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 -€33,131
down €33,131 (-14.4%), from €230,169 to €197,037
of which Other tangible fixed assets: -€17,484
- Cash +€19,281
up €19,281 (+111.2%), from €17,333 to €36,614
mainly Net result for the year (+€43,831) and Depreciation (+€34,632)
- Receivables within one year +€11,480
up €11,480 (+32.8%), from €34,973 to €46,453
of which Trade receivables: +€11,040
- Deferred charges and accrued income +€3,386
up €3,386 (+132.9%), from €2,547 to €5,933
- Profit (loss) carried forward +€43,831
up €43,831 (+44.9%), from -€97,593 to -€53,762
- Other debts -€17,784
down €17,784 (-5.6%), from €316,565 to €298,781
- Debts after one year -€12,389
down €12,389 (-79.7%), from €15,551 to €3,162
- Trade debts -€9,192
down €9,192 (-44.5%), from €20,646 to €11,454
- Accrued charges and deferred income -€5,010
down €5,010 (-83.4%), from €6,010 to €1,000
- Gross operating margin +€12,333
up €12,333 (+13.5%), from €91,375 to €103,707
- Taxes +€7,382
up €7,382 (+920.0%), from €802 to €8,184
- Other operating charges +€1,689
up €1,689 (+34.1%), from €4,956 to €6,645
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 | €285,022 | €286,038 | +€1,015 | +0.4% |
| Fixed assets | 21/28 | €230,169 | €197,037 | -€33,131 | -14.4% |
| Tangible fixed assets | 22/27 | €230,169 | €197,037 | -€33,131 | -14.4% |
| Land and buildings | 22 | €70,524 | €58,604 | -€11,920 | -16.9% |
| Plant, machinery and equipment | 23 | €19 | €0 | -€19 | -100.0% |
| Furniture and vehicles | 24 | €18,339 | €14,630 | -€3,709 | -20.2% |
| Other tangible fixed assets | 26 | €141,287 | €123,803 | -€17,484 | -12.4% |
| Current assets | 29/58 | €54,854 | €89,000 | +€34,147 | +62.3% |
| Amounts receivable within one year | 40/41 | €34,973 | €46,453 | +€11,480 | +32.8% |
| Trade receivables | 40 | €26,960 | €38,000 | +€11,040 | +41.0% |
| Other amounts receivable | 41 | €8,014 | €8,453 | +€440 | +5.5% |
| Cash at bank and in hand | 54/58 | €17,333 | €36,614 | +€19,281 | +111.2% |
| Deferred charges and accrued income | 490/1 | €2,547 | €5,933 | +€3,386 | +132.9% |
| Total equity and liabilities | 10/49 | €285,022 | €286,038 | +€1,015 | +0.4% |
| Equity | 10/15 | -€91,393 | -€47,562 | +€43,831 | +48.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€97,593 | -€53,762 | +€43,831 | +44.9% |
| Amounts payable | 17/49 | €376,415 | €333,599 | -€42,816 | -11.4% |
| Amounts payable after more than one year | 17 | €15,551 | €3,162 | -€12,389 | -79.7% |
| Financial debts | 170/4 | €15,551 | €3,162 | -€12,389 | -79.7% |
| Amounts payable within one year | 42/48 | €354,854 | €329,437 | -€25,417 | -7.2% |
| Current portion of amounts payable after more than one year | 42 | €11,983 | €12,389 | +€405 | +3.4% |
| Financial debts | 43 | €3,916 | €5,576 | +€1,660 | +42.4% |
| Credit institutions | 430/8 | €3,916 | €5,576 | +€1,660 | +42.4% |
| Trade debts | 44 | €20,646 | €11,454 | -€9,192 | -44.5% |
| Suppliers | 440/4 | €20,646 | €11,454 | -€9,192 | -44.5% |
| Taxes, remuneration and social security | 45 | €1,743 | €1,237 | -€506 | -29.1% |
| Taxes | 450/3 | €1,743 | €1,237 | -€506 | -29.1% |
| Other amounts payable | 47/48 | €316,565 | €298,781 | -€17,784 | -5.6% |
| Accrued charges and deferred income | 492/3 | €6,010 | €1,000 | -€5,010 | -83.4% |
| Non-recurring operating income | 76A | - | €2,740 | +€2,740 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,288 | €34,632 | -€657 | -1.9% |
| Other operating charges | 640/8 | €4,956 | €6,645 | +€1,689 | +34.1% |
| Gross operating margin | 9900 | €91,375 | €103,707 | +€12,333 | +13.5% |
| Operating profit (loss) | 9901 | €51,131 | €62,431 | +€11,300 | +22.1% |
| Financial income | 75/76B | €2 | €2 | -€0 | -9.5% |
| Recurring financial income | 75 | €2 | €2 | -€0 | -9.5% |
| Financial charges | 65/66B | €10,218 | €10,418 | +€200 | +2.0% |
| Recurring financial charges | 65 | €10,218 | €10,418 | +€200 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | €40,915 | €52,015 | +€11,100 | +27.1% |
| Income taxes | 67/77 | €802 | €8,184 | +€7,382 | +920.0% |
| Profit (loss) for the period | 9904 | €40,113 | €43,831 | +€3,718 | +9.3% |
| Profit (loss) for the period to be appropriated | 9905 | €40,113 | €43,831 | +€3,718 | +9.3% |
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 5 October 2026 via checked.be.