LISELORE: 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.
LISELORE
Largest movements
- Intangible fixed assets -€19,463
down €19,463 (-36.0%), from €54,017 to €34,554
- Tangible fixed assets +€15,787
up €15,787 (+73.7%), from €21,411 to €37,199
of which Plant, machinery and equipment: +€17,217
- Cash -€6,254
down €6,254 (-19.5%), from €32,020 to €25,766
mainly Contributions, distributions and other (-€31,493) and Investment in fixed assets (net) (-€21,104)
- Receivables within one year -€4,510
down €4,510 (-76.4%), from €5,905 to €1,394
of which Trade receivables: -€2,308
- Reserves -€30,941
down €30,941 (-37.2%), from €83,226 to €52,284
- Debts after one year +€12,771
new in 2025: €12,771
- Tax, wage and social debts -€6,214
down €6,214 (-53.1%), from €11,694 to €5,481
of which Taxes: -€3,166
- Other debts +€4,298
up €4,298, from €0 to €4,298
- Current portion of long-term debt +€3,836
new in 2025: €3,836
- Gross operating margin -€22,675
down €22,675 (-20.3%), from €111,940 to €89,264
- Taxes -€7,612
down €7,612 (-51.7%), from €14,711 to €7,099
- Depreciation +€1,538
up €1,538 (+6.6%), from €23,242 to €24,780
- Other operating charges +€1,271
up €1,271 (+89.9%), from €1,415 to €2,686
- Staff costs -€1,185
down €1,185 (-2.3%), from €52,629 to €51,445
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 | €127,020 | €112,229 | -€14,790 | -11.6% |
| Fixed assets | 21/28 | €80,078 | €76,402 | -€3,676 | -4.6% |
| Intangible fixed assets | 21 | €54,017 | €34,554 | -€19,463 | -36.0% |
| Tangible fixed assets | 22/27 | €21,411 | €37,199 | +€15,787 | +73.7% |
| Plant, machinery and equipment | 23 | €9,036 | €26,253 | +€17,217 | +190.5% |
| Other tangible fixed assets | 26 | €12,375 | €10,945 | -€1,430 | -11.6% |
| Financial fixed assets | 28 | €4,650 | €4,650 | = | 0.0% |
| Current assets | 29/58 | €46,942 | €35,827 | -€11,114 | -23.7% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €4,624 | €5,000 | +€376 | +8.1% |
| Stocks | 30/36 | €4,624 | €5,000 | +€376 | +8.1% |
| Amounts receivable within one year | 40/41 | €5,905 | €1,394 | -€4,510 | -76.4% |
| Trade receivables | 40 | €3,702 | €1,394 | -€2,308 | -62.3% |
| Other amounts receivable | 41 | €2,203 | €0 | -€2,203 | -100.0% |
| Cash at bank and in hand | 54/58 | €32,020 | €25,766 | -€6,254 | -19.5% |
| Deferred charges and accrued income | 490/1 | €4,393 | €3,667 | -€727 | -16.5% |
| Total equity and liabilities | 10/49 | €127,020 | €112,229 | -€14,790 | -11.6% |
| Equity | 10/15 | €101,826 | €70,884 | -€30,941 | -30.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €83,226 | €52,284 | -€30,941 | -37.2% |
| Distributable reserves | 133 | €83,226 | €52,284 | -€30,941 | -37.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €25,194 | €41,345 | +€16,151 | +64.1% |
| Amounts payable after more than one year | 17 | - | €12,771 | +€12,771 | |
| Financial debts | 170/4 | - | €12,771 | +€12,771 | |
| Amounts payable within one year | 42/48 | €25,194 | €28,574 | +€3,380 | +13.4% |
| Current portion of amounts payable after more than one year | 42 | - | €3,836 | +€3,836 | |
| Financial debts | 43 | €6,000 | €6,000 | = | 0.0% |
| Credit institutions | 430/8 | €6,000 | €6,000 | = | 0.0% |
| Trade debts | 44 | €7,500 | €8,960 | +€1,460 | +19.5% |
| Suppliers | 440/4 | €7,500 | €8,960 | +€1,460 | +19.5% |
| Taxes, remuneration and social security | 45 | €11,694 | €5,481 | -€6,214 | -53.1% |
| Taxes | 450/3 | €6,669 | €3,503 | -€3,166 | -47.5% |
| Remuneration and social security | 454/9 | €5,025 | €1,978 | -€3,048 | -60.6% |
| Other amounts payable | 47/48 | €0 | €4,298 | +€4,298 | |
| Non-recurring operating income | 76A | €9,000 | €0 | -€9,000 | -100.0% |
| Remuneration, social security and pensions | 62 | €52,629 | €51,445 | -€1,185 | -2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,242 | €24,780 | +€1,538 | +6.6% |
| Other operating charges | 640/8 | €1,415 | €2,686 | +€1,271 | +89.9% |
| Gross operating margin | 9900 | €111,940 | €89,264 | -€22,675 | -20.3% |
| Operating profit (loss) | 9901 | €34,654 | €10,353 | -€24,300 | -70.1% |
| Financial income | 75/76B | €217 | €243 | +€26 | +12.2% |
| Recurring financial income | 75 | €217 | €243 | +€26 | +12.2% |
| Financial charges | 65/66B | €1,856 | €2,946 | +€1,090 | +58.8% |
| Recurring financial charges | 65 | €1,856 | €2,946 | +€1,090 | +58.8% |
| Profit (loss) for the period before taxes | 9903 | €33,015 | €7,650 | -€25,364 | -76.8% |
| Income taxes | 67/77 | €14,711 | €7,099 | -€7,612 | -51.7% |
| Profit (loss) for the period | 9904 | €18,303 | €551 | -€17,752 | -97.0% |
| Profit (loss) for the period to be appropriated | 9905 | €18,303 | €551 | -€17,752 | -97.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.