LAMI: 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.
What changed
LAMI
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2.1m
2024 · €707,222+€1.3m
Equity
€5.7m
2024 · €3.7m+€2.1m
Cash
€23,560
2024 · €25,792-€2,232
Balance sheet total
€9.6m
2024 · €7.6m+€1.9m
Largest movements
Assets
- Receivables within one year +€2.0m
up €2.0m (+187%), from €1.0m to €3.0m
Equity and liabilities
- Profit (loss) carried forward +€1.9m
up €1.9m (+99.8%), from €1.9m to €3.8m
- Debts after one year -€219,806
down €219,806 (-12.7%), from €1.7m to €1.5m
- Reserves +€152,687
up €152,687 (+8.7%), from €1.8m to €1.9m
of which Distributable reserves: +€152,687
Income statement
- Gross operating margin +€1.3m
up €1.3m (+117%), from €1.1m to €2.3m
- Taxes -€70,571
down €70,571 (-67.5%), from €104,590 to €34,019
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.
Result 2024
€707,222
Gross operating margin
+€1.3m
Staff costs
-€1,231
Other operating charges
-€533
Financial charges
+€13,003
Taxes
+€70,571
Result 2025
€2.1m
raises the resultlowers the result
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.
From operations
+€229,259
Investment
€0
Financing
-€231,491
Cash 2024
€25,792
From operations (derived)
+€229,259
Net result for the year
+€2.1m
Depreciation
+€17,980
Receivables within one year
-€2.0m
Smaller working-capital items
-€1,447
Provisions
-€14,224
Tax, wage and social debts
-€34,129
Advances received
+€83,300
Other debts
+€80,509
Financing
-€231,491
Debts after one year
-€219,806
Current portion of long-term debt
-€11,685
Cash 2025
€23,560
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,638,062 | €9,574,045 | +€1.9m | +25.3% |
| Fixed assets | 21/28 | €6,565,565 | €6,547,585 | -€17,980 | -0.3% |
| Tangible fixed assets | 22/27 | €65,565 | €47,585 | -€17,980 | -27.4% |
| Furniture and vehicles | 24 | €65,565 | €47,585 | -€17,980 | -27.4% |
| Financial fixed assets | 28 | €6,500,000 | €6,500,000 | = | 0.0% |
| Current assets | 29/58 | €1,072,496 | €3,026,459 | +€2.0m | +182% |
| Amounts receivable within one year | 40/41 | €1,044,657 | €3,000,075 | +€2.0m | +187% |
| Other amounts receivable | 41 | €1,044,657 | €3,000,075 | +€2.0m | +187% |
| Cash at bank and in hand | 54/58 | €25,792 | €23,560 | -€2,232 | -8.7% |
| Deferred charges and accrued income | 490/1 | €2,047 | €2,824 | +€777 | +38.0% |
| Total equity and liabilities | 10/49 | €7,638,062 | €9,574,045 | +€1.9m | +25.3% |
| Equity | 10/15 | €3,685,608 | €5,738,296 | +€2.1m | +55.7% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Capital | 10 | €18,750 | €18,750 | = | 0.0% |
| Issued capital | 100 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €1,763,848 | €1,916,535 | +€152,687 | +8.7% |
| Non-distributable reserves | 130/1 | €1,875 | €1,875 | = | 0.0% |
| Legal reserve | 130 | €1,875 | €1,875 | = | 0.0% |
| Distributable reserves | 133 | €1,761,973 | €1,914,660 | +€152,687 | +8.7% |
| Profit (loss) carried forward | 14 | €1,903,010 | €3,803,010 | +€1.9m | +99.8% |
| Provisions and deferred taxes | 16 | €14,224 | - | -€14,224 | |
| Provisions for liabilities and charges | 160/5 | €14,224 | - | -€14,224 | |
| Pensions and similar obligations | 160 | €14,224 | - | -€14,224 | |
| Amounts payable | 17/49 | €3,938,229 | €3,835,749 | -€102,480 | -2.6% |
| Amounts payable after more than one year | 17 | €1,724,324 | €1,504,519 | -€219,806 | -12.7% |
| Financial debts | 170/4 | €1,724,324 | €1,504,519 | -€219,806 | -12.7% |
| Amounts payable within one year | 42/48 | €2,213,905 | €2,331,230 | +€117,325 | +5.3% |
| Current portion of amounts payable after more than one year | 42 | €145,218 | €133,533 | -€11,685 | -8.0% |
| Trade debts | 44 | €4,790 | €4,119 | -€670 | -14.0% |
| Suppliers | 440/4 | €4,790 | €4,119 | -€670 | -14.0% |
| Advances received on contracts in progress | 46 | - | €83,300 | +€83,300 | |
| Taxes, remuneration and social security | 45 | €99,435 | €65,306 | -€34,129 | -34.3% |
| Taxes | 450/3 | €93,872 | €44,960 | -€48,913 | -52.1% |
| Remuneration and social security | 454/9 | €5,563 | €20,347 | +€14,784 | +266% |
| Other amounts payable | 47/48 | €1,964,462 | €2,044,972 | +€80,509 | +4.1% |
| Remuneration, social security and pensions | 62 | €135,127 | €136,359 | +€1,231 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,980 | €17,980 | = | 0.0% |
| Other operating charges | 640/8 | €1,022 | €1,555 | +€533 | +52.2% |
| Gross operating margin | 9900 | €1,076,777 | €2,340,433 | +€1.3m | +117% |
| Operating profit (loss) | 9901 | €922,648 | €2,184,539 | +€1.3m | +137% |
| Financial charges | 65/66B | €110,835 | €97,832 | -€13,003 | -11.7% |
| Recurring financial charges | 65 | €110,835 | €97,832 | -€13,003 | -11.7% |
| Profit (loss) for the period before taxes | 9903 | €811,812 | €2,086,706 | +€1.3m | +157% |
| Income taxes | 67/77 | €104,590 | €34,019 | -€70,571 | -67.5% |
| Profit (loss) for the period | 9904 | €707,222 | €2,052,687 | +€1.3m | +190% |
| Profit (loss) for the period to be appropriated | 9905 | €707,222 | €2,052,687 | +€1.3m | +190% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.