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 -€10,369
down €10,369 (-74.1%), from €13,996 to €3,627
mainly Other debts (-€85,057) and Tax, wage and social debts (-€197)
- Other debts -€85,057
down €85,057 (-46.7%), from €182,296 to €97,239
- Current portion of long-term debt +€50,000
new in 2025: €50,000
- Reserves +€16,316
up €16,316 (+62.9%), from €25,922 to €42,238
- Gross operating margin +€8,970
up €8,970 (+23.8%), from €37,644 to €46,613
- Taxes +€4,045
up €4,045 (+89.3%), from €4,531 to €8,576
- Financial charges -€2,731
down €2,731 (-11.4%), from €23,879 to €21,147
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 | €730,796 | €720,427 | -€10,369 | -1.4% |
| Fixed assets | 21/28 | €716,800 | €716,800 | = | 0.0% |
| Financial fixed assets | 28 | €716,800 | €716,800 | = | 0.0% |
| Current assets | 29/58 | €13,996 | €3,627 | -€10,369 | -74.1% |
| Cash at bank and in hand | 54/58 | €13,996 | €3,627 | -€10,369 | -74.1% |
| Total equity and liabilities | 10/49 | €730,796 | €720,427 | -€10,369 | -1.4% |
| Equity | 10/15 | €225,922 | €242,238 | +€16,316 | +7.2% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €25,922 | €42,238 | +€16,316 | +62.9% |
| Distributable reserves | 133 | €25,922 | €42,238 | +€16,316 | +62.9% |
| Amounts payable | 17/49 | €504,874 | €478,188 | -€26,685 | -5.3% |
| Amounts payable after more than one year | 17 | €271,800 | €271,800 | = | 0.0% |
| Financial debts | 170/4 | €271,800 | €271,800 | = | 0.0% |
| Amounts payable within one year | 42/48 | €202,946 | €174,647 | -€28,300 | -13.9% |
| Current portion of amounts payable after more than one year | 42 | - | €50,000 | +€50,000 | |
| Trade debts | 44 | €927 | €7,881 | +€6,954 | +750% |
| Suppliers | 440/4 | €927 | €7,881 | +€6,954 | +750% |
| Taxes, remuneration and social security | 45 | €19,723 | €19,527 | -€197 | -1.0% |
| Taxes | 450/3 | €19,723 | €19,527 | -€197 | -1.0% |
| Other amounts payable | 47/48 | €182,296 | €97,239 | -€85,057 | -46.7% |
| Accrued charges and deferred income | 492/3 | €30,127 | €31,742 | +€1,614 | +5.4% |
| Other operating charges | 640/8 | €327 | €580 | +€253 | +77.2% |
| Gross operating margin | 9900 | €37,644 | €46,613 | +€8,970 | +23.8% |
| Operating profit (loss) | 9901 | €37,317 | €46,034 | +€8,717 | +23.4% |
| Financial income | 75/76B | €21 | €6 | -€16 | -73.8% |
| Recurring financial income | 75 | €21 | €6 | -€16 | -73.8% |
| Financial charges | 65/66B | €23,879 | €21,147 | -€2,731 | -11.4% |
| Recurring financial charges | 65 | €23,879 | €21,147 | -€2,731 | -11.4% |
| Profit (loss) for the period before taxes | 9903 | €13,459 | €24,892 | +€11,433 | +84.9% |
| Income taxes | 67/77 | €4,531 | €8,576 | +€4,045 | +89.3% |
| Profit (loss) for the period | 9904 | €8,928 | €16,316 | +€7,388 | +82.8% |
| Profit (loss) for the period to be appropriated | 9905 | €8,928 | €16,316 | +€7,388 | +82.8% |
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.