LCARMA: 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.
LCARMA
Largest movements
- Cash +€228,524
up €228,524 (+350.3%), from €65,238 to €293,762
mainly Net result for the year (+€141,806) and Current investments (+€110,000)
- Current investments -€110,000
no longer reported in 2025 (was €110,000)
- Receivables within one year +€43,937
up €43,937 (+243.6%), from €18,034 to €61,971
of which Trade receivables: +€43,637
- Tangible fixed assets -€13,602
down €13,602 (-55.1%), from €24,688 to €11,086
- Profit (loss) carried forward +€141,806
up €141,806 (+70.4%), from €201,474 to €343,280
- Tax, wage and social debts +€8,445
up €8,445 (+64.7%), from €13,045 to €21,490
- Gross operating margin +€58,944
up €58,944 (+42.4%), from €138,961 to €197,905
- Taxes +€15,790
up €15,790 (+58.9%), from €26,821 to €42,612
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 | €219,121 | €367,864 | +€148,743 | +67.9% |
| Fixed assets | 21/28 | €24,838 | €11,236 | -€13,602 | -54.8% |
| Tangible fixed assets | 22/27 | €24,688 | €11,086 | -€13,602 | -55.1% |
| Furniture and vehicles | 24 | €24,688 | €11,086 | -€13,602 | -55.1% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €194,283 | €356,627 | +€162,344 | +83.6% |
| Amounts receivable within one year | 40/41 | €18,034 | €61,971 | +€43,937 | +243.6% |
| Trade receivables | 40 | €18,034 | €61,671 | +€43,637 | +242.0% |
| Other amounts receivable | 41 | - | €300 | +€300 | |
| Current investments | 50/53 | €110,000 | - | -€110,000 | |
| Cash at bank and in hand | 54/58 | €65,238 | €293,762 | +€228,524 | +350.3% |
| Deferred charges and accrued income | 490/1 | €1,011 | €895 | -€117 | -11.6% |
| Total equity and liabilities | 10/49 | €219,121 | €367,864 | +€148,743 | +67.9% |
| Equity | 10/15 | €204,474 | €346,280 | +€141,806 | +69.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €201,474 | €343,280 | +€141,806 | +70.4% |
| Amounts payable | 17/49 | €14,647 | €21,584 | +€6,937 | +47.4% |
| Amounts payable within one year | 42/48 | €14,647 | €21,584 | +€6,937 | +47.4% |
| Trade debts | 44 | €994 | €87 | -€907 | -91.2% |
| Suppliers | 440/4 | €994 | €87 | -€907 | -91.2% |
| Taxes, remuneration and social security | 45 | €13,045 | €21,490 | +€8,445 | +64.7% |
| Taxes | 450/3 | €13,045 | €21,490 | +€8,445 | +64.7% |
| Other amounts payable | 47/48 | €608 | €7 | -€601 | -98.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,116 | €15,301 | +€185 | +1.2% |
| Other operating charges | 640/8 | €525 | €592 | +€67 | +12.8% |
| Gross operating margin | 9900 | €138,961 | €197,905 | +€58,944 | +42.4% |
| Operating profit (loss) | 9901 | €123,320 | €182,013 | +€58,692 | +47.6% |
| Financial income | 75/76B | €663 | €2,480 | +€1,817 | +274.1% |
| Recurring financial income | 75 | €663 | €2,480 | +€1,817 | +274.1% |
| Financial charges | 65/66B | €45 | €76 | +€31 | +67.8% |
| Recurring financial charges | 65 | €45 | €76 | +€31 | +67.8% |
| Profit (loss) for the period before taxes | 9903 | €123,938 | €184,417 | +€60,479 | +48.8% |
| Income taxes | 67/77 | €26,821 | €42,612 | +€15,790 | +58.9% |
| Profit (loss) for the period | 9904 | €97,117 | €141,806 | +€44,689 | +46.0% |
| Profit (loss) for the period to be appropriated | 9905 | €97,117 | €141,806 | +€44,689 | +46.0% |
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 6 October 2026 via checked.be.