LIQUID-ART: 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.
What changed
LIQUID-ART
NACE 43.350, Other building finishing work
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€566
2024 · -€10,847+€10,280
Equity
€34,664
2024 · €47,130-€12,466
Cash
€3,981
2024 · €3,954+€27
Balance sheet total
€82,175
2024 · €82,845-€670
Largest movements
Assets
- Stocks and contracts -€3,980
down €3,980 (-33.2%), from €12,000 to €8,020
- Deferred charges and accrued income +€3,329
up €3,329 (+357%), from €933 to €4,263
Equity and liabilities
- Reserves -€11,900
down €11,900 (-19.7%), from €60,528 to €48,628
of which Distributable reserves: -€11,900
- Short-term financial debts +€7,510
up €7,510 (+101%), from €7,448 to €14,958
- Trade debts +€6,703
up €6,703 (+65.1%), from €10,300 to €17,003
- Other debts +€5,200
new in 2025: €5,200
- Current portion of long-term debt -€5,105
down €5,105 (-67.1%), from €7,605 to €2,500
Income statement
- Gross operating margin +€9,002
up €9,002, from -€887 to €8,116
- Financial income +€743
new in 2025: €743
- Other operating charges -€493
down €493 (-44.0%), from €1,120 to €628
- Financial charges -€131
down €131 (-9.5%), from €1,385 to €1,254
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.
Result 2024
-€10,847
Gross operating margin
+€9,002
Depreciation
-€76
Other operating charges
+€493
Financial income
+€743
Financial charges
+€131
Taxes
-€12
Result 2025
-€566
raises the resultlowers the result
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.
From operations
+€19,522
Investment
-€7,500
Financing
-€11,995
Cash 2024
€3,954
From operations (derived)
+€19,522
Net result for the year
-€566
Depreciation
+€7,402
Stocks and contracts
+€3,980
Receivables within one year
+€144
Deferred charges and accrued income
-€3,329
Trade debts
+€6,703
Tax, wage and social debts
-€4,708
Advances received
+€4,169
Other debts
+€5,200
Accrued charges and deferred income
+€528
Investment (derived)
-€7,500
Investment in fixed assets (net)
-€7,500
Financing
-€11,995
Debts after one year
-€2,500
Current portion of long-term debt
-€5,105
Short-term financial debts
+€7,510
Contributions, distributions and other
-€11,900
Cash 2025
€3,981
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €82,845 | €82,175 | -€670 | -0.8% |
| Fixed assets | 21/28 | €12,070 | €12,168 | +€98 | +0.8% |
| Tangible fixed assets | 22/27 | €10,223 | €10,321 | +€98 | +1.0% |
| Plant, machinery and equipment | 23 | €2,339 | €1,031 | -€1,308 | -55.9% |
| Furniture and vehicles | 24 | €7,884 | €9,290 | +€1,405 | +17.8% |
| Financial fixed assets | 28 | €1,847 | €1,847 | = | 0.0% |
| Current assets | 29/58 | €70,775 | €70,008 | -€768 | -1.1% |
| Stocks and contracts in progress | 3 | €12,000 | €8,020 | -€3,980 | -33.2% |
| Contracts in progress | 37 | €12,000 | €8,020 | -€3,980 | -33.2% |
| Amounts receivable within one year | 40/41 | €53,888 | €53,744 | -€144 | -0.3% |
| Trade receivables | 40 | €37,579 | €46,310 | +€8,731 | +23.2% |
| Other amounts receivable | 41 | €16,309 | €7,435 | -€8,875 | -54.4% |
| Cash at bank and in hand | 54/58 | €3,954 | €3,981 | +€27 | +0.7% |
| Deferred charges and accrued income | 490/1 | €933 | €4,263 | +€3,329 | +357% |
| Total equity and liabilities | 10/49 | €82,845 | €82,175 | -€670 | -0.8% |
| Equity | 10/15 | €47,130 | €34,664 | -€12,466 | -26.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €60,528 | €48,628 | -€11,900 | -19.7% |
| Non-distributable reserves | 130/1 | €1,240 | €1,240 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,240 | €1,240 | = | 0.0% |
| Distributable reserves | 133 | €59,288 | €47,388 | -€11,900 | -20.1% |
| Profit (loss) carried forward | 14 | -€25,797 | -€26,364 | -€566 | -2.2% |
| Amounts payable | 17/49 | €35,715 | €47,511 | +€11,796 | +33.0% |
| Amounts payable after more than one year | 17 | €2,500 | - | -€2,500 | |
| Financial debts | 170/4 | €2,500 | - | -€2,500 | |
| Amounts payable within one year | 42/48 | €33,215 | €46,984 | +€13,768 | +41.5% |
| Current portion of amounts payable after more than one year | 42 | €7,605 | €2,500 | -€5,105 | -67.1% |
| Financial debts | 43 | €7,448 | €14,958 | +€7,510 | +101% |
| Credit institutions | 430/8 | €7,448 | €14,958 | +€7,510 | +101% |
| Trade debts | 44 | €10,300 | €17,003 | +€6,703 | +65.1% |
| Suppliers | 440/4 | €10,300 | €17,003 | +€6,703 | +65.1% |
| Advances received on contracts in progress | 46 | - | €4,169 | +€4,169 | |
| Taxes, remuneration and social security | 45 | €7,862 | €3,154 | -€4,708 | -59.9% |
| Taxes | 450/3 | €7,862 | €2,279 | -€5,583 | -71.0% |
| Remuneration and social security | 454/9 | - | €875 | +€875 | |
| Other amounts payable | 47/48 | - | €5,200 | +€5,200 | |
| Accrued charges and deferred income | 492/3 | - | €528 | +€528 | |
| Non-recurring operating income | 76A | €2,681 | - | -€2,681 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,326 | €7,402 | +€76 | +1.0% |
| Other operating charges | 640/8 | €1,120 | €628 | -€493 | -44.0% |
| Gross operating margin | 9900 | -€887 | €8,116 | +€9,002 | |
| Operating profit (loss) | 9901 | -€9,333 | €85 | +€9,419 | |
| Financial income | 75/76B | - | €743 | +€743 | |
| Recurring financial income | 75 | - | €743 | +€743 | |
| Financial charges | 65/66B | €1,385 | €1,254 | -€131 | -9.5% |
| Recurring financial charges | 65 | €1,385 | €1,254 | -€131 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | -€10,719 | -€426 | +€10,292 | +96.0% |
| Income taxes | 67/77 | €128 | €140 | +€12 | +9.5% |
| Profit (loss) for the period | 9904 | -€10,847 | -€566 | +€10,280 | +94.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,847 | -€566 | +€10,280 | +94.8% |
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 27 October 2026 via checked.be.