Liverco: 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.
What changed
Liverco
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€51,082
2024 · €209,795-€158,713
Equity
€1.5m
2024 · €1.4m+€51,082
Cash
€136,320
2024 · €104,904+€31,416
Balance sheet total
€3.1m
2024 · €3.1m-€27,336
Largest movements
Assets
- Tangible fixed assets -€55,878
down €55,878 (-1.9%), from €3.0m to €2.9m
- Cash +€31,416
up €31,416 (+29.9%), from €104,904 to €136,320
mainly Depreciation (+€55,878) and Net result for the year (+€51,082)
Equity and liabilities
- Profit (loss) carried forward +€98,370
no longer reported in 2025 (was -€98,370)
- Provisions -€71,935
down €71,935 (-88.6%), from €81,152 to €9,217
- Reserves -€47,288
down €47,288 (-18.0%), from €262,660 to €215,372
of which Tax-exempt reserves: -€215,805
Income statement
- Gross operating margin -€246,137
down €246,137 (-69.3%), from €355,004 to €108,867
- Taxes +€53,258
up €53,258 (+5273095.0%), from €1 to €53,259
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.
Result 2024
€209,795
Gross operating margin
-€246,137
Depreciation
-€424
Other operating charges
-€130
Financial income
-€1,333
Financial charges
+€1,277
Taxes
-€53,258
Deferred taxes and other
+€141,291
Result 2025
€51,082
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.
From operations
+€57,841
Investment
€0
Financing
-€26,425
Cash 2024
€104,904
From operations (derived)
+€57,841
Net result for the year
+€51,082
Depreciation
+€55,878
Receivables within one year
+€1,234
Deferred charges and accrued income
+€1,640
Provisions
-€71,935
Trade debts
+€1,364
Tax, wage and social debts
+€18,470
Other debts
+€1,361
Accrued charges and deferred income
-€1,253
Financing
-€26,425
Debts after one year
-€27,586
Current portion of long-term debt
+€1,161
Cash 2025
€136,320
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,100,148 | €3,072,812 | -€27,336 | -0.9% |
| Fixed assets | 21/28 | €2,985,980 | €2,930,102 | -€55,878 | -1.9% |
| Tangible fixed assets | 22/27 | €2,985,980 | €2,930,102 | -€55,878 | -1.9% |
| Land and buildings | 22 | €2,985,980 | €2,930,102 | -€55,878 | -1.9% |
| Current assets | 29/58 | €114,169 | €142,711 | +€28,542 | +25.0% |
| Amounts receivable within one year | 40/41 | €2,963 | €1,729 | -€1,234 | -41.7% |
| Trade receivables | 40 | €1,377 | €917 | -€460 | -33.4% |
| Other amounts receivable | 41 | €1,586 | €812 | -€774 | -48.8% |
| Cash at bank and in hand | 54/58 | €104,904 | €136,320 | +€31,416 | +29.9% |
| Deferred charges and accrued income | 490/1 | €6,302 | €4,662 | -€1,640 | -26.0% |
| Total equity and liabilities | 10/49 | €3,100,148 | €3,072,812 | -€27,336 | -0.9% |
| Equity | 10/15 | €1,402,936 | €1,454,018 | +€51,082 | +3.6% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Revaluation surpluses | 12 | €638,646 | €638,646 | = | 0.0% |
| Reserves | 13 | €262,660 | €215,372 | -€47,288 | -18.0% |
| Tax-exempt reserves | 132 | €243,456 | €27,651 | -€215,805 | -88.6% |
| Distributable reserves | 133 | €19,205 | €187,721 | +€168,517 | +877.5% |
| Profit (loss) carried forward | 14 | -€98,370 | - | +€98,370 | |
| Provisions and deferred taxes | 16 | €81,152 | €9,217 | -€71,935 | -88.6% |
| Deferred taxes | 168 | €81,152 | €9,217 | -€71,935 | -88.6% |
| Amounts payable | 17/49 | €1,616,061 | €1,609,578 | -€6,483 | -0.4% |
| Amounts payable after more than one year | 17 | €134,037 | €106,451 | -€27,586 | -20.6% |
| Financial debts | 170/4 | €134,037 | €106,451 | -€27,586 | -20.6% |
| Amounts payable within one year | 42/48 | €1,478,766 | €1,501,122 | +€22,356 | +1.5% |
| Current portion of amounts payable after more than one year | 42 | €26,425 | €27,586 | +€1,161 | +4.4% |
| Trade debts | 44 | €725 | €2,089 | +€1,364 | +188.3% |
| Suppliers | 440/4 | €725 | €2,089 | +€1,364 | +188.3% |
| Taxes, remuneration and social security | 45 | €2,000 | €20,470 | +€18,470 | +923.5% |
| Taxes | 450/3 | - | €19,470 | +€19,470 | |
| Remuneration and social security | 454/9 | €2,000 | €1,000 | -€1,000 | -50.0% |
| Other amounts payable | 47/48 | €1,449,617 | €1,450,978 | +€1,361 | +0.1% |
| Accrued charges and deferred income | 492/3 | €3,258 | €2,005 | -€1,253 | -38.5% |
| Non-recurring operating income | 76A | €282,581 | €127 | -€282,454 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,454 | €55,878 | +€424 | +0.8% |
| Other operating charges | 640/8 | €15,036 | €15,166 | +€130 | +0.9% |
| Gross operating margin | 9900 | €355,004 | €108,867 | -€246,137 | -69.3% |
| Operating profit (loss) | 9901 | €284,514 | €37,823 | -€246,690 | -86.7% |
| Financial income | 75/76B | €2,356 | €1,023 | -€1,333 | -56.6% |
| Recurring financial income | 75 | €2,356 | €1,023 | -€1,333 | -56.6% |
| Financial charges | 65/66B | €7,718 | €6,440 | -€1,277 | -16.5% |
| Recurring financial charges | 65 | €7,718 | €6,440 | -€1,277 | -16.5% |
| Profit (loss) for the period before taxes | 9903 | €279,152 | €32,406 | -€246,746 | -88.4% |
| Transfer from deferred taxes | 780 | €1,290 | €71,935 | +€70,645 | +5478.0% |
| Transfer to deferred taxes | 680 | €70,645 | - | -€70,645 | |
| Income taxes | 67/77 | €1 | €53,259 | +€53,258 | +5273095.0% |
| Profit (loss) for the period | 9904 | €209,795 | €51,082 | -€158,713 | -75.7% |
| Transfer from tax-exempt reserves | 789 | €3,869 | €215,805 | +€211,936 | +5478.0% |
| Transfer to tax-exempt reserves | 689 | €211,936 | - | -€211,936 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,728 | €266,887 | +€265,159 | +15343.3% |
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 3 October 2026 via checked.be.