LMJ Construct: 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.
LMJ Construct
Largest movements
- Receivables within one year -€275,215
down €275,215 (-35.4%), from €778,107 to €502,892
of which Trade receivables: -€250,873
- Stocks and contracts +€228,326
up €228,326 (+54.0%), from €422,579 to €650,904
- Cash -€104,540
down €104,540 (-27.1%), from €385,879 to €281,338
mainly Stocks and contracts (-€228,326) and Accrued charges and deferred income (-€114,890)
- Tangible fixed assets -€65,624
down €65,624 (-6.8%), from €971,354 to €905,730
of which Land and buildings: -€74,769
- Accrued charges and deferred income -€114,890
down €114,890 (-20.6%), from €556,690 to €441,800
- Reserves +€106,481
up €106,481 (+11.2%), from €953,416 to €1.1m
- Debts after one year -€82,238
down €82,238 (-19.5%), from €421,612 to €339,374
- Trade debts -€81,526
down €81,526 (-31.5%), from €258,900 to €177,374
- Tax, wage and social debts -€33,088
down €33,088 (-27.0%), from €122,655 to €89,567
of which Taxes: -€35,440
- Write-downs -€60,883
no longer reported in 2026 (was €60,883)
- Staff costs +€32,633
up €32,633 (+7.3%), from €448,612 to €481,245
- Depreciation +€16,325
up €16,325 (+11.3%), from €143,847 to €160,172
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,579,006 | €2,357,924 | -€221,082 | -8.6% |
| Fixed assets | 21/28 | €977,320 | €911,507 | -€65,813 | -6.7% |
| Intangible fixed assets | 21 | €5,966 | €5,777 | -€189 | -3.2% |
| Tangible fixed assets | 22/27 | €971,354 | €905,730 | -€65,624 | -6.8% |
| Land and buildings | 22 | €753,490 | €678,721 | -€74,769 | -9.9% |
| Plant, machinery and equipment | 23 | €83,300 | €99,906 | +€16,606 | +19.9% |
| Furniture and vehicles | 24 | €134,564 | €127,103 | -€7,460 | -5.5% |
| Current assets | 29/58 | €1,601,686 | €1,446,417 | -€155,269 | -9.7% |
| Stocks and contracts in progress | 3 | €422,579 | €650,904 | +€228,326 | +54.0% |
| Stocks | 30/36 | €422,579 | €650,904 | +€228,326 | +54.0% |
| Amounts receivable within one year | 40/41 | €778,107 | €502,892 | -€275,215 | -35.4% |
| Trade receivables | 40 | €753,764 | €502,892 | -€250,873 | -33.3% |
| Other amounts receivable | 41 | €24,342 | - | -€24,342 | |
| Cash at bank and in hand | 54/58 | €385,879 | €281,338 | -€104,540 | -27.1% |
| Deferred charges and accrued income | 490/1 | €15,122 | €11,282 | -€3,840 | -25.4% |
| Total equity and liabilities | 10/49 | €2,579,006 | €2,357,924 | -€221,082 | -8.6% |
| Equity | 10/15 | €1,108,416 | €1,214,897 | +€106,481 | +9.6% |
| Contributions | 10/11 | €155,000 | €155,000 | = | 0.0% |
| Reserves | 13 | €953,416 | €1,059,897 | +€106,481 | +11.2% |
| Distributable reserves | 133 | €953,416 | €1,059,897 | +€106,481 | +11.2% |
| Amounts payable | 17/49 | €1,470,590 | €1,143,027 | -€327,563 | -22.3% |
| Amounts payable after more than one year | 17 | €421,612 | €339,374 | -€82,238 | -19.5% |
| Financial debts | 170/4 | €421,612 | €339,374 | -€82,238 | -19.5% |
| Amounts payable within one year | 42/48 | €492,289 | €361,853 | -€130,436 | -26.5% |
| Current portion of amounts payable after more than one year | 42 | €80,857 | €82,238 | +€1,381 | +1.7% |
| Trade debts | 44 | €258,900 | €177,374 | -€81,526 | -31.5% |
| Suppliers | 440/4 | €258,900 | €177,374 | -€81,526 | -31.5% |
| Taxes, remuneration and social security | 45 | €122,655 | €89,567 | -€33,088 | -27.0% |
| Taxes | 450/3 | €72,940 | €37,500 | -€35,440 | -48.6% |
| Remuneration and social security | 454/9 | €49,715 | €52,067 | +€2,352 | +4.7% |
| Other amounts payable | 47/48 | €29,876 | €12,674 | -€17,202 | -57.6% |
| Accrued charges and deferred income | 492/3 | €556,690 | €441,800 | -€114,890 | -20.6% |
| Non-recurring operating income | 76A | €488 | - | -€488 | |
| Remuneration, social security and pensions | 62 | €448,612 | €481,245 | +€32,633 | +7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €143,847 | €160,172 | +€16,325 | +11.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €60,883 | - | -€60,883 | |
| Other operating charges | 640/8 | €16,763 | €16,216 | -€547 | -3.3% |
| Non-recurring operating charges | 66A | €3,034 | €2,488 | -€546 | -18.0% |
| Gross operating margin | 9900 | €830,178 | €827,038 | -€3,140 | -0.4% |
| Operating profit (loss) | 9901 | €157,039 | €166,916 | +€9,877 | +6.3% |
| Financial income | 75/76B | €638 | €131 | -€508 | -79.5% |
| Recurring financial income | 75 | €638 | €131 | -€508 | -79.5% |
| Financial charges | 65/66B | €9,667 | €13,229 | +€3,562 | +36.9% |
| Recurring financial charges | 65 | €9,667 | €13,229 | +€3,562 | +36.9% |
| Profit (loss) for the period before taxes | 9903 | €148,011 | €153,818 | +€5,807 | +3.9% |
| Income taxes | 67/77 | €46,024 | €47,337 | +€1,312 | +2.9% |
| Profit (loss) for the period | 9904 | €101,986 | €106,481 | +€4,495 | +4.4% |
| Profit (loss) for the period to be appropriated | 9905 | €101,986 | €106,481 | +€4,495 | +4.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.