LMM: 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.
LMM
Largest movements
- Current investments +€200,000
up €200,000 (+333.6%), from €59,947 to €259,947
- Deferred charges and accrued income -€156,327
down €156,327 (-99.8%), from €156,603 to €276
- Tangible fixed assets -€134,138
down €134,138 (-40.2%), from €333,730 to €199,592
of which Land and buildings: -€163,010
- Cash -€48,239
down €48,239 (-36.5%), from €132,188 to €83,950
mainly Debts after one year (-€259,974) and Current investments (-€200,000)
- Reserves +€264,750
up €264,750 (+40.1%), from €660,765 to €925,515
- Debts after one year -€259,974
down €259,974 (-28.0%), from €926,874 to €666,900
- Other debts -€130,208
down €130,208 (-24.0%), from €542,217 to €412,009
- Financial income +€168,827
up €168,827 (+9522.2%), from €1,773 to €170,600
- Gross operating margin -€131,606
down €131,606 (-35.6%), from €370,112 to €238,506
- Taxes -€31,424
down €31,424 (-39.9%), from €78,738 to €47,314
- Financial charges -€7,504
down €7,504 (-18.6%), from €40,401 to €32,897
- Other operating charges -€5,432
down €5,432 (-41.2%), from €13,198 to €7,766
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,383,594 | €4,243,308 | -€140,285 | -3.2% |
| Fixed assets | 21/28 | €4,007,453 | €3,873,315 | -€134,138 | -3.3% |
| Tangible fixed assets | 22/27 | €333,730 | €199,592 | -€134,138 | -40.2% |
| Land and buildings | 22 | €277,945 | €114,935 | -€163,010 | -58.6% |
| Plant, machinery and equipment | 23 | - | €42,095 | +€42,095 | |
| Furniture and vehicles | 24 | €55,785 | €42,562 | -€13,223 | -23.7% |
| Financial fixed assets | 28 | €3,673,723 | €3,673,723 | = | 0.0% |
| Current assets | 29/58 | €376,140 | €369,993 | -€6,147 | -1.6% |
| Amounts receivable within one year | 40/41 | €27,402 | €25,820 | -€1,582 | -5.8% |
| Trade receivables | 40 | €22,114 | €21,048 | -€1,066 | -4.8% |
| Other amounts receivable | 41 | €5,288 | €4,773 | -€515 | -9.7% |
| Current investments | 50/53 | €59,947 | €259,947 | +€200,000 | +333.6% |
| Cash at bank and in hand | 54/58 | €132,188 | €83,950 | -€48,239 | -36.5% |
| Deferred charges and accrued income | 490/1 | €156,603 | €276 | -€156,327 | -99.8% |
| Total equity and liabilities | 10/49 | €4,383,594 | €4,243,308 | -€140,285 | -3.2% |
| Equity | 10/15 | €2,723,765 | €2,988,515 | +€264,750 | +9.7% |
| Contributions | 10/11 | €2,063,000 | €2,063,000 | = | 0.0% |
| Reserves | 13 | €660,765 | €925,515 | +€264,750 | +40.1% |
| Distributable reserves | 133 | €660,765 | €925,515 | +€264,750 | +40.1% |
| Amounts payable | 17/49 | €1,659,829 | €1,254,793 | -€405,036 | -24.4% |
| Amounts payable after more than one year | 17 | €926,874 | €666,900 | -€259,974 | -28.0% |
| Financial debts | 170/4 | €926,874 | €666,900 | -€259,974 | -28.0% |
| Amounts payable within one year | 42/48 | €730,193 | €587,893 | -€142,300 | -19.5% |
| Current portion of amounts payable after more than one year | 42 | €156,797 | €149,945 | -€6,852 | -4.4% |
| Trade debts | 44 | €1,804 | €7,971 | +€6,167 | +341.8% |
| Suppliers | 440/4 | €1,804 | €7,971 | +€6,167 | +341.8% |
| Taxes, remuneration and social security | 45 | €29,375 | €17,968 | -€11,407 | -38.8% |
| Taxes | 450/3 | €26,486 | €16,318 | -€10,168 | -38.4% |
| Remuneration and social security | 454/9 | €2,889 | €1,650 | -€1,239 | -42.9% |
| Other amounts payable | 47/48 | €542,217 | €412,009 | -€130,208 | -24.0% |
| Accrued charges and deferred income | 492/3 | €2,762 | €0 | -€2,762 | -100.0% |
| Remuneration, social security and pensions | 62 | - | €2,257 | +€2,257 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,534 | €21,009 | -€4,525 | -17.7% |
| Other operating charges | 640/8 | €13,198 | €7,766 | -€5,432 | -41.2% |
| Non-recurring operating charges | 66A | €795 | €495 | -€300 | -37.8% |
| Gross operating margin | 9900 | €370,112 | €238,506 | -€131,606 | -35.6% |
| Operating profit (loss) | 9901 | €330,584 | €206,979 | -€123,605 | -37.4% |
| Financial income | 75/76B | €1,773 | €170,600 | +€168,827 | +9522.2% |
| Recurring financial income | 75 | €1,773 | €170,600 | +€168,827 | +9522.2% |
| Financial charges | 65/66B | €40,401 | €32,897 | -€7,504 | -18.6% |
| Recurring financial charges | 65 | €40,401 | €32,897 | -€7,504 | -18.6% |
| Profit (loss) for the period before taxes | 9903 | €291,957 | €344,682 | +€52,725 | +18.1% |
| Income taxes | 67/77 | €78,738 | €47,314 | -€31,424 | -39.9% |
| Profit (loss) for the period | 9904 | €213,219 | €297,368 | +€84,149 | +39.5% |
| Profit (loss) for the period to be appropriated | 9905 | €213,219 | €297,368 | +€84,149 | +39.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.