LEMADU: 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.
LEMADU
Largest movements
- Receivables within one year -€118,171
down €118,171 (-98.0%), from €120,627 to €2,455
of which Other amounts receivable: -€109,606
- Current investments +€100,000
new in 2025: €100,000
- Cash +€37,449
up €37,449 (+442.5%), from €8,464 to €45,913
mainly Receivables within one year (+€118,171) and Net result for the year (+€58,614)
- Stocks and contracts +€7,139
new in 2025: €7,139
- Tangible fixed assets +€1,641
up €1,641 (+493.7%), from €332 to €1,973
- Reserves +€50,000
new in 2025: €50,000
- Debts after one year -€50,000
down €50,000 (-50.0%), from €100,000 to €50,000
- Short-term financial debts +€24,000
new in 2025: €24,000
- Profit (loss) carried forward +€8,614
up €8,614, from -€7,455 to €1,158
- Other debts -€8,115
down €8,115 (-24.4%), from €33,269 to €25,154
- Financial income +€48,068
new in 2025: €48,068
of which Non-recurring financial income: +€48,044
- Gross operating margin +€25,474
up €25,474 (+188.8%), from €13,493 to €38,967
- Taxes +€24,603
up €24,603 (+19062.0%), from €129 to €24,732
- Financial charges +€397
up €397 (+18.8%), from €2,114 to €2,510
of which Financial charges: +€512
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 | €129,423 | €157,480 | +€28,058 | +21.7% |
| Fixed assets | 21/28 | €332 | €1,973 | +€1,641 | +493.7% |
| Tangible fixed assets | 22/27 | €332 | €1,973 | +€1,641 | +493.7% |
| Furniture and vehicles | 24 | €332 | €1,973 | +€1,641 | +493.7% |
| Current assets | 29/58 | €129,090 | €155,507 | +€26,417 | +20.5% |
| Stocks and contracts in progress | 3 | - | €7,139 | +€7,139 | |
| Stocks | 30/36 | - | €7,139 | +€7,139 | |
| Amounts receivable within one year | 40/41 | €120,627 | €2,455 | -€118,171 | -98.0% |
| Trade receivables | 40 | €11,000 | €2,434 | -€8,566 | -77.9% |
| Other amounts receivable | 41 | €109,627 | €21 | -€109,606 | -100.0% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €8,464 | €45,913 | +€37,449 | +442.5% |
| Total equity and liabilities | 10/49 | €129,423 | €157,480 | +€28,058 | +21.7% |
| Equity | 10/15 | -€6,455 | €52,158 | +€58,614 | |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | - | €50,000 | +€50,000 | |
| Distributable reserves | 133 | - | €50,000 | +€50,000 | |
| Profit (loss) carried forward | 14 | -€7,455 | €1,158 | +€8,614 | |
| Amounts payable | 17/49 | €135,878 | €105,322 | -€30,556 | -22.5% |
| Amounts payable after more than one year | 17 | €100,000 | €50,000 | -€50,000 | -50.0% |
| Financial debts | 170/4 | €100,000 | €50,000 | -€50,000 | -50.0% |
| Amounts payable within one year | 42/48 | €34,653 | €53,484 | +€18,832 | +54.3% |
| Financial debts | 43 | - | €24,000 | +€24,000 | |
| Credit institutions | 430/8 | - | €24,000 | +€24,000 | |
| Trade debts | 44 | €529 | €1,292 | +€763 | +144.2% |
| Suppliers | 440/4 | €529 | €1,292 | +€763 | +144.2% |
| Taxes, remuneration and social security | 45 | €854 | €3,038 | +€2,184 | +255.6% |
| Taxes | 450/3 | €854 | €3,038 | +€2,184 | +255.6% |
| Other amounts payable | 47/48 | €33,269 | €25,154 | -€8,115 | -24.4% |
| Accrued charges and deferred income | 492/3 | €1,225 | €1,838 | +€613 | +50.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €259 | €288 | +€29 | +11.2% |
| Other operating charges | 640/8 | €917 | €891 | -€26 | -2.9% |
| Gross operating margin | 9900 | €13,493 | €38,967 | +€25,474 | +188.8% |
| Operating profit (loss) | 9901 | €12,317 | €37,789 | +€25,472 | +206.8% |
| Financial income | 75/76B | - | €48,068 | +€48,068 | |
| Recurring financial income | 75 | - | €24 | +€24 | |
| Non-recurring financial income | 76B | - | €48,044 | +€48,044 | |
| Financial charges | 65/66B | €2,114 | €2,510 | +€397 | +18.8% |
| Recurring financial charges | 65 | €1,998 | €2,510 | +€512 | +25.6% |
| Non-recurring financial charges | 66B | €116 | - | -€116 | |
| Profit (loss) for the period before taxes | 9903 | €10,203 | €83,346 | +€73,143 | +716.9% |
| Income taxes | 67/77 | €129 | €24,732 | +€24,603 | +19062.0% |
| Profit (loss) for the period | 9904 | €10,074 | €58,614 | +€48,539 | +481.8% |
| Profit (loss) for the period to be appropriated | 9905 | €10,074 | €58,614 | +€48,539 | +481.8% |
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 9 October 2026 via checked.be.