LML: 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.
LML
Largest movements
- Stocks and contracts +€32,045
up €32,045 (+32.0%), from €100,049 to €132,095
- Deferred charges and accrued income -€7,489
down €7,489 (-70.1%), from €10,676 to €3,187
- Tangible fixed assets -€6,296
down €6,296 (-34.4%), from €18,277 to €11,981
of which Furniture and vehicles: -€4,021
- Cash -€5,747
down €5,747 (-45.2%), from €12,716 to €6,969
mainly Net result for the year (-€78,442) and Stocks and contracts (-€32,045)
- Other debts +€92,212
up €92,212 (+116%), from €79,448 to €171,660
- Profit (loss) carried forward -€78,442
down €78,442 (-170%), from -€46,034 to -€124,476
- Accrued charges and deferred income +€2,198
new in 2025: €2,198
- Trade debts -€1,967
down €1,967 (-18.3%), from €10,729 to €8,762
- Gross operating margin -€56,837
down €56,837 (-84.9%), from €66,923 to €10,086
- Depreciation -€8,431
down €8,431 (-57.2%), from €14,726 to €6,296
- Staff costs -€1,360
down €1,360 (-1.7%), from €81,108 to €79,748
- Financial income -€967
down €967 (-52.1%), from €1,857 to €890
- Other operating charges +€933
up €933 (+241%), from €387 to €1,321
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.
Derived cash bridge
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 | €146,593 | €159,296 | +€12,703 | +8.7% |
| Fixed assets | 21/28 | €23,032 | €16,661 | -€6,371 | -27.7% |
| Tangible fixed assets | 22/27 | €18,277 | €11,981 | -€6,296 | -34.4% |
| Plant, machinery and equipment | 23 | €1,317 | €746 | -€571 | -43.4% |
| Furniture and vehicles | 24 | €5,031 | €1,011 | -€4,021 | -79.9% |
| Other tangible fixed assets | 26 | €11,928 | €10,225 | -€1,703 | -14.3% |
| Financial fixed assets | 28 | €4,755 | €4,680 | -€75 | -1.6% |
| Current assets | 29/58 | €123,562 | €142,635 | +€19,073 | +15.4% |
| Stocks and contracts in progress | 3 | €100,049 | €132,095 | +€32,045 | +32.0% |
| Stocks | 30/36 | €100,049 | €132,095 | +€32,045 | +32.0% |
| Amounts receivable within one year | 40/41 | €120 | €384 | +€264 | +220% |
| Trade receivables | 40 | €120 | €384 | +€264 | +220% |
| Cash at bank and in hand | 54/58 | €12,716 | €6,969 | -€5,747 | -45.2% |
| Deferred charges and accrued income | 490/1 | €10,676 | €3,187 | -€7,489 | -70.1% |
| Total equity and liabilities | 10/49 | €146,593 | €159,296 | +€12,703 | +8.7% |
| Equity | 10/15 | €39,592 | -€38,849 | -€78,442 | |
| Contributions | 10/11 | €85,000 | €85,000 | = | 0.0% |
| Reserves | 13 | €626 | €626 | = | 0.0% |
| Distributable reserves | 133 | €626 | €626 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€46,034 | -€124,476 | -€78,442 | -170% |
| Amounts payable | 17/49 | €107,001 | €198,145 | +€91,144 | +85.2% |
| Amounts payable within one year | 42/48 | €107,001 | €195,947 | +€88,946 | +83.1% |
| Trade debts | 44 | €10,729 | €8,762 | -€1,967 | -18.3% |
| Suppliers | 440/4 | €10,729 | €8,762 | -€1,967 | -18.3% |
| Taxes, remuneration and social security | 45 | €16,823 | €15,524 | -€1,299 | -7.7% |
| Taxes | 450/3 | €5,554 | €6,498 | +€944 | +17.0% |
| Remuneration and social security | 454/9 | €11,269 | €9,027 | -€2,243 | -19.9% |
| Other amounts payable | 47/48 | €79,448 | €171,660 | +€92,212 | +116% |
| Accrued charges and deferred income | 492/3 | - | €2,198 | +€2,198 | |
| Remuneration, social security and pensions | 62 | €81,108 | €79,748 | -€1,360 | -1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,726 | €6,296 | -€8,431 | -57.2% |
| Other operating charges | 640/8 | €387 | €1,321 | +€933 | +241% |
| Non-recurring operating charges | 66A | - | €26 | +€26 | |
| Gross operating margin | 9900 | €66,923 | €10,086 | -€56,837 | -84.9% |
| Operating profit (loss) | 9901 | -€29,298 | -€77,304 | -€48,006 | -164% |
| Financial income | 75/76B | €1,857 | €890 | -€967 | -52.1% |
| Recurring financial income | 75 | €1,857 | €890 | -€967 | -52.1% |
| Financial charges | 65/66B | €2,548 | €1,858 | -€690 | -27.1% |
| Recurring financial charges | 65 | €2,548 | €1,858 | -€690 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | -€29,990 | -€78,272 | -€48,283 | -161% |
| Income taxes | 67/77 | - | €169 | +€169 | |
| Profit (loss) for the period | 9904 | -€29,990 | -€78,442 | -€48,452 | -162% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,990 | -€78,442 | -€48,452 | -162% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.