LEMI: 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.
LEMI
Largest movements
- Receivables within one year -€45,557
down €45,557 (-30.5%), from €149,608 to €104,051
of which Trade receivables: -€68,280
- Tangible fixed assets +€45,087
up €45,087 (+16.9%), from €266,145 to €311,232
of which Furniture and vehicles: +€58,381
- Cash +€38,878
up €38,878 (+136.9%), from €28,392 to €67,270
mainly Depreciation (+€49,577) and Receivables within one year (+€45,557)
- Current investments -€10,368
down €10,368 (-11.2%), from €92,219 to €81,851
- Reserves +€33,678
up €33,678 (+8.0%), from €422,836 to €456,514
of which Distributable reserves: +€35,253
- Trade debts -€6,786
down €6,786 (-85.4%), from €7,945 to €1,159
- Gross operating margin -€108,295
down €108,295 (-50.3%), from €215,193 to €106,898
- Taxes -€31,184
down €31,184 (-61.4%), from €50,808 to €19,624
- Staff costs -€20,603
down €20,603 (-98.9%), from €20,837 to €234
- Depreciation +€5,999
up €5,999 (+13.8%), from €43,579 to €49,577
- Financial charges +€5,018
up €5,018 (+75.5%), from €6,643 to €11,661
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 | €548,887 | €574,752 | +€25,865 | +4.7% |
| Fixed assets | 21/28 | €268,390 | €313,098 | +€44,708 | +16.7% |
| Intangible fixed assets | 21 | €758 | €379 | -€379 | -50.0% |
| Tangible fixed assets | 22/27 | €266,145 | €311,232 | +€45,087 | +16.9% |
| Land and buildings | 22 | €169,487 | €162,975 | -€6,513 | -3.8% |
| Plant, machinery and equipment | 23 | €18,491 | €11,910 | -€6,581 | -35.6% |
| Furniture and vehicles | 24 | €76,333 | €134,714 | +€58,381 | +76.5% |
| Other tangible fixed assets | 26 | €1,833 | €1,633 | -€200 | -10.9% |
| Financial fixed assets | 28 | €1,487 | €1,487 | = | 0.0% |
| Current assets | 29/58 | €280,497 | €261,654 | -€18,843 | -6.7% |
| Stocks and contracts in progress | 3 | €4,965 | €4,615 | -€350 | -7.0% |
| Stocks | 30/36 | €4,965 | €4,615 | -€350 | -7.0% |
| Amounts receivable within one year | 40/41 | €149,608 | €104,051 | -€45,557 | -30.5% |
| Trade receivables | 40 | €74,088 | €5,808 | -€68,280 | -92.2% |
| Other amounts receivable | 41 | €75,520 | €98,244 | +€22,723 | +30.1% |
| Current investments | 50/53 | €92,219 | €81,851 | -€10,368 | -11.2% |
| Cash at bank and in hand | 54/58 | €28,392 | €67,270 | +€38,878 | +136.9% |
| Deferred charges and accrued income | 490/1 | €5,313 | €3,867 | -€1,446 | -27.2% |
| Total equity and liabilities | 10/49 | €548,887 | €574,752 | +€25,865 | +4.7% |
| Equity | 10/15 | €502,836 | €536,514 | +€33,678 | +6.7% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €422,836 | €456,514 | +€33,678 | +8.0% |
| Tax-exempt reserves | 132 | €4,794 | €3,219 | -€1,575 | -32.9% |
| Distributable reserves | 133 | €418,042 | €453,295 | +€35,253 | +8.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €1,598 | €1,073 | -€525 | -32.9% |
| Deferred taxes | 168 | €1,598 | €1,073 | -€525 | -32.9% |
| Amounts payable | 17/49 | €44,453 | €37,165 | -€7,287 | -16.4% |
| Amounts payable after more than one year | 17 | €14,294 | €12,176 | -€2,118 | -14.8% |
| Financial debts | 170/4 | €14,294 | €12,176 | -€2,118 | -14.8% |
| Amounts payable within one year | 42/48 | €29,119 | €23,501 | -€5,617 | -19.3% |
| Current portion of amounts payable after more than one year | 42 | €21,173 | €19,403 | -€1,770 | -8.4% |
| Financial debts | 43 | - | €1 | +€1 | |
| Credit institutions | 430/8 | - | €1 | +€1 | |
| Trade debts | 44 | €7,945 | €1,159 | -€6,786 | -85.4% |
| Suppliers | 440/4 | €7,945 | €1,159 | -€6,786 | -85.4% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €0 | €2,939 | +€2,939 | |
| Taxes | 450/3 | €0 | €2,939 | +€2,939 | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €1,040 | €1,487 | +€448 | +43.1% |
| Remuneration, social security and pensions | 62 | €20,837 | €234 | -€20,603 | -98.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,579 | €49,577 | +€5,999 | +13.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €2,334 | €2,517 | +€182 | +7.8% |
| Gross operating margin | 9900 | €215,193 | €106,898 | -€108,295 | -50.3% |
| Operating profit (loss) | 9901 | €148,444 | €54,571 | -€93,873 | -63.2% |
| Financial income | 75/76B | €9,533 | €9,868 | +€335 | +3.5% |
| Recurring financial income | 75 | €9,533 | €9,868 | +€335 | +3.5% |
| Financial charges | 65/66B | €6,643 | €11,661 | +€5,018 | +75.5% |
| Recurring financial charges | 65 | €6,643 | €11,661 | +€5,018 | +75.5% |
| Profit (loss) for the period before taxes | 9903 | €151,333 | €52,777 | -€98,556 | -65.1% |
| Transfer from deferred taxes | 780 | €525 | €525 | = | 0.0% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €50,808 | €19,624 | -€31,184 | -61.4% |
| Profit (loss) for the period | 9904 | €101,050 | €33,678 | -€67,372 | -66.7% |
| Transfer from tax-exempt reserves | 789 | €1,575 | €1,575 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €102,625 | €35,253 | -€67,372 | -65.6% |
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 9 October 2026 via checked.be.