Lermus: 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.
Lermus
Largest movements
- Deferred charges and accrued income +€91,354
up €91,354 (+751,881%), from €12 to €91,366
- Cash +€16,743
up €16,743 (+1,313%), from €1,275 to €18,018
mainly Net result for the year (+€434,155) and Depreciation (+€11,540)
- Reserves +€427,870
up €427,870 (+1,817%), from €23,551 to €451,422
- Short-term financial debts -€210,000
down €210,000 (-70.0%), from €300,000 to €90,000
- Other debts -€106,195
down €106,195 (-98.5%), from €107,861 to €1,666
- Debts after one year -€18,052
down €18,052 (-6.1%), from €296,447 to €278,395
- Financial income +€407,417
up €407,417 (+182,837%), from €223 to €407,639
- Gross operating margin +€57,372
up €57,372 (+976%), from €5,878 to €63,250
- Financial charges +€13,091
up €13,091 (+916%), from €1,429 to €14,519
- Taxes +€9,462
up €9,462, from €0 to €9,462
- Depreciation +€2,203
up €2,203 (+23.6%), from €9,337 to €11,540
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.
Derived cash bridge
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 | €950,433 | €1,058,950 | +€108,516 | +11.4% |
| Fixed assets | 21/28 | €933,350 | €928,844 | -€4,507 | -0.5% |
| Tangible fixed assets | 22/27 | €32,940 | €28,433 | -€4,507 | -13.7% |
| Plant, machinery and equipment | 23 | €6,915 | €8,875 | +€1,960 | +28.3% |
| Leasing and similar rights | 25 | €26,024 | €19,558 | -€6,466 | -24.8% |
| Financial fixed assets | 28 | €900,411 | €900,411 | = | 0.0% |
| Current assets | 29/58 | €17,083 | €130,106 | +€113,023 | +662% |
| Amounts receivable within one year | 40/41 | €15,795 | €19,735 | +€3,940 | +24.9% |
| Trade receivables | 40 | €8,161 | €12,487 | +€4,326 | +53.0% |
| Other amounts receivable | 41 | €7,634 | €7,248 | -€386 | -5.1% |
| Current investments | 50/53 | - | €986 | +€986 | |
| Cash at bank and in hand | 54/58 | €1,275 | €18,018 | +€16,743 | +1,313% |
| Deferred charges and accrued income | 490/1 | €12 | €91,366 | +€91,354 | +751,881% |
| Total equity and liabilities | 10/49 | €950,433 | €1,058,950 | +€108,516 | +11.4% |
| Equity | 10/15 | €222,932 | €655,422 | +€432,489 | +194% |
| Contributions | 10/11 | €204,000 | €204,000 | = | 0.0% |
| Reserves | 13 | €23,551 | €451,422 | +€427,870 | +1,817% |
| Distributable reserves | 133 | €23,551 | €451,422 | +€427,870 | +1,817% |
| Profit (loss) carried forward | 14 | -€4,619 | €0 | +€4,619 | |
| Amounts payable | 17/49 | €727,501 | €403,528 | -€323,973 | -44.5% |
| Amounts payable after more than one year | 17 | €296,447 | €278,395 | -€18,052 | -6.1% |
| Financial debts | 170/4 | €296,447 | €278,395 | -€18,052 | -6.1% |
| Amounts payable within one year | 42/48 | €431,054 | €121,378 | -€309,677 | -71.8% |
| Current portion of amounts payable after more than one year | 42 | €17,420 | €18,052 | +€632 | +3.6% |
| Financial debts | 43 | €300,000 | €90,000 | -€210,000 | -70.0% |
| Credit institutions | 430/8 | €300,000 | €90,000 | -€210,000 | -70.0% |
| Trade debts | 44 | €597 | €4,537 | +€3,940 | +660% |
| Suppliers | 440/4 | €597 | €4,537 | +€3,940 | +660% |
| Taxes, remuneration and social security | 45 | €5,177 | €7,123 | +€1,946 | +37.6% |
| Taxes | 450/3 | €2,524 | €4,124 | +€1,600 | +63.4% |
| Remuneration and social security | 454/9 | €2,653 | €2,999 | +€345 | +13.0% |
| Other amounts payable | 47/48 | €107,861 | €1,666 | -€106,195 | -98.5% |
| Accrued charges and deferred income | 492/3 | - | €3,755 | +€3,755 | |
| Non-recurring operating income | 76A | €285 | €47 | -€237 | -83.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,337 | €11,540 | +€2,203 | +23.6% |
| Other operating charges | 640/8 | €1,093 | €1,213 | +€120 | +11.0% |
| Gross operating margin | 9900 | €5,878 | €63,250 | +€57,372 | +976% |
| Operating profit (loss) | 9901 | -€4,551 | €50,497 | +€55,048 | |
| Financial income | 75/76B | €223 | €407,639 | +€407,417 | +182,837% |
| Recurring financial income | 75 | €223 | €407,639 | +€407,417 | +182,837% |
| Financial charges | 65/66B | €1,429 | €14,519 | +€13,091 | +916% |
| Recurring financial charges | 65 | €1,429 | €14,519 | +€13,091 | +916% |
| Profit (loss) for the period before taxes | 9903 | -€5,757 | €443,617 | +€449,374 | |
| Income taxes | 67/77 | €0 | €9,462 | +€9,462 | |
| Profit (loss) for the period | 9904 | -€5,757 | €434,155 | +€439,912 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,757 | €434,155 | +€439,912 |
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 17 October 2026 via checked.be.