LEM CONSULT: 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.
LEM CONSULT
Largest movements
- Receivables within one year -€121,113
down €121,113 (-76.0%), from €159,277 to €38,164
of which Trade receivables: -€86,534
- Cash -€37,187
down €37,187 (-12.5%), from €298,277 to €261,091
mainly Contributions, distributions and other (-€200,000) and Trade debts (-€69,939)
- Tangible fixed assets -€9,354
down €9,354 (-18.7%), from €49,914 to €40,560
of which Other tangible fixed assets: -€7,070
- Profit (loss) carried forward -€144,645
down €144,645 (-69.0%), from €209,621 to €64,976
- Other debts +€71,895
up €71,895 (+194.3%), from €36,996 to €108,891
- Trade debts -€69,939
down €69,939 (-99.4%), from €70,367 to €428
- Reserves -€55,000
down €55,000 (-32.1%), from €171,372 to €116,372
of which Distributable reserves: -€55,000
- Tax, wage and social debts +€30,539
up €30,539 (+1090.7%), from €2,800 to €33,339
of which Taxes: +€33,339
- Gross operating margin -€393,235
down €393,235 (-97.4%), from €403,535 to €10,299
- Taxes -€91,538
down €91,538 (-97.7%), from €93,705 to €2,167
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 | €509,756 | €342,605 | -€167,150 | -32.8% |
| Fixed assets | 21/28 | €49,934 | €40,580 | -€9,354 | -18.7% |
| Tangible fixed assets | 22/27 | €49,914 | €40,560 | -€9,354 | -18.7% |
| Plant, machinery and equipment | 23 | €99 | - | -€99 | |
| Furniture and vehicles | 24 | €2,857 | €672 | -€2,185 | -76.5% |
| Other tangible fixed assets | 26 | €46,958 | €39,888 | -€7,070 | -15.1% |
| Financial fixed assets | 28 | €20 | €20 | = | 0.0% |
| Current assets | 29/58 | €459,822 | €302,025 | -€157,797 | -34.3% |
| Amounts receivable within one year | 40/41 | €159,277 | €38,164 | -€121,113 | -76.0% |
| Trade receivables | 40 | €124,062 | €37,528 | -€86,534 | -69.8% |
| Other amounts receivable | 41 | €35,215 | €636 | -€34,580 | -98.2% |
| Cash at bank and in hand | 54/58 | €298,277 | €261,091 | -€37,187 | -12.5% |
| Deferred charges and accrued income | 490/1 | €2,267 | €2,771 | +€503 | +22.2% |
| Total equity and liabilities | 10/49 | €509,756 | €342,605 | -€167,150 | -32.8% |
| Equity | 10/15 | €399,593 | €199,948 | -€199,645 | -50.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €171,372 | €116,372 | -€55,000 | -32.1% |
| Tax-exempt reserves | 132 | €114,512 | €114,512 | = | 0.0% |
| Distributable reserves | 133 | €56,860 | €1,860 | -€55,000 | -96.7% |
| Profit (loss) carried forward | 14 | €209,621 | €64,976 | -€144,645 | -69.0% |
| Amounts payable | 17/49 | €110,163 | €142,657 | +€32,494 | +29.5% |
| Amounts payable within one year | 42/48 | €110,163 | €142,657 | +€32,494 | +29.5% |
| Trade debts | 44 | €70,367 | €428 | -€69,939 | -99.4% |
| Suppliers | 440/4 | €70,367 | €428 | -€69,939 | -99.4% |
| Taxes, remuneration and social security | 45 | €2,800 | €33,339 | +€30,539 | +1090.7% |
| Taxes | 450/3 | - | €33,339 | +€33,339 | |
| Remuneration and social security | 454/9 | €2,800 | - | -€2,800 | |
| Other amounts payable | 47/48 | €36,996 | €108,891 | +€71,895 | +194.3% |
| Non-recurring operating income | 76A | - | €7,200 | +€7,200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,475 | €9,354 | -€1,121 | -10.7% |
| Other operating charges | 640/8 | €896 | €954 | +€58 | +6.5% |
| Gross operating margin | 9900 | €403,535 | €10,299 | -€393,235 | -97.4% |
| Operating profit (loss) | 9901 | €392,164 | -€8 | -€392,172 | |
| Financial income | 75/76B | €5,278 | €2,912 | -€2,366 | -44.8% |
| Recurring financial income | 75 | €5,278 | €2,912 | -€2,366 | -44.8% |
| Financial charges | 65/66B | €3,463 | €382 | -€3,081 | -89.0% |
| Recurring financial charges | 65 | €3,463 | €382 | -€3,081 | -89.0% |
| Profit (loss) for the period before taxes | 9903 | €393,980 | €2,522 | -€391,458 | -99.4% |
| Income taxes | 67/77 | €93,705 | €2,167 | -€91,538 | -97.7% |
| Profit (loss) for the period | 9904 | €300,275 | €355 | -€299,920 | -99.9% |
| Transfer to tax-exempt reserves | 689 | €114,512 | - | -€114,512 | |
| Profit (loss) for the period to be appropriated | 9905 | €185,763 | €355 | -€185,408 | -99.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.