LEMCA: 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.
LEMCA
Largest movements
- Cash -€191,720
down €191,720 (-92.3%), from €207,803 to €16,083
mainly Short-term financial debts (-€247,118) and Net result for the year (-€70,507)
- Stocks and contracts +€20,074
up €20,074 (+3.6%), from €555,767 to €575,842
- Tangible fixed assets -€16,294
down €16,294 (-19.9%), from €81,694 to €65,400
- Short-term financial debts -€247,118
down €247,118 (-85.6%), from €288,623 to €41,505
- Debts after one year +€160,394
up €160,394 (+56.4%), from €284,198 to €444,592
of which Other amounts payable: +€200,000
- Profit (loss) carried forward -€70,507
down €70,507 (-144.0%), from -€48,977 to -€119,484
- Other debts -€33,796
down €33,796 (-88.9%), from €38,006 to €4,211
- Gross operating margin -€64,843
down €64,843 (-63.7%), from €101,716 to €36,874
- Financial charges -€9,785
down €9,785 (-30.1%), from €32,489 to €22,704
- Depreciation +€3,723
up €3,723 (+21.2%), from €17,595 to €21,317
- Financial income +€3,125
up €3,125 (+108.7%), from €2,874 to €5,998
- Staff costs -€2,647
down €2,647 (-4.0%), from €66,000 to €63,354
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 | €907,662 | €719,298 | -€188,365 | -20.8% |
| Fixed assets | 21/28 | €82,294 | €66,000 | -€16,294 | -19.8% |
| Tangible fixed assets | 22/27 | €81,694 | €65,400 | -€16,294 | -19.9% |
| Plant, machinery and equipment | 23 | €30 | €0 | -€30 | -100.0% |
| Furniture and vehicles | 24 | €39,955 | €32,816 | -€7,139 | -17.9% |
| Leasing and similar rights | 25 | €28,769 | €21,726 | -€7,043 | -24.5% |
| Other tangible fixed assets | 26 | €12,940 | €10,858 | -€2,082 | -16.1% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €825,368 | €653,298 | -€172,070 | -20.8% |
| Stocks and contracts in progress | 3 | €555,767 | €575,842 | +€20,074 | +3.6% |
| Stocks | 30/36 | €555,767 | €575,842 | +€20,074 | +3.6% |
| Amounts receivable within one year | 40/41 | €54,508 | €53,606 | -€902 | -1.7% |
| Trade receivables | 40 | €54,508 | €53,606 | -€902 | -1.7% |
| Cash at bank and in hand | 54/58 | €207,803 | €16,083 | -€191,720 | -92.3% |
| Deferred charges and accrued income | 490/1 | €7,290 | €7,767 | +€477 | +6.5% |
| Total equity and liabilities | 10/49 | €907,662 | €719,298 | -€188,365 | -20.8% |
| Equity | 10/15 | €88,523 | €18,016 | -€70,507 | -79.6% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €12,500 | €12,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€48,977 | -€119,484 | -€70,507 | -144.0% |
| Amounts payable | 17/49 | €819,139 | €701,282 | -€117,857 | -14.4% |
| Amounts payable after more than one year | 17 | €284,198 | €444,592 | +€160,394 | +56.4% |
| Financial debts | 170/4 | €94,198 | €54,592 | -€39,606 | -42.0% |
| Other amounts payable | 178/9 | €190,000 | €390,000 | +€200,000 | +105.3% |
| Amounts payable within one year | 42/48 | €534,942 | €256,690 | -€278,251 | -52.0% |
| Current portion of amounts payable after more than one year | 42 | €37,719 | €39,606 | +€1,886 | +5.0% |
| Financial debts | 43 | €288,623 | €41,505 | -€247,118 | -85.6% |
| Credit institutions | 430/8 | €288,623 | €41,505 | -€247,118 | -85.6% |
| Trade debts | 44 | €134,948 | €129,699 | -€5,249 | -3.9% |
| Suppliers | 440/4 | €134,948 | €129,699 | -€5,249 | -3.9% |
| Advances received on contracts in progress | 46 | €823 | €2,666 | +€1,843 | +223.9% |
| Taxes, remuneration and social security | 45 | €34,822 | €39,004 | +€4,182 | +12.0% |
| Taxes | 450/3 | €28,548 | €31,134 | +€2,586 | +9.1% |
| Remuneration and social security | 454/9 | €6,274 | €7,869 | +€1,595 | +25.4% |
| Other amounts payable | 47/48 | €38,006 | €4,211 | -€33,796 | -88.9% |
| Non-recurring operating income | 76A | €7,925 | €4,525 | -€3,400 | -42.9% |
| Remuneration, social security and pensions | 62 | €66,000 | €63,354 | -€2,647 | -4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,595 | €21,317 | +€3,723 | +21.2% |
| Other operating charges | 640/8 | €4,085 | €5,080 | +€995 | +24.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €101,716 | €36,874 | -€64,843 | -63.7% |
| Operating profit (loss) | 9901 | €14,036 | -€52,878 | -€66,914 | |
| Financial income | 75/76B | €2,874 | €5,998 | +€3,125 | +108.7% |
| Recurring financial income | 75 | €2,874 | €5,998 | +€3,125 | +108.7% |
| Financial charges | 65/66B | €32,489 | €22,704 | -€9,785 | -30.1% |
| Recurring financial charges | 65 | €32,489 | €22,704 | -€9,785 | -30.1% |
| Profit (loss) for the period before taxes | 9903 | -€15,579 | -€69,583 | -€54,004 | -346.6% |
| Income taxes | 67/77 | €968 | €924 | -€43 | -4.5% |
| Profit (loss) for the period | 9904 | -€16,547 | -€70,507 | -€53,961 | -326.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,547 | -€70,507 | -€53,961 | -326.1% |
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 28 September 2026 via checked.be.