LMP18: 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.
LMP18
Largest movements
- Tangible fixed assets +€73,984
up €73,984 (+345%), from €21,416 to €95,399
of which Furniture and vehicles: +€74,496
- Cash +€19,827
up €19,827 (+42.4%), from €46,750 to €66,578
mainly Net result for the year (+€153,102) and Other debts (+€31,803)
- Receivables within one year +€8,824
up €8,824 (+27.8%), from €31,739 to €40,562
of which Trade receivables: +€16,930
- Current investments -€5,217
down €5,217 (-33.4%), from €15,610 to €10,393
- Deferred charges and accrued income -€3,081
down €3,081 (-55.1%), from €5,592 to €2,511
- Reserves +€56,332
up €56,332 (+58.2%), from €96,770 to €153,102
- Other debts +€31,803
new in 2025: €31,803
- Tax, wage and social debts +€10,985
up €10,985 (+62.6%), from €17,553 to €28,538
of which Taxes: +€8,335
- Trade debts -€3,717
no longer reported in 2025 (was €3,717)
- Gross operating margin +€94,230
up €94,230 (+69.5%), from €135,555 to €229,785
- Taxes +€25,249
up €25,249 (+98.1%), from €25,750 to €50,999
- Financial income -€10,894
down €10,894 (-98.5%), from €11,065 to €171
- Other operating charges +€10,683
up €10,683 (+486%), from €2,197 to €12,880
- Depreciation -€8,866
down €8,866 (-40.7%), from €21,780 to €12,914
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 | €121,107 | €215,443 | +€94,337 | +77.9% |
| Fixed assets | 21/28 | €21,416 | €95,399 | +€73,984 | +345% |
| Tangible fixed assets | 22/27 | €21,416 | €95,399 | +€73,984 | +345% |
| Plant, machinery and equipment | 23 | €333 | - | -€333 | |
| Furniture and vehicles | 24 | €20,904 | €95,399 | +€74,496 | +356% |
| Other tangible fixed assets | 26 | €180 | - | -€180 | |
| Current assets | 29/58 | €99,691 | €120,044 | +€20,353 | +20.4% |
| Amounts receivable within one year | 40/41 | €31,739 | €40,562 | +€8,824 | +27.8% |
| Trade receivables | 40 | €23,633 | €40,562 | +€16,930 | +71.6% |
| Other amounts receivable | 41 | €8,106 | - | -€8,106 | |
| Current investments | 50/53 | €15,610 | €10,393 | -€5,217 | -33.4% |
| Cash at bank and in hand | 54/58 | €46,750 | €66,578 | +€19,827 | +42.4% |
| Deferred charges and accrued income | 490/1 | €5,592 | €2,511 | -€3,081 | -55.1% |
| Total equity and liabilities | 10/49 | €121,107 | €215,443 | +€94,337 | +77.9% |
| Equity | 10/15 | €98,770 | €155,102 | +€56,332 | +57.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €96,770 | €153,102 | +€56,332 | +58.2% |
| Distributable reserves | 133 | €96,770 | €153,102 | +€56,332 | +58.2% |
| Amounts payable | 17/49 | €22,337 | €60,342 | +€38,005 | +170% |
| Amounts payable within one year | 42/48 | €22,337 | €60,342 | +€38,005 | +170% |
| Current portion of amounts payable after more than one year | 42 | €1,066 | - | -€1,066 | |
| Trade debts | 44 | €3,717 | - | -€3,717 | |
| Suppliers | 440/4 | €3,717 | - | -€3,717 | |
| Taxes, remuneration and social security | 45 | €17,553 | €28,538 | +€10,985 | +62.6% |
| Taxes | 450/3 | €17,553 | €25,888 | +€8,335 | +47.5% |
| Remuneration and social security | 454/9 | - | €2,650 | +€2,650 | |
| Other amounts payable | 47/48 | - | €31,803 | +€31,803 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,780 | €12,914 | -€8,866 | -40.7% |
| Other operating charges | 640/8 | €2,197 | €12,880 | +€10,683 | +486% |
| Gross operating margin | 9900 | €135,555 | €229,785 | +€94,230 | +69.5% |
| Operating profit (loss) | 9901 | €111,578 | €203,991 | +€92,413 | +82.8% |
| Financial income | 75/76B | €11,065 | €171 | -€10,894 | -98.5% |
| Recurring financial income | 75 | €11,065 | €171 | -€10,894 | -98.5% |
| Financial charges | 65/66B | €122 | €61 | -€61 | -50.1% |
| Recurring financial charges | 65 | €122 | €61 | -€61 | -50.1% |
| Profit (loss) for the period before taxes | 9903 | €122,520 | €204,100 | +€81,580 | +66.6% |
| Income taxes | 67/77 | €25,750 | €50,999 | +€25,249 | +98.1% |
| Profit (loss) for the period | 9904 | €96,770 | €153,102 | +€56,332 | +58.2% |
| Profit (loss) for the period to be appropriated | 9905 | €96,770 | €153,102 | +€56,332 | +58.2% |
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 16 October 2026 via checked.be.