LNM: 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.
LNM
Largest movements
- Cash +€4,233
up €4,233 (+4.3%), from €97,797 to €102,031
mainly Other debts (+€76,336) and Net result for the year (+€21,035)
- Tangible fixed assets -€2,500
no longer reported in 2025 (was €2,500)
- Receivables within one year -€1,261
down €1,261 (-13.3%), from €9,497 to €8,235
- Other debts +€76,336
up €76,336 (+1723.9%), from €4,428 to €80,764
- Reserves -€63,591
down €63,591 (-75.1%), from €84,626 to €21,035
- Tax, wage and social debts -€6,809
down €6,809 (-60.4%), from €11,276 to €4,467
- Trade debts -€5,677
down €5,677 (-73.9%), from €7,677 to €2,000
- Gross operating margin -€2,224
down €2,224 (-6.4%), from €34,517 to €32,293
- Other operating charges +€592
up €592 (+41.5%), from €1,428 to €2,020
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 | €110,007 | €110,266 | +€259 | +0.2% |
| Fixed assets | 21/28 | €2,500 | - | -€2,500 | |
| Tangible fixed assets | 22/27 | €2,500 | - | -€2,500 | |
| Furniture and vehicles | 24 | €2,500 | - | -€2,500 | |
| Current assets | 29/58 | €107,507 | €110,266 | +€2,759 | +2.6% |
| Amounts receivable within one year | 40/41 | €9,497 | €8,235 | -€1,261 | -13.3% |
| Trade receivables | 40 | €9,497 | €8,235 | -€1,261 | -13.3% |
| Cash at bank and in hand | 54/58 | €97,797 | €102,031 | +€4,233 | +4.3% |
| Deferred charges and accrued income | 490/1 | €213 | - | -€213 | |
| Total equity and liabilities | 10/49 | €110,007 | €110,266 | +€259 | +0.2% |
| Equity | 10/15 | €86,626 | €23,035 | -€63,591 | -73.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €84,626 | €21,035 | -€63,591 | -75.1% |
| Distributable reserves | 133 | €84,626 | €21,035 | -€63,591 | -75.1% |
| Amounts payable | 17/49 | €23,381 | €87,231 | +€63,850 | +273.1% |
| Amounts payable within one year | 42/48 | €23,381 | €87,231 | +€63,850 | +273.1% |
| Trade debts | 44 | €7,677 | €2,000 | -€5,677 | -73.9% |
| Suppliers | 440/4 | €7,677 | €2,000 | -€5,677 | -73.9% |
| Taxes, remuneration and social security | 45 | €11,276 | €4,467 | -€6,809 | -60.4% |
| Taxes | 450/3 | €11,276 | €4,467 | -€6,809 | -60.4% |
| Other amounts payable | 47/48 | €4,428 | €80,764 | +€76,336 | +1723.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,500 | €2,500 | = | 0.0% |
| Other operating charges | 640/8 | €1,428 | €2,020 | +€592 | +41.5% |
| Gross operating margin | 9900 | €34,517 | €32,293 | -€2,224 | -6.4% |
| Operating profit (loss) | 9901 | €30,589 | €27,773 | -€2,816 | -9.2% |
| Financial income | 75/76B | €122 | - | -€122 | |
| Recurring financial income | 75 | €122 | - | -€122 | |
| Financial charges | 65/66B | €257 | €83 | -€174 | -67.7% |
| Recurring financial charges | 65 | €257 | €83 | -€174 | -67.7% |
| Profit (loss) for the period before taxes | 9903 | €30,454 | €27,690 | -€2,764 | -9.1% |
| Income taxes | 67/77 | €6,918 | €6,655 | -€263 | -3.8% |
| Profit (loss) for the period | 9904 | €23,536 | €21,035 | -€2,501 | -10.6% |
| Profit (loss) for the period to be appropriated | 9905 | €23,536 | €21,035 | -€2,501 | -10.6% |
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 4 October 2026 via checked.be.