LBMDS: 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.
LBMDS
Largest movements
- Cash +€27,763
up €27,763 (+9.4%), from €295,400 to €323,163
mainly Net result for the year (+€190,652) and Other debts (+€34,778)
- Deferred charges and accrued income +€26,991
up €26,991 (+27.2%), from €99,231 to €126,222
- Reserves +€35,652
up €35,652 (+35.1%), from €101,592 to €137,245
- Other debts +€34,778
up €34,778 (+13.3%), from €261,656 to €296,434
- Short-term financial debts -€17,951
down €17,951 (-100%), from €17,951 to €0
- Gross operating margin +€27,859
up €27,859 (+12.0%), from €232,141 to €260,000
- Taxes +€7,236
up €7,236 (+13.6%), from €53,153 to €60,389
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 | €397,072 | €450,521 | +€53,449 | +13.5% |
| Fixed assets | 21/28 | €2,441 | €1,136 | -€1,305 | -53.5% |
| Tangible fixed assets | 22/27 | €2,441 | €1,136 | -€1,305 | -53.5% |
| Furniture and vehicles | 24 | €2,441 | €1,136 | -€1,305 | -53.5% |
| Current assets | 29/58 | €394,631 | €449,385 | +€54,754 | +13.9% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €295,400 | €323,163 | +€27,763 | +9.4% |
| Deferred charges and accrued income | 490/1 | €99,231 | €126,222 | +€26,991 | +27.2% |
| Total equity and liabilities | 10/49 | €397,072 | €450,521 | +€53,449 | +13.5% |
| Equity | 10/15 | €106,592 | €142,245 | +€35,652 | +33.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €101,592 | €137,245 | +€35,652 | +35.1% |
| Distributable reserves | 133 | €101,592 | €137,245 | +€35,652 | +35.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €290,480 | €308,276 | +€17,796 | +6.1% |
| Amounts payable within one year | 42/48 | €282,598 | €301,451 | +€18,853 | +6.7% |
| Financial debts | 43 | €17,951 | €0 | -€17,951 | -100% |
| Credit institutions | 430/8 | €17,951 | €0 | -€17,951 | -100% |
| Trade debts | 44 | €2,837 | €1,975 | -€862 | -30.4% |
| Suppliers | 440/4 | €2,837 | €1,975 | -€862 | -30.4% |
| Taxes, remuneration and social security | 45 | €153 | €3,042 | +€2,889 | +1,891% |
| Taxes | 450/3 | €153 | €3,042 | +€2,889 | +1,891% |
| Other amounts payable | 47/48 | €261,656 | €296,434 | +€34,778 | +13.3% |
| Accrued charges and deferred income | 492/3 | €7,882 | €6,825 | -€1,057 | -13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,853 | €1,305 | -€548 | -29.6% |
| Other operating charges | 640/8 | €912 | €544 | -€368 | -40.4% |
| Gross operating margin | 9900 | €232,141 | €260,000 | +€27,859 | +12.0% |
| Operating profit (loss) | 9901 | €229,375 | €258,151 | +€28,776 | +12.5% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €9,269 | €7,110 | -€2,159 | -23.3% |
| Recurring financial charges | 65 | €9,269 | €7,110 | -€2,159 | -23.3% |
| Profit (loss) for the period before taxes | 9903 | €220,107 | €251,041 | +€30,935 | +14.1% |
| Income taxes | 67/77 | €53,153 | €60,389 | +€7,236 | +13.6% |
| Profit (loss) for the period | 9904 | €166,954 | €190,652 | +€23,699 | +14.2% |
| Profit (loss) for the period to be appropriated | 9905 | €166,954 | €190,652 | +€23,699 | +14.2% |
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 28 October 2026 via checked.be.