LEMAN: 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.
LEMAN
Largest movements
- Receivables within one year +€97,806
up €97,806 (+14.0%), from €696,943 to €794,750
of which Trade receivables: +€91,674
- Cash +€61,834
up €61,834 (+27.6%), from €223,959 to €285,793
mainly Net result for the year (+€73,239) and Trade debts (+€56,168)
- Profit (loss) carried forward +€73,239
up €73,239 (+13.9%), from €525,582 to €598,821
- Trade debts +€56,168
up €56,168 (+36.2%), from €155,315 to €211,483
- Tax, wage and social debts +€25,071
up €25,071 (+44.5%), from €56,327 to €81,398
of which Remuneration and social security: +€23,574
- Gross operating margin +€66,804
up €66,804 (+20.3%), from €329,480 to €396,284
- Staff costs +€27,894
up €27,894 (+11.5%), from €243,374 to €271,268
- Taxes +€14,030
up €14,030 (+70.7%), from €19,837 to €33,867
- Write-downs -€8,310
down €8,310 (-74.7%), from €11,129 to €2,819
- Financial charges -€4,440
down €4,440 (-47.7%), from €9,304 to €4,864
of which Financial charges: -€4,561
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 | €965,011 | €1,119,571 | +€154,560 | +16.0% |
| Fixed assets | 21/28 | €29,159 | €24,168 | -€4,991 | -17.1% |
| Tangible fixed assets | 22/27 | €19,909 | €14,918 | -€4,991 | -25.1% |
| Furniture and vehicles | 24 | €19,909 | €14,918 | -€4,991 | -25.1% |
| Financial fixed assets | 28 | €9,250 | €9,250 | = | 0.0% |
| Current assets | 29/58 | €935,852 | €1,095,403 | +€159,551 | +17.0% |
| Stocks and contracts in progress | 3 | €4,553 | €5,951 | +€1,397 | +30.7% |
| Stocks | 30/36 | €4,553 | €5,951 | +€1,397 | +30.7% |
| Amounts receivable within one year | 40/41 | €696,943 | €794,750 | +€97,806 | +14.0% |
| Trade receivables | 40 | €252,436 | €344,109 | +€91,674 | +36.3% |
| Other amounts receivable | 41 | €444,508 | €450,640 | +€6,133 | +1.4% |
| Cash at bank and in hand | 54/58 | €223,959 | €285,793 | +€61,834 | +27.6% |
| Deferred charges and accrued income | 490/1 | €10,397 | €8,911 | -€1,486 | -14.3% |
| Total equity and liabilities | 10/49 | €965,011 | €1,119,571 | +€154,560 | +16.0% |
| Equity | 10/15 | €608,082 | €681,321 | +€73,239 | +12.0% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €7,500 | €7,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €525,582 | €598,821 | +€73,239 | +13.9% |
| Amounts payable | 17/49 | €356,929 | €438,251 | +€81,321 | +22.8% |
| Amounts payable within one year | 42/48 | €329,248 | €410,570 | +€81,321 | +24.7% |
| Trade debts | 44 | €155,315 | €211,483 | +€56,168 | +36.2% |
| Suppliers | 440/4 | €155,315 | €211,483 | +€56,168 | +36.2% |
| Taxes, remuneration and social security | 45 | €56,327 | €81,398 | +€25,071 | +44.5% |
| Taxes | 450/3 | €37,220 | €38,717 | +€1,498 | +4.0% |
| Remuneration and social security | 454/9 | €19,107 | €42,681 | +€23,574 | +123% |
| Other amounts payable | 47/48 | €117,606 | €117,688 | +€82 | +0.1% |
| Accrued charges and deferred income | 492/3 | €27,681 | €27,681 | = | 0.0% |
| Non-recurring operating income | 76A | €2,312 | €32 | -€2,280 | -98.6% |
| Remuneration, social security and pensions | 62 | €243,374 | €271,268 | +€27,894 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,510 | €4,991 | +€481 | +10.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,129 | €2,819 | -€8,310 | -74.7% |
| Other operating charges | 640/8 | €4,735 | €5,242 | +€507 | +10.7% |
| Gross operating margin | 9900 | €329,480 | €396,284 | +€66,804 | +20.3% |
| Operating profit (loss) | 9901 | €65,732 | €111,963 | +€46,232 | +70.3% |
| Financial income | 75/76B | €0 | €7 | +€7 | +6,910% |
| Recurring financial income | 75 | €0 | €7 | +€7 | +6,910% |
| Financial charges | 65/66B | €9,304 | €4,864 | -€4,440 | -47.7% |
| Recurring financial charges | 65 | €9,270 | €4,709 | -€4,561 | -49.2% |
| Non-recurring financial charges | 66B | €34 | €155 | +€121 | +354% |
| Profit (loss) for the period before taxes | 9903 | €56,428 | €107,107 | +€50,679 | +89.8% |
| Income taxes | 67/77 | €19,837 | €33,867 | +€14,030 | +70.7% |
| Profit (loss) for the period | 9904 | €36,591 | €73,239 | +€36,649 | +100% |
| Profit (loss) for the period to be appropriated | 9905 | €36,591 | €73,239 | +€36,649 | +100% |
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 14 October 2026 via checked.be.