LM 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.
LM Management
Largest movements
- Deferred charges and accrued income +€37,858
up €37,858 (+841%), from €4,500 to €42,358
- Cash -€16,514
down €16,514 (-14.3%), from €115,316 to €98,802
mainly Deferred charges and accrued income (-€37,858) and Investment in fixed assets (net) (-€1,609)
- Tangible fixed assets -€5,852
down €5,852 (-22.3%), from €26,232 to €20,381
of which Plant, machinery and equipment: -€4,980
- Other debts +€8,963
new in 2025: €8,963
- Tax, wage and social debts +€3,421
up €3,421 (+226%), from €1,516 to €4,937
- Profit (loss) carried forward +€2,913
up €2,913 (+1.9%), from €152,789 to €155,702
- Trade debts +€2,192
up €2,192 (+196%), from €1,116 to €3,308
- Gross operating margin +€9,649
up €9,649 (+207%), from €4,658 to €14,307
- Other operating charges +€2,121
up €2,121 (+168%), from €1,264 to €3,385
- Financial charges +€476
up €476 (+603%), from €79 to €555
- Depreciation -€211
down €211 (-2.8%), from €7,672 to €7,461
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 | €163,478 | €180,966 | +€17,489 | +10.7% |
| Fixed assets | 21/28 | €26,232 | €20,381 | -€5,852 | -22.3% |
| Tangible fixed assets | 22/27 | €26,232 | €20,381 | -€5,852 | -22.3% |
| Plant, machinery and equipment | 23 | €23,010 | €18,030 | -€4,980 | -21.6% |
| Furniture and vehicles | 24 | €3,222 | €2,351 | -€871 | -27.0% |
| Current assets | 29/58 | €137,245 | €160,586 | +€23,340 | +17.0% |
| Stocks and contracts in progress | 3 | - | €1,410 | +€1,410 | |
| Stocks | 30/36 | - | €1,410 | +€1,410 | |
| Amounts receivable within one year | 40/41 | €17,429 | €18,016 | +€586 | +3.4% |
| Trade receivables | 40 | €14,364 | €17,725 | +€3,361 | +23.4% |
| Other amounts receivable | 41 | €3,065 | €290 | -€2,775 | -90.5% |
| Cash at bank and in hand | 54/58 | €115,316 | €98,802 | -€16,514 | -14.3% |
| Deferred charges and accrued income | 490/1 | €4,500 | €42,358 | +€37,858 | +841% |
| Total equity and liabilities | 10/49 | €163,478 | €180,966 | +€17,489 | +10.7% |
| Equity | 10/15 | €160,845 | €163,758 | +€2,913 | +1.8% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €152,789 | €155,702 | +€2,913 | +1.9% |
| Amounts payable | 17/49 | €2,632 | €17,208 | +€14,576 | +554% |
| Amounts payable within one year | 42/48 | €2,632 | €17,208 | +€14,576 | +554% |
| Trade debts | 44 | €1,116 | €3,308 | +€2,192 | +196% |
| Suppliers | 440/4 | €1,116 | €3,308 | +€2,192 | +196% |
| Taxes, remuneration and social security | 45 | €1,516 | €4,937 | +€3,421 | +226% |
| Taxes | 450/3 | €1,516 | €4,937 | +€3,421 | +226% |
| Other amounts payable | 47/48 | - | €8,963 | +€8,963 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,672 | €7,461 | -€211 | -2.8% |
| Other operating charges | 640/8 | €1,264 | €3,385 | +€2,121 | +168% |
| Non-recurring operating charges | 66A | - | €354 | +€354 | |
| Gross operating margin | 9900 | €4,658 | €14,307 | +€9,649 | +207% |
| Operating profit (loss) | 9901 | -€4,278 | €3,108 | +€7,385 | |
| Financial income | 75/76B | €430 | €542 | +€112 | +26.0% |
| Recurring financial income | 75 | €430 | €542 | +€112 | +26.0% |
| Financial charges | 65/66B | €79 | €555 | +€476 | +603% |
| Recurring financial charges | 65 | €79 | €555 | +€476 | +603% |
| Profit (loss) for the period before taxes | 9903 | -€3,927 | €3,094 | +€7,021 | |
| Income taxes | 67/77 | €188 | €181 | -€7 | -3.5% |
| Profit (loss) for the period | 9904 | -€4,114 | €2,913 | +€7,027 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,114 | €2,913 | +€7,027 |
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.