LAHAMA: what changed
Two fiscal 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.
LAHAMA
Largest movements
- Tangible fixed assets +€106,998
up €106,998 (+7.3%), from €1.5m to €1.6m
of which Furniture and vehicles: +€89,745
- Receivables within one year -€65,897
down €65,897 (-57.8%), from €113,979 to €48,083
of which Other amounts receivable: -€36,831
- Cash -€42,820
down €42,820 (-20.6%), from €207,845 to €165,026
mainly Investment in fixed assets (net) (-€136,458) and Current investments (-€30,444)
- Current investments +€30,444
up €30,444 (+10.2%), from €298,200 to €328,644
- Tax, wage and social debts -€23,763
down €23,763 (-84.4%), from €28,168 to €4,405
- Reserves +€22,738
up €22,738 (+11.1%), from €204,903 to €227,641
of which Distributable reserves: +€21,495
- Gross operating margin -€14,590
down €14,590 (-9.5%), from €153,087 to €138,497
- Other operating charges +€9,373
up €9,373 (+69.1%), from €13,557 to €22,930
- Financial charges -€8,890
down €8,890 (-11.6%), from €76,871 to €67,981
- Taxes -€4,717
down €4,717 (-31.2%), from €15,118 to €10,401
- Financial income +€1,981
up €1,981 (+15.2%), from €13,032 to €15,013
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.
Cash bridge derived
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 | €2,118,561 | €2,131,738 | +€13,178 | +0.6% |
| Fixed assets | 21/28 | €1,473,459 | €1,580,457 | +€106,998 | +7.3% |
| Tangible fixed assets | 22/27 | €1,473,459 | €1,580,457 | +€106,998 | +7.3% |
| Land and buildings | 22 | €945,180 | €966,965 | +€21,785 | +2.3% |
| Plant, machinery and equipment | 23 | €528,279 | €523,747 | -€4,532 | -0.9% |
| Furniture and vehicles | 24 | - | €89,745 | +€89,745 | |
| Current assets | 29/58 | €645,102 | €551,281 | -€93,821 | -14.5% |
| Amounts receivable within one year | 40/41 | €113,979 | €48,083 | -€65,897 | -57.8% |
| Trade receivables | 40 | €30,929 | €1,863 | -€29,066 | -94.0% |
| Other amounts receivable | 41 | €83,050 | €46,219 | -€36,831 | -44.3% |
| Current investments | 50/53 | €298,200 | €328,644 | +€30,444 | +10.2% |
| Cash at bank and in hand | 54/58 | €207,845 | €165,026 | -€42,820 | -20.6% |
| Deferred charges and accrued income | 490/1 | €25,077 | €9,529 | -€15,548 | -62.0% |
| Total equity and liabilities | 10/49 | €2,118,561 | €2,131,738 | +€13,178 | +0.6% |
| Equity | 10/15 | €1,077,488 | €1,100,226 | +€22,738 | +2.1% |
| Contributions | 10/11 | €872,585 | €872,585 | = | 0.0% |
| Capital | 10 | €872,585 | €872,585 | = | 0.0% |
| Issued capital | 100 | €872,585 | €872,585 | = | 0.0% |
| Reserves | 13 | €204,903 | €227,641 | +€22,738 | +11.1% |
| Non-distributable reserves | 130/1 | €10,235 | €11,478 | +€1,243 | +12.1% |
| Legal reserve | 130 | €10,235 | €11,478 | +€1,243 | +12.1% |
| Distributable reserves | 133 | €194,668 | €216,163 | +€21,495 | +11.0% |
| Amounts payable | 17/49 | €1,041,072 | €1,031,512 | -€9,560 | -0.9% |
| Amounts payable within one year | 42/48 | €985,381 | €963,741 | -€21,639 | -2.2% |
| Trade debts | 44 | €0 | €2,123 | +€2,123 | |
| Suppliers | 440/4 | €0 | €2,123 | +€2,123 | |
| Taxes, remuneration and social security | 45 | €28,168 | €4,405 | -€23,763 | -84.4% |
| Taxes | 450/3 | €28,168 | €4,405 | -€23,763 | -84.4% |
| Other amounts payable | 47/48 | €957,213 | €957,213 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €55,692 | €67,771 | +€12,079 | +21.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,675 | €29,460 | +€1,785 | +6.4% |
| Other operating charges | 640/8 | €13,557 | €22,930 | +€9,373 | +69.1% |
| Gross operating margin | 9900 | €153,087 | €138,497 | -€14,590 | -9.5% |
| Operating profit (loss) | 9901 | €111,855 | €86,107 | -€25,748 | -23.0% |
| Financial income | 75/76B | €13,032 | €15,013 | +€1,981 | +15.2% |
| Recurring financial income | 75 | €13,032 | €15,013 | +€1,981 | +15.2% |
| Financial charges | 65/66B | €76,871 | €67,981 | -€8,890 | -11.6% |
| Recurring financial charges | 65 | €76,871 | €67,981 | -€8,890 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | €48,016 | €33,139 | -€14,877 | -31.0% |
| Income taxes | 67/77 | €15,118 | €10,401 | -€4,717 | -31.2% |
| Profit (loss) for the period | 9904 | €32,898 | €22,738 | -€10,160 | -30.9% |
| Profit (loss) for the period to be appropriated | 9905 | €32,898 | €22,738 | -€10,160 | -30.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.