LSM Consult: 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.
LSM Consult
Largest movements
- Cash +€77,573
up €77,573 (+88.9%), from €87,234 to €164,807
mainly Net result for the year (+€63,334) and Tax, wage and social debts (+€23,864)
- Deferred charges and accrued income +€17,612
up €17,612 (+527.7%), from €3,337 to €20,949
- Tangible fixed assets -€4,315
down €4,315 (-24.9%), from €17,316 to €13,001
of which Furniture and vehicles: -€2,222
- Receivables within one year -€3,012
down €3,012 (-14.5%), from €20,841 to €17,828
of which Other amounts receivable: -€3,374
- Reserves +€63,334
new in 2025: €63,334
- Tax, wage and social debts +€23,864
up €23,864 (+67.2%), from €35,487 to €59,351
- Other debts +€2,170
up €2,170 (+252.7%), from €859 to €3,029
- Gross operating margin -€18,380
down €18,380 (-16.5%), from €111,320 to €92,940
- Depreciation +€3,041
up €3,041 (+238.7%), from €1,274 to €4,315
- Taxes +€1,432
up €1,432 (+6.1%), from €23,634 to €25,066
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 | €128,728 | €216,586 | +€87,858 | +68.3% |
| Fixed assets | 21/28 | €17,316 | €13,001 | -€4,315 | -24.9% |
| Tangible fixed assets | 22/27 | €17,316 | €13,001 | -€4,315 | -24.9% |
| Furniture and vehicles | 24 | €7,219 | €4,997 | -€2,222 | -30.8% |
| Other tangible fixed assets | 26 | €10,098 | €8,005 | -€2,093 | -20.7% |
| Current assets | 29/58 | €111,412 | €203,585 | +€92,173 | +82.7% |
| Amounts receivable within one year | 40/41 | €20,841 | €17,828 | -€3,012 | -14.5% |
| Trade receivables | 40 | €17,467 | €17,828 | +€362 | +2.1% |
| Other amounts receivable | 41 | €3,374 | €0 | -€3,374 | -100.0% |
| Cash at bank and in hand | 54/58 | €87,234 | €164,807 | +€77,573 | +88.9% |
| Deferred charges and accrued income | 490/1 | €3,337 | €20,949 | +€17,612 | +527.7% |
| Total equity and liabilities | 10/49 | €128,728 | €216,586 | +€87,858 | +68.3% |
| Equity | 10/15 | €87,553 | €150,055 | +€62,501 | +71.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | - | €63,334 | +€63,334 | |
| Distributable reserves | 133 | - | €63,334 | +€63,334 | |
| Profit (loss) carried forward | 14 | €85,553 | €84,720 | -€833 | -1.0% |
| Amounts payable | 17/49 | €41,175 | €66,532 | +€25,357 | +61.6% |
| Amounts payable within one year | 42/48 | €41,175 | €66,532 | +€25,357 | +61.6% |
| Trade debts | 44 | €4,828 | €4,151 | -€677 | -14.0% |
| Suppliers | 440/4 | €4,828 | €4,151 | -€677 | -14.0% |
| Taxes, remuneration and social security | 45 | €35,487 | €59,351 | +€23,864 | +67.2% |
| Taxes | 450/3 | €35,487 | €59,351 | +€23,864 | +67.2% |
| Other amounts payable | 47/48 | €859 | €3,029 | +€2,170 | +252.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,274 | €4,315 | +€3,041 | +238.7% |
| Other operating charges | 640/8 | - | €200 | +€200 | |
| Gross operating margin | 9900 | €111,320 | €92,940 | -€18,380 | -16.5% |
| Operating profit (loss) | 9901 | €110,046 | €88,425 | -€21,621 | -19.6% |
| Financial income | 75/76B | - | €174 | +€174 | |
| Recurring financial income | 75 | - | €174 | +€174 | |
| Financial charges | 65/66B | - | €199 | +€199 | |
| Recurring financial charges | 65 | - | €199 | +€199 | |
| Profit (loss) for the period before taxes | 9903 | €110,046 | €88,400 | -€21,646 | -19.7% |
| Income taxes | 67/77 | €23,634 | €25,066 | +€1,432 | +6.1% |
| Profit (loss) for the period | 9904 | €86,412 | €63,334 | -€23,078 | -26.7% |
| Profit (loss) for the period to be appropriated | 9905 | €86,412 | €63,334 | -€23,078 | -26.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.