L&M BOOKS: what changed
L&M BOOKS
Largest movements
- Cash -€43,380
down €43,380 (-58.2%), from €74,564 to €31,184
mainly Trade debts (-€29,876) and Receivables within one year (-€25,915)
- Receivables within one year +€25,915
up €25,915 (+12.6%), from €205,053 to €230,968
of which Trade receivables: +€63,934
- Deferred charges and accrued income -€5,015
down €5,015 (-33.2%), from €15,122 to €10,107
- Tangible fixed assets +€3,982
up €3,982 (+15.1%), from €26,424 to €30,405
of which Plant, machinery and equipment: +€13,899
- Trade debts -€29,876
down €29,876 (-18.5%), from €161,270 to €131,394
- Short-term financial debts +€11,083
up €11,083 (+47.2%), from €23,491 to €34,574
- Current portion of long-term debt -€5,539
no longer reported in 2026 (was €5,539)
- Tax, wage and social debts +€4,649
up €4,649 (+8.5%), from €54,521 to €59,170
of which Taxes: +€7,827
- Staff costs +€53,733
up €53,733 (+11.7%), from €457,411 to €511,144
- Gross operating margin +€45,629
up €45,629 (+8.9%), from €515,507 to €561,136
- Depreciation -€7,220
down €7,220 (-31.7%), from €22,803 to €15,583
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €325,083 | €306,585 | -€18,498 | -5.7% |
| Fixed assets | 21/28 | €30,344 | €34,325 | +€3,982 | +13.1% |
| Tangible fixed assets | 22/27 | €26,424 | €30,405 | +€3,982 | +15.1% |
| Plant, machinery and equipment | 23 | - | €13,899 | +€13,899 | |
| Furniture and vehicles | 24 | €21,153 | €9,099 | -€12,054 | -57.0% |
| Other tangible fixed assets | 26 | €5,270 | €7,407 | +€2,137 | +40.6% |
| Financial fixed assets | 28 | €3,920 | €3,920 | = | 0.0% |
| Current assets | 29/58 | €294,739 | €272,260 | -€22,480 | -7.6% |
| Amounts receivable within one year | 40/41 | €205,053 | €230,968 | +€25,915 | +12.6% |
| Trade receivables | 40 | €156,649 | €220,583 | +€63,934 | +40.8% |
| Other amounts receivable | 41 | €48,405 | €10,386 | -€38,019 | -78.5% |
| Cash at bank and in hand | 54/58 | €74,564 | €31,184 | -€43,380 | -58.2% |
| Deferred charges and accrued income | 490/1 | €15,122 | €10,107 | -€5,015 | -33.2% |
| Total equity and liabilities | 10/49 | €325,083 | €306,585 | -€18,498 | -5.7% |
| Equity | 10/15 | €54,233 | €54,621 | +€387 | +0.7% |
| Contributions | 10/11 | €10,888 | €10,888 | = | 0.0% |
| Reserves | 13 | €43,346 | €43,733 | +€387 | +0.9% |
| Distributable reserves | 133 | €43,346 | €43,733 | +€387 | +0.9% |
| Amounts payable | 17/49 | €270,850 | €251,964 | -€18,885 | -7.0% |
| Amounts payable within one year | 42/48 | €270,850 | €251,964 | -€18,885 | -7.0% |
| Current portion of amounts payable after more than one year | 42 | €5,539 | - | -€5,539 | |
| Financial debts | 43 | €23,491 | €34,574 | +€11,083 | +47.2% |
| Credit institutions | 430/8 | €23,491 | €34,574 | +€11,083 | +47.2% |
| Trade debts | 44 | €161,270 | €131,394 | -€29,876 | -18.5% |
| Suppliers | 440/4 | €161,270 | €131,394 | -€29,876 | -18.5% |
| Taxes, remuneration and social security | 45 | €54,521 | €59,170 | +€4,649 | +8.5% |
| Taxes | 450/3 | €161 | €7,988 | +€7,827 | +4,860% |
| Remuneration and social security | 454/9 | €54,360 | €51,182 | -€3,178 | -5.8% |
| Other amounts payable | 47/48 | €26,029 | €26,827 | +€798 | +3.1% |
| Non-recurring operating income | 76A | - | €3,903 | +€3,903 | |
| Remuneration, social security and pensions | 62 | €457,411 | €511,144 | +€53,733 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,803 | €15,583 | -€7,220 | -31.7% |
| Other operating charges | 640/8 | €805 | €880 | +€75 | +9.3% |
| Gross operating margin | 9900 | €515,507 | €561,136 | +€45,629 | +8.9% |
| Operating profit (loss) | 9901 | €34,487 | €33,528 | -€959 | -2.8% |
| Financial income | 75/76B | €10 | €29 | +€19 | +180% |
| Recurring financial income | 75 | €10 | €29 | +€19 | +180% |
| Financial charges | 65/66B | €2,483 | €3,387 | +€904 | +36.4% |
| Recurring financial charges | 65 | €2,483 | €3,387 | +€904 | +36.4% |
| Profit (loss) for the period before taxes | 9903 | €32,014 | €30,170 | -€1,844 | -5.8% |
| Income taxes | 67/77 | €5,164 | €7,783 | +€2,619 | +50.7% |
| Profit (loss) for the period | 9904 | €26,851 | €22,387 | -€4,463 | -16.6% |
| Profit (loss) for the period to be appropriated | 9905 | €26,851 | €22,387 | -€4,463 | -16.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.