LISA: 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.
LISA
Largest movements
- Deferred charges and accrued income -€38,533
no longer reported in 2025 (was €38,533)
- Receivables within one year -€7,818
down €7,818 (-39.2%), from €19,965 to €12,147
- Cash -€4,668
down €4,668 (-72.8%), from €6,410 to €1,742
mainly Other debts (-€38,305) and Debts after one year (-€16,380)
- Tangible fixed assets +€2,944
up €2,944 (+2.6%), from €113,084 to €116,028
of which Plant, machinery and equipment: +€2,944
- Other debts -€38,305
down €38,305 (-46.1%), from €83,180 to €44,875
- Debts after one year -€16,380
down €16,380 (-23.3%), from €70,184 to €53,804
- Profit (loss) carried forward +€12,148
up €12,148 (+8.3%), from -€146,035 to -€133,887
- Tax, wage and social debts -€6,129
no longer reported in 2025 (was €6,129)
- Depreciation -€31,646
down €31,646 (-97.0%), from €32,609 to €963
- Staff costs +€5,329
up €5,329 (+9.1%), from €58,780 to €64,110
- Gross operating margin +€3,480
up €3,480 (+4.4%), from €78,206 to €81,686
- Financial charges +€1,257
new in 2025: €1,257
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 | €200,160 | €152,085 | -€48,075 | -24.0% |
| Fixed assets | 21/28 | €113,084 | €116,028 | +€2,944 | +2.6% |
| Tangible fixed assets | 22/27 | €113,084 | €116,028 | +€2,944 | +2.6% |
| Land and buildings | 22 | €113,084 | €113,084 | = | 0.0% |
| Plant, machinery and equipment | 23 | - | €2,944 | +€2,944 | |
| Current assets | 29/58 | €87,076 | €36,056 | -€51,020 | -58.6% |
| Stocks and contracts in progress | 3 | €22,168 | €22,168 | = | 0.0% |
| Stocks | 30/36 | €22,168 | €22,168 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €19,965 | €12,147 | -€7,818 | -39.2% |
| Trade receivables | 40 | €19,965 | €12,147 | -€7,818 | -39.2% |
| Cash at bank and in hand | 54/58 | €6,410 | €1,742 | -€4,668 | -72.8% |
| Deferred charges and accrued income | 490/1 | €38,533 | - | -€38,533 | |
| Total equity and liabilities | 10/49 | €200,160 | €152,085 | -€48,075 | -24.0% |
| Equity | 10/15 | €23,969 | €36,116 | +€12,148 | +50.7% |
| Contributions | 10/11 | €148,736 | €148,736 | = | 0.0% |
| Capital | 10 | €148,736 | €148,736 | = | 0.0% |
| Issued capital | 100 | €148,736 | €148,736 | = | 0.0% |
| Reserves | 13 | €21,268 | €21,268 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,510 | €13,510 | = | 0.0% |
| Legal reserve | 130 | €408 | €408 | = | 0.0% |
| Other | 1319 | €13,102 | €13,102 | = | 0.0% |
| Distributable reserves | 133 | €7,757 | €7,757 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€146,035 | -€133,887 | +€12,148 | +8.3% |
| Amounts payable | 17/49 | €176,191 | €115,968 | -€60,223 | -34.2% |
| Amounts payable after more than one year | 17 | €70,184 | €53,804 | -€16,380 | -23.3% |
| Financial debts | 170/4 | €70,184 | €53,804 | -€16,380 | -23.3% |
| Amounts payable within one year | 42/48 | €106,007 | €62,165 | -€43,843 | -41.4% |
| Current portion of amounts payable after more than one year | 42 | €16,380 | €16,380 | = | 0.0% |
| Trade debts | 44 | €318 | €909 | +€591 | +186% |
| Suppliers | 440/4 | €318 | €909 | +€591 | +186% |
| Taxes, remuneration and social security | 45 | €6,129 | - | -€6,129 | |
| Taxes | 450/3 | €6,129 | - | -€6,129 | |
| Other amounts payable | 47/48 | €83,180 | €44,875 | -€38,305 | -46.1% |
| Remuneration, social security and pensions | 62 | €58,780 | €64,110 | +€5,329 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,609 | €963 | -€31,646 | -97.0% |
| Other operating charges | 640/8 | €3,552 | €3,208 | -€344 | -9.7% |
| Gross operating margin | 9900 | €78,206 | €81,686 | +€3,480 | +4.4% |
| Operating profit (loss) | 9901 | -€16,735 | €13,404 | +€30,139 | |
| Financial charges | 65/66B | - | €1,257 | +€1,257 | |
| Recurring financial charges | 65 | - | €1,257 | +€1,257 | |
| Profit (loss) for the period before taxes | 9903 | -€16,735 | €12,148 | +€28,883 | |
| Profit (loss) for the period | 9904 | -€16,735 | €12,148 | +€28,883 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,735 | €12,148 | +€28,883 |
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 17 October 2026 via checked.be.