L&M Services: 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 Services
Largest movements
- Tangible fixed assets -€46,893
down €46,893 (-11.9%), from €392,771 to €345,877
of which Furniture and vehicles: -€28,741
- Receivables within one year +€42,841
up €42,841 (+114%), from €37,527 to €80,368
of which Trade receivables: +€34,253
- Stocks and contracts +€33,156
up €33,156 (+338%), from €9,800 to €42,956
of which Contracts in progress: +€32,892
- Deferred charges and accrued income +€16,607
up €16,607 (+591%), from €2,811 to €19,418
- Cash +€12,691
up €12,691 (+5.9%), from €215,345 to €228,036
mainly Other debts (+€166,617) and Net result for the year (+€75,818)
- Other debts +€166,617
up €166,617 (+2,557%), from €6,517 to €173,133
- Tax, wage and social debts -€63,770
down €63,770 (-87.5%), from €72,887 to €9,116
- Reserves -€60,535
down €60,535 (-18.7%), from €323,661 to €263,126
- Debts after one year -€20,647
down €20,647 (-10.1%), from €204,027 to €183,380
- Accrued charges and deferred income +€20,317
up €20,317 (+513%), from €3,963 to €24,280
- Gross operating margin +€22,276
up €22,276 (+15.3%), from €145,572 to €167,848
- Taxes +€5,517
up €5,517 (+22.7%), from €24,337 to €29,853
- Depreciation +€3,501
up €3,501 (+7.1%), from €49,149 to €52,649
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 | €658,253 | €716,655 | +€58,401 | +8.9% |
| Fixed assets | 21/28 | €392,771 | €345,877 | -€46,893 | -11.9% |
| Tangible fixed assets | 22/27 | €392,771 | €345,877 | -€46,893 | -11.9% |
| Land and buildings | 22 | €310,508 | €294,293 | -€16,215 | -5.2% |
| Plant, machinery and equipment | 23 | €11,654 | €9,717 | -€1,937 | -16.6% |
| Furniture and vehicles | 24 | €70,608 | €41,867 | -€28,741 | -40.7% |
| Current assets | 29/58 | €265,483 | €370,777 | +€105,294 | +39.7% |
| Stocks and contracts in progress | 3 | €9,800 | €42,956 | +€33,156 | +338% |
| Stocks | 30/36 | €9,800 | €10,064 | +€264 | +2.7% |
| Contracts in progress | 37 | - | €32,892 | +€32,892 | |
| Amounts receivable within one year | 40/41 | €37,527 | €80,368 | +€42,841 | +114% |
| Trade receivables | 40 | €37,029 | €71,282 | +€34,253 | +92.5% |
| Other amounts receivable | 41 | €498 | €9,086 | +€8,588 | +1,723% |
| Cash at bank and in hand | 54/58 | €215,345 | €228,036 | +€12,691 | +5.9% |
| Deferred charges and accrued income | 490/1 | €2,811 | €19,418 | +€16,607 | +591% |
| Total equity and liabilities | 10/49 | €658,253 | €716,655 | +€58,401 | +8.9% |
| Equity | 10/15 | €324,661 | €264,126 | -€60,535 | -18.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €323,661 | €263,126 | -€60,535 | -18.7% |
| Distributable reserves | 133 | €323,661 | €263,126 | -€60,535 | -18.7% |
| Amounts payable | 17/49 | €333,592 | €452,529 | +€118,936 | +35.7% |
| Amounts payable after more than one year | 17 | €204,027 | €183,380 | -€20,647 | -10.1% |
| Financial debts | 170/4 | €204,027 | €183,380 | -€20,647 | -10.1% |
| Amounts payable within one year | 42/48 | €125,602 | €244,869 | +€119,266 | +95.0% |
| Current portion of amounts payable after more than one year | 42 | €25,625 | €20,647 | -€4,978 | -19.4% |
| Trade debts | 44 | €13,539 | €31,519 | +€17,979 | +133% |
| Suppliers | 440/4 | €13,539 | €31,519 | +€17,979 | +133% |
| Advances received on contracts in progress | 46 | €7,034 | €10,453 | +€3,419 | +48.6% |
| Taxes, remuneration and social security | 45 | €72,887 | €9,116 | -€63,770 | -87.5% |
| Taxes | 450/3 | €72,887 | €9,116 | -€63,770 | -87.5% |
| Other amounts payable | 47/48 | €6,517 | €173,133 | +€166,617 | +2,557% |
| Accrued charges and deferred income | 492/3 | €3,963 | €24,280 | +€20,317 | +513% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,149 | €52,649 | +€3,501 | +7.1% |
| Other operating charges | 640/8 | €738 | €1,087 | +€348 | +47.2% |
| Gross operating margin | 9900 | €145,572 | €167,848 | +€22,276 | +15.3% |
| Operating profit (loss) | 9901 | €95,685 | €114,112 | +€18,426 | +19.3% |
| Financial income | 75/76B | €859 | €362 | -€497 | -57.9% |
| Recurring financial income | 75 | €859 | €362 | -€497 | -57.9% |
| Financial charges | 65/66B | €8,902 | €8,802 | -€99 | -1.1% |
| Recurring financial charges | 65 | €8,902 | €8,802 | -€99 | -1.1% |
| Profit (loss) for the period before taxes | 9903 | €87,642 | €105,671 | +€18,029 | +20.6% |
| Income taxes | 67/77 | €24,337 | €29,853 | +€5,517 | +22.7% |
| Profit (loss) for the period | 9904 | €63,306 | €75,818 | +€12,512 | +19.8% |
| Profit (loss) for the period to be appropriated | 9905 | €63,306 | €75,818 | +€12,512 | +19.8% |
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.