LSM CONCEPT: 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.
LSM CONCEPT
Largest movements
- Cash +€50,394
up €50,394 (+66.6%), from €75,679 to €126,073
mainly Net result for the year (+€51,591) and Tax, wage and social debts (+€11,872)
- Receivables within one year +€15,027
up €15,027 (+87.9%), from €17,102 to €32,129
of which Other amounts receivable: +€15,576
- Reserves +€52,000
up €52,000 (+76.5%), from €68,000 to €120,000
- Tax, wage and social debts +€11,872
up €11,872 (+56.9%), from €20,864 to €32,735
- Turnover -€41,881
down €41,881 (-26.6%), from €157,352 to €115,471
- Gross operating margin -€21,099
down €21,099 (-24.1%), from €87,373 to €66,274
- Purchases and services -€20,782
down €20,782 (-29.7%), from €69,979 to €49,198
- Taxes -€3,992
down €3,992 (-21.7%), from €18,364 to €14,372
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 | €92,781 | €158,202 | +€65,421 | +70.5% |
| Current assets | 29/58 | €92,781 | €158,202 | +€65,421 | +70.5% |
| Amounts receivable within one year | 40/41 | €17,102 | €32,129 | +€15,027 | +87.9% |
| Trade receivables | 40 | €960 | €411 | -€549 | -57.2% |
| Other amounts receivable | 41 | €16,141 | €31,718 | +€15,576 | +96.5% |
| Cash at bank and in hand | 54/58 | €75,679 | €126,073 | +€50,394 | +66.6% |
| Total equity and liabilities | 10/49 | €92,781 | €158,202 | +€65,421 | +70.5% |
| Equity | 10/15 | €71,192 | €122,783 | +€51,591 | +72.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €68,000 | €120,000 | +€52,000 | +76.5% |
| Distributable reserves | 133 | €68,000 | €120,000 | +€52,000 | +76.5% |
| Profit (loss) carried forward | 14 | €692 | €283 | -€409 | -59.1% |
| Amounts payable | 17/49 | €21,590 | €35,420 | +€13,830 | +64.1% |
| Amounts payable within one year | 42/48 | €21,590 | €35,420 | +€13,830 | +64.1% |
| Trade debts | 44 | €726 | €1,528 | +€802 | +110.5% |
| Suppliers | 440/4 | €726 | €1,528 | +€802 | +110.5% |
| Taxes, remuneration and social security | 45 | €20,864 | €32,735 | +€11,872 | +56.9% |
| Taxes | 450/3 | €20,864 | €32,735 | +€11,872 | +56.9% |
| Other amounts payable | 47/48 | - | €1,156 | +€1,156 | |
| Turnover | 70 | €157,352 | €115,471 | -€41,881 | -26.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €69,979 | €49,198 | -€20,782 | -29.7% |
| Other operating charges | 640/8 | €226 | €129 | -€97 | -42.9% |
| Gross operating margin | 9900 | €87,373 | €66,274 | -€21,099 | -24.1% |
| Operating profit (loss) | 9901 | €87,147 | €66,145 | -€21,002 | -24.1% |
| Financial income | 75/76B | €39 | €0 | -€38 | -99.2% |
| Recurring financial income | 75 | €39 | €0 | -€38 | -99.2% |
| Financial charges | 65/66B | €130 | €182 | +€52 | +40.2% |
| Recurring financial charges | 65 | €130 | €182 | +€52 | +40.2% |
| Profit (loss) for the period before taxes | 9903 | €87,055 | €65,963 | -€21,093 | -24.2% |
| Income taxes | 67/77 | €18,364 | €14,372 | -€3,992 | -21.7% |
| Profit (loss) for the period | 9904 | €68,692 | €51,591 | -€17,101 | -24.9% |
| Profit (loss) for the period to be appropriated | 9905 | €68,692 | €51,591 | -€17,101 | -24.9% |
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 6 October 2026 via checked.be.