LERMADO: what changed
What changed
LERMADO
NACE 66.220, Insurance agents and brokers
filed annual accounts (NBB)
Net result for the year
€104,656
2024 · €99,802+€4,855
Equity
€259,561
2024 · €204,905+€54,656
Cash
€122,969
2024 · €177,003-€54,034
Balance sheet total
€313,438
2024 · €259,684+€53,754
Largest movements
Assets
- Current investments +€99,990
up €99,990 (+223%), from €44,866 to €144,856
- Cash -€54,034
down €54,034 (-30.5%), from €177,003 to €122,969
mainly Current investments (-€99,990) and Contributions, distributions and other (-€50,000)
- Tangible fixed assets +€8,290
up €8,290 (+74.2%), from €11,178 to €19,469
Equity and liabilities
- Profit (loss) carried forward +€54,656
up €54,656 (+107%), from €51,223 to €105,879
Income statement
- Financial income +€3,818
up €3,818 (+263%), from €1,451 to €5,269
- Gross operating margin +€2,685
up €2,685 (+2.0%), from €132,174 to €134,860
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€99,802
Gross operating margin
+€2,685
Staff costs
-€104
Depreciation
-€500
Other operating charges
+€210
Financial income
+€3,818
Financial charges
+€61
Taxes
-€1,316
Result 2025
€104,656
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€105,456
Investment
-€109,480
Financing
-€50,011
Cash 2024
€177,003
From operations (derived)
+€105,456
Net result for the year
+€104,656
Depreciation
+€1,200
Receivables within one year
+€492
Smaller working-capital items
-€75
Other debts
-€817
Investment (derived)
-€109,480
Investment in fixed assets (net)
-€9,490
Current investments
-€99,990
Financing
-€50,011
Current portion of long-term debt
-€11
Contributions, distributions and other
-€50,000
Cash 2025
€122,969
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €259,684 | €313,438 | +€53,754 | +20.7% |
| Fixed assets | 21/28 | €14,278 | €22,569 | +€8,290 | +58.1% |
| Tangible fixed assets | 22/27 | €11,178 | €19,469 | +€8,290 | +74.2% |
| Furniture and vehicles | 24 | €11,178 | €19,469 | +€8,290 | +74.2% |
| Financial fixed assets | 28 | €3,100 | €3,100 | = | 0.0% |
| Current assets | 29/58 | €245,406 | €290,870 | +€45,464 | +18.5% |
| Amounts receivable within one year | 40/41 | €23,536 | €23,045 | -€492 | -2.1% |
| Other amounts receivable | 41 | €23,536 | €23,045 | -€492 | -2.1% |
| Current investments | 50/53 | €44,866 | €144,856 | +€99,990 | +223% |
| Cash at bank and in hand | 54/58 | €177,003 | €122,969 | -€54,034 | -30.5% |
| Total equity and liabilities | 10/49 | €259,684 | €313,438 | +€53,754 | +20.7% |
| Equity | 10/15 | €204,905 | €259,561 | +€54,656 | +26.7% |
| Contributions | 10/11 | €14,651 | €14,651 | = | 0.0% |
| Reserves | 13 | €139,031 | €139,031 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,171 | €1,171 | = | 0.0% |
| Distributable reserves | 133 | €136,000 | €136,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €51,223 | €105,879 | +€54,656 | +107% |
| Amounts payable | 17/49 | €54,779 | €53,877 | -€902 | -1.6% |
| Amounts payable within one year | 42/48 | €54,779 | €53,877 | -€902 | -1.6% |
| Current portion of amounts payable after more than one year | 42 | €2,389 | €2,378 | -€11 | -0.4% |
| Trade debts | 44 | €830 | €652 | -€178 | -21.5% |
| Suppliers | 440/4 | €830 | €652 | -€178 | -21.5% |
| Taxes, remuneration and social security | 45 | €8,244 | €8,347 | +€103 | +1.3% |
| Taxes | 450/3 | €8,244 | €8,347 | +€103 | +1.3% |
| Other amounts payable | 47/48 | €43,317 | €42,500 | -€817 | -1.9% |
| Remuneration, social security and pensions | 62 | €2,253 | €2,357 | +€104 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €700 | €1,200 | +€500 | +71.4% |
| Other operating charges | 640/8 | €2,032 | €1,823 | -€210 | -10.3% |
| Gross operating margin | 9900 | €132,174 | €134,860 | +€2,685 | +2.0% |
| Operating profit (loss) | 9901 | €127,189 | €129,481 | +€2,292 | +1.8% |
| Financial income | 75/76B | €1,451 | €5,269 | +€3,818 | +263% |
| Recurring financial income | 75 | €1,451 | €5,269 | +€3,818 | +263% |
| Financial charges | 65/66B | €248 | €187 | -€61 | -24.7% |
| Recurring financial charges | 65 | €248 | €187 | -€61 | -24.7% |
| Profit (loss) for the period before taxes | 9903 | €128,393 | €134,563 | +€6,171 | +4.8% |
| Income taxes | 67/77 | €28,591 | €29,907 | +€1,316 | +4.6% |
| Profit (loss) for the period | 9904 | €99,802 | €104,656 | +€4,855 | +4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €99,802 | €104,656 | +€4,855 | +4.9% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.