LKDM: 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.
LKDM
Largest movements
- Cash +€57,272
up €57,272 (+59.5%), from €96,179 to €153,451
mainly Net result for the year (+€55,648) and Depreciation (+€20,336)
- Receivables within one year -€5,769
down €5,769 (-47.2%), from €12,221 to €6,453
of which Trade receivables: -€4,195
- Profit (loss) carried forward +€33,815
up €33,815 (+116%), from €29,072 to €62,887
- Reserves +€21,000
up €21,000 (+100%), from €21,000 to €42,000
- Tax, wage and social debts -€5,719
down €5,719 (-43.6%), from €13,116 to €7,397
of which Taxes: -€6,353
- Trade debts -€3,736
down €3,736 (-61.5%), from €6,076 to €2,340
- Gross operating margin +€43,048
up €43,048 (+75.7%), from €56,893 to €99,941
- Taxes +€5,643
up €5,643 (+38.6%), from €14,612 to €20,256
- Depreciation +€1,965
up €1,965 (+10.7%), from €18,371 to €20,336
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 | €324,686 | €372,550 | +€47,864 | +14.7% |
| Fixed assets | 21/28 | €213,879 | €211,041 | -€2,838 | -1.3% |
| Tangible fixed assets | 22/27 | €213,879 | €211,041 | -€2,838 | -1.3% |
| Land and buildings | 22 | €189,970 | €181,904 | -€8,066 | -4.2% |
| Plant, machinery and equipment | 23 | €1,096 | €890 | -€205 | -18.7% |
| Furniture and vehicles | 24 | €18,810 | €14,382 | -€4,427 | -23.5% |
| Other tangible fixed assets | 26 | €4,004 | €11,188 | +€7,184 | +179% |
| Assets under construction and advance payments | 27 | - | €2,677 | +€2,677 | |
| Current assets | 29/58 | €110,807 | €161,509 | +€50,702 | +45.8% |
| Amounts receivable within one year | 40/41 | €12,221 | €6,453 | -€5,769 | -47.2% |
| Trade receivables | 40 | €10,647 | €6,453 | -€4,195 | -39.4% |
| Other amounts receivable | 41 | €1,574 | €0 | -€1,574 | -100% |
| Cash at bank and in hand | 54/58 | €96,179 | €153,451 | +€57,272 | +59.5% |
| Deferred charges and accrued income | 490/1 | €2,406 | €1,605 | -€801 | -33.3% |
| Total equity and liabilities | 10/49 | €324,686 | €372,550 | +€47,864 | +14.7% |
| Equity | 10/15 | €300,072 | €354,887 | +€54,815 | +18.3% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €21,000 | €42,000 | +€21,000 | +100% |
| Distributable reserves | 133 | €21,000 | €42,000 | +€21,000 | +100% |
| Profit (loss) carried forward | 14 | €29,072 | €62,887 | +€33,815 | +116% |
| Amounts payable | 17/49 | €24,614 | €17,663 | -€6,951 | -28.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €24,614 | €17,529 | -€7,085 | -28.8% |
| Current portion of amounts payable after more than one year | 42 | €1,153 | €0 | -€1,153 | -100% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €6,076 | €2,340 | -€3,736 | -61.5% |
| Suppliers | 440/4 | €6,076 | €2,340 | -€3,736 | -61.5% |
| Taxes, remuneration and social security | 45 | €13,116 | €7,397 | -€5,719 | -43.6% |
| Taxes | 450/3 | €13,116 | €6,764 | -€6,353 | -48.4% |
| Remuneration and social security | 454/9 | - | €633 | +€633 | |
| Other amounts payable | 47/48 | €4,269 | €7,792 | +€3,523 | +82.5% |
| Accrued charges and deferred income | 492/3 | - | €134 | +€134 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,371 | €20,336 | +€1,965 | +10.7% |
| Other operating charges | 640/8 | €2,238 | €2,662 | +€424 | +19.0% |
| Non-recurring operating charges | 66A | - | €884 | +€884 | |
| Gross operating margin | 9900 | €56,893 | €99,941 | +€43,048 | +75.7% |
| Operating profit (loss) | 9901 | €36,285 | €76,058 | +€39,773 | +110% |
| Financial income | 75/76B | €328 | €395 | +€66 | +20.2% |
| Recurring financial income | 75 | €328 | €395 | +€66 | +20.2% |
| Financial charges | 65/66B | €415 | €549 | +€135 | +32.5% |
| Recurring financial charges | 65 | €415 | €549 | +€135 | +32.5% |
| Profit (loss) for the period before taxes | 9903 | €36,198 | €75,904 | +€39,705 | +110% |
| Income taxes | 67/77 | €14,612 | €20,256 | +€5,643 | +38.6% |
| Profit (loss) for the period | 9904 | €21,586 | €55,648 | +€34,062 | +158% |
| Profit (loss) for the period to be appropriated | 9905 | €21,586 | €55,648 | +€34,062 | +158% |
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 14 October 2026 via checked.be.