liv: what changed
What changed
liv
NACE 77.225, Rental and leasing activities
filed annual accounts (NBB)
Net result for the year
€205,459
2024 · €438,204-€232,745
Equity
€1.8m
2024 · €1.6m+€205,459
Cash
€547,682
2024 · €1.7m-€1.1m
Balance sheet total
€9.3m
2024 · €8.3m+€1.0m
Largest movements
Assets
- Tangible fixed assets +€2.2m
up €2.2m (+35.3%), from €6.1m to €8.3m
of which Land and buildings: +€8.3m
- Cash -€1.1m
down €1.1m (-67.7%), from €1.7m to €547,682
mainly Investment in fixed assets (net) (-€2.5m) and Tax, wage and social debts (-€16,312)
Equity and liabilities
- Debts after one year +€695,763
up €695,763 (+12.1%), from €5.8m to €6.4m
- Profit (loss) carried forward +€205,459
new in 2025: €205,459
- Trade debts +€127,722
up €127,722 (+3,133%), from €4,076 to €131,798
Income statement
- Depreciation +€255,317
up €255,317 (+703%), from €36,294 to €291,612
- Financial income +€215,965
up €215,965 (+101%), from €213,137 to €429,102
of which Financial income: +€215,965
- Gross operating margin -€113,134
down €113,134 (-39.4%), from €287,080 to €173,947
- Financial charges +€48,150
up €48,150 (+1,012%), from €4,757 to €52,907
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€438,204
Gross operating margin
-€113,134
Staff costs
-€867
Depreciation
-€255,317
Other operating charges
+€282
Other operating items
-€31,525
Financial income
+€215,965
Financial charges
-€48,150
Result 2025
€205,459
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€613,911
Investment
-€2.5m
Financing
+€695,763
Cash 2024
€1.7m
From operations (derived)
+€613,911
Net result for the year
+€205,459
Depreciation
+€291,612
Receivables within one year
-€7,568
Deferred charges and accrued income
-€1,106
Trade debts
+€127,722
Tax, wage and social debts
-€16,312
Accrued charges and deferred income
+€14,103
Investment (derived)
-€2.5m
Investment in fixed assets (net)
-€2.5m
Financing
+€695,763
Debts after one year
+€695,763
Contributions, distributions and other
-€0
Cash 2025
€547,682
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,286,794 | €9,313,530 | +€1.0m | +12.4% |
| Fixed assets | 21/28 | €6,132,982 | €8,299,506 | +€2.2m | +35.3% |
| Tangible fixed assets | 22/27 | €6,132,982 | €8,299,506 | +€2.2m | +35.3% |
| Land and buildings | 22 | - | €8,299,506 | +€8.3m | |
| Other tangible fixed assets | 26 | €5,422 | - | -€5,422 | |
| Assets under construction and advance payments | 27 | €6,127,560 | - | -€6.1m | |
| Current assets | 29/58 | €2,153,812 | €1,014,023 | -€1.1m | -52.9% |
| Amounts receivable within one year | 40/41 | €457,659 | €465,226 | +€7,568 | +1.7% |
| Trade receivables | 40 | €14,687 | €34,147 | +€19,460 | +132% |
| Other amounts receivable | 41 | €442,971 | €431,079 | -€11,893 | -2.7% |
| Cash at bank and in hand | 54/58 | €1,696,144 | €547,682 | -€1.1m | -67.7% |
| Deferred charges and accrued income | 490/1 | €10 | €1,115 | +€1,106 | +11,409% |
| Total equity and liabilities | 10/49 | €8,286,794 | €9,313,530 | +€1.0m | +12.4% |
| Equity | 10/15 | €1,584,980 | €1,790,438 | +€205,459 | +13.0% |
| Reserves | 13 | €1,584,980 | €1,584,980 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | - | €205,459 | +€205,459 | |
| Amounts payable | 17/49 | €6,701,815 | €7,523,091 | +€821,277 | +12.3% |
| Amounts payable after more than one year | 17 | €5,750,000 | €6,445,763 | +€695,763 | +12.1% |
| Financial debts | 170/4 | €5,750,000 | €6,445,763 | +€695,763 | +12.1% |
| Amounts payable within one year | 42/48 | €413,318 | €524,728 | +€111,410 | +27.0% |
| Trade debts | 44 | €4,076 | €131,798 | +€127,722 | +3,133% |
| Suppliers | 440/4 | €4,076 | €131,798 | +€127,722 | +3,133% |
| Taxes, remuneration and social security | 45 | €409,242 | €392,929 | -€16,312 | -4.0% |
| Taxes | 450/3 | €409,242 | €392,291 | -€16,951 | -4.1% |
| Remuneration and social security | 454/9 | - | €639 | +€639 | |
| Accrued charges and deferred income | 492/3 | €538,497 | €552,600 | +€14,103 | +2.6% |
| Remuneration, social security and pensions | 62 | €20,680 | €21,547 | +€867 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,294 | €291,612 | +€255,317 | +703% |
| Other operating charges | 640/8 | €282 | - | -€282 | |
| Non-recurring operating charges | 66A | - | €31,525 | +€31,525 | |
| Gross operating margin | 9900 | €287,080 | €173,947 | -€113,134 | -39.4% |
| Operating profit (loss) | 9901 | €229,824 | -€170,737 | -€400,561 | |
| Financial income | 75/76B | €213,137 | €429,102 | +€215,965 | +101% |
| Recurring financial income | 75 | €213,137 | €429,102 | +€215,965 | +101% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €4,757 | €52,907 | +€48,150 | +1,012% |
| Recurring financial charges | 65 | €4,757 | €52,907 | +€48,150 | +1,012% |
| Profit (loss) for the period before taxes | 9903 | €438,204 | €205,459 | -€232,745 | -53.1% |
| Profit (loss) for the period | 9904 | €438,204 | €205,459 | -€232,745 | -53.1% |
| Profit (loss) for the period to be appropriated | 9905 | €438,204 | €205,459 | -€232,745 | -53.1% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.