LISEMA: 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.
LISEMA
Largest movements
- Financial fixed assets +€138,600
up €138,600 (+138,600%), from €100 to €138,700
- Receivables after one year -€128,531
no longer reported in 2025 (was €128,531)
- Receivables within one year -€70,441
down €70,441 (-76.4%), from €92,142 to €21,701
of which Trade receivables: -€56,348
- Cash -€59,509
down €59,509 (-41.6%), from €142,992 to €83,483
mainly Contributions, distributions and other (-€220,000) and Investment in fixed assets (net) (-€139,674)
- Reserves -€129,620
down €129,620 (-43.8%), from €295,811 to €166,190
- Other debts +€46,159
up €46,159 (+724%), from €6,373 to €52,532
- Trade debts -€34,833
down €34,833 (-92.2%), from €37,765 to €2,931
- Tax, wage and social debts -€4,636
down €4,636 (-37.7%), from €12,294 to €7,658
- Gross operating margin -€8,290
down €8,290 (-6.4%), from €130,046 to €121,756
- Taxes -€3,949
down €3,949 (-13.6%), from €29,034 to €25,085
- Financial charges +€1,972
up €1,972 (+31.1%), from €6,339 to €8,311
- Financial income -€1,911
down €1,911 (-30.0%), from €6,370 to €4,459
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 | €371,216 | €250,777 | -€120,439 | -32.4% |
| Fixed assets | 21/28 | €6,458 | €144,217 | +€137,759 | +2,133% |
| Tangible fixed assets | 22/27 | €6,358 | €5,517 | -€841 | -13.2% |
| Land and buildings | 22 | €3,151 | €2,467 | -€684 | -21.7% |
| Plant, machinery and equipment | 23 | €2,450 | €1,875 | -€575 | -23.5% |
| Furniture and vehicles | 24 | €757 | €1,175 | +€418 | +55.2% |
| Financial fixed assets | 28 | €100 | €138,700 | +€138,600 | +138,600% |
| Current assets | 29/58 | €364,758 | €106,560 | -€258,198 | -70.8% |
| Amounts receivable after more than one year | 29 | €128,531 | - | -€128,531 | |
| Other amounts receivable | 291 | €128,531 | - | -€128,531 | |
| Amounts receivable within one year | 40/41 | €92,142 | €21,701 | -€70,441 | -76.4% |
| Trade receivables | 40 | €78,028 | €21,680 | -€56,348 | -72.2% |
| Other amounts receivable | 41 | €14,114 | €22 | -€14,093 | -99.8% |
| Cash at bank and in hand | 54/58 | €142,992 | €83,483 | -€59,509 | -41.6% |
| Deferred charges and accrued income | 490/1 | €1,093 | €1,376 | +€283 | +25.9% |
| Total equity and liabilities | 10/49 | €371,216 | €250,777 | -€120,439 | -32.4% |
| Equity | 10/15 | €314,411 | €184,790 | -€129,620 | -41.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €295,811 | €166,190 | -€129,620 | -43.8% |
| Distributable reserves | 133 | €295,811 | €166,190 | -€129,620 | -43.8% |
| Amounts payable | 17/49 | €56,805 | €65,987 | +€9,182 | +16.2% |
| Amounts payable within one year | 42/48 | €56,432 | €63,121 | +€6,689 | +11.9% |
| Trade debts | 44 | €37,765 | €2,931 | -€34,833 | -92.2% |
| Suppliers | 440/4 | €37,765 | €2,931 | -€34,833 | -92.2% |
| Taxes, remuneration and social security | 45 | €12,294 | €7,658 | -€4,636 | -37.7% |
| Taxes | 450/3 | €12,294 | €7,658 | -€4,636 | -37.7% |
| Other amounts payable | 47/48 | €6,373 | €52,532 | +€46,159 | +724% |
| Accrued charges and deferred income | 492/3 | €374 | €2,866 | +€2,493 | +667% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,457 | €1,914 | +€458 | +31.4% |
| Other operating charges | 640/8 | €1,074 | €525 | -€549 | -51.1% |
| Gross operating margin | 9900 | €130,046 | €121,756 | -€8,290 | -6.4% |
| Operating profit (loss) | 9901 | €127,515 | €119,317 | -€8,199 | -6.4% |
| Financial income | 75/76B | €6,370 | €4,459 | -€1,911 | -30.0% |
| Recurring financial income | 75 | €6,370 | €4,459 | -€1,911 | -30.0% |
| Financial charges | 65/66B | €6,339 | €8,311 | +€1,972 | +31.1% |
| Recurring financial charges | 65 | €6,339 | €8,311 | +€1,972 | +31.1% |
| Profit (loss) for the period before taxes | 9903 | €127,546 | €115,465 | -€12,081 | -9.5% |
| Income taxes | 67/77 | €29,034 | €25,085 | -€3,949 | -13.6% |
| Profit (loss) for the period | 9904 | €98,512 | €90,380 | -€8,132 | -8.3% |
| Profit (loss) for the period to be appropriated | 9905 | €98,512 | €90,380 | -€8,132 | -8.3% |
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 18 October 2026 via checked.be.