L.M.N.: 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.N.
Largest movements
- Tangible fixed assets -€19,803
down €19,803 (-23.8%), from €83,261 to €63,458
of which Furniture and vehicles: -€11,589
- Cash +€10,768
up €10,768 (+2.4%), from €454,283 to €465,051
mainly Depreciation (+€20,795) and Receivables within one year (+€4,644)
- Profit (loss) carried forward -€6,436
down €6,436 (-45.1%), from €14,263 to €7,827
- Gross operating margin -€309,606
down €309,606 (-95.2%), from €325,226 to €15,620
- Purchases and services -€9,632
down €9,632 (-51.7%), from €18,615 to €8,983
- Turnover -€5,971
down €5,971 (-19.5%), from €30,574 to €24,603
- Depreciation -€4,209
down €4,209 (-16.8%), from €25,004 to €20,795
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 | €548,497 | €534,818 | -€13,679 | -2.5% |
| Fixed assets | 21/28 | €83,261 | €63,458 | -€19,803 | -23.8% |
| Tangible fixed assets | 22/27 | €83,261 | €63,458 | -€19,803 | -23.8% |
| Land and buildings | 22 | €29,725 | €22,859 | -€6,866 | -23.1% |
| Plant, machinery and equipment | 23 | €9,764 | €8,416 | -€1,348 | -13.8% |
| Furniture and vehicles | 24 | €43,772 | €32,183 | -€11,589 | -26.5% |
| Current assets | 29/58 | €465,236 | €471,360 | +€6,124 | +1.3% |
| Stocks and contracts in progress | 3 | €2,317 | €2,317 | = | 0.0% |
| Stocks | 30/36 | €2,317 | €2,317 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €8,636 | €3,992 | -€4,644 | -53.8% |
| Trade receivables | 40 | - | €555 | +€555 | |
| Other amounts receivable | 41 | €8,636 | €3,437 | -€5,199 | -60.2% |
| Cash at bank and in hand | 54/58 | €454,283 | €465,051 | +€10,768 | +2.4% |
| Total equity and liabilities | 10/49 | €548,497 | €534,818 | -€13,679 | -2.5% |
| Equity | 10/15 | €360,920 | €350,713 | -€10,207 | -2.8% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €246,657 | €242,886 | -€3,771 | -1.5% |
| Non-distributable reserves | 130/1 | €7,935 | €7,935 | = | 0.0% |
| Legal reserve | 130 | €7,935 | €7,935 | = | 0.0% |
| Tax-exempt reserves | 132 | €238,722 | €234,951 | -€3,771 | -1.6% |
| Profit (loss) carried forward | 14 | €14,263 | €7,827 | -€6,436 | -45.1% |
| Provisions and deferred taxes | 16 | €80,831 | €78,317 | -€2,514 | -3.1% |
| Deferred taxes | 168 | €80,831 | €78,317 | -€2,514 | -3.1% |
| Amounts payable | 17/49 | €106,746 | €105,788 | -€958 | -0.9% |
| Amounts payable within one year | 42/48 | €106,746 | €105,788 | -€958 | -0.9% |
| Taxes, remuneration and social security | 45 | €2,117 | €1,539 | -€578 | -27.3% |
| Taxes | 450/3 | €2,117 | €1,539 | -€578 | -27.3% |
| Other amounts payable | 47/48 | €104,629 | €104,249 | -€380 | -0.4% |
| Turnover | 70 | €30,574 | €24,603 | -€5,971 | -19.5% |
| Non-recurring operating income | 76A | €313,267 | - | -€313,267 | |
| Goods, raw materials, services and sundry goods | 60/61 | €18,615 | €8,983 | -€9,632 | -51.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,004 | €20,795 | -€4,209 | -16.8% |
| Other operating charges | 640/8 | €3,835 | €3,311 | -€524 | -13.7% |
| Gross operating margin | 9900 | €325,226 | €15,620 | -€309,606 | -95.2% |
| Operating profit (loss) | 9901 | €296,387 | -€8,486 | -€304,873 | |
| Financial income | 75/76B | €406 | €1,207 | +€801 | +197% |
| Recurring financial income | 75 | €406 | €1,207 | +€801 | +197% |
| Financial charges | 65/66B | €5,376 | €5,132 | -€244 | -4.5% |
| Recurring financial charges | 65 | €5,376 | €5,132 | -€244 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | €291,417 | -€12,411 | -€303,828 | |
| Transfer from deferred taxes | 780 | €2,514 | €2,514 | = | 0.0% |
| Transfer to deferred taxes | 680 | €78,317 | - | -€78,317 | |
| Income taxes | 67/77 | €80 | €309 | +€229 | +286% |
| Profit (loss) for the period | 9904 | €215,534 | -€10,206 | -€225,740 | |
| Transfer from tax-exempt reserves | 789 | €3,771 | €3,771 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €234,950 | - | -€234,950 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,645 | -€6,435 | +€9,210 | +58.9% |
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 20 October 2026 via checked.be.