LMG: 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.
LMG
Largest movements
- Tangible fixed assets -€9,922
down €9,922 (-42.5%), from €23,321 to €13,399
of which Furniture and vehicles: -€9,644
- Cash +€905
up €905 (+47.6%), from €1,902 to €2,808
mainly Other debts (+€13,211) and Contributions, distributions and other (+€12,395)
- Deferred charges and accrued income -€362
down €362 (-54.8%), from €660 to €299
- Profit (loss) carried forward -€26,500
down €26,500 (-41.0%), from -€64,643 to -€91,143
- Other debts +€13,211
up €13,211 (+81.7%), from €16,175 to €29,386
- Contributions +€12,395
up €12,395 (+19.4%), from €64,032 to €76,427
- Trade debts -€6,422
down €6,422 (-89.8%), from €7,152 to €729
- Current portion of long-term debt -€1,285
down €1,285 (-52.9%), from €2,430 to €1,145
- Financial charges -€724
down €724 (-33.5%), from €2,160 to €1,436
- Gross operating margin +€645
up €645 (+4.1%), from -€15,704 to -€15,059
- Other operating charges -€180
down €180 (-50.0%), from €360 to €180
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 | €33,935 | €24,384 | -€9,551 | -28.1% |
| Fixed assets | 21/28 | €23,321 | €13,399 | -€9,922 | -42.5% |
| Tangible fixed assets | 22/27 | €23,321 | €13,399 | -€9,922 | -42.5% |
| Plant, machinery and equipment | 23 | €1,206 | €928 | -€278 | -23.0% |
| Furniture and vehicles | 24 | €22,115 | €12,471 | -€9,644 | -43.6% |
| Current assets | 29/58 | €10,614 | €10,985 | +€371 | +3.5% |
| Amounts receivable within one year | 40/41 | €8,052 | €7,879 | -€173 | -2.1% |
| Trade receivables | 40 | €7,006 | €7,053 | +€48 | +0.7% |
| Other amounts receivable | 41 | €1,046 | €825 | -€221 | -21.1% |
| Cash at bank and in hand | 54/58 | €1,902 | €2,808 | +€905 | +47.6% |
| Deferred charges and accrued income | 490/1 | €660 | €299 | -€362 | -54.8% |
| Total equity and liabilities | 10/49 | €33,935 | €24,384 | -€9,551 | -28.1% |
| Equity | 10/15 | €5,305 | -€8,801 | -€14,105 | |
| Contributions | 10/11 | €64,032 | €76,427 | +€12,395 | +19.4% |
| Outside capital | 11 | €64,032 | - | -€64,032 | |
| Other | 1109/19 | €64,032 | - | -€64,032 | |
| Reserves | 13 | €5,916 | €5,916 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,916 | - | -€5,916 | |
| Legal reserve | 130 | €5,916 | - | -€5,916 | |
| Distributable reserves | 133 | - | €5,916 | +€5,916 | |
| Profit (loss) carried forward | 14 | -€64,643 | -€91,143 | -€26,500 | -41.0% |
| Amounts payable | 17/49 | €28,630 | €33,185 | +€4,554 | +15.9% |
| Amounts payable after more than one year | 17 | €950 | - | -€950 | |
| Financial debts | 170/4 | €950 | - | -€950 | |
| Amounts payable within one year | 42/48 | €27,681 | €33,185 | +€5,504 | +19.9% |
| Current portion of amounts payable after more than one year | 42 | €2,430 | €1,145 | -€1,285 | -52.9% |
| Trade debts | 44 | €7,152 | €729 | -€6,422 | -89.8% |
| Suppliers | 440/4 | €7,152 | €729 | -€6,422 | -89.8% |
| Taxes, remuneration and social security | 45 | €1,924 | €1,924 | = | 0.0% |
| Taxes | 450/3 | €1,924 | €1,924 | = | 0.0% |
| Other amounts payable | 47/48 | €16,175 | €29,386 | +€13,211 | +81.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,908 | €9,922 | +€14 | +0.1% |
| Other operating charges | 640/8 | €360 | €180 | -€180 | -50.0% |
| Non-recurring operating charges | 66A | €3,550 | - | -€3,550 | |
| Gross operating margin | 9900 | -€15,704 | -€15,059 | +€645 | +4.1% |
| Operating profit (loss) | 9901 | -€29,522 | -€25,161 | +€4,361 | +14.8% |
| Financial income | 75/76B | - | €98 | +€98 | |
| Recurring financial income | 75 | - | €98 | +€98 | |
| Financial charges | 65/66B | €2,160 | €1,436 | -€724 | -33.5% |
| Recurring financial charges | 65 | €2,160 | €1,436 | -€724 | -33.5% |
| Profit (loss) for the period before taxes | 9903 | -€31,682 | -€26,500 | +€5,182 | +16.4% |
| Profit (loss) for the period | 9904 | -€31,682 | -€26,500 | +€5,182 | +16.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,682 | -€26,500 | +€5,182 | +16.4% |
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 29 September 2026 via checked.be.