LIBELL: 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.
LIBELL
Largest movements
- Cash -€57,301
down €57,301 (-67.3%), from €85,162 to €27,860
mainly Contributions, distributions and other (-€450,000) and Debts after one year (-€65,495)
- Receivables within one year +€54,645
up €54,645 (+585%), from €9,349 to €63,994
- Other debts +€351,462
up €351,462 (+389%), from €90,268 to €441,730
- Reserves -€291,418
down €291,418 (-32.3%), from €903,342 to €611,924
- Debts after one year -€65,495
down €65,495 (-17.6%), from €371,989 to €306,494
- Financial income +€41,621
up €41,621 (+10,980%), from €379 to €42,000
- Gross operating margin -€41,065
down €41,065 (-20.8%), from €197,683 to €156,618
- Taxes -€8,758
down €8,758 (-21.3%), from €41,209 to €32,451
- Financial charges -€6,366
down €6,366 (-51.2%), from €12,440 to €6,074
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 | €1,454,787 | €1,452,018 | -€2,769 | -0.2% |
| Fixed assets | 21/28 | €1,359,108 | €1,358,854 | -€254 | 0.0% |
| Financial fixed assets | 28 | €1,359,108 | €1,358,854 | -€254 | 0.0% |
| Current assets | 29/58 | €95,679 | €93,164 | -€2,515 | -2.6% |
| Amounts receivable within one year | 40/41 | €9,349 | €63,994 | +€54,645 | +585% |
| Other amounts receivable | 41 | €9,349 | €63,994 | +€54,645 | +585% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €85,162 | €27,860 | -€57,301 | -67.3% |
| Deferred charges and accrued income | 490/1 | €1,168 | €1,310 | +€142 | +12.1% |
| Total equity and liabilities | 10/49 | €1,454,787 | €1,452,018 | -€2,769 | -0.2% |
| Equity | 10/15 | €921,942 | €630,524 | -€291,418 | -31.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €903,342 | €611,924 | -€291,418 | -32.3% |
| Distributable reserves | 133 | €903,342 | €611,924 | -€291,418 | -32.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €532,845 | €821,494 | +€288,649 | +54.2% |
| Amounts payable after more than one year | 17 | €371,989 | €306,494 | -€65,495 | -17.6% |
| Financial debts | 170/4 | €371,989 | €306,494 | -€65,495 | -17.6% |
| Amounts payable within one year | 42/48 | €158,900 | €512,891 | +€353,990 | +223% |
| Current portion of amounts payable after more than one year | 42 | €64,573 | €65,495 | +€922 | +1.4% |
| Trade debts | 44 | - | €92 | +€92 | |
| Suppliers | 440/4 | - | €92 | +€92 | |
| Taxes, remuneration and social security | 45 | €4,059 | €5,573 | +€1,514 | +37.3% |
| Taxes | 450/3 | €4,059 | €5,573 | +€1,514 | +37.3% |
| Other amounts payable | 47/48 | €90,268 | €441,730 | +€351,462 | +389% |
| Accrued charges and deferred income | 492/3 | €1,955 | €2,109 | +€154 | +7.9% |
| Other operating charges | 640/8 | €1,271 | €1,511 | +€240 | +18.9% |
| Gross operating margin | 9900 | €197,683 | €156,618 | -€41,065 | -20.8% |
| Operating profit (loss) | 9901 | €196,412 | €155,107 | -€41,306 | -21.0% |
| Financial income | 75/76B | €379 | €42,000 | +€41,621 | +10,980% |
| Recurring financial income | 75 | €379 | €42,000 | +€41,621 | +10,980% |
| Financial charges | 65/66B | €12,440 | €6,074 | -€6,366 | -51.2% |
| Recurring financial charges | 65 | €12,440 | €6,074 | -€6,366 | -51.2% |
| Profit (loss) for the period before taxes | 9903 | €184,351 | €191,033 | +€6,681 | +3.6% |
| Income taxes | 67/77 | €41,209 | €32,451 | -€8,758 | -21.3% |
| Profit (loss) for the period | 9904 | €143,143 | €158,582 | +€15,439 | +10.8% |
| Profit (loss) for the period to be appropriated | 9905 | €143,143 | €158,582 | +€15,439 | +10.8% |
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 25 October 2026 via checked.be.