LMG CONCEPT: 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 CONCEPT
Largest movements
- Cash +€138,842
up €138,842 (+80.6%), from €172,301 to €311,142
mainly Advances received (+€117,284) and Other debts (+€52,321)
- Receivables within one year -€23,460
down €23,460 (-6.6%), from €355,829 to €332,368
of which Other amounts receivable: -€26,220
- Current investments +€18,571
up €18,571 (+17.9%), from €103,911 to €122,482
- Tangible fixed assets -€11,693
down €11,693 (-4.8%), from €241,960 to €230,267
of which Land and buildings: -€8,848
- Advances received +€117,284
up €117,284 (+34.5%), from €340,239 to €457,523
- Reserves -€58,120
down €58,120 (-33.5%), from €173,328 to €115,207
- Other debts +€52,321
up €52,321 (+86.7%), from €60,337 to €112,658
- Debts after one year -€17,565
down €17,565 (-9.2%), from €191,295 to €173,730
- Tax, wage and social debts +€14,855
up €14,855 (+42.8%), from €34,710 to €49,565
of which Taxes: +€17,923
- Staff costs +€14,899
up €14,899 (+9.9%), from €151,135 to €166,035
- Gross operating margin +€14,015
up €14,015 (+6.2%), from €226,777 to €240,792
- Financial income +€8,851
up €8,851 (+322.1%), from €2,748 to €11,599
- Taxes +€8,454
up €8,454 (+94.4%), from €8,958 to €17,412
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 | €953,645 | €1,069,048 | +€115,403 | +12.1% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €241,960 | €230,267 | -€11,693 | -4.8% |
| Tangible fixed assets | 22/27 | €241,960 | €230,267 | -€11,693 | -4.8% |
| Land and buildings | 22 | €223,972 | €215,124 | -€8,848 | -4.0% |
| Plant, machinery and equipment | 23 | €2,214 | €1,539 | -€675 | -30.5% |
| Furniture and vehicles | 24 | €13,334 | €6,014 | -€7,320 | -54.9% |
| Other tangible fixed assets | 26 | €2,439 | €7,590 | +€5,151 | +211.2% |
| Current assets | 29/58 | €711,685 | €838,781 | +€127,096 | +17.9% |
| Amounts receivable after more than one year | 29 | €56 | €56 | = | 0.0% |
| Other amounts receivable | 291 | €56 | €56 | = | 0.0% |
| Stocks and contracts in progress | 3 | €69,120 | €62,983 | -€6,137 | -8.9% |
| Stocks | 30/36 | €35,097 | €17,231 | -€17,866 | -50.9% |
| Contracts in progress | 37 | €34,024 | €45,752 | +€11,728 | +34.5% |
| Amounts receivable within one year | 40/41 | €355,829 | €332,368 | -€23,460 | -6.6% |
| Trade receivables | 40 | €319,073 | €321,832 | +€2,760 | +0.9% |
| Other amounts receivable | 41 | €36,756 | €10,536 | -€26,220 | -71.3% |
| Current investments | 50/53 | €103,911 | €122,482 | +€18,571 | +17.9% |
| Cash at bank and in hand | 54/58 | €172,301 | €311,142 | +€138,842 | +80.6% |
| Deferred charges and accrued income | 490/1 | €10,469 | €9,749 | -€720 | -6.9% |
| Total equity and liabilities | 10/49 | €953,645 | €1,069,048 | +€115,403 | +12.1% |
| Equity | 10/15 | €191,928 | €133,807 | -€58,120 | -30.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €173,328 | €115,207 | -€58,120 | -33.5% |
| Distributable reserves | 133 | €173,328 | €115,207 | -€58,120 | -33.5% |
| Amounts payable | 17/49 | €761,717 | €935,241 | +€173,523 | +22.8% |
| Amounts payable after more than one year | 17 | €191,295 | €173,730 | -€17,565 | -9.2% |
| Financial debts | 170/4 | €191,295 | €173,730 | -€17,565 | -9.2% |
| Amounts payable within one year | 42/48 | €570,118 | €761,233 | +€191,115 | +33.5% |
| Current portion of amounts payable after more than one year | 42 | €18,244 | €17,565 | -€679 | -3.7% |
| Trade debts | 44 | €116,587 | €123,920 | +€7,334 | +6.3% |
| Suppliers | 440/4 | €116,587 | €123,920 | +€7,334 | +6.3% |
| Advances received on contracts in progress | 46 | €340,239 | €457,523 | +€117,284 | +34.5% |
| Taxes, remuneration and social security | 45 | €34,710 | €49,565 | +€14,855 | +42.8% |
| Taxes | 450/3 | €9,899 | €27,822 | +€17,923 | +181.1% |
| Remuneration and social security | 454/9 | €24,811 | €21,744 | -€3,068 | -12.4% |
| Other amounts payable | 47/48 | €60,337 | €112,658 | +€52,321 | +86.7% |
| Accrued charges and deferred income | 492/3 | €305 | €278 | -€27 | -8.7% |
| Non-recurring operating income | 76A | €7,473 | €142 | -€7,331 | -98.1% |
| Remuneration, social security and pensions | 62 | €151,135 | €166,035 | +€14,899 | +9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,432 | €19,554 | -€1,878 | -8.8% |
| Other operating charges | 640/8 | €2,594 | €3,764 | +€1,170 | +45.1% |
| Non-recurring operating charges | 66A | €29,464 | €7,619 | -€21,844 | -74.1% |
| Gross operating margin | 9900 | €226,777 | €240,792 | +€14,015 | +6.2% |
| Operating profit (loss) | 9901 | €22,152 | €43,820 | +€21,668 | +97.8% |
| Financial income | 75/76B | €2,748 | €11,599 | +€8,851 | +322.1% |
| Recurring financial income | 75 | €2,748 | €11,599 | +€8,851 | +322.1% |
| Financial charges | 65/66B | €4,703 | €4,755 | +€52 | +1.1% |
| Recurring financial charges | 65 | €4,703 | €4,755 | +€52 | +1.1% |
| Profit (loss) for the period before taxes | 9903 | €20,197 | €50,664 | +€30,467 | +150.8% |
| Income taxes | 67/77 | €8,958 | €17,412 | +€8,454 | +94.4% |
| Profit (loss) for the period | 9904 | €11,239 | €33,252 | +€22,013 | +195.9% |
| Profit (loss) for the period to be appropriated | 9905 | €11,239 | €33,252 | +€22,013 | +195.9% |
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 7 October 2026 via checked.be.