LEMLIGHT: 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.
LEMLIGHT
Largest movements
- Receivables within one year +€1.2m
up €1.2m (+198.2%), from €603,327 to €1.8m
of which Other amounts receivable: +€1.3m
- Cash -€790,140
down €790,140 (-58.2%), from €1.4m to €566,338
mainly Receivables within one year (-€1.2m) and Advances received (-€177,870)
- Tangible fixed assets -€112,063
down €112,063 (-20.3%), from €552,202 to €440,139
of which Land and buildings: -€148,328
- Reserves +€350,145
up €350,145 (+22.2%), from €1.6m to €1.9m
of which Distributable reserves: +€374,953
- Advances received -€177,870
no longer reported in 2025 (was €177,870)
- Trade debts +€152,532
up €152,532 (+76.7%), from €198,977 to €351,509
- Debts after one year -€91,145
down €91,145 (-68.4%), from €133,183 to €42,039
- Tax, wage and social debts +€63,561
up €63,561 (+105.1%), from €60,466 to €124,027
of which Taxes: +€59,711
- Gross operating margin -€417,165
down €417,165 (-42.3%), from €985,956 to €568,790
- Taxes -€127,070
down €127,070 (-42.8%), from €297,233 to €170,163
- Financial charges -€13,496
down €13,496 (-42.9%), from €31,423 to €17,927
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 | €2,545,110 | €2,862,953 | +€317,844 | +12.5% |
| Fixed assets | 21/28 | €560,000 | €447,936 | -€112,063 | -20.0% |
| Tangible fixed assets | 22/27 | €552,202 | €440,139 | -€112,063 | -20.3% |
| Land and buildings | 22 | €537,432 | €389,104 | -€148,328 | -27.6% |
| Plant, machinery and equipment | 23 | €223 | €186 | -€37 | -16.7% |
| Furniture and vehicles | 24 | €14,547 | €50,848 | +€36,302 | +249.5% |
| Financial fixed assets | 28 | €7,798 | €7,798 | = | 0.0% |
| Current assets | 29/58 | €1,985,110 | €2,415,017 | +€429,907 | +21.7% |
| Stocks and contracts in progress | 3 | €20,306 | €43,332 | +€23,026 | +113.4% |
| Stocks | 30/36 | €11,000 | €11,000 | = | 0.0% |
| Contracts in progress | 37 | €9,306 | €32,332 | +€23,026 | +247.4% |
| Amounts receivable within one year | 40/41 | €603,327 | €1,798,826 | +€1.2m | +198.2% |
| Trade receivables | 40 | €147,120 | €14,045 | -€133,074 | -90.5% |
| Other amounts receivable | 41 | €456,207 | €1,784,780 | +€1.3m | +291.2% |
| Cash at bank and in hand | 54/58 | €1,356,478 | €566,338 | -€790,140 | -58.2% |
| Deferred charges and accrued income | 490/1 | €4,999 | €6,521 | +€1,523 | +30.5% |
| Total equity and liabilities | 10/49 | €2,545,110 | €2,862,953 | +€317,844 | +12.5% |
| Equity | 10/15 | €1,429,308 | €1,779,453 | +€350,145 | +24.5% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €1,576,265 | €1,926,410 | +€350,145 | +22.2% |
| Non-distributable reserves | 130/1 | €70,550 | €70,550 | = | 0.0% |
| Legal reserve | 130 | €70,550 | €70,550 | = | 0.0% |
| Tax-exempt reserves | 132 | €423,161 | €398,353 | -€24,808 | -5.9% |
| Distributable reserves | 133 | €1,082,554 | €1,457,507 | +€374,953 | +34.6% |
| Profit (loss) carried forward | 14 | -€208,930 | -€208,930 | = | 0.0% |
| Provisions and deferred taxes | 16 | €429,532 | €421,263 | -€8,269 | -1.9% |
| Provisions for liabilities and charges | 160/5 | €224,146 | €224,146 | = | 0.0% |
| Pensions and similar obligations | 160 | €224,146 | €224,146 | = | 0.0% |
| Deferred taxes | 168 | €205,386 | €197,117 | -€8,269 | -4.0% |
| Amounts payable | 17/49 | €686,270 | €662,237 | -€24,032 | -3.5% |
| Amounts payable after more than one year | 17 | €133,183 | €42,039 | -€91,145 | -68.4% |
| Financial debts | 170/4 | €133,183 | €42,039 | -€91,145 | -68.4% |
| Amounts payable within one year | 42/48 | €548,166 | €614,445 | +€66,279 | +12.1% |
| Current portion of amounts payable after more than one year | 42 | €86,485 | €91,145 | +€4,659 | +5.4% |
| Trade debts | 44 | €198,977 | €351,509 | +€152,532 | +76.7% |
| Suppliers | 440/4 | €198,977 | €351,509 | +€152,532 | +76.7% |
| Advances received on contracts in progress | 46 | €177,870 | - | -€177,870 | |
| Taxes, remuneration and social security | 45 | €60,466 | €124,027 | +€63,561 | +105.1% |
| Taxes | 450/3 | €60,466 | €120,177 | +€59,711 | +98.8% |
| Remuneration and social security | 454/9 | - | €3,850 | +€3,850 | |
| Other amounts payable | 47/48 | €24,368 | €47,764 | +€23,396 | +96.0% |
| Accrued charges and deferred income | 492/3 | €4,920 | €5,754 | +€834 | +17.0% |
| Non-recurring operating income | 76A | €866,134 | €237,648 | -€628,486 | -72.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,583 | €52,472 | +€6,890 | +15.1% |
| Other operating charges | 640/8 | €13,336 | €10,740 | -€2,596 | -19.5% |
| Gross operating margin | 9900 | €985,956 | €568,790 | -€417,165 | -42.3% |
| Operating profit (loss) | 9901 | €927,037 | €505,578 | -€421,459 | -45.5% |
| Financial income | 75/76B | €33,312 | €24,388 | -€8,924 | -26.8% |
| Recurring financial income | 75 | €33,312 | €24,388 | -€8,924 | -26.8% |
| Financial charges | 65/66B | €31,423 | €17,927 | -€13,496 | -42.9% |
| Recurring financial charges | 65 | €31,423 | €17,927 | -€13,496 | -42.9% |
| Profit (loss) for the period before taxes | 9903 | €928,926 | €512,039 | -€416,888 | -44.9% |
| Transfer from deferred taxes | 780 | €6,709 | €8,269 | +€1,560 | +23.3% |
| Income taxes | 67/77 | €297,233 | €170,163 | -€127,070 | -42.8% |
| Profit (loss) for the period | 9904 | €638,402 | €350,145 | -€288,257 | -45.2% |
| Transfer from tax-exempt reserves | 789 | €20,127 | €24,808 | +€4,681 | +23.3% |
| Profit (loss) for the period to be appropriated | 9905 | €658,529 | €374,953 | -€283,576 | -43.1% |
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 5 October 2026 via checked.be.