LMSV: 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.
LMSV
Largest movements
- Receivables within one year -€5,873
down €5,873 (-40.2%), from €14,615 to €8,742
of which Trade receivables: -€6,564
- Cash -€5,551
down €5,551 (-57.9%), from €9,583 to €4,032
mainly Net result for the year (-€17,765) and Trade debts (-€1,812)
- Tangible fixed assets -€1,424
down €1,424 (-31.5%), from €4,525 to €3,101
- Profit (loss) carried forward -€17,765
down €17,765, from €1,620 to -€16,145
- Other debts +€7,197
up €7,197 (+53.0%), from €13,574 to €20,771
- Trade debts -€1,812
down €1,812 (-26.9%), from €6,730 to €4,918
- Tax, wage and social debts -€469
down €469 (-58.7%), from €799 to €330
- Gross operating margin -€18,799
down €18,799, from €3,638 to -€15,161
- Depreciation +€782
up €782 (+122%), from €643 to €1,424
- Taxes -€469
down €469 (-58.7%), from €799 to €330
- Financial charges +€253
up €253 (+248%), from €102 to €356
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 | €28,723 | €15,875 | -€12,848 | -44.7% |
| Fixed assets | 21/28 | €4,525 | €3,101 | -€1,424 | -31.5% |
| Tangible fixed assets | 22/27 | €4,525 | €3,101 | -€1,424 | -31.5% |
| Plant, machinery and equipment | 23 | €4,525 | €3,101 | -€1,424 | -31.5% |
| Current assets | 29/58 | €24,198 | €12,774 | -€11,424 | -47.2% |
| Amounts receivable within one year | 40/41 | €14,615 | €8,742 | -€5,873 | -40.2% |
| Trade receivables | 40 | €7,627 | €1,063 | -€6,564 | -86.1% |
| Other amounts receivable | 41 | €6,988 | €7,679 | +€691 | +9.9% |
| Cash at bank and in hand | 54/58 | €9,583 | €4,032 | -€5,551 | -57.9% |
| Total equity and liabilities | 10/49 | €28,723 | €15,875 | -€12,848 | -44.7% |
| Equity | 10/15 | €7,620 | -€10,145 | -€17,765 | |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,620 | -€16,145 | -€17,765 | |
| Amounts payable | 17/49 | €21,103 | €26,019 | +€4,916 | +23.3% |
| Amounts payable within one year | 42/48 | €21,103 | €26,019 | +€4,916 | +23.3% |
| Trade debts | 44 | €6,730 | €4,918 | -€1,812 | -26.9% |
| Suppliers | 440/4 | €6,730 | €4,918 | -€1,812 | -26.9% |
| Taxes, remuneration and social security | 45 | €799 | €330 | -€469 | -58.7% |
| Taxes | 450/3 | €799 | €330 | -€469 | -58.7% |
| Other amounts payable | 47/48 | €13,574 | €20,771 | +€7,197 | +53.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €643 | €1,424 | +€782 | +122% |
| Other operating charges | 640/8 | €491 | €494 | +€3 | +0.6% |
| Gross operating margin | 9900 | €3,638 | -€15,161 | -€18,799 | |
| Operating profit (loss) | 9901 | €2,505 | -€17,079 | -€19,584 | |
| Financial income | 75/76B | €16 | - | -€16 | |
| Recurring financial income | 75 | €16 | - | -€16 | |
| Financial charges | 65/66B | €102 | €356 | +€253 | +248% |
| Recurring financial charges | 65 | €102 | €356 | +€253 | +248% |
| Profit (loss) for the period before taxes | 9903 | €2,419 | -€17,435 | -€19,854 | |
| Income taxes | 67/77 | €799 | €330 | -€469 | -58.7% |
| Profit (loss) for the period | 9904 | €1,620 | -€17,765 | -€19,385 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,620 | -€17,765 | -€19,385 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.