L.P.M: 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.P.M
Largest movements
- Cash +€263,850
up €263,850 (+7,952%), from €3,318 to €267,168
mainly Debts after one year (+€274,755) and Receivables after one year (+€252,178)
- Tangible fixed assets +€253,924
up €253,924 (+5.2%), from €4.9m to €5.2m
- Receivables after one year -€252,178
down €252,178 (-9.9%), from €2.6m to €2.3m
- Receivables within one year +€144,689
up €144,689 (+130%), from €111,485 to €256,174
of which Other amounts receivable: +€173,286
- Debts after one year +€274,755
up €274,755 (+4.5%), from €6.1m to €6.4m
of which Financial debts: +€673,567
- Other debts +€119,954
up €119,954 (+23.1%), from €520,000 to €639,954
- Gross operating margin +€263,492
up €263,492 (+465%), from €56,658 to €320,150
- Financial charges +€127,753
up €127,753 (+59.2%), from €215,871 to €343,625
- Financial income +€80,239
up €80,239 (+52.7%), from €152,375 to €232,614
- Depreciation -€21,422
down €21,422 (-14.1%), from €152,227 to €130,805
- Other operating charges -€4,779
down €4,779 (-30.7%), from €15,582 to €10,803
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 | €7,672,727 | €8,082,652 | +€409,925 | +5.3% |
| Fixed assets | 21/28 | €4,975,345 | €5,229,269 | +€253,924 | +5.1% |
| Tangible fixed assets | 22/27 | €4,913,345 | €5,167,269 | +€253,924 | +5.2% |
| Land and buildings | 22 | €4,913,345 | €5,167,269 | +€253,924 | +5.2% |
| Financial fixed assets | 28 | €62,000 | €62,000 | = | 0.0% |
| Current assets | 29/58 | €2,697,382 | €2,853,383 | +€156,001 | +5.8% |
| Amounts receivable after more than one year | 29 | €2,551,806 | €2,299,628 | -€252,178 | -9.9% |
| Other amounts receivable | 291 | €2,551,806 | €2,299,628 | -€252,178 | -9.9% |
| Amounts receivable within one year | 40/41 | €111,485 | €256,174 | +€144,689 | +130% |
| Trade receivables | 40 | €33,597 | €5,000 | -€28,597 | -85.1% |
| Other amounts receivable | 41 | €77,887 | €251,174 | +€173,286 | +222% |
| Cash at bank and in hand | 54/58 | €3,318 | €267,168 | +€263,850 | +7,952% |
| Deferred charges and accrued income | 490/1 | €30,773 | €30,413 | -€360 | -1.2% |
| Total equity and liabilities | 10/49 | €7,672,727 | €8,082,652 | +€409,925 | +5.3% |
| Equity | 10/15 | €889,083 | €850,170 | -€38,913 | -4.4% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €5,000 | €5,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €834,083 | €795,170 | -€38,913 | -4.7% |
| Amounts payable | 17/49 | €6,783,644 | €7,232,482 | +€448,838 | +6.6% |
| Amounts payable after more than one year | 17 | €6,088,019 | €6,362,775 | +€274,755 | +4.5% |
| Financial debts | 170/4 | €3,090,292 | €3,763,859 | +€673,567 | +21.8% |
| Other amounts payable | 178/9 | €2,997,727 | €2,598,916 | -€398,811 | -13.3% |
| Amounts payable within one year | 42/48 | €670,789 | €862,812 | +€192,023 | +28.6% |
| Current portion of amounts payable after more than one year | 42 | €143,886 | €214,458 | +€70,573 | +49.0% |
| Trade debts | 44 | €6,904 | €3,045 | -€3,859 | -55.9% |
| Suppliers | 440/4 | €6,904 | €3,045 | -€3,859 | -55.9% |
| Taxes, remuneration and social security | 45 | - | €5,355 | +€5,355 | |
| Taxes | 450/3 | - | €5,355 | +€5,355 | |
| Other amounts payable | 47/48 | €520,000 | €639,954 | +€119,954 | +23.1% |
| Accrued charges and deferred income | 492/3 | €24,836 | €6,896 | -€17,940 | -72.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €152,227 | €130,805 | -€21,422 | -14.1% |
| Other operating charges | 640/8 | €15,582 | €10,803 | -€4,779 | -30.7% |
| Non-recurring operating charges | 66A | €20,000 | €106,443 | +€86,443 | +432% |
| Gross operating margin | 9900 | €56,658 | €320,150 | +€263,492 | +465% |
| Operating profit (loss) | 9901 | -€131,151 | €72,098 | +€203,249 | |
| Financial income | 75/76B | €152,375 | €232,614 | +€80,239 | +52.7% |
| Recurring financial income | 75 | €152,375 | €232,614 | +€80,239 | +52.7% |
| Financial charges | 65/66B | €215,871 | €343,625 | +€127,753 | +59.2% |
| Recurring financial charges | 65 | €215,871 | €343,625 | +€127,753 | +59.2% |
| Profit (loss) for the period before taxes | 9903 | -€194,647 | -€38,913 | +€155,735 | +80.0% |
| Profit (loss) for the period | 9904 | -€194,647 | -€38,913 | +€155,735 | +80.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€194,647 | -€38,913 | +€155,735 | +80.0% |
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 22 October 2026 via checked.be.