LGMS: 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.
LGMS
Largest movements
- Receivables within one year +€21,552
up €21,552 (+274.4%), from €7,855 to €29,407
of which Trade receivables: +€21,438
- Cash -€17,847
down €17,847 (-32.4%), from €55,104 to €37,257
mainly Receivables within one year (-€21,552) and Debts after one year (-€12,346)
- Tangible fixed assets -€12,000
down €12,000 (-29.8%), from €40,274 to €28,274
of which Leasing and similar rights: -€12,000
- Reserves +€12,683
up €12,683 (+27.2%), from €46,572 to €59,255
- Debts after one year -€12,346
down €12,346 (-41.6%), from €29,711 to €17,365
- Tax, wage and social debts -€9,730
down €9,730 (-82.5%), from €11,798 to €2,068
of which Remuneration and social security: -€6,900
- Gross operating margin -€6,814
down €6,814 (-17.0%), from €40,043 to €33,229
- Taxes -€788
down €788 (-11.3%), from €6,948 to €6,160
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 | €106,424 | €97,702 | -€8,721 | -8.2% |
| Fixed assets | 21/28 | €40,274 | €28,274 | -€12,000 | -29.8% |
| Tangible fixed assets | 22/27 | €40,274 | €28,274 | -€12,000 | -29.8% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Leasing and similar rights | 25 | €40,274 | €28,274 | -€12,000 | -29.8% |
| Current assets | 29/58 | €66,150 | €69,428 | +€3,279 | +5.0% |
| Amounts receivable within one year | 40/41 | €7,855 | €29,407 | +€21,552 | +274.4% |
| Trade receivables | 40 | €7,855 | €29,292 | +€21,438 | +272.9% |
| Other amounts receivable | 41 | - | €115 | +€115 | |
| Cash at bank and in hand | 54/58 | €55,104 | €37,257 | -€17,847 | -32.4% |
| Deferred charges and accrued income | 490/1 | €3,191 | €2,764 | -€427 | -13.4% |
| Total equity and liabilities | 10/49 | €106,424 | €97,702 | -€8,721 | -8.2% |
| Equity | 10/15 | €51,572 | €64,255 | +€12,683 | +24.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €46,572 | €59,255 | +€12,683 | +27.2% |
| Distributable reserves | 133 | €46,572 | €59,255 | +€12,683 | +27.2% |
| Amounts payable | 17/49 | €54,851 | €33,447 | -€21,404 | -39.0% |
| Amounts payable after more than one year | 17 | €29,711 | €17,365 | -€12,346 | -41.6% |
| Financial debts | 170/4 | €29,711 | €17,365 | -€12,346 | -41.6% |
| Amounts payable within one year | 42/48 | €25,141 | €16,082 | -€9,058 | -36.0% |
| Current portion of amounts payable after more than one year | 42 | €11,794 | €12,346 | +€552 | +4.7% |
| Trade debts | 44 | €1,363 | €1,363 | = | 0.0% |
| Suppliers | 440/4 | €1,363 | €1,363 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €11,798 | €2,068 | -€9,730 | -82.5% |
| Taxes | 450/3 | €4,898 | €2,068 | -€2,830 | -57.8% |
| Remuneration and social security | 454/9 | €6,900 | €0 | -€6,900 | -100.0% |
| Other amounts payable | 47/48 | €187 | €306 | +€120 | +64.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,004 | €12,000 | -€4 | 0.0% |
| Other operating charges | 640/8 | €578 | €593 | +€15 | +2.7% |
| Gross operating margin | 9900 | €40,043 | €33,229 | -€6,814 | -17.0% |
| Operating profit (loss) | 9901 | €27,462 | €20,636 | -€6,826 | -24.9% |
| Financial charges | 65/66B | €2,112 | €1,793 | -€319 | -15.1% |
| Recurring financial charges | 65 | €2,112 | €1,793 | -€319 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | €25,350 | €18,843 | -€6,506 | -25.7% |
| Income taxes | 67/77 | €6,948 | €6,160 | -€788 | -11.3% |
| Profit (loss) for the period | 9904 | €18,401 | €12,683 | -€5,718 | -31.1% |
| Profit (loss) for the period to be appropriated | 9905 | €18,401 | €12,683 | -€5,718 | -31.1% |
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 3 October 2026 via checked.be.