LIMAR CONCEPT: 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.
LIMAR CONCEPT
Largest movements
- Receivables within one year -€119,509
down €119,509 (-44.7%), from €267,176 to €147,667
of which Trade receivables: -€102,187
- Cash -€105,072
down €105,072 (-29.0%), from €362,661 to €257,589
mainly Other debts (-€289,015) and Contributions, distributions and other (-€132,905)
- Tangible fixed assets +€14,851
up €14,851 (+197%), from €7,556 to €22,407
- Other debts -€289,015
down €289,015 (-89.8%), from €321,920 to €32,905
- Accrued charges and deferred income +€37,918
up €37,918 (+244%), from €15,566 to €53,484
- Profit (loss) carried forward +€32,616
up €32,616 (+16.6%), from €196,608 to €229,224
- Trade debts -€28,010
down €28,010 (-18.0%), from €155,989 to €127,979
- Advances received +€27,789
up €27,789 (+71.3%), from €38,992 to €66,780
- Gross operating margin +€91,582
up €91,582 (+23.0%), from €398,877 to €490,459
- Staff costs +€35,784
up €35,784 (+16.9%), from €211,919 to €247,703
- Taxes +€23,512
up €23,512 (+74.1%), from €31,710 to €55,222
- Write-downs -€15,557
no longer reported in 2025 (was €15,557)
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 | €804,449 | €584,328 | -€220,121 | -27.4% |
| Fixed assets | 21/28 | €9,556 | €24,407 | +€14,851 | +155% |
| Tangible fixed assets | 22/27 | €7,556 | €22,407 | +€14,851 | +197% |
| Furniture and vehicles | 24 | €7,556 | €22,407 | +€14,851 | +197% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €794,892 | €559,921 | -€234,972 | -29.6% |
| Stocks and contracts in progress | 3 | €152,199 | €144,584 | -€7,615 | -5.0% |
| Stocks | 30/36 | €152,199 | €144,584 | -€7,615 | -5.0% |
| Amounts receivable within one year | 40/41 | €267,176 | €147,667 | -€119,509 | -44.7% |
| Trade receivables | 40 | €249,853 | €147,667 | -€102,187 | -40.9% |
| Other amounts receivable | 41 | €17,323 | - | -€17,323 | |
| Cash at bank and in hand | 54/58 | €362,661 | €257,589 | -€105,072 | -29.0% |
| Deferred charges and accrued income | 490/1 | €12,857 | €10,081 | -€2,776 | -21.6% |
| Total equity and liabilities | 10/49 | €804,449 | €584,328 | -€220,121 | -27.4% |
| Equity | 10/15 | €217,068 | €249,684 | +€32,616 | +15.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €196,608 | €229,224 | +€32,616 | +16.6% |
| Amounts payable | 17/49 | €587,380 | €334,644 | -€252,737 | -43.0% |
| Amounts payable within one year | 42/48 | €571,814 | €281,160 | -€290,654 | -50.8% |
| Trade debts | 44 | €155,989 | €127,979 | -€28,010 | -18.0% |
| Suppliers | 440/4 | €155,989 | €127,979 | -€28,010 | -18.0% |
| Advances received on contracts in progress | 46 | €38,992 | €66,780 | +€27,789 | +71.3% |
| Taxes, remuneration and social security | 45 | €54,913 | €53,495 | -€1,419 | -2.6% |
| Taxes | 450/3 | €27,591 | €23,391 | -€4,201 | -15.2% |
| Remuneration and social security | 454/9 | €27,322 | €30,104 | +€2,782 | +10.2% |
| Other amounts payable | 47/48 | €321,920 | €32,905 | -€289,015 | -89.8% |
| Accrued charges and deferred income | 492/3 | €15,566 | €53,484 | +€37,918 | +244% |
| Non-recurring operating income | 76A | - | €135 | +€135 | |
| Remuneration, social security and pensions | 62 | €211,919 | €247,703 | +€35,784 | +16.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,250 | €8,291 | +€41 | +0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €15,557 | - | -€15,557 | |
| Other operating charges | 640/8 | €4,824 | €5,893 | +€1,068 | +22.1% |
| Non-recurring operating charges | 66A | - | €3,230 | +€3,230 | |
| Gross operating margin | 9900 | €398,877 | €490,459 | +€91,582 | +23.0% |
| Operating profit (loss) | 9901 | €158,326 | €225,342 | +€67,016 | +42.3% |
| Financial income | 75/76B | €110 | €75 | -€35 | -31.6% |
| Recurring financial income | 75 | €110 | €75 | -€35 | -31.6% |
| Financial charges | 65/66B | €4,407 | €4,674 | +€267 | +6.1% |
| Recurring financial charges | 65 | €4,407 | €4,674 | +€267 | +6.1% |
| Profit (loss) for the period before taxes | 9903 | €154,029 | €220,743 | +€66,714 | +43.3% |
| Income taxes | 67/77 | €31,710 | €55,222 | +€23,512 | +74.1% |
| Profit (loss) for the period | 9904 | €122,319 | €165,521 | +€43,202 | +35.3% |
| Profit (loss) for the period to be appropriated | 9905 | €122,319 | €165,521 | +€43,202 | +35.3% |
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 16 October 2026 via checked.be.