LBMH: 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.
LBMH
Largest movements
- Stocks and contracts -€176,737
down €176,737 (-69.9%), from €252,663 to €75,927
- Cash +€64,172
up €64,172 (+150.0%), from €42,784 to €106,956
mainly Stocks and contracts (+€176,737) and Receivables within one year (+€5,164)
- Receivables within one year -€5,164
down €5,164 (-9.4%), from €55,178 to €50,014
of which Trade receivables: -€21,652
- Other debts -€63,649
down €63,649 (-34.3%), from €185,732 to €122,083
- Tax, wage and social debts -€27,592
down €27,592 (-99.9%), from €27,622 to €29
- Trade debts -€12,576
down €12,576 (-59.0%), from €21,318 to €8,742
- Provisions -€10,000
down €10,000 (-20.8%), from €48,000 to €38,000
- Profit (loss) carried forward -€8,863
down €8,863 (-5.5%), from -€162,603 to -€171,466
- Gross operating margin +€17,217
up €17,217 (+58.6%), from -€29,376 to -€12,159
- Write-downs -€15,092
new in 2025: -€15,092
- Financial charges -€6,936
down €6,936 (-52.6%), from €13,198 to €6,261
- Other operating charges -€6,584
down €6,584 (-90.2%), from €7,302 to €718
- Depreciation -€3,141
down €3,141 (-92.5%), from €3,396 to €255
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 | €355,132 | €236,212 | -€118,920 | -33.5% |
| Fixed assets | 21/28 | €3,139 | €2,884 | -€255 | -8.1% |
| Tangible fixed assets | 22/27 | €569 | €314 | -€255 | -44.7% |
| Plant, machinery and equipment | 23 | €569 | €314 | -€255 | -44.7% |
| Financial fixed assets | 28 | €2,570 | €2,570 | = | 0.0% |
| Current assets | 29/58 | €351,993 | €233,327 | -€118,666 | -33.7% |
| Stocks and contracts in progress | 3 | €252,663 | €75,927 | -€176,737 | -69.9% |
| Stocks | 30/36 | €252,663 | €75,927 | -€176,737 | -69.9% |
| Amounts receivable within one year | 40/41 | €55,178 | €50,014 | -€5,164 | -9.4% |
| Trade receivables | 40 | €52,058 | €30,406 | -€21,652 | -41.6% |
| Other amounts receivable | 41 | €3,120 | €19,608 | +€16,488 | +528.5% |
| Cash at bank and in hand | 54/58 | €42,784 | €106,956 | +€64,172 | +150.0% |
| Deferred charges and accrued income | 490/1 | €1,368 | €430 | -€937 | -68.5% |
| Total equity and liabilities | 10/49 | €355,132 | €236,212 | -€118,920 | -33.5% |
| Equity | 10/15 | -€22,603 | -€31,466 | -€8,863 | -39.2% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €40,000 | €40,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€162,603 | -€171,466 | -€8,863 | -5.5% |
| Provisions and deferred taxes | 16 | €48,000 | €38,000 | -€10,000 | -20.8% |
| Provisions for liabilities and charges | 160/5 | €48,000 | €38,000 | -€10,000 | -20.8% |
| Environmental obligations | 163 | - | €38,000 | +€38,000 | |
| Other liabilities and charges | 164/5 | €48,000 | - | -€48,000 | |
| Amounts payable | 17/49 | €329,735 | €229,678 | -€100,057 | -30.3% |
| Amounts payable after more than one year | 17 | €93,563 | €97,306 | +€3,743 | +4.0% |
| Other amounts payable | 178/9 | €93,563 | €97,306 | +€3,743 | +4.0% |
| Amounts payable within one year | 42/48 | €234,672 | €130,855 | -€103,817 | -44.2% |
| Trade debts | 44 | €21,318 | €8,742 | -€12,576 | -59.0% |
| Suppliers | 440/4 | €21,318 | €8,742 | -€12,576 | -59.0% |
| Taxes, remuneration and social security | 45 | €27,622 | €29 | -€27,592 | -99.9% |
| Taxes | 450/3 | €27,622 | €29 | -€27,592 | -99.9% |
| Other amounts payable | 47/48 | €185,732 | €122,083 | -€63,649 | -34.3% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,518 | +€18 | +1.2% |
| Non-recurring operating income | 76A | - | €2,163 | +€2,163 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,396 | €255 | -€3,141 | -92.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€15,092 | -€15,092 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€1,500 | - | +€1,500 | |
| Other operating charges | 640/8 | €7,302 | €718 | -€6,584 | -90.2% |
| Non-recurring operating charges | 66A | - | €5,092 | +€5,092 | |
| Gross operating margin | 9900 | -€29,376 | -€12,159 | +€17,217 | +58.6% |
| Operating profit (loss) | 9901 | -€38,574 | -€3,132 | +€35,442 | +91.9% |
| Financial income | 75/76B | €134 | €530 | +€396 | +294.8% |
| Recurring financial income | 75 | €134 | €530 | +€396 | +294.8% |
| Financial charges | 65/66B | €13,198 | €6,261 | -€6,936 | -52.6% |
| Recurring financial charges | 65 | €13,198 | €6,261 | -€6,936 | -52.6% |
| Profit (loss) for the period before taxes | 9903 | -€51,638 | -€8,863 | +€42,774 | +82.8% |
| Income taxes | 67/77 | €0 | - | -€0 | |
| Profit (loss) for the period | 9904 | -€51,638 | -€8,863 | +€42,775 | +82.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€51,638 | -€8,863 | +€42,775 | +82.8% |
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 9 October 2026 via checked.be.