LMCM: 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.
LMCM
Largest movements
- Cash -€40,356
down €40,356 (-65.3%), from €61,838 to €21,482
mainly Receivables after one year (-€24,273) and Receivables within one year (-€12,832)
- Receivables after one year +€24,273
new in 2025: €24,273
- Receivables within one year +€12,832
up €12,832 (+56.2%), from €22,824 to €35,657
of which Trade receivables: +€17,679
- Tangible fixed assets -€1,540
down €1,540 (-25.4%), from €6,062 to €4,522
of which Plant, machinery and equipment: -€1,190
- Tax, wage and social debts -€4,349
down €4,349 (-27.4%), from €15,863 to €11,514
- Trade debts -€2,933
no longer reported in 2025 (was €2,933)
- Reserves +€2,493
up €2,493 (+5.7%), from €43,985 to €46,477
- Gross operating margin -€29,705
down €29,705 (-77.8%), from €38,175 to €8,470
- Taxes -€4,612
down €4,612 (-53.1%), from €8,679 to €4,067
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 | €90,725 | €85,934 | -€4,790 | -5.3% |
| Fixed assets | 21/28 | €6,062 | €4,522 | -€1,540 | -25.4% |
| Tangible fixed assets | 22/27 | €6,062 | €4,522 | -€1,540 | -25.4% |
| Plant, machinery and equipment | 23 | €4,655 | €3,465 | -€1,190 | -25.6% |
| Furniture and vehicles | 24 | €1,407 | €1,057 | -€350 | -24.9% |
| Current assets | 29/58 | €84,662 | €81,412 | -€3,250 | -3.8% |
| Amounts receivable after more than one year | 29 | - | €24,273 | +€24,273 | |
| Trade receivables | 290 | - | €24,273 | +€24,273 | |
| Amounts receivable within one year | 40/41 | €22,824 | €35,657 | +€12,832 | +56.2% |
| Trade receivables | 40 | €15,675 | €33,354 | +€17,679 | +112.8% |
| Other amounts receivable | 41 | €7,149 | €2,303 | -€4,846 | -67.8% |
| Cash at bank and in hand | 54/58 | €61,838 | €21,482 | -€40,356 | -65.3% |
| Total equity and liabilities | 10/49 | €90,725 | €85,934 | -€4,790 | -5.3% |
| Equity | 10/15 | €71,928 | €74,421 | +€2,493 | +3.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €43,985 | €46,477 | +€2,493 | +5.7% |
| Distributable reserves | 133 | €43,985 | €46,477 | +€2,493 | +5.7% |
| Profit (loss) carried forward | 14 | €26,944 | €26,944 | = | 0.0% |
| Amounts payable | 17/49 | €18,796 | €11,514 | -€7,283 | -38.7% |
| Amounts payable within one year | 42/48 | €18,796 | €11,514 | -€7,283 | -38.7% |
| Trade debts | 44 | €2,933 | - | -€2,933 | |
| Suppliers | 440/4 | €2,933 | - | -€2,933 | |
| Taxes, remuneration and social security | 45 | €15,863 | €11,514 | -€4,349 | -27.4% |
| Taxes | 450/3 | €15,863 | €11,514 | -€4,349 | -27.4% |
| Non-recurring operating income | 76A | €173 | - | -€173 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,540 | €1,540 | +€0 | 0.0% |
| Other operating charges | 640/8 | €927 | €572 | -€354 | -38.2% |
| Gross operating margin | 9900 | €38,175 | €8,470 | -€29,705 | -77.8% |
| Operating profit (loss) | 9901 | €35,709 | €6,358 | -€29,351 | -82.2% |
| Financial income | 75/76B | €282 | €455 | +€173 | +61.5% |
| Recurring financial income | 75 | €282 | €455 | +€173 | +61.5% |
| Financial charges | 65/66B | €368 | €253 | -€114 | -31.1% |
| Recurring financial charges | 65 | €368 | €253 | -€114 | -31.1% |
| Profit (loss) for the period before taxes | 9903 | €35,622 | €6,559 | -€29,063 | -81.6% |
| Income taxes | 67/77 | €8,679 | €4,067 | -€4,612 | -53.1% |
| Profit (loss) for the period | 9904 | €26,944 | €2,493 | -€24,451 | -90.7% |
| Profit (loss) for the period to be appropriated | 9905 | €26,944 | €2,493 | -€24,451 | -90.7% |
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 6 October 2026 via checked.be.