LCM Management: 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.
LCM Management
Largest movements
- Cash -€34,642
down €34,642 (-14.5%), from €239,030 to €204,388
mainly Contributions, distributions and other (-€92,864) and Debts after one year (-€14,315)
- Tangible fixed assets -€18,268
down €18,268 (-17.7%), from €103,218 to €84,950
of which Land and buildings: -€13,898
- Receivables within one year -€6,045
down €6,045 (-27.1%), from €22,271 to €16,226
of which Trade receivables: -€6,045
- Reserves -€51,495
down €51,495 (-20.0%), from €257,822 to €206,327
- Debts after one year -€14,315
down €14,315 (-15.0%), from €95,644 to €81,330
- Gross operating margin +€4,734
up €4,734 (+5.8%), from €81,204 to €85,938
- Depreciation -€3,687
down €3,687 (-15.7%), from €23,481 to €19,793
- Taxes +€2,771
up €2,771 (+18.8%), from €14,775 to €17,547
- Financial charges -€862
down €862 (-11.5%), from €7,486 to €6,624
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 | €413,901 | €354,975 | -€58,926 | -14.2% |
| Fixed assets | 21/28 | €103,218 | €84,950 | -€18,268 | -17.7% |
| Tangible fixed assets | 22/27 | €103,218 | €84,950 | -€18,268 | -17.7% |
| Land and buildings | 22 | €93,936 | €80,038 | -€13,898 | -14.8% |
| Plant, machinery and equipment | 23 | €1,739 | €1,099 | -€640 | -36.8% |
| Furniture and vehicles | 24 | €6,104 | €3,240 | -€2,864 | -46.9% |
| Other tangible fixed assets | 26 | €1,440 | €573 | -€867 | -60.2% |
| Current assets | 29/58 | €310,683 | €270,025 | -€40,658 | -13.1% |
| Amounts receivable after more than one year | 29 | €45,000 | €45,000 | = | 0.0% |
| Other amounts receivable | 291 | €45,000 | €45,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €22,271 | €16,226 | -€6,045 | -27.1% |
| Trade receivables | 40 | €22,271 | €16,226 | -€6,045 | -27.1% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €239,030 | €204,388 | -€34,642 | -14.5% |
| Deferred charges and accrued income | 490/1 | €4,382 | €4,411 | +€30 | +0.7% |
| Total equity and liabilities | 10/49 | €413,901 | €354,975 | -€58,926 | -14.2% |
| Equity | 10/15 | €276,422 | €224,927 | -€51,495 | -18.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €257,822 | €206,327 | -€51,495 | -20.0% |
| Distributable reserves | 133 | €257,822 | €206,327 | -€51,495 | -20.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €137,479 | €130,048 | -€7,431 | -5.4% |
| Amounts payable after more than one year | 17 | €95,644 | €81,330 | -€14,315 | -15.0% |
| Financial debts | 170/4 | €95,644 | €81,330 | -€14,315 | -15.0% |
| Amounts payable within one year | 42/48 | €40,334 | €47,218 | +€6,884 | +17.1% |
| Current portion of amounts payable after more than one year | 42 | €14,549 | €14,315 | -€235 | -1.6% |
| Financial debts | 43 | €9,838 | €9,768 | -€70 | -0.7% |
| Credit institutions | 430/8 | €9,838 | €9,768 | -€70 | -0.7% |
| Trade debts | 44 | €791 | €4,788 | +€3,997 | +505.6% |
| Suppliers | 440/4 | €791 | €4,788 | +€3,997 | +505.6% |
| Taxes, remuneration and social security | 45 | €13,841 | €16,188 | +€2,347 | +17.0% |
| Taxes | 450/3 | €13,841 | €16,188 | +€2,347 | +17.0% |
| Other amounts payable | 47/48 | €1,315 | €2,160 | +€844 | +64.2% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Non-recurring operating income | 76A | €9,525 | €0 | -€9,525 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,481 | €19,793 | -€3,687 | -15.7% |
| Other operating charges | 640/8 | €2,561 | €2,612 | +€51 | +2.0% |
| Gross operating margin | 9900 | €81,204 | €85,938 | +€4,734 | +5.8% |
| Operating profit (loss) | 9901 | €55,162 | €63,532 | +€8,371 | +15.2% |
| Financial income | 75/76B | €1,691 | €2,007 | +€316 | +18.7% |
| Recurring financial income | 75 | €1,691 | €2,007 | +€316 | +18.7% |
| Financial charges | 65/66B | €7,486 | €6,624 | -€862 | -11.5% |
| Recurring financial charges | 65 | €7,486 | €6,624 | -€862 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | €49,366 | €58,916 | +€9,549 | +19.3% |
| Income taxes | 67/77 | €14,775 | €17,547 | +€2,771 | +18.8% |
| Profit (loss) for the period | 9904 | €34,591 | €41,369 | +€6,778 | +19.6% |
| Profit (loss) for the period to be appropriated | 9905 | €34,591 | €41,369 | +€6,778 | +19.6% |
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 10 October 2026 via checked.be.