SIMON LIEFOOGHE: 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.
SIMON LIEFOOGHE
Largest movements
- Cash +€28,744
up €28,744 (+548%), from €5,243 to €33,987
mainly Depreciation (+€14,123) and Net result for the year (+€11,973)
- Tangible fixed assets -€14,123
down €14,123 (-5.3%), from €266,193 to €252,070
of which Land and buildings: -€8,129
- Receivables within one year +€5,277
up €5,277 (+25.4%), from €20,793 to €26,070
- Reserves +€11,973
up €11,973 (+52.5%), from €22,789 to €34,762
- Debts after one year +€5,386
up €5,386 (+2.3%), from €234,402 to €239,788
- Current portion of long-term debt +€5,137
up €5,137 (+38.1%), from €13,486 to €18,623
- Gross operating margin +€4,278
up €4,278 (+11.3%), from €37,971 to €42,249
- Taxes +€3,459
up €3,459 (+117%), from €2,962 to €6,421
- Depreciation +€714
up €714 (+5.3%), from €13,409 to €14,123
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 | €292,873 | €312,803 | +€19,930 | +6.8% |
| Fixed assets | 21/28 | €266,193 | €252,070 | -€14,123 | -5.3% |
| Tangible fixed assets | 22/27 | €266,193 | €252,070 | -€14,123 | -5.3% |
| Land and buildings | 22 | €253,169 | €245,040 | -€8,129 | -3.2% |
| Plant, machinery and equipment | 23 | €672 | €524 | -€148 | -22.0% |
| Furniture and vehicles | 24 | €12,352 | €6,506 | -€5,846 | -47.3% |
| Current assets | 29/58 | €26,680 | €60,733 | +€34,053 | +128% |
| Amounts receivable within one year | 40/41 | €20,793 | €26,070 | +€5,277 | +25.4% |
| Trade receivables | 40 | €20,793 | €26,070 | +€5,277 | +25.4% |
| Cash at bank and in hand | 54/58 | €5,243 | €33,987 | +€28,744 | +548% |
| Deferred charges and accrued income | 490/1 | €644 | €676 | +€32 | +5.0% |
| Total equity and liabilities | 10/49 | €292,873 | €312,803 | +€19,930 | +6.8% |
| Equity | 10/15 | €27,789 | €39,762 | +€11,973 | +43.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €22,789 | €34,762 | +€11,973 | +52.5% |
| Distributable reserves | 133 | €22,789 | €34,762 | +€11,973 | +52.5% |
| Amounts payable | 17/49 | €265,084 | €273,041 | +€7,957 | +3.0% |
| Amounts payable after more than one year | 17 | €234,402 | €239,788 | +€5,386 | +2.3% |
| Financial debts | 170/4 | €234,402 | €239,788 | +€5,386 | +2.3% |
| Amounts payable within one year | 42/48 | €30,659 | €33,253 | +€2,594 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | €13,486 | €18,623 | +€5,137 | +38.1% |
| Trade debts | 44 | €91 | €581 | +€490 | +538% |
| Suppliers | 440/4 | €91 | €581 | +€490 | +538% |
| Taxes, remuneration and social security | 45 | €11,211 | €9,057 | -€2,154 | -19.2% |
| Taxes | 450/3 | €9,311 | €7,157 | -€2,154 | -23.1% |
| Remuneration and social security | 454/9 | €1,900 | €1,900 | = | 0.0% |
| Other amounts payable | 47/48 | €5,871 | €4,992 | -€879 | -15.0% |
| Accrued charges and deferred income | 492/3 | €23 | - | -€23 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,409 | €14,123 | +€714 | +5.3% |
| Other operating charges | 640/8 | €1,318 | €1,021 | -€297 | -22.5% |
| Gross operating margin | 9900 | €37,971 | €42,249 | +€4,278 | +11.3% |
| Operating profit (loss) | 9901 | €23,244 | €27,105 | +€3,861 | +16.6% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €8,605 | €8,714 | +€109 | +1.3% |
| Recurring financial charges | 65 | €8,605 | €8,714 | +€109 | +1.3% |
| Profit (loss) for the period before taxes | 9903 | €14,639 | €18,394 | +€3,755 | +25.7% |
| Income taxes | 67/77 | €2,962 | €6,421 | +€3,459 | +117% |
| Profit (loss) for the period | 9904 | €11,677 | €11,973 | +€296 | +2.5% |
| Profit (loss) for the period to be appropriated | 9905 | €11,677 | €11,973 | +€296 | +2.5% |
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 27 October 2026 via checked.be.