LMT INVEST: what changed
LMT INVEST
Largest movements
- Receivables within one year -€28,383
down €28,383 (-56.8%), from €49,951 to €21,568
of which Other amounts receivable: -€30,603
- Cash -€15,435
down €15,435 (-74.4%), from €20,742 to €5,307
mainly Contributions, distributions and other (-€29,412) and Net result for the year (-€11,162)
- Tangible fixed assets +€1,937
up €1,937 (+101%), from €1,923 to €3,861
of which Other tangible fixed assets: +€3,861
- Reserves -€40,573
down €40,573 (-66.8%), from €60,729 to €20,155
- Current portion of long-term debt +€2,678
new in 2025: €2,678
- Trade debts -€2,173
down €2,173 (-40.9%), from €5,315 to €3,142
- Tax, wage and social debts -€1,685
down €1,685 (-28.1%), from €5,988 to €4,303
of which Taxes: -€1,135
- Gross operating margin -€36,279
down €36,279 (-49.3%), from €73,624 to €37,345
- Taxes -€5,248
no longer reported in 2025 (was €5,248)
- Staff costs -€4,238
down €4,238 (-8.7%), from €48,440 to €44,202
- Depreciation -€1,031
down €1,031 (-32.8%), from €3,143 to €2,113
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €75,032 | €33,279 | -€41,753 | -55.6% |
| Fixed assets | 21/28 | €1,923 | €3,861 | +€1,937 | +101% |
| Tangible fixed assets | 22/27 | €1,923 | €3,861 | +€1,937 | +101% |
| Plant, machinery and equipment | 23 | €1,923 | - | -€1,923 | |
| Other tangible fixed assets | 26 | - | €3,861 | +€3,861 | |
| Current assets | 29/58 | €73,108 | €29,418 | -€43,691 | -59.8% |
| Stocks and contracts in progress | 3 | €929 | €1,021 | +€92 | +9.9% |
| Stocks | 30/36 | €929 | €1,021 | +€92 | +9.9% |
| Amounts receivable within one year | 40/41 | €49,951 | €21,568 | -€28,383 | -56.8% |
| Trade receivables | 40 | €1,219 | €3,439 | +€2,220 | +182% |
| Other amounts receivable | 41 | €48,732 | €18,129 | -€30,603 | -62.8% |
| Cash at bank and in hand | 54/58 | €20,742 | €5,307 | -€15,435 | -74.4% |
| Deferred charges and accrued income | 490/1 | €1,486 | €1,523 | +€36 | +2.4% |
| Total equity and liabilities | 10/49 | €75,032 | €33,279 | -€41,753 | -55.6% |
| Equity | 10/15 | €63,729 | €23,155 | -€40,573 | -63.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €60,729 | €20,155 | -€40,573 | -66.8% |
| Distributable reserves | 133 | €60,729 | €20,155 | -€40,573 | -66.8% |
| Amounts payable | 17/49 | €11,303 | €10,123 | -€1,180 | -10.4% |
| Amounts payable within one year | 42/48 | €11,303 | €10,123 | -€1,180 | -10.4% |
| Current portion of amounts payable after more than one year | 42 | - | €2,678 | +€2,678 | |
| Trade debts | 44 | €5,315 | €3,142 | -€2,173 | -40.9% |
| Suppliers | 440/4 | €5,315 | €3,142 | -€2,173 | -40.9% |
| Taxes, remuneration and social security | 45 | €5,988 | €4,303 | -€1,685 | -28.1% |
| Taxes | 450/3 | €3,883 | €2,748 | -€1,135 | -29.2% |
| Remuneration and social security | 454/9 | €2,105 | €1,555 | -€550 | -26.1% |
| Remuneration, social security and pensions | 62 | €48,440 | €44,202 | -€4,238 | -8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,143 | €2,113 | -€1,031 | -32.8% |
| Other operating charges | 640/8 | €1,473 | €1,664 | +€190 | +12.9% |
| Gross operating margin | 9900 | €73,624 | €37,345 | -€36,279 | -49.3% |
| Operating profit (loss) | 9901 | €20,568 | -€10,633 | -€31,200 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €905 | €529 | -€376 | -41.5% |
| Recurring financial charges | 65 | €759 | €402 | -€357 | -47.0% |
| Non-recurring financial charges | 66B | €146 | €127 | -€19 | -13.1% |
| Profit (loss) for the period before taxes | 9903 | €19,663 | -€11,162 | -€30,824 | |
| Income taxes | 67/77 | €5,248 | - | -€5,248 | |
| Profit (loss) for the period | 9904 | €14,415 | -€11,162 | -€25,576 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,415 | -€11,162 | -€25,576 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.