Sam Libot: 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.
Sam Libot
Largest movements
- Cash +€56,898
up €56,898 (+169.6%), from €33,547 to €90,445
mainly Other debts (+€106,071) and Stocks and contracts (+€35,816)
- Stocks and contracts -€35,816
down €35,816 (-66.9%), from €53,507 to €17,691
of which Contracts in progress: -€36,000
- Tangible fixed assets +€25,611
up €25,611 (+13.1%), from €196,096 to €221,707
of which Furniture and vehicles: +€34,126
- Receivables within one year -€24,143
down €24,143 (-58.4%), from €41,326 to €17,182
of which Trade receivables: -€18,447
- Other debts +€106,071
up €106,071 (+905.2%), from €11,718 to €117,788
- Reserves -€96,821
down €96,821 (-91.2%), from €106,204 to €9,382
- Debts after one year +€17,444
up €17,444 (+11.8%), from €148,096 to €165,539
- Trade debts -€12,943
down €12,943 (-40.4%), from €32,077 to €19,133
- Current portion of long-term debt +€5,372
up €5,372 (+39.9%), from €13,453 to €18,825
- Gross operating margin +€15,893
up €15,893 (+85.2%), from €18,651 to €34,544
- Depreciation +€10,252
up €10,252 (+92.4%), from €11,099 to €21,351
- Financial charges +€1,502
up €1,502 (+58.2%), from €2,579 to €4,081
- Taxes +€684
up €684 (+59.0%), from €1,160 to €1,845
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 | €329,094 | €349,963 | +€20,869 | +6.3% |
| Fixed assets | 21/28 | €196,096 | €221,707 | +€25,611 | +13.1% |
| Tangible fixed assets | 22/27 | €196,096 | €221,707 | +€25,611 | +13.1% |
| Land and buildings | 22 | €179,752 | €172,506 | -€7,246 | -4.0% |
| Plant, machinery and equipment | 23 | €4,035 | €2,765 | -€1,270 | -31.5% |
| Furniture and vehicles | 24 | €12,309 | €46,435 | +€34,126 | +277.2% |
| Current assets | 29/58 | €132,999 | €128,256 | -€4,742 | -3.6% |
| Stocks and contracts in progress | 3 | €53,507 | €17,691 | -€35,816 | -66.9% |
| Stocks | 30/36 | €17,507 | €17,691 | +€184 | +1.1% |
| Contracts in progress | 37 | €36,000 | €0 | -€36,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €41,326 | €17,182 | -€24,143 | -58.4% |
| Trade receivables | 40 | €30,708 | €12,261 | -€18,447 | -60.1% |
| Other amounts receivable | 41 | €10,617 | €4,921 | -€5,696 | -53.6% |
| Cash at bank and in hand | 54/58 | €33,547 | €90,445 | +€56,898 | +169.6% |
| Deferred charges and accrued income | 490/1 | €4,620 | €2,938 | -€1,682 | -36.4% |
| Total equity and liabilities | 10/49 | €329,094 | €349,963 | +€20,869 | +6.3% |
| Equity | 10/15 | €118,604 | €21,782 | -€96,821 | -81.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €106,204 | €9,382 | -€96,821 | -91.2% |
| Distributable reserves | 133 | €106,204 | €9,382 | -€96,821 | -91.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €210,491 | €328,181 | +€117,690 | +55.9% |
| Amounts payable after more than one year | 17 | €148,096 | €165,539 | +€17,444 | +11.8% |
| Financial debts | 170/4 | €148,096 | €165,539 | +€17,444 | +11.8% |
| Amounts payable within one year | 42/48 | €62,395 | €160,019 | +€97,623 | +156.5% |
| Current portion of amounts payable after more than one year | 42 | €13,453 | €18,825 | +€5,372 | +39.9% |
| Trade debts | 44 | €32,077 | €19,133 | -€12,943 | -40.4% |
| Suppliers | 440/4 | €32,077 | €19,133 | -€12,943 | -40.4% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €5,148 | €4,272 | -€875 | -17.0% |
| Taxes | 450/3 | €2,032 | €1,137 | -€895 | -44.1% |
| Remuneration and social security | 454/9 | €3,116 | €3,136 | +€20 | +0.6% |
| Other amounts payable | 47/48 | €11,718 | €117,788 | +€106,071 | +905.2% |
| Accrued charges and deferred income | 492/3 | - | €2,623 | +€2,623 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | €284 | +€284 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,099 | €21,351 | +€10,252 | +92.4% |
| Other operating charges | 640/8 | €1,759 | €1,927 | +€168 | +9.6% |
| Non-recurring operating charges | 66A | €0 | €500 | +€500 | |
| Gross operating margin | 9900 | €18,651 | €34,544 | +€15,893 | +85.2% |
| Operating profit (loss) | 9901 | €5,793 | €10,482 | +€4,689 | +80.9% |
| Financial income | 75/76B | €168 | €22 | -€145 | -86.8% |
| Recurring financial income | 75 | €168 | €22 | -€145 | -86.8% |
| Financial charges | 65/66B | €2,579 | €4,081 | +€1,502 | +58.2% |
| Recurring financial charges | 65 | €2,579 | €4,081 | +€1,502 | +58.2% |
| Profit (loss) for the period before taxes | 9903 | €3,382 | €6,423 | +€3,042 | +89.9% |
| Income taxes | 67/77 | €1,160 | €1,845 | +€684 | +59.0% |
| Profit (loss) for the period | 9904 | €2,221 | €4,579 | +€2,357 | +106.1% |
| Profit (loss) for the period to be appropriated | 9905 | €2,221 | €4,579 | +€2,357 | +106.1% |
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 2 October 2026 via checked.be.