L & M IMMO: 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 IMMO
Largest movements
- Tangible fixed assets -€79,498
down €79,498 (-5.9%), from €1.3m to €1.3m
of which Land and buildings: -€49,477
- Cash -€46,365
down €46,365 (-31.4%), from €147,540 to €101,174
mainly Debts after one year (-€102,917) and Receivables within one year (-€18,093)
- Receivables within one year +€18,093
up €18,093 (+112%), from €16,154 to €34,246
- Debts after one year -€102,917
down €102,917 (-23.1%), from €445,988 to €343,071
of which Financial debts: -€102,917
- Financial charges -€3,866
down €3,866 (-16.8%), from €23,011 to €19,146
- Gross operating margin +€2,931
up €2,931 (+2.2%), from €130,501 to €133,432
- Depreciation +€1,938
up €1,938 (+2.5%), from €77,560 to €79,498
- Taxes +€1,587
up €1,587 (+126%), from €1,257 to €2,844
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 | €1,503,491 | €1,400,120 | -€103,371 | -6.9% |
| Fixed assets | 21/28 | €1,339,798 | €1,264,699 | -€75,098 | -5.6% |
| Tangible fixed assets | 22/27 | €1,339,798 | €1,260,299 | -€79,498 | -5.9% |
| Land and buildings | 22 | €1,183,463 | €1,133,986 | -€49,477 | -4.2% |
| Plant, machinery and equipment | 23 | €137,652 | €112,191 | -€25,462 | -18.5% |
| Furniture and vehicles | 24 | €18,682 | €14,123 | -€4,560 | -24.4% |
| Financial fixed assets | 28 | - | €4,400 | +€4,400 | |
| Current assets | 29/58 | €163,693 | €135,420 | -€28,273 | -17.3% |
| Amounts receivable within one year | 40/41 | €16,154 | €34,246 | +€18,093 | +112% |
| Other amounts receivable | 41 | €16,154 | €34,246 | +€18,093 | +112% |
| Cash at bank and in hand | 54/58 | €147,540 | €101,174 | -€46,365 | -31.4% |
| Total equity and liabilities | 10/49 | €1,503,491 | €1,400,120 | -€103,371 | -6.9% |
| Equity | 10/15 | €903,004 | €909,521 | +€6,517 | +0.7% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €835,197 | €847,197 | +€12,000 | +1.4% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €829,000 | €841,000 | +€12,000 | +1.4% |
| Profit (loss) carried forward | 14 | €5,834 | €351 | -€5,483 | -94.0% |
| Amounts payable | 17/49 | €600,486 | €490,598 | -€109,888 | -18.3% |
| Amounts payable after more than one year | 17 | €445,988 | €343,071 | -€102,917 | -23.1% |
| Financial debts | 170/4 | €102,917 | - | -€102,917 | |
| Other amounts payable | 178/9 | €343,071 | €343,071 | = | 0.0% |
| Amounts payable within one year | 42/48 | €146,732 | €144,175 | -€2,557 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €119,236 | €112,181 | -€7,055 | -5.9% |
| Financial debts | 43 | €1,718 | €3,412 | +€1,694 | +98.6% |
| Credit institutions | 430/8 | €1,718 | €3,412 | +€1,694 | +98.6% |
| Trade debts | 44 | €2,847 | €3,966 | +€1,119 | +39.3% |
| Suppliers | 440/4 | €2,847 | €3,966 | +€1,119 | +39.3% |
| Taxes, remuneration and social security | 45 | €8,595 | €8,081 | -€515 | -6.0% |
| Taxes | 450/3 | €8,595 | €8,081 | -€515 | -6.0% |
| Other amounts payable | 47/48 | €14,336 | €16,536 | +€2,200 | +15.3% |
| Accrued charges and deferred income | 492/3 | €7,766 | €3,352 | -€4,413 | -56.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,560 | €79,498 | +€1,938 | +2.5% |
| Other operating charges | 640/8 | €25,730 | €25,427 | -€303 | -1.2% |
| Gross operating margin | 9900 | €130,501 | €133,432 | +€2,931 | +2.2% |
| Operating profit (loss) | 9901 | €27,211 | €28,506 | +€1,296 | +4.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €23,011 | €19,146 | -€3,866 | -16.8% |
| Recurring financial charges | 65 | €23,011 | €19,146 | -€3,866 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | €4,199 | €9,361 | +€5,161 | +123% |
| Income taxes | 67/77 | €1,257 | €2,844 | +€1,587 | +126% |
| Profit (loss) for the period | 9904 | €2,943 | €6,517 | +€3,574 | +121% |
| Profit (loss) for the period to be appropriated | 9905 | €2,943 | €6,517 | +€3,574 | +121% |
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 16 October 2026 via checked.be.