LASMER: 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.
LASMER
Largest movements
- Financial fixed assets -€1.0m
down €1.0m (-3.6%), from €28.7m to €27.7m
- Current investments +€790,901
up €790,901 (+17.8%), from €4.4m to €5.2m
- Cash -€599,351
down €599,351 (-94.9%), from €631,525 to €32,175
mainly Net result for the year (-€2.6m) and Current investments (-€790,901)
- Profit (loss) carried forward -€2.6m
down €2.6m, from €1.3m to -€1.3m
- Other debts +€2.4m
up €2.4m (+11.6%), from €21.0m to €23.5m
- Short-term financial debts -€500,000
down €500,000 (-6.7%), from €7.5m to €7.0m
- Financial charges +€2.9m
up €2.9m (+471.7%), from €614,295 to €3.5m
of which Non-recurring financial charges: +€2.3m
- Financial income +€593,478
up €593,478 (+68.7%), from €863,979 to €1.5m
of which Financial income: +€652,538
- Gross operating margin -€122,091
down €122,091 (-75.0%), from -€162,732 to -€284,823
- Other operating charges +€115,890
up €115,890 (+1885.7%), from €6,146 to €122,036
- Depreciation +€6,583
up €6,583 (+8.7%), from €75,379 to €81,962
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 | €37,507,270 | €36,374,123 | -€1.1m | -3.0% |
| Fixed assets | 21/28 | €31,349,328 | €30,324,354 | -€1.0m | -3.3% |
| Tangible fixed assets | 22/27 | €2,651,361 | €2,651,965 | +€604 | 0.0% |
| Land and buildings | 22 | €1,151,361 | €1,151,965 | +€604 | +0.1% |
| Furniture and vehicles | 24 | €1,500,000 | €1,500,000 | = | 0.0% |
| Financial fixed assets | 28 | €28,697,966 | €27,672,389 | -€1.0m | -3.6% |
| Current assets | 29/58 | €6,157,942 | €6,049,769 | -€108,174 | -1.8% |
| Stocks and contracts in progress | 3 | €77,868 | €77,868 | = | 0.0% |
| Stocks | 30/36 | €77,868 | €77,868 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,006,664 | €707,066 | -€299,598 | -29.8% |
| Trade receivables | 40 | €47,023 | €8,422 | -€38,601 | -82.1% |
| Other amounts receivable | 41 | €959,642 | €698,644 | -€260,997 | -27.2% |
| Current investments | 50/53 | €4,432,039 | €5,222,940 | +€790,901 | +17.8% |
| Cash at bank and in hand | 54/58 | €631,525 | €32,175 | -€599,351 | -94.9% |
| Deferred charges and accrued income | 490/1 | €9,846 | €9,720 | -€126 | -1.3% |
| Total equity and liabilities | 10/49 | €37,507,270 | €36,374,123 | -€1.1m | -3.0% |
| Equity | 10/15 | €6,619,129 | €4,060,073 | -€2.6m | -38.7% |
| Contributions | 10/11 | €4,800,000 | €4,800,000 | = | 0.0% |
| Capital | 10 | €4,800,000 | €4,800,000 | = | 0.0% |
| Issued capital | 100 | €4,800,000 | €4,800,000 | = | 0.0% |
| Reserves | 13 | €548,946 | €548,946 | = | 0.0% |
| Non-distributable reserves | 130/1 | €480,000 | €480,000 | = | 0.0% |
| Legal reserve | 130 | €480,000 | €480,000 | = | 0.0% |
| Distributable reserves | 133 | €68,946 | €68,946 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,270,183 | -€1,288,873 | -€2.6m | |
| Provisions and deferred taxes | 16 | €1,083,882 | €1,046,762 | -€37,121 | -3.4% |
| Provisions for liabilities and charges | 160/5 | €1,083,882 | €1,046,762 | -€37,121 | -3.4% |
| Other liabilities and charges | 164/5 | €1,083,882 | €1,046,762 | -€37,121 | -3.4% |
| Amounts payable | 17/49 | €29,804,259 | €31,267,288 | +€1.5m | +4.9% |
| Amounts payable after more than one year | 17 | €453,635 | €285,930 | -€167,705 | -37.0% |
| Financial debts | 170/4 | €453,635 | €285,930 | -€167,705 | -37.0% |
| Amounts payable within one year | 42/48 | €29,072,345 | €30,706,684 | +€1.6m | +5.6% |
| Current portion of amounts payable after more than one year | 42 | €390,041 | €167,705 | -€222,336 | -57.0% |
| Financial debts | 43 | €7,500,000 | €7,000,000 | -€500,000 | -6.7% |
| Credit institutions | 430/8 | €7,500,000 | €7,000,000 | -€500,000 | -6.7% |
| Trade debts | 44 | €125,306 | €29,989 | -€95,317 | -76.1% |
| Suppliers | 440/4 | €125,306 | €29,989 | -€95,317 | -76.1% |
| Taxes, remuneration and social security | 45 | €28,552 | €44,681 | +€16,130 | +56.5% |
| Taxes | 450/3 | €28,552 | €44,681 | +€16,130 | +56.5% |
| Other amounts payable | 47/48 | €21,028,446 | €23,464,308 | +€2.4m | +11.6% |
| Accrued charges and deferred income | 492/3 | €278,279 | €274,675 | -€3,604 | -1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,379 | €81,962 | +€6,583 | +8.7% |
| Other operating charges | 640/8 | €6,146 | €122,036 | +€115,890 | +1885.7% |
| Gross operating margin | 9900 | -€162,732 | -€284,823 | -€122,091 | -75.0% |
| Operating profit (loss) | 9901 | -€244,256 | -€488,821 | -€244,565 | -100.1% |
| Financial income | 75/76B | €863,979 | €1,457,457 | +€593,478 | +68.7% |
| Recurring financial income | 75 | €804,919 | €1,457,457 | +€652,538 | +81.1% |
| Non-recurring financial income | 76B | €59,060 | €0 | -€59,060 | -100.0% |
| Financial charges | 65/66B | €614,295 | €3,512,225 | +€2.9m | +471.7% |
| Recurring financial charges | 65 | €614,295 | €1,184,931 | +€570,636 | +92.9% |
| Non-recurring financial charges | 66B | €0 | €2,327,294 | +€2.3m | |
| Profit (loss) for the period before taxes | 9903 | €5,428 | -€2,543,588 | -€2.5m | |
| Income taxes | 67/77 | €14,625 | €15,468 | +€843 | +5.8% |
| Profit (loss) for the period | 9904 | -€9,197 | -€2,559,056 | -€2.5m | -27726.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,197 | -€2,559,056 | -€2.5m | -27726.4% |
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 4 October 2026 via checked.be.