L.L.M. 2002: 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.
L.L.M. 2002
Largest movements
- Receivables within one year +€115,064
up €115,064 (+25.0%), from €460,960 to €576,024
of which Trade receivables: +€118,412
- Tangible fixed assets -€90,051
down €90,051 (-7.9%), from €1.1m to €1.0m
of which Land and buildings: -€49,160
- Cash +€44,876
up €44,876 (+137%), from €32,859 to €77,735
mainly Net result for the year (+€135,384) and Depreciation (+€109,857)
- Profit (loss) carried forward +€135,384
up €135,384 (+16.8%), from -€805,544 to -€670,160
- Debts after one year -€95,942
down €95,942 (-4.6%), from €2.1m to €2.0m
- Trade debts +€28,820
up €28,820 (+185%), from €15,569 to €44,389
- Gross operating margin +€123,747
up €123,747 (+37.4%), from €330,798 to €454,545
- Other operating charges -€7,002
down €7,002 (-57.7%), from €12,128 to €5,126
- Depreciation -€5,719
down €5,719 (-4.9%), from €115,576 to €109,857
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 | €1,633,970 | €1,705,684 | +€71,714 | +4.4% |
| Fixed assets | 21/28 | €1,139,450 | €1,049,399 | -€90,051 | -7.9% |
| Tangible fixed assets | 22/27 | €1,139,450 | €1,049,399 | -€90,051 | -7.9% |
| Land and buildings | 22 | €1,036,953 | €987,793 | -€49,160 | -4.7% |
| Plant, machinery and equipment | 23 | €52,498 | €34,987 | -€17,510 | -33.4% |
| Furniture and vehicles | 24 | €14,684 | €22,618 | +€7,933 | +54.0% |
| Leasing and similar rights | 25 | €35,315 | €4,001 | -€31,314 | -88.7% |
| Current assets | 29/58 | €494,520 | €656,285 | +€161,765 | +32.7% |
| Amounts receivable within one year | 40/41 | €460,960 | €576,024 | +€115,064 | +25.0% |
| Trade receivables | 40 | €42,496 | €160,908 | +€118,412 | +279% |
| Other amounts receivable | 41 | €418,464 | €415,116 | -€3,348 | -0.8% |
| Cash at bank and in hand | 54/58 | €32,859 | €77,735 | +€44,876 | +137% |
| Deferred charges and accrued income | 490/1 | €701 | €2,526 | +€1,824 | +260% |
| Total equity and liabilities | 10/49 | €1,633,970 | €1,705,684 | +€71,714 | +4.4% |
| Equity | 10/15 | -€719,355 | -€587,314 | +€132,041 | +18.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€805,544 | -€670,160 | +€135,384 | +16.8% |
| Investment grants | 15 | €65,729 | €62,387 | -€3,342 | -5.1% |
| Provisions and deferred taxes | 16 | €21,886 | €20,773 | -€1,113 | -5.1% |
| Deferred taxes | 168 | €21,886 | €20,773 | -€1,113 | -5.1% |
| Amounts payable | 17/49 | €2,331,439 | €2,272,224 | -€59,215 | -2.5% |
| Amounts payable after more than one year | 17 | €2,095,760 | €1,999,818 | -€95,942 | -4.6% |
| Financial debts | 170/4 | €2,095,760 | €1,999,818 | -€95,942 | -4.6% |
| Amounts payable within one year | 42/48 | €234,410 | €269,276 | +€34,867 | +14.9% |
| Current portion of amounts payable after more than one year | 42 | €102,327 | €103,872 | +€1,545 | +1.5% |
| Trade debts | 44 | €15,569 | €44,389 | +€28,820 | +185% |
| Suppliers | 440/4 | €15,569 | €44,389 | +€28,820 | +185% |
| Taxes, remuneration and social security | 45 | €35,514 | €40,016 | +€4,501 | +12.7% |
| Taxes | 450/3 | €2,415 | €642 | -€1,773 | -73.4% |
| Remuneration and social security | 454/9 | €33,099 | €39,374 | +€6,274 | +19.0% |
| Other amounts payable | 47/48 | €81,000 | €81,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,269 | €3,130 | +€1,861 | +147% |
| Remuneration, social security and pensions | 62 | €191,570 | €192,683 | +€1,113 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115,576 | €109,857 | -€5,719 | -4.9% |
| Other operating charges | 640/8 | €12,128 | €5,126 | -€7,002 | -57.7% |
| Gross operating margin | 9900 | €330,798 | €454,545 | +€123,747 | +37.4% |
| Operating profit (loss) | 9901 | €11,524 | €146,879 | +€135,355 | +1,175% |
| Financial income | 75/76B | €3,432 | €4,047 | +€615 | +17.9% |
| Recurring financial income | 75 | €3,432 | €4,047 | +€615 | +17.9% |
| Financial charges | 65/66B | €17,581 | €16,655 | -€926 | -5.3% |
| Recurring financial charges | 65 | €17,581 | €16,655 | -€926 | -5.3% |
| Profit (loss) for the period before taxes | 9903 | -€2,626 | €134,271 | +€136,896 | |
| Transfer from deferred taxes | 780 | €1,113 | €1,113 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€1,513 | €135,384 | +€136,896 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,513 | €135,384 | +€136,896 |
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 24 October 2026 via checked.be.