LEMAIRE: 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.
LEMAIRE
Largest movements
- Cash +€62,161
up €62,161 (+111%), from €55,859 to €118,019
mainly Net result for the year (+€42,504) and Trade debts (+€36,078)
- Tangible fixed assets -€27,515
down €27,515 (-38.8%), from €70,867 to €43,352
- Current investments +€12,243
new in 2025: €12,243
- Receivables within one year +€6,402
up €6,402 (+12.2%), from €52,672 to €59,074
of which Other amounts receivable: +€10,000
- Stocks and contracts -€4,451
down €4,451 (-9.5%), from €47,086 to €42,635
- Reserves +€41,000
up €41,000 (+34.9%), from €117,360 to €158,360
of which Distributable reserves: +€41,000
- Trade debts +€36,078
up €36,078 (+373%), from €9,673 to €45,751
- Other debts -€23,411
down €23,411 (-35.0%), from €66,840 to €43,430
- Tax, wage and social debts -€3,922
down €3,922 (-22.6%), from €17,392 to €13,470
of which Taxes: -€5,090
- Gross operating margin -€8,829
down €8,829 (-9.1%), from €96,953 to €88,124
- Financial charges -€2,330
down €2,330 (-34.2%), from €6,808 to €4,478
- Depreciation -€2,035
down €2,035 (-7.6%), from €26,608 to €24,573
- Taxes -€1,723
down €1,723 (-9.9%), from €17,316 to €15,593
- Write-downs +€1,471
up €1,471, from -€203 to €1,268
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.
Derived cash bridge
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 | €229,890 | €280,306 | +€50,416 | +21.9% |
| Fixed assets | 21/28 | €72,354 | €43,689 | -€28,665 | -39.6% |
| Intangible fixed assets | 21 | €1,487 | €337 | -€1,150 | -77.3% |
| Tangible fixed assets | 22/27 | €70,867 | €43,352 | -€27,515 | -38.8% |
| Plant, machinery and equipment | 23 | €19,503 | €8,593 | -€10,910 | -55.9% |
| Furniture and vehicles | 24 | €16,884 | €5,862 | -€11,023 | -65.3% |
| Other tangible fixed assets | 26 | €34,479 | €28,897 | -€5,582 | -16.2% |
| Current assets | 29/58 | €157,536 | €236,617 | +€79,081 | +50.2% |
| Stocks and contracts in progress | 3 | €47,086 | €42,635 | -€4,451 | -9.5% |
| Stocks | 30/36 | €47,086 | €42,635 | -€4,451 | -9.5% |
| Amounts receivable within one year | 40/41 | €52,672 | €59,074 | +€6,402 | +12.2% |
| Trade receivables | 40 | €3,931 | €333 | -€3,598 | -91.5% |
| Other amounts receivable | 41 | €48,741 | €58,741 | +€10,000 | +20.5% |
| Current investments | 50/53 | - | €12,243 | +€12,243 | |
| Cash at bank and in hand | 54/58 | €55,859 | €118,019 | +€62,161 | +111% |
| Deferred charges and accrued income | 490/1 | €1,919 | €4,645 | +€2,726 | +142% |
| Total equity and liabilities | 10/49 | €229,890 | €280,306 | +€50,416 | +21.9% |
| Equity | 10/15 | €135,985 | €177,656 | +€41,671 | +30.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €117,360 | €158,360 | +€41,000 | +34.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €13,000 | €13,000 | = | 0.0% |
| Distributable reserves | 133 | €102,500 | €143,500 | +€41,000 | +40.0% |
| Profit (loss) carried forward | 14 | €25 | €696 | +€671 | +2,690% |
| Amounts payable | 17/49 | €93,905 | €102,651 | +€8,745 | +9.3% |
| Amounts payable within one year | 42/48 | €93,905 | €102,651 | +€8,745 | +9.3% |
| Trade debts | 44 | €9,673 | €45,751 | +€36,078 | +373% |
| Suppliers | 440/4 | €9,673 | €45,751 | +€36,078 | +373% |
| Taxes, remuneration and social security | 45 | €17,392 | €13,470 | -€3,922 | -22.6% |
| Taxes | 450/3 | €17,392 | €12,302 | -€5,090 | -29.3% |
| Remuneration and social security | 454/9 | - | €1,168 | +€1,168 | |
| Other amounts payable | 47/48 | €66,840 | €43,430 | -€23,411 | -35.0% |
| Non-recurring operating income | 76A | - | €23,094 | +€23,094 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,608 | €24,573 | -€2,035 | -7.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€203 | €1,268 | +€1,471 | |
| Other operating charges | 640/8 | €1,359 | €1,204 | -€155 | -11.4% |
| Gross operating margin | 9900 | €96,953 | €88,124 | -€8,829 | -9.1% |
| Operating profit (loss) | 9901 | €69,189 | €61,079 | -€8,110 | -11.7% |
| Financial income | 75/76B | €931 | €1,495 | +€564 | +60.6% |
| Recurring financial income | 75 | €931 | €1,495 | +€564 | +60.6% |
| Financial charges | 65/66B | €6,808 | €4,478 | -€2,330 | -34.2% |
| Recurring financial charges | 65 | €6,808 | €4,478 | -€2,330 | -34.2% |
| Profit (loss) for the period before taxes | 9903 | €63,312 | €58,097 | -€5,216 | -8.2% |
| Income taxes | 67/77 | €17,316 | €15,593 | -€1,723 | -9.9% |
| Profit (loss) for the period | 9904 | €45,996 | €42,504 | -€3,493 | -7.6% |
| Profit (loss) for the period to be appropriated | 9905 | €45,996 | €42,504 | -€3,493 | -7.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.