LBM: 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.
LBM
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+129.5%), from €951,955 to €2.2m
of which Land and buildings: +€1.3m
- Cash -€447,750
down €447,750 (-67.9%), from €659,245 to €211,495
mainly Investment in fixed assets (net) (-€1.4m) and Current investments (-€200,000)
- Current investments +€200,000
new in 2025: €200,000
- Receivables within one year +€35,438
up €35,438 (+52.0%), from €68,147 to €103,586
of which Trade receivables: +€54,349
- Reserves +€792,532
up €792,532 (+68.1%), from €1.2m to €2.0m
of which Distributable reserves: +€792,532
- Debts after one year +€287,879
up €287,879 (+178.3%), from €161,458 to €449,337
- Tax, wage and social debts -€124,060
down €124,060 (-83.5%), from €148,587 to €24,527
of which Taxes: -€128,952
- Trade debts +€64,462
up €64,462 (+925.2%), from €6,968 to €71,429
- Gross operating margin +€462,962
up €462,962 (+53.7%), from €862,061 to €1.3m
- Taxes +€118,728
up €118,728 (+65.0%), from €182,738 to €301,466
- Depreciation +€64,792
up €64,792 (+114.9%), from €56,398 to €121,190
- Other operating charges +€19,796
up €19,796 (+91.3%), from €21,681 to €41,477
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 | €1,684,055 | €2,700,072 | +€1.0m | +60.3% |
| Fixed assets | 21/28 | €952,111 | €2,184,992 | +€1.2m | +129.5% |
| Tangible fixed assets | 22/27 | €951,955 | €2,184,835 | +€1.2m | +129.5% |
| Land and buildings | 22 | €643,954 | €1,901,066 | +€1.3m | +195.2% |
| Plant, machinery and equipment | 23 | €300,891 | €279,180 | -€21,711 | -7.2% |
| Furniture and vehicles | 24 | €7,110 | €4,589 | -€2,521 | -35.5% |
| Financial fixed assets | 28 | €157 | €157 | = | 0.0% |
| Current assets | 29/58 | €731,943 | €515,080 | -€216,863 | -29.6% |
| Amounts receivable within one year | 40/41 | €68,147 | €103,586 | +€35,438 | +52.0% |
| Trade receivables | 40 | €49,223 | €103,572 | +€54,349 | +110.4% |
| Other amounts receivable | 41 | €18,925 | €13 | -€18,911 | -99.9% |
| Current investments | 50/53 | - | €200,000 | +€200,000 | |
| Cash at bank and in hand | 54/58 | €659,245 | €211,495 | -€447,750 | -67.9% |
| Deferred charges and accrued income | 490/1 | €4,552 | €0 | -€4,552 | -100.0% |
| Total equity and liabilities | 10/49 | €1,684,055 | €2,700,072 | +€1.0m | +60.3% |
| Equity | 10/15 | €1,181,533 | €1,974,065 | +€792,532 | +67.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,162,933 | €1,955,465 | +€792,532 | +68.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €1,144,183 | €1,936,715 | +€792,532 | +69.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €502,522 | €726,007 | +€223,486 | +44.5% |
| Amounts payable after more than one year | 17 | €161,458 | €449,337 | +€287,879 | +178.3% |
| Financial debts | 170/4 | €161,458 | €449,337 | +€287,879 | +178.3% |
| Amounts payable within one year | 42/48 | €329,636 | €276,671 | -€52,965 | -16.1% |
| Current portion of amounts payable after more than one year | 42 | €37,997 | €35,419 | -€2,578 | -6.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €6,968 | €71,429 | +€64,462 | +925.2% |
| Suppliers | 440/4 | €6,968 | €71,429 | +€64,462 | +925.2% |
| Taxes, remuneration and social security | 45 | €148,587 | €24,527 | -€124,060 | -83.5% |
| Taxes | 450/3 | €135,018 | €6,066 | -€128,952 | -95.5% |
| Remuneration and social security | 454/9 | €13,569 | €18,460 | +€4,892 | +36.1% |
| Other amounts payable | 47/48 | €136,085 | €145,296 | +€9,211 | +6.8% |
| Accrued charges and deferred income | 492/3 | €11,428 | €0 | -€11,428 | -100.0% |
| Remuneration, social security and pensions | 62 | €60,605 | €63,299 | +€2,694 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,398 | €121,190 | +€64,792 | +114.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,027 | €0 | +€5,027 | |
| Other operating charges | 640/8 | €21,681 | €41,477 | +€19,796 | +91.3% |
| Gross operating margin | 9900 | €862,061 | €1,325,023 | +€462,962 | +53.7% |
| Operating profit (loss) | 9901 | €728,403 | €1,099,057 | +€370,653 | +50.9% |
| Financial income | 75/76B | €5,296 | €4,293 | -€1,003 | -18.9% |
| Recurring financial income | 75 | €5,296 | €4,293 | -€1,003 | -18.9% |
| Financial charges | 65/66B | €13,344 | €9,352 | -€3,992 | -29.9% |
| Recurring financial charges | 65 | €13,344 | €9,352 | -€3,992 | -29.9% |
| Profit (loss) for the period before taxes | 9903 | €720,356 | €1,093,998 | +€373,642 | +51.9% |
| Income taxes | 67/77 | €182,738 | €301,466 | +€118,728 | +65.0% |
| Profit (loss) for the period | 9904 | €537,618 | €792,532 | +€254,914 | +47.4% |
| Profit (loss) for the period to be appropriated | 9905 | €537,618 | €792,532 | +€254,914 | +47.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.