Lybaert & Partners: 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.
Lybaert & Partners
Largest movements
- Cash +€13,976
up €13,976 (+21.9%), from €63,699 to €77,675
mainly Net result for the year (+€31,159) and Trade debts (+€19,312)
- Tangible fixed assets -€10,552
down €10,552 (-2.1%), from €504,126 to €493,574
of which Land and buildings: -€10,420
- Other debts -€28,461
down €28,461 (-66.9%), from €42,561 to €14,100
- Reserves +€25,399
up €25,399 (+6.8%), from €373,404 to €398,803
- Trade debts +€19,312
up €19,312 (+1,165%), from €1,657 to €20,969
- Debts after one year -€10,000
down €10,000 (-29.9%), from €33,430 to €23,430
of which Financial debts: -€10,000
- Current portion of long-term debt -€7,927
down €7,927 (-36.4%), from €21,751 to €13,824
- Gross operating margin -€23,623
down €23,623 (-19.6%), from €120,451 to €96,828
- Write-downs -€12,231
down €12,231 (-47.6%), from €25,673 to €13,442
- Taxes -€6,144
down €6,144 (-32.5%), from €18,903 to €12,759
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 | €590,771 | €594,939 | +€4,168 | +0.7% |
| Fixed assets | 21/28 | €504,221 | €493,624 | -€10,597 | -2.1% |
| Tangible fixed assets | 22/27 | €504,126 | €493,574 | -€10,552 | -2.1% |
| Land and buildings | 22 | €496,439 | €486,019 | -€10,420 | -2.1% |
| Plant, machinery and equipment | 23 | €7,164 | €7,274 | +€110 | +1.5% |
| Furniture and vehicles | 24 | €523 | €281 | -€242 | -46.3% |
| Financial fixed assets | 28 | €95 | €50 | -€45 | -47.4% |
| Current assets | 29/58 | €86,550 | €101,315 | +€14,765 | +17.1% |
| Amounts receivable within one year | 40/41 | €21,008 | €21,397 | +€389 | +1.9% |
| Trade receivables | 40 | €21,008 | €13,332 | -€7,676 | -36.5% |
| Other amounts receivable | 41 | - | €8,065 | +€8,065 | |
| Cash at bank and in hand | 54/58 | €63,699 | €77,675 | +€13,976 | +21.9% |
| Deferred charges and accrued income | 490/1 | €1,843 | €2,243 | +€400 | +21.7% |
| Total equity and liabilities | 10/49 | €590,771 | €594,939 | +€4,168 | +0.7% |
| Equity | 10/15 | €379,604 | €405,003 | +€25,399 | +6.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €373,404 | €398,803 | +€25,399 | +6.8% |
| Distributable reserves | 133 | €373,404 | €398,803 | +€25,399 | +6.8% |
| Amounts payable | 17/49 | €211,167 | €189,936 | -€21,231 | -10.1% |
| Amounts payable after more than one year | 17 | €33,430 | €23,430 | -€10,000 | -29.9% |
| Financial debts | 170/4 | €32,500 | €22,500 | -€10,000 | -30.8% |
| Other amounts payable | 178/9 | €930 | €930 | = | 0.0% |
| Amounts payable within one year | 42/48 | €176,996 | €160,318 | -€16,678 | -9.4% |
| Current portion of amounts payable after more than one year | 42 | €21,751 | €13,824 | -€7,927 | -36.4% |
| Financial debts | 43 | €105,000 | €105,000 | = | 0.0% |
| Credit institutions | 430/8 | €105,000 | €105,000 | = | 0.0% |
| Trade debts | 44 | €1,657 | €20,969 | +€19,312 | +1,165% |
| Suppliers | 440/4 | €1,657 | €20,969 | +€19,312 | +1,165% |
| Taxes, remuneration and social security | 45 | €6,027 | €6,425 | +€398 | +6.6% |
| Taxes | 450/3 | €6,027 | €6,425 | +€398 | +6.6% |
| Other amounts payable | 47/48 | €42,561 | €14,100 | -€28,461 | -66.9% |
| Accrued charges and deferred income | 492/3 | €741 | €6,188 | +€5,447 | +735% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,515 | €13,859 | +€344 | +2.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €25,673 | €13,442 | -€12,231 | -47.6% |
| Other operating charges | 640/8 | €12,633 | €13,221 | +€588 | +4.7% |
| Gross operating margin | 9900 | €120,451 | €96,828 | -€23,623 | -19.6% |
| Operating profit (loss) | 9901 | €68,630 | €56,306 | -€12,324 | -18.0% |
| Financial income | 75/76B | €64 | €692 | +€628 | +981% |
| Recurring financial income | 75 | €64 | €692 | +€628 | +981% |
| Financial charges | 65/66B | €12,164 | €13,080 | +€916 | +7.5% |
| Recurring financial charges | 65 | €12,164 | €10,369 | -€1,795 | -14.8% |
| Non-recurring financial charges | 66B | - | €2,711 | +€2,711 | |
| Profit (loss) for the period before taxes | 9903 | €56,530 | €43,918 | -€12,612 | -22.3% |
| Income taxes | 67/77 | €18,903 | €12,759 | -€6,144 | -32.5% |
| Profit (loss) for the period | 9904 | €37,627 | €31,159 | -€6,468 | -17.2% |
| Profit (loss) for the period to be appropriated | 9905 | €37,627 | €31,159 | -€6,468 | -17.2% |
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 29 October 2026 via checked.be.