Liquid Technologies Infrastructure Finance: what changed
Liquid Technologies Infrastructure Finance
Largest movements
- Receivables within one year +€8.2m
up €8.2m (+88.7%), from €9.2m to €17.4m
of which Trade receivables: +€7.7m
- Cash -€3.2m
down €3.2m (-70.4%), from €4.6m to €1.4m
mainly Receivables within one year (-€8.2m) and Investment in fixed assets (net) (-€1.8m)
- Debts after one year +€3.3m
up €3.3m (+6.3%), from €51.9m to €55.2m
- Profit (loss) carried forward +€1.6m
up €1.6m (+74.2%), from -€2.2m to -€558,784
- Accrued charges and deferred income -€1.5m
down €1.5m (-75.7%), from €2.0m to €494,166
- Other debts +€583,855
up €583,855 (+30.3%), from €1.9m to €2.5m
- Gross operating margin +€968,139
up €968,139 (+15.6%), from €6.2m to €7.2m
- Taxes +€472,594
new in 2025: €472,594
- Financial charges -€290,466
down €290,466 (-8.3%), from €3.5m to €3.2m
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €53,769,829 | €58,247,996 | +€4.5m | +8.3% |
| Fixed assets | 21/28 | €39,964,019 | €39,522,333 | -€441,687 | -1.1% |
| Tangible fixed assets | 22/27 | €39,964,019 | €39,522,333 | -€441,687 | -1.1% |
| Plant, machinery and equipment | 23 | €39,964,019 | €39,522,333 | -€441,687 | -1.1% |
| Current assets | 29/58 | €13,805,809 | €18,725,663 | +€4.9m | +35.6% |
| Amounts receivable within one year | 40/41 | €9,201,198 | €17,360,917 | +€8.2m | +88.7% |
| Trade receivables | 40 | €4,876,249 | €12,531,871 | +€7.7m | +157% |
| Other amounts receivable | 41 | €4,324,949 | €4,829,046 | +€504,098 | +11.7% |
| Cash at bank and in hand | 54/58 | €4,604,612 | €1,364,746 | -€3.2m | -70.4% |
| Total equity and liabilities | 10/49 | €53,769,829 | €58,247,996 | +€4.5m | +8.3% |
| Equity | 10/15 | -€2,161,709 | -€558,684 | +€1.6m | +74.2% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,161,809 | -€558,784 | +€1.6m | +74.2% |
| Amounts payable | 17/49 | €55,931,538 | €58,806,680 | +€2.9m | +5.1% |
| Amounts payable after more than one year | 17 | €51,926,597 | €55,214,390 | +€3.3m | +6.3% |
| Other amounts payable | 178/9 | €51,926,597 | €55,214,390 | +€3.3m | +6.3% |
| Amounts payable within one year | 42/48 | €1,974,458 | €3,098,123 | +€1.1m | +56.9% |
| Trade debts | 44 | €45,582 | €101,481 | +€55,899 | +123% |
| Suppliers | 440/4 | €45,582 | €101,481 | +€55,899 | +123% |
| Taxes, remuneration and social security | 45 | - | €483,912 | +€483,912 | |
| Taxes | 450/3 | - | €483,912 | +€483,912 | |
| Other amounts payable | 47/48 | €1,928,876 | €2,512,730 | +€583,855 | +30.3% |
| Accrued charges and deferred income | 492/3 | €2,030,483 | €494,166 | -€1.5m | -75.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,176,313 | €2,225,108 | +€48,795 | +2.2% |
| Gross operating margin | 9900 | €6,212,658 | €7,180,797 | +€968,139 | +15.6% |
| Operating profit (loss) | 9901 | €4,036,346 | €4,955,689 | +€919,344 | +22.8% |
| Financial income | 75/76B | €328,104 | €326,123 | -€1,981 | -0.6% |
| Recurring financial income | 75 | €328,104 | €326,123 | -€1,981 | -0.6% |
| Financial charges | 65/66B | €3,496,659 | €3,206,193 | -€290,466 | -8.3% |
| Recurring financial charges | 65 | €3,496,659 | €3,206,193 | -€290,466 | -8.3% |
| Profit (loss) for the period before taxes | 9903 | €867,791 | €2,075,620 | +€1.2m | +139% |
| Income taxes | 67/77 | - | €472,594 | +€472,594 | |
| Profit (loss) for the period | 9904 | €867,791 | €1,603,025 | +€735,234 | +84.7% |
| Profit (loss) for the period to be appropriated | 9905 | €867,791 | €1,603,025 | +€735,234 | +84.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 29 February 2024 and 28 February 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.