LIMAX: 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.
LIMAX
Largest movements
- Cash +€18,362
up €18,362 (+20.3%), from €90,396 to €108,758
mainly Net result for the year (+€68,490) and Stocks and contracts (+€17,875)
- Stocks and contracts -€17,875
down €17,875 (-11.4%), from €156,998 to €139,124
- Receivables within one year +€17,752
up €17,752 (+108%), from €16,440 to €34,192
of which Other amounts receivable: +€17,752
- Tangible fixed assets -€8,088
down €8,088 (-25.2%), from €32,050 to €23,962
of which Other tangible fixed assets: -€4,816
- Reserves +€68,450
up €68,450 (+36.5%), from €187,600 to €256,050
- Trade debts -€31,559
down €31,559 (-81.6%), from €38,666 to €7,107
- Debts after one year -€30,700
no longer reported in 2025 (was €30,700)
- Other debts +€5,097
up €5,097 (+26.9%), from €18,937 to €24,034
- Gross operating margin +€49,849
up €49,849 (+65.5%), from €76,128 to €125,977
- Taxes +€15,062
up €15,062 (+93.7%), from €16,075 to €31,136
- Financial charges +€1,984
up €1,984 (+23.3%), from €8,501 to €10,484
- Depreciation -€1,414
down €1,414 (-9.5%), from €14,894 to €13,480
- Staff costs +€1,367
new in 2025: €1,367
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 | €310,563 | €319,732 | +€9,169 | +3.0% |
| Fixed assets | 21/28 | €37,570 | €29,482 | -€8,088 | -21.5% |
| Tangible fixed assets | 22/27 | €32,050 | €23,962 | -€8,088 | -25.2% |
| Plant, machinery and equipment | 23 | €1,380 | €1,042 | -€338 | -24.5% |
| Furniture and vehicles | 24 | €8,739 | €5,805 | -€2,934 | -33.6% |
| Other tangible fixed assets | 26 | €21,931 | €17,114 | -€4,816 | -22.0% |
| Financial fixed assets | 28 | €5,520 | €5,520 | = | 0.0% |
| Current assets | 29/58 | €272,992 | €290,250 | +€17,258 | +6.3% |
| Stocks and contracts in progress | 3 | €156,998 | €139,124 | -€17,875 | -11.4% |
| Stocks | 30/36 | €156,998 | €139,124 | -€17,875 | -11.4% |
| Amounts receivable within one year | 40/41 | €16,440 | €34,192 | +€17,752 | +108% |
| Trade receivables | 40 | - | €0 | = | |
| Other amounts receivable | 41 | €16,440 | €34,192 | +€17,752 | +108% |
| Cash at bank and in hand | 54/58 | €90,396 | €108,758 | +€18,362 | +20.3% |
| Deferred charges and accrued income | 490/1 | €9,158 | €8,176 | -€982 | -10.7% |
| Total equity and liabilities | 10/49 | €310,563 | €319,732 | +€9,169 | +3.0% |
| Equity | 10/15 | €207,727 | €276,216 | +€68,490 | +33.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €187,600 | €256,050 | +€68,450 | +36.5% |
| Distributable reserves | 133 | €187,600 | €256,050 | +€68,450 | +36.5% |
| Profit (loss) carried forward | 14 | €127 | €166 | +€40 | +31.3% |
| Amounts payable | 17/49 | €102,836 | €43,516 | -€59,320 | -57.7% |
| Amounts payable after more than one year | 17 | €30,700 | - | -€30,700 | |
| Financial debts | 170/4 | €30,700 | - | -€30,700 | |
| Amounts payable within one year | 42/48 | €71,859 | €42,985 | -€28,874 | -40.2% |
| Trade debts | 44 | €38,666 | €7,107 | -€31,559 | -81.6% |
| Suppliers | 440/4 | €38,666 | €7,107 | -€31,559 | -81.6% |
| Taxes, remuneration and social security | 45 | €14,256 | €11,844 | -€2,412 | -16.9% |
| Taxes | 450/3 | €14,256 | €11,844 | -€2,412 | -16.9% |
| Other amounts payable | 47/48 | €18,937 | €24,034 | +€5,097 | +26.9% |
| Accrued charges and deferred income | 492/3 | €277 | €531 | +€254 | +91.9% |
| Non-recurring operating income | 76A | €18,182 | - | -€18,182 | |
| Remuneration, social security and pensions | 62 | - | €1,367 | +€1,367 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,894 | €13,480 | -€1,414 | -9.5% |
| Other operating charges | 640/8 | €3,483 | €3,775 | +€292 | +8.4% |
| Gross operating margin | 9900 | €76,128 | €125,977 | +€49,849 | +65.5% |
| Operating profit (loss) | 9901 | €57,750 | €107,354 | +€49,604 | +85.9% |
| Financial income | 75/76B | €3,460 | €2,756 | -€704 | -20.4% |
| Recurring financial income | 75 | €3,460 | €2,756 | -€704 | -20.4% |
| Financial charges | 65/66B | €8,501 | €10,484 | +€1,984 | +23.3% |
| Recurring financial charges | 65 | €8,501 | €10,484 | +€1,984 | +23.3% |
| Profit (loss) for the period before taxes | 9903 | €52,710 | €99,626 | +€46,916 | +89.0% |
| Income taxes | 67/77 | €16,075 | €31,136 | +€15,062 | +93.7% |
| Profit (loss) for the period | 9904 | €36,636 | €68,490 | +€31,854 | +86.9% |
| Profit (loss) for the period to be appropriated | 9905 | €36,636 | €68,490 | +€31,854 | +86.9% |
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 21 October 2026 via checked.be.