Lemaxe: 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.
Lemaxe
Largest movements
- Tangible fixed assets +€44,103
up €44,103 (+227.8%), from €19,362 to €63,466
of which Other tangible fixed assets: +€45,544
- Receivables within one year -€18,703
down €18,703 (-37.9%), from €49,325 to €30,622
of which Trade receivables: -€13,544
- Cash -€9,936
down €9,936 (-21.0%), from €47,302 to €37,366
mainly Investment in fixed assets (net) (-€51,300) and Tax, wage and social debts (-€10,121)
- Debts after one year +€22,980
new in 2025: €22,980
- Current portion of long-term debt +€13,132
new in 2025: €13,132
- Tax, wage and social debts -€10,121
down €10,121 (-36.0%), from €28,105 to €17,984
- Other debts -€9,486
down €9,486 (-33.8%), from €28,050 to €18,564
- Gross operating margin -€37,864
down €37,864 (-57.1%), from €66,295 to €28,431
- Depreciation +€1,957
up €1,957 (+38.1%), from €5,140 to €7,097
- Financial charges +€1,809
up €1,809 (+3173.0%), from €57 to €1,866
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 | €117,028 | €132,835 | +€15,807 | +13.5% |
| Fixed assets | 21/28 | €19,362 | €63,565 | +€44,203 | +228.3% |
| Tangible fixed assets | 22/27 | €19,362 | €63,466 | +€44,103 | +227.8% |
| Plant, machinery and equipment | 23 | €1,438 | €2,963 | +€1,525 | +106.1% |
| Furniture and vehicles | 24 | €11,713 | €8,747 | -€2,966 | -25.3% |
| Other tangible fixed assets | 26 | €6,211 | €51,755 | +€45,544 | +733.3% |
| Financial fixed assets | 28 | - | €100 | +€100 | |
| Current assets | 29/58 | €97,666 | €69,270 | -€28,396 | -29.1% |
| Amounts receivable within one year | 40/41 | €49,325 | €30,622 | -€18,703 | -37.9% |
| Trade receivables | 40 | €40,647 | €27,103 | -€13,544 | -33.3% |
| Other amounts receivable | 41 | €8,678 | €3,519 | -€5,159 | -59.5% |
| Cash at bank and in hand | 54/58 | €47,302 | €37,366 | -€9,936 | -21.0% |
| Deferred charges and accrued income | 490/1 | €1,039 | €1,283 | +€243 | +23.4% |
| Total equity and liabilities | 10/49 | €117,028 | €132,835 | +€15,807 | +13.5% |
| Equity | 10/15 | €60,175 | €59,631 | -€544 | -0.9% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,175 | €53,631 | -€544 | -1.0% |
| Amounts payable | 17/49 | €56,853 | €73,204 | +€16,351 | +28.8% |
| Amounts payable after more than one year | 17 | - | €22,980 | +€22,980 | |
| Financial debts | 170/4 | - | €22,980 | +€22,980 | |
| Amounts payable within one year | 42/48 | €56,853 | €50,224 | -€6,629 | -11.7% |
| Current portion of amounts payable after more than one year | 42 | - | €13,132 | +€13,132 | |
| Trade debts | 44 | €698 | €544 | -€154 | -22.0% |
| Suppliers | 440/4 | €698 | €544 | -€154 | -22.0% |
| Taxes, remuneration and social security | 45 | €28,105 | €17,984 | -€10,121 | -36.0% |
| Taxes | 450/3 | €28,105 | €17,984 | -€10,121 | -36.0% |
| Other amounts payable | 47/48 | €28,050 | €18,564 | -€9,486 | -33.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,140 | €7,097 | +€1,957 | +38.1% |
| Other operating charges | 640/8 | €1,644 | €1,734 | +€90 | +5.5% |
| Gross operating margin | 9900 | €66,295 | €28,431 | -€37,864 | -57.1% |
| Operating profit (loss) | 9901 | €59,511 | €19,600 | -€39,911 | -67.1% |
| Financial income | 75/76B | €381 | - | -€381 | |
| Recurring financial income | 75 | €381 | - | -€381 | |
| Financial charges | 65/66B | €57 | €1,866 | +€1,809 | +3173.0% |
| Recurring financial charges | 65 | €57 | €1,866 | +€1,809 | +3173.0% |
| Profit (loss) for the period before taxes | 9903 | €59,835 | €17,734 | -€42,101 | -70.4% |
| Income taxes | 67/77 | €17,880 | €18,278 | +€398 | +2.2% |
| Profit (loss) for the period | 9904 | €41,956 | -€544 | -€42,499 | |
| Profit (loss) for the period to be appropriated | 9905 | €41,956 | -€544 | -€42,499 |
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.