GROUP LM: 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.
GROUP LM
Largest movements
- Tangible fixed assets -€34,476
down €34,476 (-2.0%), from €1.7m to €1.6m
of which Land and buildings: -€33,391
- Other debts +€255,810
up €255,810 (+59.6%), from €429,425 to €685,235
- Tax, wage and social debts -€212,978
down €212,978 (-98.8%), from €215,482 to €2,504
- Profit (loss) carried forward -€46,573
down €46,573 (-16.4%), from -€283,993 to -€330,566
- Debts after one year -€26,827
down €26,827 (-92.2%), from €29,081 to €2,255
- Financial charges -€85,470
down €85,470 (-90.5%), from €94,489 to €9,019
- Write-downs +€23,206
new in 2025: €23,206
- Gross operating margin +€1,888
up €1,888 (+6.3%), from €29,790 to €31,678
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 | €1,721,249 | €1,682,707 | -€38,541 | -2.2% |
| Fixed assets | 21/28 | €1,684,344 | €1,649,868 | -€34,476 | -2.0% |
| Tangible fixed assets | 22/27 | €1,684,344 | €1,649,868 | -€34,476 | -2.0% |
| Land and buildings | 22 | €1,683,259 | €1,649,868 | -€33,391 | -2.0% |
| Plant, machinery and equipment | 23 | €1,085 | €0 | -€1,085 | -100% |
| Current assets | 29/58 | €36,905 | €32,839 | -€4,066 | -11.0% |
| Amounts receivable within one year | 40/41 | €35,502 | €25,571 | -€9,931 | -28.0% |
| Trade receivables | 40 | €35,502 | €25,571 | -€9,931 | -28.0% |
| Cash at bank and in hand | 54/58 | €1,403 | €7,268 | +€5,865 | +418% |
| Total equity and liabilities | 10/49 | €1,721,249 | €1,682,707 | -€38,541 | -2.2% |
| Equity | 10/15 | €1,006,570 | €959,997 | -€46,573 | -4.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Revaluation surpluses | 12 | €1,147,460 | €1,147,460 | = | 0.0% |
| Reserves | 13 | €118,103 | €118,103 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €115,603 | €115,603 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€283,993 | -€330,566 | -€46,573 | -16.4% |
| Amounts payable | 17/49 | €714,678 | €722,710 | +€8,032 | +1.1% |
| Amounts payable after more than one year | 17 | €29,081 | €2,255 | -€26,827 | -92.2% |
| Financial debts | 170/4 | €29,081 | €2,255 | -€26,827 | -92.2% |
| Amounts payable within one year | 42/48 | €685,597 | €720,455 | +€34,858 | +5.1% |
| Current portion of amounts payable after more than one year | 42 | €26,395 | €26,827 | +€431 | +1.6% |
| Trade debts | 44 | €14,295 | €5,890 | -€8,405 | -58.8% |
| Suppliers | 440/4 | €14,295 | €5,890 | -€8,405 | -58.8% |
| Taxes, remuneration and social security | 45 | €215,482 | €2,504 | -€212,978 | -98.8% |
| Taxes | 450/3 | €215,482 | €2,504 | -€212,978 | -98.8% |
| Other amounts payable | 47/48 | €429,425 | €685,235 | +€255,810 | +59.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,844 | €36,896 | +€52 | +0.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €23,206 | +€23,206 | |
| Other operating charges | 640/8 | €8,864 | €9,131 | +€267 | +3.0% |
| Gross operating margin | 9900 | €29,790 | €31,678 | +€1,888 | +6.3% |
| Operating profit (loss) | 9901 | -€15,918 | -€37,554 | -€21,636 | -136% |
| Financial charges | 65/66B | €94,489 | €9,019 | -€85,470 | -90.5% |
| Recurring financial charges | 65 | €94,489 | €9,019 | -€85,470 | -90.5% |
| Profit (loss) for the period before taxes | 9903 | -€110,407 | -€46,573 | +€63,834 | +57.8% |
| Profit (loss) for the period | 9904 | -€110,407 | -€46,573 | +€63,834 | +57.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€110,407 | -€46,573 | +€63,834 | +57.8% |
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 28 October 2026 via checked.be.