LJ MANAGEMENT: 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.
LJ MANAGEMENT
Largest movements
- Stocks and contracts -€41,250
down €41,250 (-16.3%), from €252,820 to €211,570
- Cash +€39,674
up €39,674 (+38.2%), from €103,791 to €143,465
mainly Depreciation (+€50,645) and Stocks and contracts (+€41,250)
- Trade debts +€17,361
new in 2025: €17,361
- Debts after one year -€14,208
down €14,208 (-1.4%), from €1.0m to €1.0m
- Gross operating margin +€43,624
up €43,624 (+61.9%), from €70,467 to €114,091
- Taxes +€13,458
up €13,458 (+2,478%), from €543 to €14,001
- Depreciation +€7,784
up €7,784 (+18.2%), from €42,861 to €50,645
- Financial income -€4,920
down €4,920 (-53.6%), from €9,173 to €4,253
of which Non-recurring financial income: -€4,548
- Staff costs +€1,909
up €1,909 (+5.7%), from €33,203 to €35,112
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 | €1,320,423 | €1,320,808 | +€384 | 0.0% |
| Fixed assets | 21/28 | €943,212 | €943,947 | +€735 | +0.1% |
| Tangible fixed assets | 22/27 | €943,212 | €943,947 | +€735 | +0.1% |
| Land and buildings | 22 | €924,864 | €907,568 | -€17,296 | -1.9% |
| Plant, machinery and equipment | 23 | €6,344 | €7,088 | +€744 | +11.7% |
| Furniture and vehicles | 24 | €12,004 | €29,291 | +€17,287 | +144% |
| Current assets | 29/58 | €377,211 | €376,861 | -€351 | -0.1% |
| Stocks and contracts in progress | 3 | €252,820 | €211,570 | -€41,250 | -16.3% |
| Stocks | 30/36 | €252,820 | €211,570 | -€41,250 | -16.3% |
| Amounts receivable within one year | 40/41 | €16,913 | €16,449 | -€465 | -2.7% |
| Trade receivables | 40 | €2,549 | €16,449 | +€13,899 | +545% |
| Other amounts receivable | 41 | €14,364 | - | -€14,364 | |
| Current investments | 50/53 | - | €1,100 | +€1,100 | |
| Cash at bank and in hand | 54/58 | €103,791 | €143,465 | +€39,674 | +38.2% |
| Deferred charges and accrued income | 490/1 | €3,687 | €4,277 | +€590 | +16.0% |
| Total equity and liabilities | 10/49 | €1,320,423 | €1,320,808 | +€384 | 0.0% |
| Equity | 10/15 | €254,234 | €250,402 | -€3,833 | -1.5% |
| Contributions | 10/11 | €146,083 | €146,083 | = | 0.0% |
| Reserves | 13 | €116,500 | €116,500 | = | 0.0% |
| Distributable reserves | 133 | €116,500 | €116,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,349 | -€12,182 | -€3,833 | -45.9% |
| Amounts payable | 17/49 | €1,066,189 | €1,070,406 | +€4,217 | +0.4% |
| Amounts payable after more than one year | 17 | €1,026,111 | €1,011,904 | -€14,208 | -1.4% |
| Financial debts | 170/4 | €1,026,111 | €1,011,904 | -€14,208 | -1.4% |
| Amounts payable within one year | 42/48 | €40,078 | €58,503 | +€18,425 | +46.0% |
| Current portion of amounts payable after more than one year | 42 | €14,029 | €14,208 | +€179 | +1.3% |
| Trade debts | 44 | - | €17,361 | +€17,361 | |
| Suppliers | 440/4 | - | €17,361 | +€17,361 | |
| Advances received on contracts in progress | 46 | - | €1,350 | +€1,350 | |
| Taxes, remuneration and social security | 45 | €3,218 | €7,712 | +€4,494 | +140% |
| Taxes | 450/3 | - | €3,198 | +€3,198 | |
| Remuneration and social security | 454/9 | €3,218 | €4,514 | +€1,296 | +40.3% |
| Other amounts payable | 47/48 | €22,831 | €17,873 | -€4,959 | -21.7% |
| Non-recurring operating income | 76A | - | €16,832 | +€16,832 | |
| Remuneration, social security and pensions | 62 | €33,203 | €35,112 | +€1,909 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,861 | €50,645 | +€7,784 | +18.2% |
| Other operating charges | 640/8 | €7,903 | €7,854 | -€49 | -0.6% |
| Non-recurring operating charges | 66A | - | €10,434 | +€10,434 | |
| Gross operating margin | 9900 | €70,467 | €114,091 | +€43,624 | +61.9% |
| Operating profit (loss) | 9901 | -€13,499 | €10,047 | +€23,546 | |
| Financial income | 75/76B | €9,173 | €4,253 | -€4,920 | -53.6% |
| Recurring financial income | 75 | €4,625 | €4,253 | -€372 | -8.0% |
| Non-recurring financial income | 76B | €4,548 | - | -€4,548 | |
| Financial charges | 65/66B | €3,535 | €4,131 | +€597 | +16.9% |
| Recurring financial charges | 65 | €3,535 | €4,131 | +€597 | +16.9% |
| Profit (loss) for the period before taxes | 9903 | -€7,860 | €10,168 | +€18,029 | |
| Income taxes | 67/77 | €543 | €14,001 | +€13,458 | +2,478% |
| Profit (loss) for the period | 9904 | -€8,403 | -€3,833 | +€4,571 | +54.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,403 | -€3,833 | +€4,571 | +54.4% |
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.