LIMAC: 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.
What changed
LIMAC
NACE 70.200, Business and other management consultancy
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€75,661
2024 · -€47,126-€28,535
Equity
€2.5m
2024 · €2.6m-€75,661
Cash
€54,113
2024 · €86,217-€32,104
Balance sheet total
€5.4m
2024 · €5.6m-€200,991
Largest movements
Assets
- Tangible fixed assets -€181,292
down €181,292 (-3.6%), from €5.0m to €4.8m
of which Land and buildings: -€173,990
Equity and liabilities
- Debts after one year -€281,964
down €281,964 (-22.0%), from €1.3m to €999,447
- Other debts +€190,948
up €190,948 (+41.8%), from €456,475 to €647,423
- Reserves -€75,661
down €75,661 (-3.5%), from €2.1m to €2.1m
of which Distributable reserves: -€44,863
Income statement
- Gross operating margin -€91,100
down €91,100 (-36.9%), from €246,712 to €155,612
- Financial income +€24,308
up €24,308 (+331.5%), from €7,332 to €31,640
- Taxes -€18,475
down €18,475 (-71.5%), from €25,822 to €7,346
- Financial charges -€14,481
down €14,481 (-23.1%), from €62,614 to €48,133
of which Non-recurring financial charges: -€12,175
- Other operating charges -€3,362
down €3,362 (-20.0%), from €16,820 to €13,458
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
-€47,126
Gross operating margin
-€91,100
Depreciation
+€1,939
Other operating charges
+€3,362
Financial income
+€24,308
Financial charges
+€14,481
Taxes
+€18,475
Result 2025
-€75,661
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
+€278,495
Investment
-€30,990
Financing
-€279,608
Cash 2024
€86,217
From operations (derived)
+€278,495
Net result for the year
-€75,661
Depreciation
+€204,242
Receivables within one year
-€4,559
Smaller working-capital items
+€843
Provisions
-€10,266
Tax, wage and social debts
-€28,594
Other debts
+€190,948
Accrued charges and deferred income
+€1,541
Investment (derived)
-€30,990
Investment in fixed assets (net)
-€22,950
Current investments
-€8,040
Financing
-€279,608
Debts after one year
-€281,964
Current portion of long-term debt
+€2,356
Cash 2025
€54,113
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,555,141 | €5,354,149 | -€200,991 | -3.6% |
| Fixed assets | 21/28 | €5,004,815 | €4,823,523 | -€181,292 | -3.6% |
| Tangible fixed assets | 22/27 | €5,004,815 | €4,823,523 | -€181,292 | -3.6% |
| Land and buildings | 22 | €4,922,550 | €4,748,560 | -€173,990 | -3.5% |
| Plant, machinery and equipment | 23 | €385 | €0 | -€385 | -100.0% |
| Furniture and vehicles | 24 | €1,604 | €3,789 | +€2,185 | +136.2% |
| Other tangible fixed assets | 26 | €80,276 | €71,174 | -€9,101 | -11.3% |
| Current assets | 29/58 | €550,325 | €530,626 | -€19,699 | -3.6% |
| Amounts receivable within one year | 40/41 | €607 | €5,165 | +€4,559 | +751.2% |
| Trade receivables | 40 | €607 | €55 | -€552 | -91.0% |
| Other amounts receivable | 41 | €0 | €5,111 | +€5,111 | |
| Current investments | 50/53 | €444,259 | €452,300 | +€8,040 | +1.8% |
| Cash at bank and in hand | 54/58 | €86,217 | €54,113 | -€32,104 | -37.2% |
| Deferred charges and accrued income | 490/1 | €19,242 | €19,047 | -€195 | -1.0% |
| Total equity and liabilities | 10/49 | €5,555,141 | €5,354,149 | -€200,991 | -3.6% |
