LEMA: 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.
LEMA
Largest movements
- Tangible fixed assets -€12,134
down €12,134 (-25.8%), from €47,044 to €34,910
- Cash +€12,012
up €12,012 (+15.5%), from €77,744 to €89,756
mainly Net result for the year (+€35,579) and Depreciation (+€12,134)
- Receivables within one year +€6,922
up €6,922 (+39.0%), from €17,735 to €24,657
of which Other amounts receivable: +€6,474
- Reserves +€35,579
up €35,579 (+60.0%), from €59,271 to €94,851
- Tax, wage and social debts -€12,292
down €12,292 (-49.1%), from €25,025 to €12,732
- Debts after one year -€12,155
down €12,155 (-32.9%), from €36,908 to €24,753
- Trade debts -€3,660
down €3,660 (-48.8%), from €7,497 to €3,837
- Gross operating margin -€32,291
down €32,291 (-35.0%), from €92,229 to €59,939
- Taxes -€5,807
down €5,807 (-36.0%), from €16,137 to €10,330
- Depreciation -€1,492
down €1,492 (-10.9%), from €13,626 to €12,134
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 | €145,979 | €153,328 | +€7,349 | +5.0% |
| Fixed assets | 21/28 | €47,044 | €34,910 | -€12,134 | -25.8% |
| Tangible fixed assets | 22/27 | €47,044 | €34,910 | -€12,134 | -25.8% |
| Furniture and vehicles | 24 | €47,044 | €34,910 | -€12,134 | -25.8% |
| Current assets | 29/58 | €98,935 | €118,418 | +€19,483 | +19.7% |
| Amounts receivable within one year | 40/41 | €17,735 | €24,657 | +€6,922 | +39.0% |
| Trade receivables | 40 | €17,735 | €18,183 | +€448 | +2.5% |
| Other amounts receivable | 41 | - | €6,474 | +€6,474 | |
| Cash at bank and in hand | 54/58 | €77,744 | €89,756 | +€12,012 | +15.5% |
| Deferred charges and accrued income | 490/1 | €3,456 | €4,005 | +€549 | +15.9% |
| Total equity and liabilities | 10/49 | €145,979 | €153,328 | +€7,349 | +5.0% |
| Equity | 10/15 | €64,271 | €99,851 | +€35,579 | +55.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €59,271 | €94,851 | +€35,579 | +60.0% |
| Distributable reserves | 133 | €59,271 | €94,851 | +€35,579 | +60.0% |
| Amounts payable | 17/49 | €81,707 | €53,477 | -€28,231 | -34.6% |
| Amounts payable after more than one year | 17 | €36,908 | €24,753 | -€12,155 | -32.9% |
| Financial debts | 170/4 | €36,908 | €24,753 | -€12,155 | -32.9% |
| Amounts payable within one year | 42/48 | €44,800 | €28,724 | -€16,075 | -35.9% |
| Current portion of amounts payable after more than one year | 42 | €11,662 | €12,155 | +€493 | +4.2% |
| Trade debts | 44 | €7,497 | €3,837 | -€3,660 | -48.8% |
| Suppliers | 440/4 | €7,497 | €3,837 | -€3,660 | -48.8% |
| Taxes, remuneration and social security | 45 | €25,025 | €12,732 | -€12,292 | -49.1% |
| Taxes | 450/3 | €25,025 | €12,732 | -€12,292 | -49.1% |
| Other amounts payable | 47/48 | €617 | - | -€617 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,626 | €12,134 | -€1,492 | -10.9% |
| Other operating charges | 640/8 | €494 | €62 | -€432 | -87.4% |
| Gross operating margin | 9900 | €92,229 | €59,939 | -€32,291 | -35.0% |
| Operating profit (loss) | 9901 | €78,110 | €47,743 | -€30,367 | -38.9% |
| Financial income | 75/76B | - | €23 | +€23 | |
| Recurring financial income | 75 | - | €23 | +€23 | |
| Financial charges | 65/66B | €2,701 | €1,857 | -€845 | -31.3% |
| Recurring financial charges | 65 | €2,701 | €1,857 | -€845 | -31.3% |
| Profit (loss) for the period before taxes | 9903 | €75,408 | €45,909 | -€29,499 | -39.1% |
| Income taxes | 67/77 | €16,137 | €10,330 | -€5,807 | -36.0% |
| Profit (loss) for the period | 9904 | €59,271 | €35,579 | -€23,692 | -40.0% |
| Profit (loss) for the period to be appropriated | 9905 | €59,271 | €35,579 | -€23,692 | -40.0% |
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 8 October 2026 via checked.be.