LLMA: what changed
Two fiscal 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.
LLMA
Largest movements
- Receivables within one year +€4,522
up €4,522 (+15.2%), from €29,690 to €34,211
of which Trade receivables: +€6,612
- Cash -€4,091
down €4,091 (-60.2%), from €6,799 to €2,708
mainly Receivables within one year (-€4,522) and Investment in fixed assets (net) (-€3,263)
- Other debts +€4,069
up €4,069 (+508.6%), from €800 to €4,869
- Tax, wage and social debts -€3,135
down €3,135 (-32.6%), from €9,620 to €6,485
of which Remuneration and social security: -€2,500
- Trade debts -€569
no longer reported in 2025 (was €569)
- Profit (loss) carried forward -€497
down €497 (-1.5%), from €33,158 to €32,661
- Gross operating margin -€24,967
down €24,967 (-85.0%), from €29,362 to €4,395
- Taxes -€6,160
down €6,160 (-92.3%), from €6,677 to €517
- Depreciation +€1,399
up €1,399 (+73.1%), from €1,913 to €3,313
- Financial charges +€537
up €537 (+284.9%), from €189 to €726
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.
Cash bridge derived
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 | €45,647 | €45,582 | -€66 | -0.1% |
| Fixed assets | 21/28 | €6,397 | €6,348 | -€49 | -0.8% |
| Tangible fixed assets | 22/27 | €6,397 | €6,348 | -€49 | -0.8% |
| Furniture and vehicles | 24 | €6,397 | €5,213 | -€1,184 | -18.5% |
| Other tangible fixed assets | 26 | - | €1,135 | +€1,135 | |
| Current assets | 29/58 | €39,250 | €39,234 | -€17 | 0.0% |
| Amounts receivable within one year | 40/41 | €29,690 | €34,211 | +€4,522 | +15.2% |
| Trade receivables | 40 | €27,441 | €34,053 | +€6,612 | +24.1% |
| Other amounts receivable | 41 | €2,248 | €158 | -€2,090 | -93.0% |
| Cash at bank and in hand | 54/58 | €6,799 | €2,708 | -€4,091 | -60.2% |
| Deferred charges and accrued income | 490/1 | €2,761 | €2,314 | -€447 | -16.2% |
| Total equity and liabilities | 10/49 | €45,647 | €45,582 | -€66 | -0.1% |
| Equity | 10/15 | €34,658 | €34,161 | -€497 | -1.4% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,158 | €32,661 | -€497 | -1.5% |
| Amounts payable | 17/49 | €10,990 | €11,421 | +€431 | +3.9% |
| Amounts payable within one year | 42/48 | €10,990 | €11,354 | +€364 | +3.3% |
| Trade debts | 44 | €569 | - | -€569 | |
| Suppliers | 440/4 | €569 | - | -€569 | |
| Taxes, remuneration and social security | 45 | €9,620 | €6,485 | -€3,135 | -32.6% |
| Taxes | 450/3 | €7,120 | €6,485 | -€635 | -8.9% |
| Remuneration and social security | 454/9 | €2,500 | - | -€2,500 | |
| Other amounts payable | 47/48 | €800 | €4,869 | +€4,069 | +508.6% |
| Accrued charges and deferred income | 492/3 | - | €67 | +€67 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,913 | €3,313 | +€1,399 | +73.1% |
| Other operating charges | 640/8 | €126 | €338 | +€212 | +167.6% |
| Non-recurring operating charges | 66A | €766 | - | -€766 | |
| Gross operating margin | 9900 | €29,362 | €4,395 | -€24,967 | -85.0% |
| Operating profit (loss) | 9901 | €26,556 | €745 | -€25,811 | -97.2% |
| Financial income | 75/76B | €192 | €1 | -€191 | -99.5% |
| Recurring financial income | 75 | €192 | €1 | -€191 | -99.5% |
| Financial charges | 65/66B | €189 | €726 | +€537 | +284.9% |
| Recurring financial charges | 65 | €189 | €726 | +€537 | +284.9% |
| Profit (loss) for the period before taxes | 9903 | €26,559 | €20 | -€26,539 | -99.9% |
| Income taxes | 67/77 | €6,677 | €517 | -€6,160 | -92.3% |
| Profit (loss) for the period | 9904 | €19,882 | -€497 | -€20,379 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,882 | -€497 | -€20,379 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.