CASTEL LUDO: what changed
What changed
CASTEL LUDO
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
filed annual accounts (NBB)
Net result for the year
-€326,754
2024 · -€324,869-€1,885
Equity
-€949,084
2024 · -€622,330-€326,754
Cash
€19,376
2024 · €8,356+€11,020
Balance sheet total
€3.7m
2024 · €4.7m-€1.0m
Largest movements
Assets
- Receivables within one year -€849,304
down €849,304 (-87.1%), from €975,088 to €125,783
of which Trade receivables: -€865,860
- Tangible fixed assets -€207,759
down €207,759 (-5.5%), from €3.8m to €3.5m
of which Land and buildings: -€172,830
Equity and liabilities
- Trade debts -€882,779
down €882,779 (-99.2%), from €890,052 to €7,273
- Profit (loss) carried forward -€326,754
down €326,754 (-45.0%), from -€725,369 to -€1.1m
- Other debts +€276,456
up €276,456 (+18.9%), from €1.5m to €1.7m
- Advances received -€117,000
down €117,000 (-78.0%), from €150,000 to €33,000
Income statement
- Gross operating margin +€49,510
up €49,510 (+95.1%), from €52,079 to €101,589
- Depreciation +€38,806
up €38,806 (+12.6%), from €308,316 to €347,122
- Financial charges +€11,715
up €11,715 (+21.5%), from €54,470 to €66,185
- Other operating charges +€1,131
up €1,131 (+8.1%), from €13,905 to €15,036
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.
Result 2024
-€324,869
Gross operating margin
+€49,510
Depreciation
-€38,806
Other operating charges
-€1,131
Other operating items
+€257
Financial income
+€0
Financial charges
-€11,715
Result 2025
-€326,754
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€145,552
Investment
-€139,363
Financing
+€4,832
Cash 2024
€8,356
From operations (derived)
+€145,552
Net result for the year
-€326,754
Depreciation
+€347,122
Receivables within one year
+€849,304
Smaller working-capital items
-€798
Trade debts
-€882,779
Advances received
-€117,000
Other debts
+€276,456
Investment (derived)
-€139,363
Investment in fixed assets (net)
-€139,363
Financing
+€4,832
Debts after one year
-€19,391
Current portion of long-term debt
+€22,349
Short-term financial debts
+€1,874
Cash 2025
€19,376
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,735,394 | €3,689,399 | -€1.0m | -22.1% |
| Fixed assets | 21/28 | €3,751,738 | €3,543,979 | -€207,759 | -5.5% |
| Tangible fixed assets | 22/27 | €3,751,738 | €3,543,979 | -€207,759 | -5.5% |
| Land and buildings | 22 | €3,458,759 | €3,285,929 | -€172,830 | -5.0% |
| Furniture and vehicles | 24 | €12,283 | €8,976 | -€3,307 | -26.9% |
| Other tangible fixed assets | 26 | €280,696 | €249,074 | -€31,622 | -11.3% |
| Current assets | 29/58 | €983,655 | €145,420 | -€838,236 | -85.2% |
| Amounts receivable within one year | 40/41 | €975,088 | €125,783 | -€849,304 | -87.1% |
| Trade receivables | 40 | €975,083 | €109,222 | -€865,860 | -88.8% |
| Other amounts receivable | 41 | €5 | €16,561 | +€16,556 | +328,492% |
| Cash at bank and in hand | 54/58 | €8,356 | €19,376 | +€11,020 | +132% |
| Deferred charges and accrued income | 490/1 | €212 | €260 | +€48 | +22.7% |
| Total equity and liabilities | 10/49 | €4,735,394 | €3,689,399 | -€1.0m | -22.1% |
| Equity | 10/15 | -€622,330 | -€949,084 | -€326,754 | -52.5% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €28,039 | €28,039 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €20,539 | €20,539 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€725,369 | -€1,052,123 | -€326,754 | -45.0% |
| Amounts payable | 17/49 | €5,357,723 | €4,638,483 | -€719,240 | -13.4% |
| Amounts payable after more than one year | 17 | €2,689,560 | €2,670,169 | -€19,391 | -0.7% |
| Financial debts | 170/4 | €2,684,617 | €2,665,226 | -€19,391 | -0.7% |
| Other amounts payable | 178/9 | €4,943 | €4,943 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,668,163 | €1,967,164 | -€700,999 | -26.3% |
| Current portion of amounts payable after more than one year | 42 | €152,658 | €175,007 | +€22,349 | +14.6% |
| Financial debts | 43 | €13,000 | €14,874 | +€1,874 | +14.4% |
| Credit institutions | 430/8 | €13,000 | €14,874 | +€1,874 | +14.4% |
| Trade debts | 44 | €890,052 | €7,273 | -€882,779 | -99.2% |
| Suppliers | 440/4 | €890,052 | €7,273 | -€882,779 | -99.2% |
| Advances received on contracts in progress | 46 | €150,000 | €33,000 | -€117,000 | -78.0% |
| Taxes, remuneration and social security | 45 | €1,899 | €0 | -€1,899 | -100% |
| Taxes | 450/3 | €1,899 | €0 | -€1,899 | -100% |
| Other amounts payable | 47/48 | €1,460,554 | €1,737,010 | +€276,456 | +18.9% |
| Accrued charges and deferred income | 492/3 | - | €1,150 | +€1,150 | |
| Non-recurring operating income | 76A | - | €7,917 | +€7,917 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €308,316 | €347,122 | +€38,806 | +12.6% |
| Other operating charges | 640/8 | €13,905 | €15,036 | +€1,131 | +8.1% |
| Non-recurring operating charges | 66A | €257 | €0 | -€257 | -100% |
| Gross operating margin | 9900 | €52,079 | €101,589 | +€49,510 | +95.1% |
| Operating profit (loss) | 9901 | -€270,399 | -€260,570 | +€9,830 | +3.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €54,470 | €66,185 | +€11,715 | +21.5% |
| Recurring financial charges | 65 | €54,470 | €66,185 | +€11,715 | +21.5% |
| Profit (loss) for the period before taxes | 9903 | -€324,869 | -€326,754 | -€1,885 | -0.6% |
| Profit (loss) for the period | 9904 | -€324,869 | -€326,754 | -€1,885 | -0.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€324,869 | -€326,754 | -€1,885 | -0.6% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
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 6 November 2026 via checked.be.