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
- Tangible fixed assets -€24,758
down €24,758 (-8.1%), from €304,934 to €280,176
- Receivables within one year +€9,986
up €9,986 (+25.5%), from €39,193 to €49,179
of which Other amounts receivable: +€9,636
- Other debts +€72,609
new in 2025: €72,609
- Reserves -€60,573
down €60,573 (-58.9%), from €102,816 to €42,244
- Debts after one year -€28,682
down €28,682 (-12.7%), from €226,132 to €197,451
- Current portion of long-term debt +€8,111
up €8,111 (+30.1%), from €26,991 to €35,102
- Tax, wage and social debts -€6,953
down €6,953 (-55.3%), from €12,568 to €5,615
- Gross operating margin +€5,238
up €5,238 (+9.8%), from €53,697 to €58,935
- Depreciation -€2,742
down €2,742 (-10.0%), from €27,501 to €24,758
- Taxes +€906
up €906 (+9.1%), from €9,953 to €10,858
- Financial charges -€761
down €761 (-7.4%), from €10,272 to €9,511
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 | €353,955 | €338,479 | -€15,476 | -4.4% |
| Fixed assets | 21/28 | €304,934 | €280,176 | -€24,758 | -8.1% |
| Tangible fixed assets | 22/27 | €304,934 | €280,176 | -€24,758 | -8.1% |
| Land and buildings | 22 | €304,934 | €280,176 | -€24,758 | -8.1% |
| Current assets | 29/58 | €49,020 | €58,302 | +€9,282 | +18.9% |
| Amounts receivable within one year | 40/41 | €39,193 | €49,179 | +€9,986 | +25.5% |
| Trade receivables | 40 | €3,171 | €3,521 | +€350 | +11.0% |
| Other amounts receivable | 41 | €36,022 | €45,658 | +€9,636 | +26.7% |
| Cash at bank and in hand | 54/58 | €6,714 | €7,939 | +€1,226 | +18.3% |
| Deferred charges and accrued income | 490/1 | €3,114 | €1,185 | -€1,929 | -62.0% |
| Total equity and liabilities | 10/49 | €353,955 | €338,479 | -€15,476 | -4.4% |
| Equity | 10/15 | €83,545 | €22,972 | -€60,573 | -72.5% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €102,816 | €42,244 | -€60,573 | -58.9% |
| Distributable reserves | 133 | €102,816 | €42,244 | -€60,573 | -58.9% |
| Profit (loss) carried forward | 14 | -€25,571 | -€25,571 | = | 0.0% |
| Amounts payable | 17/49 | €270,410 | €315,506 | +€45,096 | +16.7% |
| Amounts payable after more than one year | 17 | €226,132 | €197,451 | -€28,682 | -12.7% |
| Financial debts | 170/4 | €226,132 | €197,451 | -€28,682 | -12.7% |
| Amounts payable within one year | 42/48 | €44,277 | €118,056 | +€73,778 | +167% |
| Current portion of amounts payable after more than one year | 42 | €26,991 | €35,102 | +€8,111 | +30.1% |
| Trade debts | 44 | €4,718 | €4,729 | +€11 | +0.2% |
| Suppliers | 440/4 | €4,718 | €4,729 | +€11 | +0.2% |
| Taxes, remuneration and social security | 45 | €12,568 | €5,615 | -€6,953 | -55.3% |
| Taxes | 450/3 | €12,568 | €5,615 | -€6,953 | -55.3% |
| Other amounts payable | 47/48 | - | €72,609 | +€72,609 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,501 | €24,758 | -€2,742 | -10.0% |
| Other operating charges | 640/8 | €2,149 | €2,296 | +€147 | +6.8% |
| Gross operating margin | 9900 | €53,697 | €58,935 | +€5,238 | +9.8% |
| Operating profit (loss) | 9901 | €24,048 | €31,881 | +€7,833 | +32.6% |
| Financial income | 75/76B | €461 | €525 | +€64 | +13.8% |
| Recurring financial income | 75 | €461 | €525 | +€64 | +13.8% |
| Financial charges | 65/66B | €10,272 | €9,511 | -€761 | -7.4% |
| Recurring financial charges | 65 | €10,272 | €9,511 | -€761 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €14,237 | €22,895 | +€8,658 | +60.8% |
| Income taxes | 67/77 | €9,953 | €10,858 | +€906 | +9.1% |
| Profit (loss) for the period | 9904 | €4,285 | €12,037 | +€7,752 | +181% |
| Profit (loss) for the period to be appropriated | 9905 | €4,285 | €12,037 | +€7,752 | +181% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.