LAMI: 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.
LAMI
Largest movements
- Receivables within one year +€249,217
up €249,217 (+146.5%), from €170,136 to €419,354
of which Other amounts receivable: +€188,881
- Cash -€94,768
down €94,768 (-47.8%), from €198,159 to €103,391
mainly Receivables within one year (-€249,217) and Current investments (-€63,393)
- Current investments +€63,393
new in 2025: €63,393
- Debts after one year +€178,902
up €178,902 (+38.0%), from €470,604 to €649,506
- Current portion of long-term debt +€26,312
up €26,312 (+32.2%), from €81,603 to €107,915
- Gross operating margin -€462,255
down €462,255 (-82.8%), from €558,180 to €95,925
- Taxes -€109,516
down €109,516 (-97.4%), from €112,392 to €2,876
- Staff costs -€20,338
down €20,338 (-85.0%), from €23,917 to €3,579
- Other operating charges +€18,962
up €18,962 (+274.1%), from €6,919 to €25,881
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 | €1,034,224 | €1,239,720 | +€205,496 | +19.9% |
| Fixed assets | 21/28 | €665,233 | €651,947 | -€13,286 | -2.0% |
| Intangible fixed assets | 21 | €6,400 | - | -€6,400 | |
| Tangible fixed assets | 22/27 | €358,833 | €351,947 | -€6,886 | -1.9% |
| Land and buildings | 22 | €283,218 | €263,537 | -€19,681 | -6.9% |
| Plant, machinery and equipment | 23 | €54,237 | €54,839 | +€602 | +1.1% |
| Furniture and vehicles | 24 | €21,379 | €21,873 | +€494 | +2.3% |
| Other tangible fixed assets | 26 | - | €11,698 | +€11,698 | |
| Financial fixed assets | 28 | €300,000 | €300,000 | = | 0.0% |
| Current assets | 29/58 | €368,990 | €587,773 | +€218,782 | +59.3% |
| Amounts receivable within one year | 40/41 | €170,136 | €419,354 | +€249,217 | +146.5% |
| Trade receivables | 40 | €23,322 | €83,658 | +€60,336 | +258.7% |
| Other amounts receivable | 41 | €146,815 | €335,696 | +€188,881 | +128.7% |
| Current investments | 50/53 | - | €63,393 | +€63,393 | |
| Cash at bank and in hand | 54/58 | €198,159 | €103,391 | -€94,768 | -47.8% |
| Deferred charges and accrued income | 490/1 | €695 | €1,635 | +€939 | +135.1% |
| Total equity and liabilities | 10/49 | €1,034,224 | €1,239,720 | +€205,496 | +19.9% |
| Equity | 10/15 | €462,147 | €463,344 | +€1,196 | +0.3% |
| Contributions | 10/11 | €224,592 | €224,592 | = | 0.0% |
| Capital | 10 | €224,592 | €224,592 | = | 0.0% |
| Issued capital | 100 | €224,592 | €224,592 | = | 0.0% |
| Reserves | 13 | €237,556 | €238,752 | +€1,196 | +0.5% |
| Non-distributable reserves | 130/1 | €11,638 | €12,835 | +€1,196 | +10.3% |
| Legal reserve | 130 | €11,638 | €12,835 | +€1,196 | +10.3% |
| Distributable reserves | 133 | €225,918 | €225,918 | = | 0.0% |
| Amounts payable | 17/49 | €572,077 | €776,376 | +€204,299 | +35.7% |
| Amounts payable after more than one year | 17 | €470,604 | €649,506 | +€178,902 | +38.0% |
| Financial debts | 170/4 | €470,604 | €649,506 | +€178,902 | +38.0% |
| Amounts payable within one year | 42/48 | €101,473 | €126,870 | +€25,397 | +25.0% |
| Current portion of amounts payable after more than one year | 42 | €81,603 | €107,915 | +€26,312 | +32.2% |
| Trade debts | 44 | €2,430 | €4,782 | +€2,352 | +96.8% |
| Suppliers | 440/4 | €2,430 | €4,782 | +€2,352 | +96.8% |
| Taxes, remuneration and social security | 45 | €17,440 | €14,173 | -€3,267 | -18.7% |
| Taxes | 450/3 | €10,294 | €14,173 | +€3,879 | +37.7% |
| Remuneration and social security | 454/9 | €7,146 | - | -€7,146 | |
| Remuneration, social security and pensions | 62 | €23,917 | €3,579 | -€20,338 | -85.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,200 | €42,568 | +€4,368 | +11.4% |
| Other operating charges | 640/8 | €6,919 | €25,881 | +€18,962 | +274.1% |
| Gross operating margin | 9900 | €558,180 | €95,925 | -€462,255 | -82.8% |
| Operating profit (loss) | 9901 | €489,144 | €23,897 | -€465,247 | -95.1% |
| Financial income | 75/76B | €48 | €10 | -€38 | -78.7% |
| Recurring financial income | 75 | €48 | €10 | -€38 | -78.7% |
| Financial charges | 65/66B | €20,788 | €19,835 | -€953 | -4.6% |
| Recurring financial charges | 65 | €20,788 | €19,835 | -€953 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | €468,404 | €4,072 | -€464,332 | -99.1% |
| Income taxes | 67/77 | €112,392 | €2,876 | -€109,516 | -97.4% |
| Profit (loss) for the period | 9904 | €356,012 | €1,196 | -€354,816 | -99.7% |
| Profit (loss) for the period to be appropriated | 9905 | €356,012 | €1,196 | -€354,816 | -99.7% |
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 8 October 2026 via checked.be.