LIRISAD: 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.
LIRISAD
Largest movements
- Tangible fixed assets +€303,451
up €303,451 (+2196.0%), from €13,819 to €317,270
of which Land and buildings: +€306,074
- Receivables after one year -€99,000
no longer reported in 2025 (was €99,000)
- Cash -€37,095
down €37,095 (-42.3%), from €87,632 to €50,537
mainly Investment in fixed assets (net) (-€315,830) and Contributions, distributions and other (-€240,000)
- Intangible fixed assets -€14,000
down €14,000 (-16.1%), from €86,953 to €72,953
- Receivables within one year -€6,378
no longer reported in 2025 (was €6,378)
of which Other amounts receivable: -€3,333
- Debts after one year +€206,104
up €206,104 (+287.0%), from €71,823 to €277,927
- Profit (loss) carried forward -€131,174
down €131,174 (-54.6%), from €240,281 to €109,107
- Other debts +€49,255
up €49,255 (+377.6%), from €13,043 to €62,298
- Current portion of long-term debt +€22,740
up €22,740 (+177.3%), from €12,823 to €35,562
- Gross operating margin +€49,738
up €49,738 (+41.0%), from €121,458 to €171,196
- Taxes +€10,416
up €10,416 (+53.0%), from €19,667 to €30,082
- Financial charges +€5,358
up €5,358 (+338.4%), from €1,583 to €6,941
- Depreciation +€1,919
up €1,919 (+7.8%), from €24,460 to €26,379
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 | €342,314 | €492,797 | +€150,484 | +44.0% |
| Fixed assets | 21/28 | €100,848 | €390,299 | +€289,451 | +287.0% |
| Intangible fixed assets | 21 | €86,953 | €72,953 | -€14,000 | -16.1% |
| Tangible fixed assets | 22/27 | €13,819 | €317,270 | +€303,451 | +2196.0% |
| Land and buildings | 22 | - | €306,074 | +€306,074 | |
| Plant, machinery and equipment | 23 | €2,016 | €1,070 | -€946 | -46.9% |
| Furniture and vehicles | 24 | €9,939 | €8,497 | -€1,443 | -14.5% |
| Other tangible fixed assets | 26 | €1,863 | €1,629 | -€234 | -12.6% |
| Financial fixed assets | 28 | €76 | €76 | = | 0.0% |
| Current assets | 29/58 | €241,465 | €102,498 | -€138,968 | -57.6% |
| Amounts receivable after more than one year | 29 | €99,000 | - | -€99,000 | |
| Other amounts receivable | 291 | €99,000 | - | -€99,000 | |
| Amounts receivable within one year | 40/41 | €6,378 | - | -€6,378 | |
| Trade receivables | 40 | €3,045 | - | -€3,045 | |
| Other amounts receivable | 41 | €3,333 | - | -€3,333 | |
| Cash at bank and in hand | 54/58 | €87,632 | €50,537 | -€37,095 | -42.3% |
| Deferred charges and accrued income | 490/1 | €48,455 | €51,961 | +€3,506 | +7.2% |
| Total equity and liabilities | 10/49 | €342,314 | €492,797 | +€150,484 | +44.0% |
| Equity | 10/15 | €243,281 | €112,107 | -€131,174 | -53.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €240,281 | €109,107 | -€131,174 | -54.6% |
| Amounts payable | 17/49 | €99,033 | €380,690 | +€281,657 | +284.4% |
| Amounts payable after more than one year | 17 | €71,823 | €277,927 | +€206,104 | +287.0% |
| Financial debts | 170/4 | €71,823 | €277,927 | +€206,104 | +287.0% |
| Amounts payable within one year | 42/48 | €27,210 | €102,763 | +€75,553 | +277.7% |
| Current portion of amounts payable after more than one year | 42 | €12,823 | €35,562 | +€22,740 | +177.3% |
| Trade debts | 44 | €1,344 | €4,821 | +€3,477 | +258.6% |
| Suppliers | 440/4 | €1,344 | €4,821 | +€3,477 | +258.6% |
| Taxes, remuneration and social security | 45 | - | €82 | +€82 | |
| Taxes | 450/3 | - | €82 | +€82 | |
| Other amounts payable | 47/48 | €13,043 | €62,298 | +€49,255 | +377.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,460 | €26,379 | +€1,919 | +7.8% |
| Other operating charges | 640/8 | €531 | €522 | -€8 | -1.6% |
| Gross operating margin | 9900 | €121,458 | €171,196 | +€49,738 | +41.0% |
| Operating profit (loss) | 9901 | €96,467 | €144,295 | +€47,827 | +49.6% |
| Financial income | 75/76B | €1,055 | €1,554 | +€500 | +47.4% |
| Recurring financial income | 75 | €1,055 | €1,554 | +€500 | +47.4% |
| Financial charges | 65/66B | €1,583 | €6,941 | +€5,358 | +338.4% |
| Recurring financial charges | 65 | €1,583 | €6,941 | +€5,358 | +338.4% |
| Profit (loss) for the period before taxes | 9903 | €95,939 | €138,908 | +€42,969 | +44.8% |
| Income taxes | 67/77 | €19,667 | €30,082 | +€10,416 | +53.0% |
| Profit (loss) for the period | 9904 | €76,272 | €108,826 | +€32,554 | +42.7% |
| Profit (loss) for the period to be appropriated | 9905 | €76,272 | €108,826 | +€32,554 | +42.7% |
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 29 September 2026 via checked.be.