LMQS: 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.
LMQS
Largest movements
- Tangible fixed assets +€74,585
up €74,585 (+170.9%), from €43,655 to €118,240
of which Furniture and vehicles: +€64,905
- Receivables within one year -€8,259
down €8,259 (-32.6%), from €25,357 to €17,099
of which Trade receivables: -€15,349
- Financial fixed assets -€8,000
down €8,000 (-100.0%), from €8,000 to €0
- Cash +€7,888
up €7,888 (+46.7%), from €16,904 to €24,791
mainly Debts after one year (+€53,527) and Other debts (+€39,836)
- Deferred charges and accrued income +€2,580
up €2,580, from €0 to €2,580
- Debts after one year +€53,527
new in 2025: €53,527
- Reserves -€52,927
down €52,927 (-97.0%), from €54,568 to €1,640
- Other debts +€39,836
up €39,836 (+1874.1%), from €2,126 to €41,961
- Current portion of long-term debt +€13,229
up €13,229, from €0 to €13,229
- Trade debts +€9,230
up €9,230 (+109.5%), from €8,433 to €17,663
- Gross operating margin -€68,579
down €68,579 (-75.8%), from €90,464 to €21,884
- Taxes -€17,722
down €17,722 (-85.4%), from €20,740 to €3,019
- Depreciation +€2,267
up €2,267 (+20.0%), from €11,312 to €13,579
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 | €93,916 | €162,710 | +€68,794 | +73.3% |
| Fixed assets | 21/28 | €51,655 | €118,240 | +€66,585 | +128.9% |
| Tangible fixed assets | 22/27 | €43,655 | €118,240 | +€74,585 | +170.9% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €43,655 | €108,560 | +€64,905 | +148.7% |
| Other tangible fixed assets | 26 | - | €9,680 | +€9,680 | |
| Financial fixed assets | 28 | €8,000 | €0 | -€8,000 | -100.0% |
| Current assets | 29/58 | €42,261 | €44,470 | +€2,209 | +5.2% |
| Amounts receivable within one year | 40/41 | €25,357 | €17,099 | -€8,259 | -32.6% |
| Trade receivables | 40 | €24,967 | €9,617 | -€15,349 | -61.5% |
| Other amounts receivable | 41 | €391 | €7,481 | +€7,091 | +1814.2% |
| Cash at bank and in hand | 54/58 | €16,904 | €24,791 | +€7,888 | +46.7% |
| Deferred charges and accrued income | 490/1 | €0 | €2,580 | +€2,580 | |
| Total equity and liabilities | 10/49 | €93,916 | €162,710 | +€68,794 | +73.3% |
| Equity | 10/15 | €73,118 | €20,190 | -€52,927 | -72.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €54,568 | €1,640 | -€52,927 | -97.0% |
| Distributable reserves | 133 | €54,568 | €1,640 | -€52,927 | -97.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €20,798 | €142,520 | +€121,722 | +585.3% |
| Amounts payable after more than one year | 17 | - | €53,527 | +€53,527 | |
| Financial debts | 170/4 | - | €53,527 | +€53,527 | |
| Amounts payable within one year | 42/48 | €18,798 | €81,793 | +€62,994 | +335.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | €13,229 | +€13,229 | |
| Trade debts | 44 | €8,433 | €17,663 | +€9,230 | +109.5% |
| Suppliers | 440/4 | €8,433 | €17,663 | +€9,230 | +109.5% |
| Taxes, remuneration and social security | 45 | €8,240 | €8,939 | +€699 | +8.5% |
| Taxes | 450/3 | €8,240 | €8,939 | +€699 | +8.5% |
| Other amounts payable | 47/48 | €2,126 | €41,961 | +€39,836 | +1874.1% |
| Accrued charges and deferred income | 492/3 | €2,000 | €7,200 | +€5,200 | +260.0% |
| Non-recurring operating income | 76A | - | €1,210 | +€1,210 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,312 | €13,579 | +€2,267 | +20.0% |
| Other operating charges | 640/8 | €1,521 | €1,564 | +€43 | +2.8% |
| Non-recurring operating charges | 66A | €2,123 | €1,312 | -€811 | -38.2% |
| Gross operating margin | 9900 | €90,464 | €21,884 | -€68,579 | -75.8% |
| Operating profit (loss) | 9901 | €75,508 | €5,430 | -€70,078 | -92.8% |
| Financial income | 75/76B | €5 | €7 | +€1 | +22.4% |
| Recurring financial income | 75 | €5 | €7 | +€1 | +22.4% |
| Financial charges | 65/66B | €205 | €777 | +€572 | +279.1% |
| Recurring financial charges | 65 | €205 | €777 | +€572 | +279.1% |
| Profit (loss) for the period before taxes | 9903 | €75,308 | €4,659 | -€70,649 | -93.8% |
| Income taxes | 67/77 | €20,740 | €3,019 | -€17,722 | -85.4% |
| Profit (loss) for the period | 9904 | €54,568 | €1,640 | -€52,927 | -97.0% |
| Profit (loss) for the period to be appropriated | 9905 | €54,568 | €1,640 | -€52,927 | -97.0% |
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 30 September 2026 via checked.be.