LFM: 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.
LFM
Largest movements
- Tangible fixed assets -€11,880
down €11,880 (-36.5%), from €32,548 to €20,668
of which Leasing and similar rights: -€8,951
- Cash -€11,476
down €11,476 (-82.8%), from €13,858 to €2,381
mainly Debts after one year (-€9,270) and Other debts (-€6,174)
- Receivables within one year +€4,421
up €4,421 (+204%), from €2,163 to €6,584
of which Other amounts receivable: +€5,247
- Deferred charges and accrued income -€2,547
down €2,547 (-86.6%), from €2,941 to €394
- Debts after one year -€9,270
down €9,270 (-67.9%), from €13,660 to €4,390
- Other debts -€6,174
down €6,174 (-100%), from €6,174 to €0
- Tax, wage and social debts -€4,196
down €4,196 (-100%), from €4,196 to €0
of which Remuneration and social security: -€2,562
- Profit (loss) carried forward -€1,994
down €1,994 (-15.0%), from €13,299 to €11,305
- Gross operating margin -€9,669
down €9,669 (-39.3%), from €24,619 to €14,950
- Taxes -€2,031
down €2,031 (-71.0%), from €2,860 to €829
- Depreciation -€804
down €804 (-5.4%), from €14,967 to €14,163
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 | €51,509 | €30,027 | -€21,482 | -41.7% |
| Fixed assets | 21/28 | €32,548 | €20,668 | -€11,880 | -36.5% |
| Tangible fixed assets | 22/27 | €32,548 | €20,668 | -€11,880 | -36.5% |
| Plant, machinery and equipment | 23 | €8,641 | €7,092 | -€1,549 | -17.9% |
| Furniture and vehicles | 24 | €2,693 | €1,314 | -€1,380 | -51.2% |
| Leasing and similar rights | 25 | €21,213 | €12,262 | -€8,951 | -42.2% |
| Current assets | 29/58 | €18,962 | €9,359 | -€9,603 | -50.6% |
| Amounts receivable within one year | 40/41 | €2,163 | €6,584 | +€4,421 | +204% |
| Trade receivables | 40 | €826 | €0 | -€826 | -100% |
| Other amounts receivable | 41 | €1,337 | €6,584 | +€5,247 | +393% |
| Cash at bank and in hand | 54/58 | €13,858 | €2,381 | -€11,476 | -82.8% |
| Deferred charges and accrued income | 490/1 | €2,941 | €394 | -€2,547 | -86.6% |
| Total equity and liabilities | 10/49 | €51,509 | €30,027 | -€21,482 | -41.7% |
| Equity | 10/15 | €15,299 | €13,305 | -€1,994 | -13.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,299 | €11,305 | -€1,994 | -15.0% |
| Amounts payable | 17/49 | €36,210 | €16,722 | -€19,488 | -53.8% |
| Amounts payable after more than one year | 17 | €13,660 | €4,390 | -€9,270 | -67.9% |
| Financial debts | 170/4 | €13,660 | €4,390 | -€9,270 | -67.9% |
| Amounts payable within one year | 42/48 | €22,550 | €12,332 | -€10,218 | -45.3% |
| Current portion of amounts payable after more than one year | 42 | €9,005 | €9,270 | +€265 | +2.9% |
| Financial debts | 43 | €1,352 | €1,346 | -€6 | -0.5% |
| Credit institutions | 430/8 | €1,352 | €1,346 | -€6 | -0.5% |
| Trade debts | 44 | €1,823 | €1,716 | -€107 | -5.9% |
| Suppliers | 440/4 | €1,823 | €1,716 | -€107 | -5.9% |
| Taxes, remuneration and social security | 45 | €4,196 | €0 | -€4,196 | -100% |
| Taxes | 450/3 | €1,634 | €0 | -€1,634 | -100% |
| Remuneration and social security | 454/9 | €2,562 | €0 | -€2,562 | -100% |
| Other amounts payable | 47/48 | €6,174 | €0 | -€6,174 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,967 | €14,163 | -€804 | -5.4% |
| Other operating charges | 640/8 | €1,054 | €1,235 | +€181 | +17.2% |
| Gross operating margin | 9900 | €24,619 | €14,950 | -€9,669 | -39.3% |
| Operating profit (loss) | 9901 | €8,599 | -€448 | -€9,047 | |
| Financial income | 75/76B | - | €25 | +€25 | |
| Recurring financial income | 75 | - | €25 | +€25 | |
| Financial charges | 65/66B | €983 | €743 | -€240 | -24.4% |
| Recurring financial charges | 65 | €983 | €743 | -€240 | -24.4% |
| Profit (loss) for the period before taxes | 9903 | €7,615 | -€1,166 | -€8,781 | |
| Income taxes | 67/77 | €2,860 | €829 | -€2,031 | -71.0% |
| Profit (loss) for the period | 9904 | €4,755 | -€1,994 | -€6,750 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,755 | -€1,994 | -€6,750 |
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.