L.M.D. FINANCES: 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.M.D. FINANCES
Largest movements
- Current investments +€150,000
new in 2025: €150,000
- Cash -€67,831
down €67,831 (-45.4%), from €149,402 to €81,571
mainly Contributions, distributions and other (-€217,000) and Current investments (-€150,000)
- Tangible fixed assets -€5,244
down €5,244 (-90.1%), from €5,820 to €576
- Receivables within one year -€4,860
down €4,860 (-94.4%), from €5,149 to €289
- Other debts +€89,600
up €89,600 (+70.3%), from €127,400 to €217,000
- Tax, wage and social debts -€10,676
down €10,676 (-33.0%), from €32,387 to €21,711
of which Taxes: -€10,635
- Current portion of long-term debt -€5,090
down €5,090 (-91.6%), from €5,555 to €465
- Trade debts -€2,780
down €2,780 (-80.5%), from €3,452 to €672
- Gross operating margin +€140,548
up €140,548 (+44.0%), from €319,295 to €459,843
- Taxes +€30,018
up €30,018 (+66.9%), from €44,851 to €74,868
- Staff costs +€20,919
up €20,919 (+15.0%), from €139,415 to €160,333
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 | €189,329 | €260,333 | +€71,003 | +37.5% |
| Fixed assets | 21/28 | €5,870 | €626 | -€5,244 | -89.3% |
| Tangible fixed assets | 22/27 | €5,820 | €576 | -€5,244 | -90.1% |
| Furniture and vehicles | 24 | €5,820 | €576 | -€5,244 | -90.1% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €183,459 | €259,706 | +€76,247 | +41.6% |
| Amounts receivable within one year | 40/41 | €5,149 | €289 | -€4,860 | -94.4% |
| Other amounts receivable | 41 | €5,149 | €289 | -€4,860 | -94.4% |
| Current investments | 50/53 | - | €150,000 | +€150,000 | |
| Cash at bank and in hand | 54/58 | €149,402 | €81,571 | -€67,831 | -45.4% |
| Deferred charges and accrued income | 490/1 | €28,909 | €27,847 | -€1,062 | -3.7% |
| Total equity and liabilities | 10/49 | €189,329 | €260,333 | +€71,003 | +37.5% |
| Equity | 10/15 | €18,634 | €18,984 | +€351 | +1.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34 | €384 | +€351 | +1,038% |
| Amounts payable | 17/49 | €170,696 | €241,348 | +€70,653 | +41.4% |
| Amounts payable after more than one year | 17 | €465 | - | -€465 | |
| Financial debts | 170/4 | €465 | - | -€465 | |
| Amounts payable within one year | 42/48 | €168,794 | €239,848 | +€71,054 | +42.1% |
| Current portion of amounts payable after more than one year | 42 | €5,555 | €465 | -€5,090 | -91.6% |
| Trade debts | 44 | €3,452 | €672 | -€2,780 | -80.5% |
| Suppliers | 440/4 | €3,452 | €672 | -€2,780 | -80.5% |
| Taxes, remuneration and social security | 45 | €32,387 | €21,711 | -€10,676 | -33.0% |
| Taxes | 450/3 | €14,653 | €4,017 | -€10,635 | -72.6% |
| Remuneration and social security | 454/9 | €17,734 | €17,694 | -€41 | -0.2% |
| Other amounts payable | 47/48 | €127,400 | €217,000 | +€89,600 | +70.3% |
| Accrued charges and deferred income | 492/3 | €1,436 | €1,500 | +€64 | +4.5% |
| Remuneration, social security and pensions | 62 | €139,415 | €160,333 | +€20,919 | +15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,632 | €5,569 | -€63 | -1.1% |
| Other operating charges | 640/8 | €1,899 | €2,193 | +€294 | +15.5% |
| Gross operating margin | 9900 | €319,295 | €459,843 | +€140,548 | +44.0% |
| Operating profit (loss) | 9901 | €172,349 | €291,748 | +€119,399 | +69.3% |
| Financial income | 75/76B | - | €524 | +€524 | |
| Recurring financial income | 75 | - | €524 | +€524 | |
| Financial charges | 65/66B | €120 | €52 | -€68 | -56.3% |
| Recurring financial charges | 65 | €120 | €52 | -€68 | -56.3% |
| Profit (loss) for the period before taxes | 9903 | €172,229 | €292,219 | +€119,990 | +69.7% |
| Income taxes | 67/77 | €44,851 | €74,868 | +€30,018 | +66.9% |
| Profit (loss) for the period | 9904 | €127,378 | €217,351 | +€89,973 | +70.6% |
| Profit (loss) for the period to be appropriated | 9905 | €127,378 | €217,351 | +€89,973 | +70.6% |
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.