| Equity | 10/15 | €2,553,094 | €2,477,432 | -€75,661 | -3.0% |
| Contributions | 10/11 | €327,040 | €327,040 | = | 0.0% |
| Capital | 10 | €327,040 | €327,040 | = | 0.0% |
| Issued capital | 100 | €327,040 | €327,040 | = | 0.0% |
| Revaluation surpluses | 12 | €78,757 | €78,757 | = | 0.0% |
| Reserves | 13 | €2,147,296 | €2,071,635 | -€75,661 | -3.5% |
| Non-distributable reserves | 130/1 | €32,704 | €32,704 | = | 0.0% |
| Legal reserve | 130 | €32,704 | €32,704 | = | 0.0% |
| Tax-exempt reserves | 132 | €635,095 | €604,297 | -€30,798 | -4.8% |
| Distributable reserves | 133 | €1,479,498 | €1,434,634 | -€44,863 | -3.0% |
| Provisions and deferred taxes | 16 | €211,698 | €201,432 | -€10,266 | -4.8% |
| Deferred taxes | 168 | €211,698 | €201,432 | -€10,266 | -4.8% |
| Amounts payable | 17/49 | €2,790,349 | €2,675,285 | -€115,064 | -4.1% |
| Amounts payable after more than one year | 17 | €1,281,411 | €999,447 | -€281,964 | -22.0% |
| Financial debts | 170/4 | €1,281,411 | €999,447 | -€281,964 | -22.0% |
| Amounts payable within one year | 42/48 | €1,495,270 | €1,660,629 | +€165,359 | +11.1% |
| Current portion of amounts payable after more than one year | 42 | €279,608 | €281,964 | +€2,356 | +0.8% |
| Financial debts | 43 | €700,000 | €700,000 | = | 0.0% |
| Other loans | 439 | €700,000 | €700,000 | = | 0.0% |
| Trade debts | 44 | €16,332 | €16,980 | +€648 | +4.0% |
| Suppliers | 440/4 | €16,332 | €16,980 | +€648 | +4.0% |
| Advances received on contracts in progress | 46 | €7,270 | €7,270 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €35,586 | €6,992 | -€28,594 | -80.4% |
| Taxes | 450/3 | €35,586 | €6,992 | -€28,594 | -80.4% |
| Other amounts payable | 47/48 | €456,475 | €647,423 | +€190,948 | +41.8% |
| Accrued charges and deferred income | 492/3 | €13,667 | €15,209 | +€1,541 | +11.3% |
| Non-recurring operating income | 76A | €15,274 | €0 | -€15,274 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €206,181 | €204,242 | -€1,939 | -0.9% |
| Other operating charges | 640/8 | €16,820 | €13,458 | -€3,362 | -20.0% |
| Gross operating margin | 9900 | €246,712 | €155,612 | -€91,100 | -36.9% |
| Operating profit (loss) | 9901 | €23,711 | -€62,088 | -€85,800 | |
| Financial income | 75/76B | €7,332 | €31,640 | +€24,308 | +331.5% |
| Recurring financial income | 75 | €7,332 | €31,640 | +€24,308 | +331.5% |
| Financial charges | 65/66B | €62,614 | €48,133 | -€14,481 | -23.1% |
| Recurring financial charges | 65 | €50,439 | €48,133 | -€2,306 | -4.6% |
| Non-recurring financial charges | 66B | €12,175 | €0 | -€12,175 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€31,570 | -€78,581 | -€47,011 | -148.9% |
| Transfer from deferred taxes | 780 | €10,266 | €10,266 | = | 0.0% |
| Income taxes | 67/77 | €25,822 | €7,346 | -€18,475 | -71.5% |
| Profit (loss) for the period | 9904 | -€47,126 | -€75,661 | -€28,535 | -60.6% |
| Transfer from tax-exempt reserves | 789 | €30,798 | €30,798 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,328 | -€44,863 | -€28,535 | -174.8% |
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 10 October 2026 via checked.be.