LHM: 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.
What changed
LHM
NACE 27.900, Manufacture of electrical equipment
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€729,729
2024 · €1.1m-€400,477
Equity
€3.7m
2024 · €3.7m+€4,729
Cash
€988,012
2024 · €1.0m-€61,763
Balance sheet total
€7.2m
2024 · €7.0m+€274,967
Largest movements
Assets
- Tangible fixed assets +€477,007
up €477,007 (+36.4%), from €1.3m to €1.8m
of which Leasing and similar rights: +€500,133
- Receivables within one year -€179,822
down €179,822 (-12.6%), from €1.4m to €1.2m
of which Trade receivables: -€179,822
Equity and liabilities
- Short-term financial debts -€300,000
no longer reported in 2025 (was €300,000)
- Debts after one year +€266,852
up €266,852 (+33.5%), from €795,943 to €1.1m
- Trade debts +€108,741
up €108,741 (+15.5%), from €703,635 to €812,376
- Current portion of long-term debt +€102,943
up €102,943 (+26.8%), from €384,540 to €487,483
- Tax, wage and social debts +€79,176
up €79,176 (+38.8%), from €204,224 to €283,400
of which Taxes: +€75,027
Income statement
- Gross operating margin -€716,372
down €716,372 (-22.5%), from €3.2m to €2.5m
- Depreciation -€314,262
down €314,262 (-62.0%), from €506,930 to €192,668
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.
Result 2024
€1.1m
Gross operating margin
-€716,372
Staff costs
-€9,307
Depreciation
+€314,262
Other operating charges
+€16,137
Financial income
+€1,675
Financial charges
+€13,184
Taxes
-€20,056
Result 2025
€729,729
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.
From operations
+€1.3m
Investment
-€669,675
Financing
-€655,205
Cash 2024
€1.0m
From operations (derived)
+€1.3m
Net result for the year
+€729,729
Depreciation
+€192,668
Stocks and contracts
-€41,389
Receivables within one year
+€179,822
Deferred charges and accrued income
+€1,844
Trade debts
+€108,741
Tax, wage and social debts
+€79,176
Other debts
+€12,526
Investment (derived)
-€669,675
Investment in fixed assets (net)
-€669,675
Financing
-€655,205
Debts after one year
+€266,852
Current portion of long-term debt
+€102,943
Short-term financial debts
-€300,000
Contributions, distributions and other
-€725,000
Cash 2025
€988,012
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,965,248 | €7,240,215 | +€274,967 | +3.9% |
| Fixed assets | 21/28 | €1,309,813 | €1,786,820 | +€477,007 | +36.4% |
| Tangible fixed assets | 22/27 | €1,309,813 | €1,786,820 | +€477,007 | +36.4% |
| Land and buildings | 22 | €899,370 | €846,189 | -€53,181 | -5.9% |
| Plant, machinery and equipment | 23 | €389,473 | €390,671 | +€1,198 | +0.3% |
| Furniture and vehicles | 24 | €20,970 | €49,827 | +€28,857 | +137.6% |
| Leasing and similar rights | 25 | - | €500,133 | +€500,133 | |
| Current assets | 29/58 | €5,655,435 | €5,453,395 | -€202,040 | -3.6% |
| Stocks and contracts in progress | 3 | €3,150,226 | €3,191,615 | +€41,389 | +1.3% |
| Stocks | 30/36 | €2,912,674 | €2,942,523 | +€29,849 | +1.0% |
| Contracts in progress | 37 | €237,552 | €249,092 | +€11,540 | +4.9% |
| Amounts receivable within one year | 40/41 | €1,428,333 | €1,248,511 | -€179,822 | -12.6% |
| Trade receivables | 40 | €1,428,156 | €1,248,334 | -€179,822 | -12.6% |
| Other amounts receivable | 41 | €177 | €177 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,049,775 | €988,012 | -€61,763 | -5.9% |
| Deferred charges and accrued income | 490/1 | €27,101 | €25,257 | -€1,844 | -6.8% |
| Total equity and liabilities | 10/49 | €6,965,248 | €7,240,215 | +€274,967 | +3.9% |
| Equity | 10/15 | €3,732,957 | €3,737,686 | +€4,729 | +0.1% |
| Contributions | 10/11 | €198,315 | €198,315 | = | 0.0% |
| Capital | 10 | - | €198,315 | +€198,315 | |
| Issued capital | 100 | - | €198,315 | +€198,315 | |
| Reserves | 13 | €878,580 | €878,580 | = | 0.0% |
| Non-distributable reserves | 130/1 | €19,831 | €19,831 | = | 0.0% |
| Reserves not available under the articles | 1311 | €19,831 | €19,831 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €839,999 | €839,999 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,656,062 | €2,660,791 | +€4,729 | +0.2% |
| Amounts payable | 17/49 | €3,232,291 | €3,502,529 | +€270,238 | +8.4% |
| Amounts payable after more than one year | 17 | €795,943 | €1,062,795 | +€266,852 | +33.5% |
| Financial debts | 170/4 | €795,943 | €1,062,795 | +€266,852 | +33.5% |
| Amounts payable within one year | 42/48 | €2,436,348 | €2,439,734 | +€3,386 | +0.1% |
| Current portion of amounts payable after more than one year | 42 | €384,540 | €487,483 | +€102,943 | +26.8% |
| Financial debts | 43 | €300,000 | - | -€300,000 | |
| Credit institutions | 430/8 | €300,000 | - | -€300,000 | |
| Trade debts | 44 | €703,635 | €812,376 | +€108,741 | +15.5% |
| Suppliers | 440/4 | €703,635 | €812,376 | +€108,741 | +15.5% |
| Taxes, remuneration and social security | 45 | €204,224 | €283,400 | +€79,176 | +38.8% |
| Taxes | 450/3 | €39,385 | €114,412 | +€75,027 | +190.5% |
| Remuneration and social security | 454/9 | €164,839 | €168,988 | +€4,149 | +2.5% |
| Other amounts payable | 47/48 | €843,949 | €856,475 | +€12,526 | +1.5% |
| Remuneration, social security and pensions | 62 | €1,180,600 | €1,189,907 | +€9,307 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €506,930 | €192,668 | -€314,262 | -62.0% |
| Other operating charges | 640/8 | €30,676 | €14,539 | -€16,137 | -52.6% |
| Gross operating margin | 9900 | €3,183,521 | €2,467,149 | -€716,372 | -22.5% |
| Operating profit (loss) | 9901 | €1,465,315 | €1,070,035 | -€395,280 | -27.0% |
| Financial income | 75/76B | €4,416 | €6,091 | +€1,675 | +37.9% |
| Recurring financial income | 75 | €4,416 | €6,091 | +€1,675 | +37.9% |
| Financial charges | 65/66B | €126,821 | €113,637 | -€13,184 | -10.4% |
| Recurring financial charges | 65 | €126,821 | €113,637 | -€13,184 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | €1,342,910 | €962,489 | -€380,421 | -28.3% |
| Income taxes | 67/77 | €212,704 | €232,760 | +€20,056 | +9.4% |
| Profit (loss) for the period | 9904 | €1,130,206 | €729,729 | -€400,477 | -35.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,130,206 | €729,729 | -€400,477 | -35.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.