LBM: 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.
LBM
Largest movements
- Cash +€41,831
up €41,831 (+183%), from €22,881 to €64,712
mainly Net result for the year (+€78,787) and Tax, wage and social debts (+€2,227)
- Receivables within one year +€38,160
up €38,160 (+200%), from €19,099 to €57,259
of which Trade receivables: +€29,332
- Profit (loss) carried forward +€78,787
up €78,787 (+85.2%), from -€92,433 to -€13,646
- Tax, wage and social debts +€2,227
up €2,227 (+29.2%), from €7,619 to €9,846
- Gross operating margin +€56,554
up €56,554 (+195%), from €29,053 to €85,607
- Taxes +€6,172
new in 2025: €6,172
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €41,981 | €122,893 | +€80,912 | +193% |
| Fixed assets | 21/28 | - | €922 | +€922 | |
| Tangible fixed assets | 22/27 | - | €922 | +€922 | |
| Furniture and vehicles | 24 | - | €922 | +€922 | |
| Current assets | 29/58 | €41,981 | €121,971 | +€79,990 | +191% |
| Amounts receivable within one year | 40/41 | €19,099 | €57,259 | +€38,160 | +200% |
| Trade receivables | 40 | €19,099 | €48,431 | +€29,332 | +154% |
| Other amounts receivable | 41 | €0 | €8,828 | +€8,828 | |
| Cash at bank and in hand | 54/58 | €22,881 | €64,712 | +€41,831 | +183% |
| Total equity and liabilities | 10/49 | €41,981 | €122,893 | +€80,912 | +193% |
| Equity | 10/15 | €33,567 | €112,354 | +€78,787 | +235% |
| Contributions | 10/11 | €126,000 | €126,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€92,433 | -€13,646 | +€78,787 | +85.2% |
| Amounts payable | 17/49 | €8,414 | €10,539 | +€2,125 | +25.3% |
| Amounts payable within one year | 42/48 | €8,414 | €10,539 | +€2,125 | +25.3% |
| Trade debts | 44 | €455 | €672 | +€217 | +47.6% |
| Suppliers | 440/4 | €455 | €672 | +€217 | +47.6% |
| Taxes, remuneration and social security | 45 | €7,619 | €9,846 | +€2,227 | +29.2% |
| Taxes | 450/3 | €7,619 | €9,846 | +€2,227 | +29.2% |
| Other amounts payable | 47/48 | €340 | €21 | -€318 | -93.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €112 | +€112 | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €29,053 | €85,607 | +€56,554 | +195% |
| Operating profit (loss) | 9901 | €28,666 | €85,095 | +€56,430 | +197% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €117 | €136 | +€19 | +16.0% |
| Recurring financial charges | 65 | €117 | €136 | +€19 | +16.0% |
| Profit (loss) for the period before taxes | 9903 | €28,549 | €84,959 | +€56,411 | +198% |
| Income taxes | 67/77 | - | €6,172 | +€6,172 | |
| Profit (loss) for the period | 9904 | €28,549 | €78,787 | +€50,239 | +176% |
| Profit (loss) for the period to be appropriated | 9905 | €28,549 | €78,787 | +€50,239 | +176% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.