LIMAX BELGIUM: 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 BELGIUM
Largest movements
- Tangible fixed assets +€20,107
up €20,107 (+12.1%), from €165,581 to €185,688
of which Furniture and vehicles: +€54,630
- Reserves +€19,142
up €19,142 (+6.9%), from €275,949 to €295,091
of which Distributable reserves: +€21,002
- Debts after one year -€6,824
down €6,824 (-70.8%), from €9,645 to €2,821
- Other debts +€4,246
new in 2025: €4,246
- Gross operating margin -€11,530
down €11,530 (-26.3%), from €43,782 to €32,251
- Taxes -€5,424
down €5,424 (-96.2%), from €5,637 to €212
- Financial charges +€3,116
up €3,116 (+4,098%), from €76 to €3,193
- Depreciation +€2,506
up €2,506 (+11.2%), from €22,400 to €24,906
- Other operating charges -€1,013
down €1,013 (-30.3%), from €3,341 to €2,328
From the 2022 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2022 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €313,225 | €330,602 | +€17,378 | +5.5% |
| Fixed assets | 21/28 | €165,581 | €185,688 | +€20,107 | +12.1% |
| Tangible fixed assets | 22/27 | €165,581 | €185,688 | +€20,107 | +12.1% |
| Land and buildings | 22 | €144,268 | €109,745 | -€34,524 | -23.9% |
| Furniture and vehicles | 24 | €21,313 | €75,944 | +€54,630 | +256% |
| Current assets | 29/58 | €147,643 | €144,914 | -€2,729 | -1.8% |
| Amounts receivable within one year | 40/41 | €23,688 | €21,782 | -€1,906 | -8.0% |
| Trade receivables | 40 | €12,282 | €14,230 | +€1,948 | +15.9% |
| Other amounts receivable | 41 | €11,407 | €7,552 | -€3,855 | -33.8% |
| Current investments | 50/53 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €123,955 | €121,531 | -€2,424 | -2.0% |
| Deferred charges and accrued income | 490/1 | €0 | €1,601 | +€1,601 | |
| Total equity and liabilities | 10/49 | €313,225 | €330,602 | +€17,378 | +5.5% |
| Equity | 10/15 | €288,349 | €307,491 | +€19,142 | +6.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €275,949 | €295,091 | +€19,142 | +6.9% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €274,089 | €295,091 | +€21,002 | +7.7% |
| Amounts payable | 17/49 | €24,876 | €23,111 | -€1,764 | -7.1% |
| Amounts payable after more than one year | 17 | €9,645 | €2,821 | -€6,824 | -70.8% |
| Financial debts | 170/4 | €9,645 | €2,821 | -€6,824 | -70.8% |
| Amounts payable within one year | 42/48 | €15,231 | €20,291 | +€5,060 | +33.2% |
| Current portion of amounts payable after more than one year | 42 | €2,275 | €2,275 | = | 0.0% |
| Trade debts | 44 | €2,224 | €4,353 | +€2,129 | +95.7% |
| Suppliers | 440/4 | €2,224 | €4,353 | +€2,129 | +95.7% |
| Taxes, remuneration and social security | 45 | €10,732 | €9,417 | -€1,315 | -12.2% |
| Taxes | 450/3 | €10,732 | €8,667 | -€2,065 | -19.2% |
| Remuneration and social security | 454/9 | - | €750 | +€750 | |
| Other amounts payable | 47/48 | - | €4,246 | +€4,246 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,400 | €24,906 | +€2,506 | +11.2% |
| Other operating charges | 640/8 | €3,341 | €2,328 | -€1,013 | -30.3% |
| Gross operating margin | 9900 | €43,782 | €32,251 | -€11,530 | -26.3% |
| Operating profit (loss) | 9901 | €18,041 | €5,018 | -€13,023 | -72.2% |
| Financial income | 75/76B | - | €861 | +€861 | |
| Recurring financial income | 75 | - | €861 | +€861 | |
| Financial charges | 65/66B | €76 | €3,193 | +€3,116 | +4,098% |
| Recurring financial charges | 65 | €76 | €3,193 | +€3,116 | +4,098% |
| Profit (loss) for the period before taxes | 9903 | €17,965 | €2,686 | -€15,279 | -85.0% |
| Income taxes | 67/77 | €5,637 | €212 | -€5,424 | -96.2% |
| Profit (loss) for the period | 9904 | €12,328 | €2,474 | -€9,854 | -79.9% |
| Profit (loss) for the period to be appropriated | 9905 | €12,328 | €2,474 | -€9,854 | -79.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.