LIWICO: 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.
LIWICO
Largest movements
- Tangible fixed assets -€12,837
down €12,837 (-4.8%), from €265,623 to €252,786
of which Land and buildings: -€11,637
- Debts after one year -€7,939
down €7,939 (-3.2%), from €248,356 to €240,417
- Depreciation -€2,415
down €2,415 (-15.8%), from €15,252 to €12,837
- Gross operating margin +€2,311
up €2,311 (+11.1%), from €20,904 to €23,215
- Other operating charges +€424
up €424 (+31.2%), from €1,358 to €1,782
- Financial charges -€286
down €286 (-2.7%), from €10,770 to €10,484
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 | €272,255 | €262,516 | -€9,739 | -3.6% |
| Fixed assets | 21/28 | €265,623 | €252,786 | -€12,837 | -4.8% |
| Tangible fixed assets | 22/27 | €265,623 | €252,786 | -€12,837 | -4.8% |
| Land and buildings | 22 | €259,729 | €248,092 | -€11,637 | -4.5% |
| Plant, machinery and equipment | 23 | €5,895 | €4,695 | -€1,200 | -20.4% |
| Current assets | 29/58 | €6,632 | €9,730 | +€3,098 | +46.7% |
| Amounts receivable within one year | 40/41 | €281 | €1,388 | +€1,107 | +393.9% |
| Trade receivables | 40 | €207 | €1,388 | +€1,182 | +571.3% |
| Other amounts receivable | 41 | €74 | €0 | -€74 | -100.0% |
| Cash at bank and in hand | 54/58 | €6,279 | €8,266 | +€1,987 | +31.7% |
| Deferred charges and accrued income | 490/1 | €72 | €75 | +€3 | +4.6% |
| Total equity and liabilities | 10/49 | €272,255 | €262,516 | -€9,739 | -3.6% |
| Equity | 10/15 | €5,865 | €3,977 | -€1,888 | -32.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,135 | -€21,023 | -€1,888 | -9.9% |
| Amounts payable | 17/49 | €266,390 | €258,539 | -€7,851 | -2.9% |
| Amounts payable after more than one year | 17 | €248,356 | €240,417 | -€7,939 | -3.2% |
| Financial debts | 170/4 | €248,356 | €240,417 | -€7,939 | -3.2% |
| Amounts payable within one year | 42/48 | €14,990 | €15,542 | +€552 | +3.7% |
| Current portion of amounts payable after more than one year | 42 | €8,218 | €8,585 | +€367 | +4.5% |
| Trade debts | 44 | €6,428 | €5,212 | -€1,216 | -18.9% |
| Suppliers | 440/4 | €6,428 | €5,212 | -€1,216 | -18.9% |
| Taxes, remuneration and social security | 45 | €344 | €1,745 | +€1,401 | +407.0% |
| Taxes | 450/3 | €344 | €1,745 | +€1,401 | +407.0% |
| Accrued charges and deferred income | 492/3 | €3,044 | €2,580 | -€464 | -15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,252 | €12,837 | -€2,415 | -15.8% |
| Other operating charges | 640/8 | €1,358 | €1,782 | +€424 | +31.2% |
| Gross operating margin | 9900 | €20,904 | €23,215 | +€2,311 | +11.1% |
| Operating profit (loss) | 9901 | €4,294 | €8,596 | +€4,302 | +100.2% |
| Financial charges | 65/66B | €10,770 | €10,484 | -€286 | -2.7% |
| Recurring financial charges | 65 | €10,770 | €10,484 | -€286 | -2.7% |
| Profit (loss) for the period before taxes | 9903 | -€6,476 | -€1,888 | +€4,588 | +70.8% |
| Profit (loss) for the period | 9904 | -€6,476 | -€1,888 | +€4,588 | +70.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,476 | -€1,888 | +€4,588 | +70.8% |
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 30 September 2026 via checked.be.