LM GESTION: 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.
LM GESTION
Largest movements
- Tangible fixed assets +€239,505
up €239,505 (+35.0%), from €683,893 to €923,398
of which Land and buildings: +€251,662
- Receivables within one year +€129,296
up €129,296 (+15.4%), from €841,836 to €971,133
of which Trade receivables: +€185,005
- Cash -€61,678
down €61,678 (-48.4%), from €127,495 to €65,817
mainly Investment in fixed assets (net) (-€293,122) and Other debts (-€134,727)
- Current investments +€49,508
up €49,508 (+13.5%), from €367,926 to €417,434
- Debts after one year +€226,336
up €226,336 (+223%), from €101,276 to €327,612
of which Financial debts: +€224,386
- Reserves +€213,636
up €213,636 (+28.4%), from €752,258 to €965,894
of which Distributable reserves: +€213,636
- Other debts -€134,727
no longer reported in 2025 (was €134,727)
- Tax, wage and social debts +€37,668
up €37,668 (+38.9%), from €96,789 to €134,457
of which Taxes: +€39,485
- Gross operating margin +€96,923
up €96,923 (+31.7%), from €305,980 to €402,903
- Taxes +€29,361
up €29,361 (+40.1%), from €73,130 to €102,491
- Financial income -€24,415
down €24,415 (-68.3%), from €35,772 to €11,357
of which Financial income: -€21,086
- Financial charges -€6,578
down €6,578 (-45.4%), from €14,479 to €7,901
of which Financial charges: -€6,458
- Other operating charges -€4,533
down €4,533 (-50.7%), from €8,937 to €4,404
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 | €2,024,956 | €2,385,373 | +€360,417 | +17.8% |
| Fixed assets | 21/28 | €684,278 | €923,783 | +€239,505 | +35.0% |
| Tangible fixed assets | 22/27 | €683,893 | €923,398 | +€239,505 | +35.0% |
| Land and buildings | 22 | €671,735 | €923,398 | +€251,662 | +37.5% |
| Furniture and vehicles | 24 | €12,157 | - | -€12,157 | |
| Financial fixed assets | 28 | €385 | €385 | = | 0.0% |
| Current assets | 29/58 | €1,340,678 | €1,461,591 | +€120,912 | +9.0% |
| Amounts receivable within one year | 40/41 | €841,836 | €971,133 | +€129,296 | +15.4% |
| Trade receivables | 40 | €367,122 | €552,128 | +€185,005 | +50.4% |
| Other amounts receivable | 41 | €474,714 | €419,005 | -€55,709 | -11.7% |
| Current investments | 50/53 | €367,926 | €417,434 | +€49,508 | +13.5% |
| Cash at bank and in hand | 54/58 | €127,495 | €65,817 | -€61,678 | -48.4% |
| Deferred charges and accrued income | 490/1 | €3,421 | €7,208 | +€3,787 | +111% |
| Total equity and liabilities | 10/49 | €2,024,956 | €2,385,373 | +€360,417 | +17.8% |
| Equity | 10/15 | €1,647,421 | €1,861,160 | +€213,739 | +13.0% |
| Contributions | 10/11 | €890,000 | €890,000 | = | 0.0% |
| Reserves | 13 | €752,258 | €965,894 | +€213,636 | +28.4% |
| Non-distributable reserves | 130/1 | €9,530 | €9,530 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,530 | €9,530 | = | 0.0% |
| Distributable reserves | 133 | €742,727 | €956,364 | +€213,636 | +28.8% |
| Profit (loss) carried forward | 14 | €5,163 | €5,266 | +€103 | +2.0% |
| Amounts payable | 17/49 | €377,535 | €524,214 | +€146,678 | +38.9% |
| Amounts payable after more than one year | 17 | €101,276 | €327,612 | +€226,336 | +223% |
| Financial debts | 170/4 | €101,276 | €325,662 | +€224,386 | +222% |
| Other amounts payable | 178/9 | - | €1,950 | +€1,950 | |
| Amounts payable within one year | 42/48 | €276,096 | €196,534 | -€79,561 | -28.8% |
| Current portion of amounts payable after more than one year | 42 | €31,227 | €44,742 | +€13,515 | +43.3% |
| Trade debts | 44 | €13,353 | €17,336 | +€3,983 | +29.8% |
| Suppliers | 440/4 | €13,353 | €17,336 | +€3,983 | +29.8% |
| Taxes, remuneration and social security | 45 | €96,789 | €134,457 | +€37,668 | +38.9% |
| Taxes | 450/3 | €92,654 | €132,139 | +€39,485 | +42.6% |
| Remuneration and social security | 454/9 | €4,134 | €2,318 | -€1,817 | -43.9% |
| Other amounts payable | 47/48 | €134,727 | - | -€134,727 | |
| Accrued charges and deferred income | 492/3 | €163 | €67 | -€96 | -58.9% |
| Remuneration, social security and pensions | 62 | €33,296 | €32,108 | -€1,188 | -3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,134 | €53,618 | +€4,484 | +9.1% |
| Other operating charges | 640/8 | €8,937 | €4,404 | -€4,533 | -50.7% |
| Gross operating margin | 9900 | €305,980 | €402,903 | +€96,923 | +31.7% |
| Operating profit (loss) | 9901 | €214,613 | €312,773 | +€98,161 | +45.7% |
| Financial income | 75/76B | €35,772 | €11,357 | -€24,415 | -68.3% |
| Recurring financial income | 75 | €32,054 | €10,968 | -€21,086 | -65.8% |
| Non-recurring financial income | 76B | €3,718 | €389 | -€3,329 | -89.5% |
| Financial charges | 65/66B | €14,479 | €7,901 | -€6,578 | -45.4% |
| Recurring financial charges | 65 | €13,486 | €7,028 | -€6,458 | -47.9% |
| Non-recurring financial charges | 66B | €993 | €872 | -€120 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €235,906 | €316,230 | +€80,324 | +34.0% |
| Income taxes | 67/77 | €73,130 | €102,491 | +€29,361 | +40.1% |
| Profit (loss) for the period | 9904 | €162,776 | €213,739 | +€50,963 | +31.3% |
| Profit (loss) for the period to be appropriated | 9905 | €162,776 | €213,739 | +€50,963 | +31.3% |
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 21 October 2026 via checked.be.