LMS PROJECTS: 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.
LMS PROJECTS
Largest movements
- Cash +€28,968
up €28,968 (+691.2%), from €4,191 to €33,159
mainly Net result for the year (+€26,468) and Tax, wage and social debts (+€10,669)
- Receivables within one year +€10,799
up €10,799 (+307.5%), from €3,512 to €14,311
of which Other amounts receivable: +€6,737
- Tangible fixed assets -€2,370
down €2,370 (-36.4%), from €6,506 to €4,136
- Profit (loss) carried forward +€26,468
up €26,468 (+1540.5%), from €1,718 to €28,186
- Tax, wage and social debts +€10,669
up €10,669 (+229.2%), from €4,655 to €15,324
- Debts after one year -€3,093
down €3,093 (-59.5%), from €5,195 to €2,102
- Advances received +€1,960
new in 2025: €1,960
- Trade debts +€1,306
up €1,306 (+307.8%), from €424 to €1,730
- Gross operating margin +€34,114
up €34,114 (+477.1%), from €7,151 to €41,264
- Taxes +€6,583
up €6,583 (+601.5%), from €1,094 to €7,678
- Depreciation +€2,819
up €2,819 (+278.7%), from €1,011 to €3,831
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 | €16,014 | €53,394 | +€37,380 | +233.4% |
| Fixed assets | 21/28 | €6,506 | €4,136 | -€2,370 | -36.4% |
| Tangible fixed assets | 22/27 | €6,506 | €4,136 | -€2,370 | -36.4% |
| Plant, machinery and equipment | 23 | €6,506 | €4,136 | -€2,370 | -36.4% |
| Current assets | 29/58 | €9,508 | €49,259 | +€39,751 | +418.1% |
| Amounts receivable within one year | 40/41 | €3,512 | €14,311 | +€10,799 | +307.5% |
| Trade receivables | 40 | €569 | €4,631 | +€4,062 | +713.5% |
| Other amounts receivable | 41 | €2,942 | €9,680 | +€6,737 | +229.0% |
| Cash at bank and in hand | 54/58 | €4,191 | €33,159 | +€28,968 | +691.2% |
| Deferred charges and accrued income | 490/1 | €1,805 | €1,788 | -€17 | -0.9% |
| Total equity and liabilities | 10/49 | €16,014 | €53,394 | +€37,380 | +233.4% |
| Equity | 10/15 | €2,718 | €29,186 | +€26,468 | +973.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,718 | €28,186 | +€26,468 | +1540.5% |
| Amounts payable | 17/49 | €13,296 | €24,208 | +€10,912 | +82.1% |
| Amounts payable after more than one year | 17 | €5,195 | €2,102 | -€3,093 | -59.5% |
| Financial debts | 170/4 | €5,195 | €2,102 | -€3,093 | -59.5% |
| Amounts payable within one year | 42/48 | €8,101 | €22,106 | +€14,005 | +172.9% |
| Current portion of amounts payable after more than one year | 42 | €3,022 | €3,093 | +€71 | +2.3% |
| Trade debts | 44 | €424 | €1,730 | +€1,306 | +307.8% |
| Suppliers | 440/4 | €424 | €1,730 | +€1,306 | +307.8% |
| Advances received on contracts in progress | 46 | - | €1,960 | +€1,960 | |
| Taxes, remuneration and social security | 45 | €4,655 | €15,324 | +€10,669 | +229.2% |
| Taxes | 450/3 | €4,655 | €15,324 | +€10,669 | +229.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,011 | €3,831 | +€2,819 | +278.7% |
| Other operating charges | 640/8 | €1,713 | €1,529 | -€184 | -10.8% |
| Gross operating margin | 9900 | €7,151 | €41,264 | +€34,114 | +477.1% |
| Operating profit (loss) | 9901 | €4,426 | €35,905 | +€31,479 | +711.2% |
| Financial income | 75/76B | €9 | €164 | +€155 | +1796.9% |
| Recurring financial income | 75 | €9 | €164 | +€155 | +1796.9% |
| Financial charges | 65/66B | €1,622 | €1,923 | +€301 | +18.6% |
| Recurring financial charges | 65 | €1,622 | €1,923 | +€301 | +18.6% |
| Profit (loss) for the period before taxes | 9903 | €2,813 | €34,146 | +€31,333 | +1114.0% |
| Income taxes | 67/77 | €1,094 | €7,678 | +€6,583 | +601.5% |
| Profit (loss) for the period | 9904 | €1,718 | €26,468 | +€24,750 | +1440.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,718 | €26,468 | +€24,750 | +1440.5% |
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 7 October 2026 via checked.be.