BALCAEN LUDOVIC: 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.
BALCAEN LUDOVIC
Largest movements
- Cash +€42,604
up €42,604 (+81.3%), from €52,379 to €94,983
mainly Other debts (+€40,633) and Depreciation (+€34,662)
- Receivables after one year -€10,000
down €10,000 (-14.3%), from €70,000 to €60,000
- Tangible fixed assets +€4,253
up €4,253 (+4.2%), from €100,752 to €105,005
of which Furniture and vehicles: +€14,529
- Other debts +€40,633
up €40,633 (+214%), from €18,996 to €59,629
- Reserves -€33,486
down €33,486 (-26.7%), from €125,532 to €92,045
of which Distributable reserves: -€33,108
- Debts after one year +€11,262
up €11,262 (+16.3%), from €69,249 to €80,511
- Trade debts +€10,715
up €10,715 (+4,409%), from €243 to €10,958
- Current portion of long-term debt +€2,853
up €2,853 (+22.2%), from €12,834 to €15,688
- Depreciation +€6,946
up €6,946 (+25.1%), from €27,715 to €34,662
- Gross operating margin +€5,628
up €5,628 (+8.3%), from €67,970 to €73,598
- Financial charges +€1,194
up €1,194 (+41.5%), from €2,880 to €4,075
- Taxes -€1,134
down €1,134 (-9.1%), from €12,397 to €11,263
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 | €250,725 | €283,281 | +€32,556 | +13.0% |
| Fixed assets | 21/28 | €100,752 | €105,005 | +€4,253 | +4.2% |
| Tangible fixed assets | 22/27 | €100,752 | €105,005 | +€4,253 | +4.2% |
| Land and buildings | 22 | €61,300 | €53,718 | -€7,581 | -12.4% |
| Plant, machinery and equipment | 23 | €10,765 | €8,070 | -€2,695 | -25.0% |
| Furniture and vehicles | 24 | €28,687 | €43,216 | +€14,529 | +50.6% |
| Current assets | 29/58 | €149,973 | €178,276 | +€28,303 | +18.9% |
| Amounts receivable after more than one year | 29 | €70,000 | €60,000 | -€10,000 | -14.3% |
| Other amounts receivable | 291 | €70,000 | €60,000 | -€10,000 | -14.3% |
| Stocks and contracts in progress | 3 | €3,280 | €2,072 | -€1,207 | -36.8% |
| Stocks | 30/36 | €3,280 | €2,072 | -€1,207 | -36.8% |
| Amounts receivable within one year | 40/41 | €19,920 | €18,570 | -€1,350 | -6.8% |
| Trade receivables | 40 | €14,444 | €14,046 | -€398 | -2.8% |
| Other amounts receivable | 41 | €5,476 | €4,524 | -€952 | -17.4% |
| Cash at bank and in hand | 54/58 | €52,379 | €94,983 | +€42,604 | +81.3% |
| Deferred charges and accrued income | 490/1 | €4,394 | €2,650 | -€1,744 | -39.7% |
| Total equity and liabilities | 10/49 | €250,725 | €283,281 | +€32,556 | +13.0% |
| Equity | 10/15 | €144,132 | €110,645 | -€33,486 | -23.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €125,532 | €92,045 | -€33,486 | -26.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €5,293 | €4,915 | -€378 | -7.1% |
| Distributable reserves | 133 | €120,238 | €87,130 | -€33,108 | -27.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €1,357 | €1,260 | -€97 | -7.1% |
| Deferred taxes | 168 | €1,357 | €1,260 | -€97 | -7.1% |
| Amounts payable | 17/49 | €105,237 | €171,376 | +€66,139 | +62.8% |
| Amounts payable after more than one year | 17 | €69,249 | €80,511 | +€11,262 | +16.3% |
| Financial debts | 170/4 | €69,249 | €80,511 | +€11,262 | +16.3% |
| Amounts payable within one year | 42/48 | €35,023 | €89,434 | +€54,411 | +155% |
| Current portion of amounts payable after more than one year | 42 | €12,834 | €15,688 | +€2,853 | +22.2% |
| Trade debts | 44 | €243 | €10,958 | +€10,715 | +4,409% |
| Suppliers | 440/4 | €243 | €10,958 | +€10,715 | +4,409% |
| Taxes, remuneration and social security | 45 | €2,950 | €3,160 | +€210 | +7.1% |
| Taxes | 450/3 | €1,290 | €1,500 | +€210 | +16.3% |
| Remuneration and social security | 454/9 | €1,660 | €1,660 | = | 0.0% |
| Other amounts payable | 47/48 | €18,996 | €59,629 | +€40,633 | +214% |
| Accrued charges and deferred income | 492/3 | €965 | €1,431 | +€466 | +48.4% |
| Non-recurring operating income | 76A | €1,425 | €12,000 | +€10,575 | +742% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,715 | €34,662 | +€6,946 | +25.1% |
| Other operating charges | 640/8 | €2,171 | €1,650 | -€521 | -24.0% |
| Gross operating margin | 9900 | €67,970 | €73,598 | +€5,628 | +8.3% |
| Operating profit (loss) | 9901 | €38,085 | €37,287 | -€798 | -2.1% |
| Financial income | 75/76B | €1,700 | €1,711 | +€11 | +0.6% |
| Recurring financial income | 75 | €1,700 | €1,711 | +€11 | +0.6% |
| Financial charges | 65/66B | €2,880 | €4,075 | +€1,194 | +41.5% |
| Recurring financial charges | 65 | €2,880 | €4,075 | +€1,194 | +41.5% |
| Profit (loss) for the period before taxes | 9903 | €36,904 | €34,923 | -€1,981 | -5.4% |
| Transfer from deferred taxes | 780 | €97 | €97 | = | 0.0% |
| Income taxes | 67/77 | €12,397 | €11,263 | -€1,134 | -9.1% |
| Profit (loss) for the period | 9904 | €24,604 | €23,757 | -€847 | -3.4% |
| Transfer from tax-exempt reserves | 789 | €378 | €378 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €24,983 | €24,135 | -€847 | -3.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.