LJM 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.
LJM CONCEPT
Largest movements
- Cash -€115,181
down €115,181 (-63.7%), from €180,931 to €65,750
mainly Current investments (-€100,000) and Other debts (-€26,371)
- Current investments +€100,000
new in 2025: €100,000
- Receivables within one year +€8,920
up €8,920 (+276%), from €3,227 to €12,147
of which Trade receivables: +€6,050
- Other debts -€26,371
down €26,371 (-51.2%), from €51,493 to €25,122
- Profit (loss) carried forward +€17,039
up €17,039 (+777%), from €2,193 to €19,231
- Tax, wage and social debts -€8,662
down €8,662 (-90.4%), from €9,577 to €915
of which Taxes: -€8,932
- Reserves +€7,500
up €7,500 (+10.5%), from €71,748 to €79,248
of which Distributable reserves: +€7,500
- Gross operating margin -€68,481
down €68,481 (-64.5%), from €106,111 to €37,630
- Taxes -€23,181
down €23,181 (-69.6%), from €33,286 to €10,105
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 | €189,604 | €181,676 | -€7,928 | -4.2% |
| Fixed assets | 21/28 | €2,647 | €2,510 | -€137 | -5.2% |
| Tangible fixed assets | 22/27 | €2,559 | €2,422 | -€137 | -5.4% |
| Furniture and vehicles | 24 | €2,559 | €2,422 | -€137 | -5.4% |
| Financial fixed assets | 28 | €88 | €88 | = | 0.0% |
| Current assets | 29/58 | €186,957 | €179,167 | -€7,791 | -4.2% |
| Stocks and contracts in progress | 3 | €1,641 | €0 | -€1,641 | -100% |
| Stocks | 30/36 | €1,641 | €0 | -€1,641 | -100% |
| Amounts receivable within one year | 40/41 | €3,227 | €12,147 | +€8,920 | +276% |
| Trade receivables | 40 | €0 | €6,050 | +€6,050 | |
| Other amounts receivable | 41 | €3,227 | €6,097 | +€2,870 | +88.9% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €180,931 | €65,750 | -€115,181 | -63.7% |
| Deferred charges and accrued income | 490/1 | €1,158 | €1,269 | +€111 | +9.6% |
| Total equity and liabilities | 10/49 | €189,604 | €181,676 | -€7,928 | -4.2% |
| Equity | 10/15 | €92,541 | €117,079 | +€24,539 | +26.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €71,748 | €79,248 | +€7,500 | +10.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €69,888 | €77,388 | +€7,500 | +10.7% |
| Profit (loss) carried forward | 14 | €2,193 | €19,231 | +€17,039 | +777% |
| Amounts payable | 17/49 | €97,064 | €64,597 | -€32,467 | -33.4% |
| Amounts payable after more than one year | 17 | €32,400 | €32,400 | = | 0.0% |
| Financial debts | 170/4 | €32,400 | €32,400 | = | 0.0% |
| Amounts payable within one year | 42/48 | €62,072 | €28,309 | -€33,763 | -54.4% |
| Trade debts | 44 | €1,001 | €2,272 | +€1,271 | +127% |
| Suppliers | 440/4 | €1,001 | €2,272 | +€1,271 | +127% |
| Taxes, remuneration and social security | 45 | €9,577 | €915 | -€8,662 | -90.4% |
| Taxes | 450/3 | €9,577 | €645 | -€8,932 | -93.3% |
| Remuneration and social security | 454/9 | - | €270 | +€270 | |
| Other amounts payable | 47/48 | €51,493 | €25,122 | -€26,371 | -51.2% |
| Accrued charges and deferred income | 492/3 | €2,592 | €3,888 | +€1,296 | +50.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,029 | €1,269 | +€240 | +23.3% |
| Other operating charges | 640/8 | €911 | €890 | -€22 | -2.4% |
| Gross operating margin | 9900 | €106,111 | €37,630 | -€68,481 | -64.5% |
| Operating profit (loss) | 9901 | €104,171 | €35,471 | -€68,700 | -65.9% |
| Financial income | 75/76B | €548 | €674 | +€127 | +23.1% |
| Recurring financial income | 75 | €548 | €674 | +€127 | +23.1% |
| Financial charges | 65/66B | €1,544 | €1,502 | -€42 | -2.7% |
| Recurring financial charges | 65 | €1,544 | €1,502 | -€42 | -2.7% |
| Profit (loss) for the period before taxes | 9903 | €103,175 | €34,644 | -€68,531 | -66.4% |
| Income taxes | 67/77 | €33,286 | €10,105 | -€23,181 | -69.6% |
| Profit (loss) for the period | 9904 | €69,890 | €24,539 | -€45,351 | -64.9% |
| Profit (loss) for the period to be appropriated | 9905 | €69,890 | €24,539 | -€45,351 | -64.9% |
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 17 October 2026 via checked.be.