LMA 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.
LMA Management
Largest movements
- Cash +€237,339
up €237,339 (+596%), from €39,819 to €277,158
mainly Net result for the year (+€145,615) and Current investments (+€96,755)
- Current investments -€96,755
down €96,755 (-21.5%), from €450,000 to €353,245
- Receivables within one year +€24,199
up €24,199 (+104%), from €23,317 to €47,516
- Profit (loss) carried forward +€145,615
up €145,615 (+35.5%), from €409,943 to €555,558
- Tax, wage and social debts +€29,880
up €29,880 (+26.8%), from €111,539 to €141,420
of which Taxes: +€39,880
- Gross operating margin -€138,362
down €138,362 (-40.5%), from €341,713 to €203,351
- Taxes -€34,685
down €34,685 (-41.9%), from €82,707 to €48,022
- Financial income +€4,553
up €4,553 (+173%), from €2,630 to €7,184
- Depreciation +€3,596
up €3,596 (+41.1%), from €8,756 to €12,352
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 | €553,424 | €723,526 | +€170,102 | +30.7% |
| Fixed assets | 21/28 | €37,909 | €42,736 | +€4,827 | +12.7% |
| Tangible fixed assets | 22/27 | €37,909 | €42,736 | +€4,827 | +12.7% |
| Plant, machinery and equipment | 23 | €24,925 | €36,052 | +€11,127 | +44.6% |
| Furniture and vehicles | 24 | €12,984 | €6,685 | -€6,299 | -48.5% |
| Current assets | 29/58 | €515,515 | €680,790 | +€165,274 | +32.1% |
| Amounts receivable within one year | 40/41 | €23,317 | €47,516 | +€24,199 | +104% |
| Trade receivables | 40 | €23,317 | €47,516 | +€24,199 | +104% |
| Current investments | 50/53 | €450,000 | €353,245 | -€96,755 | -21.5% |
| Cash at bank and in hand | 54/58 | €39,819 | €277,158 | +€237,339 | +596% |
| Deferred charges and accrued income | 490/1 | €2,379 | €2,871 | +€491 | +20.6% |
| Total equity and liabilities | 10/49 | €553,424 | €723,526 | +€170,102 | +30.7% |
| Equity | 10/15 | €410,043 | €555,658 | +€145,615 | +35.5% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €409,943 | €555,558 | +€145,615 | +35.5% |
| Amounts payable | 17/49 | €143,382 | €167,868 | +€24,486 | +17.1% |
| Amounts payable within one year | 42/48 | €143,382 | €164,848 | +€21,466 | +15.0% |
| Trade debts | 44 | €5,951 | €1,303 | -€4,648 | -78.1% |
| Suppliers | 440/4 | €5,951 | €1,303 | -€4,648 | -78.1% |
| Taxes, remuneration and social security | 45 | €111,539 | €141,420 | +€29,880 | +26.8% |
| Taxes | 450/3 | €101,539 | €141,420 | +€39,880 | +39.3% |
| Remuneration and social security | 454/9 | €10,000 | - | -€10,000 | |
| Other amounts payable | 47/48 | €25,892 | €22,126 | -€3,766 | -14.5% |
| Accrued charges and deferred income | 492/3 | - | €3,020 | +€3,020 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,756 | €12,352 | +€3,596 | +41.1% |
| Other operating charges | 640/8 | €2,121 | €2,779 | +€658 | +31.0% |
| Gross operating margin | 9900 | €341,713 | €203,351 | -€138,362 | -40.5% |
| Operating profit (loss) | 9901 | €330,836 | €188,221 | -€142,615 | -43.1% |
| Financial income | 75/76B | €2,630 | €7,184 | +€4,553 | +173% |
| Recurring financial income | 75 | €2,630 | €7,184 | +€4,553 | +173% |
| Financial charges | 65/66B | €95 | €1,767 | +€1,673 | +1,766% |
| Recurring financial charges | 65 | €95 | €1,767 | +€1,673 | +1,766% |
| Profit (loss) for the period before taxes | 9903 | €333,372 | €193,637 | -€139,735 | -41.9% |
| Income taxes | 67/77 | €82,707 | €48,022 | -€34,685 | -41.9% |
| Profit (loss) for the period | 9904 | €250,665 | €145,615 | -€105,050 | -41.9% |
| Profit (loss) for the period to be appropriated | 9905 | €250,665 | €145,615 | -€105,050 | -41.9% |
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 14 October 2026 via checked.be.