LEMARA: 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.
LEMARA
Largest movements
- Current investments -€170,490
down €170,490 (-56.3%), from €302,838 to €132,348
- Cash +€164,358
up €164,358 (+104.3%), from €157,532 to €321,890
mainly Current investments (+€170,490) and Depreciation (+€28,149)
- Tangible fixed assets -€28,149
down €28,149 (-14.8%), from €190,677 to €162,528
of which Furniture and vehicles: -€18,508
- Reserves -€43,725
down €43,725 (-7.2%), from €604,537 to €560,812
- Other debts +€8,774
up €8,774 (+19.0%), from €46,216 to €54,990
- Gross operating margin +€38,830
up €38,830 (+74.4%), from -€52,212 to -€13,382
- Financial income -€1,162
down €1,162 (-98.3%), from €1,182 to €20
- Depreciation -€1,101
down €1,101 (-3.8%), from €29,250 to €28,149
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 | €669,862 | €637,717 | -€32,145 | -4.8% |
| Fixed assets | 21/28 | €190,677 | €162,528 | -€28,149 | -14.8% |
| Tangible fixed assets | 22/27 | €190,677 | €162,528 | -€28,149 | -14.8% |
| Land and buildings | 22 | €127,800 | €118,938 | -€8,862 | -6.9% |
| Plant, machinery and equipment | 23 | €1,269 | €491 | -€778 | -61.3% |
| Furniture and vehicles | 24 | €61,608 | €43,099 | -€18,508 | -30.0% |
| Current assets | 29/58 | €479,185 | €475,189 | -€3,996 | -0.8% |
| Amounts receivable within one year | 40/41 | €16,447 | €18,032 | +€1,585 | +9.6% |
| Trade receivables | 40 | €13,788 | €14,073 | +€284 | +2.1% |
| Other amounts receivable | 41 | €2,659 | €3,960 | +€1,301 | +48.9% |
| Current investments | 50/53 | €302,838 | €132,348 | -€170,490 | -56.3% |
| Cash at bank and in hand | 54/58 | €157,532 | €321,890 | +€164,358 | +104.3% |
| Deferred charges and accrued income | 490/1 | €2,368 | €2,919 | +€551 | +23.3% |
| Total equity and liabilities | 10/49 | €669,862 | €637,717 | -€32,145 | -4.8% |
| Equity | 10/15 | €623,129 | €579,404 | -€43,725 | -7.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €604,537 | €560,812 | -€43,725 | -7.2% |
| Distributable reserves | 133 | €604,537 | €560,812 | -€43,725 | -7.2% |
| Amounts payable | 17/49 | €46,733 | €58,313 | +€11,580 | +24.8% |
| Amounts payable within one year | 42/48 | €46,733 | €58,313 | +€11,580 | +24.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €517 | €927 | +€410 | +79.3% |
| Suppliers | 440/4 | €517 | €927 | +€410 | +79.3% |
| Taxes, remuneration and social security | 45 | €0 | €2,396 | +€2,396 | |
| Taxes | 450/3 | €0 | €2,396 | +€2,396 | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €46,216 | €54,990 | +€8,774 | +19.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,250 | €28,149 | -€1,101 | -3.8% |
| Other operating charges | 640/8 | €1,605 | €1,529 | -€76 | -4.8% |
| Gross operating margin | 9900 | -€52,212 | -€13,382 | +€38,830 | +74.4% |
| Operating profit (loss) | 9901 | -€83,067 | -€43,059 | +€40,007 | +48.2% |
| Financial income | 75/76B | €1,182 | €20 | -€1,162 | -98.3% |
| Recurring financial income | 75 | €1,182 | €20 | -€1,162 | -98.3% |
| Financial charges | 65/66B | €727 | €545 | -€182 | -25.0% |
| Recurring financial charges | 65 | €727 | €545 | -€182 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | -€82,611 | -€43,584 | +€39,027 | +47.2% |
| Income taxes | 67/77 | €128 | €141 | +€13 | +10.1% |
| Profit (loss) for the period | 9904 | -€82,739 | -€43,725 | +€39,014 | +47.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€82,739 | -€43,725 | +€39,014 | +47.2% |
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 3 October 2026 via checked.be.