Lireina: what changed
Two fiscal 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.
Lireina
Largest movements
- Stocks and contracts +€92,244
up €92,244 (+113.7%), from €81,164 to €173,407
- Tangible fixed assets +€86,387
up €86,387 (+129.5%), from €66,708 to €153,095
of which Other tangible fixed assets: +€65,508
- Cash -€47,390
down €47,390 (-55.9%), from €84,796 to €37,406
mainly Investment in fixed assets (net) (-€111,657) and Stocks and contracts (-€92,244)
- Deferred charges and accrued income +€4,856
up €4,856 (+129.6%), from €3,748 to €8,603
- Debts after one year +€82,206
up €82,206 (+179.0%), from €45,922 to €128,128
- Tax, wage and social debts +€37,068
up €37,068 (+80.5%), from €46,074 to €83,143
of which Remuneration and social security: +€29,070
- Trade debts +€24,716
up €24,716 (+69.6%), from €35,513 to €60,229
- Reserves -€14,996
down €14,996 (-28.0%), from €53,488 to €38,492
- Current portion of long-term debt +€8,805
up €8,805 (+50.0%), from €17,602 to €26,408
- Staff costs +€88,084
up €88,084 (+128.9%), from €68,357 to €156,440
- Gross operating margin +€25,284
up €25,284 (+16.1%), from €156,796 to €182,080
- Taxes -€11,268
down €11,268 (-98.8%), from €11,400 to €132
- Depreciation +€8,130
up €8,130 (+45.0%), from €18,059 to €26,189
- Financial charges +€6,054
up €6,054 (+86.8%), from €6,971 to €13,025
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.
Cash bridge derived
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 | €243,635 | €382,311 | +€138,677 | +56.9% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €73,343 | €158,812 | +€85,468 | +116.5% |
| Intangible fixed assets | 21 | €3,635 | €2,717 | -€918 | -25.3% |
| Tangible fixed assets | 22/27 | €66,708 | €153,095 | +€86,387 | +129.5% |
| Plant, machinery and equipment | 23 | - | €21,483 | +€21,483 | |
| Furniture and vehicles | 24 | €6,536 | €5,932 | -€604 | -9.2% |
| Other tangible fixed assets | 26 | €60,172 | €125,680 | +€65,508 | +108.9% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €170,291 | €223,500 | +€53,208 | +31.2% |
| Stocks and contracts in progress | 3 | €81,164 | €173,407 | +€92,244 | +113.7% |
| Stocks | 30/36 | €81,164 | €173,407 | +€92,244 | +113.7% |
| Amounts receivable within one year | 40/41 | €584 | €4,083 | +€3,499 | +599.5% |
| Trade receivables | 40 | €558 | €4,083 | +€3,525 | +631.8% |
| Other amounts receivable | 41 | €26 | €0 | -€26 | -100.0% |
| Cash at bank and in hand | 54/58 | €84,796 | €37,406 | -€47,390 | -55.9% |
| Deferred charges and accrued income | 490/1 | €3,748 | €8,603 | +€4,856 | +129.6% |
| Total equity and liabilities | 10/49 | €243,635 | €382,311 | +€138,677 | +56.9% |
| Equity | 10/15 | €54,488 | €39,492 | -€14,996 | -27.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €53,488 | €38,492 | -€14,996 | -28.0% |
| Distributable reserves | 133 | €53,488 | €38,492 | -€14,996 | -28.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €189,147 | €342,819 | +€153,673 | +81.2% |
| Amounts payable after more than one year | 17 | €45,922 | €128,128 | +€82,206 | +179.0% |
| Financial debts | 170/4 | €45,922 | €128,128 | +€82,206 | +179.0% |
| Amounts payable within one year | 42/48 | €143,225 | €214,692 | +€71,467 | +49.9% |
| Current portion of amounts payable after more than one year | 42 | €17,602 | €26,408 | +€8,805 | +50.0% |
| Financial debts | 43 | - | €2,171 | +€2,171 | |
| Credit institutions | 430/8 | - | €2,171 | +€2,171 | |
| Trade debts | 44 | €35,513 | €60,229 | +€24,716 | +69.6% |
| Suppliers | 440/4 | €35,513 | €60,229 | +€24,716 | +69.6% |
| Taxes, remuneration and social security | 45 | €46,074 | €83,143 | +€37,068 | +80.5% |
| Taxes | 450/3 | €39,611 | €47,609 | +€7,998 | +20.2% |
| Remuneration and social security | 454/9 | €6,464 | €35,534 | +€29,070 | +449.8% |
| Other amounts payable | 47/48 | €44,035 | €42,742 | -€1,293 | -2.9% |
| Remuneration, social security and pensions | 62 | €68,357 | €156,440 | +€88,084 | +128.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,059 | €26,189 | +€8,130 | +45.0% |
| Other operating charges | 640/8 | €1,165 | €2,742 | +€1,576 | +135.3% |
| Gross operating margin | 9900 | €156,796 | €182,080 | +€25,284 | +16.1% |
| Operating profit (loss) | 9901 | €69,215 | -€3,291 | -€72,507 | |
| Financial income | 75/76B | €1,885 | €1,452 | -€433 | -23.0% |
| Recurring financial income | 75 | €1,885 | €1,452 | -€433 | -23.0% |
| Financial charges | 65/66B | €6,971 | €13,025 | +€6,054 | +86.8% |
| Recurring financial charges | 65 | €6,971 | €13,025 | +€6,054 | +86.8% |
| Profit (loss) for the period before taxes | 9903 | €64,130 | -€14,864 | -€78,994 | |
| Income taxes | 67/77 | €11,400 | €132 | -€11,268 | -98.8% |
| Profit (loss) for the period | 9904 | €52,730 | -€14,996 | -€67,726 | |
| Profit (loss) for the period to be appropriated | 9905 | €52,730 | -€14,996 | -€67,726 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.