448 to €267,659
- Staff costs +€10,886
up €10,886 (+7.6%), from €143,363 to €154,249
- Taxes -€9,940
down €9,940 (-53.7%), from €18,506 to €8,567
- Financial charges +€7,266
up €7,266 (+38.8%), from €18,705 to €25,971
- Depreciation +€6,253
up €6,253 (+10.0%), from €62,570 to €68,822
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €845,398 | €854,988 | +€9,590 | +1.1% |
| Fixed assets | 21/28 | €422,323 | €396,754 | -€25,569 | -6.1% |
| Tangible fixed assets | 22/27 | €418,623 | €393,054 | -€25,569 | -6.1% |
| Land and buildings | 22 | €333,863 | €312,898 | -€20,966 | -6.3% |
| Plant, machinery and equipment | 23 | €74,226 | €44,347 | -€29,879 | -40.3% |
| Furniture and vehicles | 24 | €10,533 | €35,810 | +€25,276 | +240% |
| Financial fixed assets | 28 | €3,700 | €3,700 | = | 0.0% |
| Current assets | 29/58 | €423,075 | €458,234 | +€35,159 | +8.3% |
| Stocks and contracts in progress | 3 | €115,041 | €104,572 | -€10,469 | -9.1% |
| Stocks | 30/36 | €115,041 | €104,572 | -€10,469 | -9.1% |
| Amounts receivable within one year | 40/41 | €210,644 | €240,507 | +€29,863 | +14.2% |
| Trade receivables | 40 | €2,760 | €1,118 | -€1,642 | -59.5% |
| Other amounts receivable | 41 | €207,884 | €239,389 | +€31,505 | +15.2% |
| Cash at bank and in hand | 54/58 | €94,187 | €107,012 | +€12,825 | +13.6% |
| Deferred charges and accrued income | 490/1 | €3,203 | €6,143 | +€2,940 | +91.8% |
| Total equity and liabilities | 10/49 | €845,398 | €854,988 | +€9,590 | +1.1% |
| Equity | 10/15 | €599,702 | €616,328 | +€16,626 | +2.8% |
| Contributions | 10/11 | €393,600 | €393,600 | = | 0.0% |
| Reserves | 13 | €147,246 | €222,728 | +€75,482 | +51.3% |
| Distributable reserves | 133 | €147,246 | €222,728 | +€75,482 | +51.3% |
| Profit (loss) carried forward | 14 | €58,856 | €0 | -€58,856 | -100% |
| Amounts payable | 17/49 | €245,696 | €238,660 | -€7,036 | -2.9% |
| Amounts payable after more than one year | 17 | €40,796 | €19,141 | -€21,656 | -53.1% |
| Financial debts | 170/4 | €40,796 | €19,141 | -€21,656 | -53.1% |
| Amounts payable within one year | 42/48 | €204,900 | €219,519 | +€14,619 | +7.1% |
| Current portion of amounts payable after more than one year | 42 | €91,819 | €73,452 | -€18,367 | -20.0% |
| Financial debts | 43 | €0 | - | = | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €74,626 | €109,750 | +€35,124 | +47.1% |
| Suppliers | 440/4 | €74,626 | €109,750 | +€35,124 | +47.1% |
| Taxes, remuneration and social security | 45 | €32,340 | €30,563 | -€1,778 | -5.5% |
| Taxes | 450/3 | €6,159 | €6,104 | -€55 | -0.9% |
| Remuneration and social security | 454/9 | €26,181 | €24,459 | -€1,722 | -6.6% |
| Other amounts payable | 47/48 | €6,115 | €5,755 | -€360 | -5.9% |
| Remuneration, social security and pensions | 62 | €143,363 | €154,249 | +€10,886 | +7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,570 | €68,822 | +€6,253 | +10.0% |
| Other operating charges | 640/8 | €5,032 | €5,167 | +€136 | +2.7% |
| Gross operating margin | 9900 | €279,448 | €267,659 | -€11,789 | -4.2% |
| Operating profit (loss) | 9901 | €68,484 | €39,421 | -€29,063 | -42.4% |
| Financial income | 75/76B | €11,344 | €11,743 | +€399 | +3.5% |
| Recurring financial income | 75 | €11,344 | €11,743 | +€399 | +3.5% |
| Financial charges | 65/66B | €18,705 | €25,971 | +€7,266 | +38.8% |
| Recurring financial charges | 65 | €18,705 | €25,971 | +€7,266 | +38.8% |
| Profit (loss) for the period before taxes | 9903 | €61,123 | €25,193 | -€35,930 | -58.8% |
| Income taxes | 67/77 | €18,506 | €8,567 | -€9,940 | -53.7% |
| Profit (loss) for the period | 9904 | €42,616 | €16,626 | -€25,990 | -61.0% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €42,616 | €16,626 | -€25,990 | -61.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.