LEM41: 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.
LEM41
Largest movements
- Cash -€56,486
down €56,486 (-28.4%), from €199,174 to €142,688
mainly Contributions, distributions and other (-€178,824) and Receivables within one year (-€38,731)
- Receivables within one year +€38,731
up €38,731 (+447.7%), from €8,652 to €47,382
of which Trade receivables: +€34,471
- Profit (loss) carried forward -€135,891
down €135,891 (-75.5%), from €180,018 to €44,127
- Other debts +€100,490
up €100,490 (+6653.9%), from €1,510 to €102,000
- Tax, wage and social debts +€15,404
up €15,404 (+59.6%), from €25,852 to €41,256
- Gross operating margin -€29,566
down €29,566 (-34.8%), from €85,044 to €55,478
- Depreciation -€6,118
down €6,118 (-92.5%), from €6,612 to €494
- Taxes -€5,809
down €5,809 (-33.9%), from €17,143 to €11,334
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 | €211,193 | €192,907 | -€18,286 | -8.7% |
| Fixed assets | 21/28 | €991 | €497 | -€494 | -49.9% |
| Tangible fixed assets | 22/27 | €991 | €497 | -€494 | -49.9% |
| Plant, machinery and equipment | 23 | €629 | €292 | -€337 | -53.7% |
| Furniture and vehicles | 24 | €362 | €205 | -€157 | -43.3% |
| Current assets | 29/58 | €210,202 | €192,410 | -€17,792 | -8.5% |
| Amounts receivable within one year | 40/41 | €8,652 | €47,382 | +€38,731 | +447.7% |
| Trade receivables | 40 | €8,652 | €43,122 | +€34,471 | +398.4% |
| Other amounts receivable | 41 | €0 | €4,260 | +€4,260 | |
| Cash at bank and in hand | 54/58 | €199,174 | €142,688 | -€56,486 | -28.4% |
| Deferred charges and accrued income | 490/1 | €2,377 | €2,340 | -€37 | -1.6% |
| Total equity and liabilities | 10/49 | €211,193 | €192,907 | -€18,286 | -8.7% |
| Equity | 10/15 | €182,018 | €46,127 | -€135,891 | -74.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €180,018 | €44,127 | -€135,891 | -75.5% |
| Amounts payable | 17/49 | €29,175 | €146,780 | +€117,605 | +403.1% |
| Amounts payable within one year | 42/48 | €29,175 | €144,970 | +€115,795 | +396.9% |
| Trade debts | 44 | €1,813 | €1,714 | -€99 | -5.5% |
| Suppliers | 440/4 | €1,813 | €1,714 | -€99 | -5.5% |
| Taxes, remuneration and social security | 45 | €25,852 | €41,256 | +€15,404 | +59.6% |
| Taxes | 450/3 | €25,852 | €41,256 | +€15,404 | +59.6% |
| Other amounts payable | 47/48 | €1,510 | €102,000 | +€100,490 | +6653.9% |
| Accrued charges and deferred income | 492/3 | €0 | €1,810 | +€1,810 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,612 | €494 | -€6,118 | -92.5% |
| Other operating charges | 640/8 | €276 | €410 | +€134 | +48.5% |
| Gross operating margin | 9900 | €85,044 | €55,478 | -€29,566 | -34.8% |
| Operating profit (loss) | 9901 | €78,156 | €54,574 | -€23,582 | -30.2% |
| Financial income | 75/76B | - | €4 | +€4 | |
| Recurring financial income | 75 | - | €4 | +€4 | |
| Financial charges | 65/66B | €227 | €312 | +€86 | +37.7% |
| Recurring financial charges | 65 | €227 | €312 | +€86 | +37.7% |
| Profit (loss) for the period before taxes | 9903 | €77,929 | €54,266 | -€23,663 | -30.4% |
| Income taxes | 67/77 | €17,143 | €11,334 | -€5,809 | -33.9% |
| Profit (loss) for the period | 9904 | €60,786 | €42,932 | -€17,854 | -29.4% |
| Profit (loss) for the period to be appropriated | 9905 | €60,786 | €42,932 | -€17,854 | -29.4% |
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.