DE SUTTER LUDO: what changed
What changed
DE SUTTER LUDO
NACE 43.120, Site preparation
filed annual accounts (NBB)
Net result for the year
-€34,403
2024 · -€79,785+€45,383
Equity
€466,529
2024 · €500,932-€34,403
Cash
€90,270
2024 · €49,554+€40,715
Balance sheet total
€671,144
2024 · €763,240-€92,096
Largest movements
Assets
- Receivables within one year -€109,144
down €109,144 (-47.7%), from €228,776 to €119,632
of which Trade receivables: -€100,363
- Cash +€40,715
up €40,715 (+82.2%), from €49,554 to €90,270
mainly Receivables within one year (+€109,144) and Depreciation (+€31,200)
- Tangible fixed assets -€25,213
down €25,213 (-5.3%), from €471,464 to €446,251
of which Land and buildings: -€17,109
Equity and liabilities
- Debts after one year -€44,241
down €44,241 (-25.5%), from €173,376 to €129,135
- Reserves -€34,403
down €34,403 (-7.2%), from €480,932 to €446,529
- Other debts -€16,069
down €16,069 (-50.1%), from €32,065 to €15,997
Income statement
- Gross operating margin +€31,022
up €31,022 (+810%), from €3,829 to €34,850
- Depreciation -€7,111
down €7,111 (-18.6%), from €38,311 to €31,200
- Other operating charges -€5,305
down €5,305 (-16.5%), from €32,058 to €26,753
- Financial charges -€1,741
down €1,741 (-13.3%), from €13,074 to €11,333
- Staff costs -€605
down €605 (-100%), from €605 to €0
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
-€79,785
Gross operating margin
+€31,022
Staff costs
+€605
Depreciation
+€7,111
Other operating charges
+€5,305
Other operating items
-€309
Financial income
-€95
Financial charges
+€1,741
Taxes
+€3
Result 2025
-€34,403
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
+€88,989
Investment
-€6,025
Financing
-€42,248
Cash 2024
€49,554
From operations (derived)
+€88,989
Net result for the year
-€34,403
Depreciation
+€31,200
Receivables within one year
+€109,144
Deferred charges and accrued income
-€1,507
Trade debts
+€4,493
Tax, wage and social debts
-€1,305
Other debts
-€16,069
Accrued charges and deferred income
-€2,565
Investment (derived)
-€6,025
Investment in fixed assets (net)
-€5,986
Current investments
-€39
Financing
-€42,248
Debts after one year
-€44,241
Current portion of long-term debt
+€1,993
Cash 2025
€90,270
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €763,240 | €671,144 | -€92,096 | -12.1% |
| Fixed assets | 21/28 | €471,464 | €446,251 | -€25,213 | -5.3% |
| Tangible fixed assets | 22/27 | €471,464 | €446,251 | -€25,213 | -5.3% |
| Land and buildings | 22 | €429,868 | €412,759 | -€17,109 | -4.0% |
| Plant, machinery and equipment | 23 | €32,743 | €29,573 | -€3,171 | -9.7% |
| Furniture and vehicles | 24 | €8,853 | €3,919 | -€4,934 | -55.7% |
| Current assets | 29/58 | €291,775 | €224,893 | -€66,883 | -22.9% |
| Amounts receivable within one year | 40/41 | €228,776 | €119,632 | -€109,144 | -47.7% |
| Trade receivables | 40 | €215,458 | €115,095 | -€100,363 | -46.6% |
| Other amounts receivable | 41 | €13,318 | €4,537 | -€8,781 | -65.9% |
| Current investments | 50/53 | €10,560 | €10,600 | +€39 | +0.4% |
| Cash at bank and in hand | 54/58 | €49,554 | €90,270 | +€40,715 | +82.2% |
| Deferred charges and accrued income | 490/1 | €2,884 | €4,391 | +€1,507 | +52.3% |
| Total equity and liabilities | 10/49 | €763,240 | €671,144 | -€92,096 | -12.1% |
| Equity | 10/15 | €500,932 | €466,529 | -€34,403 | -6.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €480,932 | €446,529 | -€34,403 | -7.2% |
| Distributable reserves | 133 | €480,932 | €446,529 | -€34,403 | -7.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €262,308 | €204,614 | -€57,693 | -22.0% |
| Amounts payable after more than one year | 17 | €173,376 | €129,135 | -€44,241 | -25.5% |
| Financial debts | 170/4 | €173,376 | €129,135 | -€44,241 | -25.5% |
| Amounts payable within one year | 42/48 | €85,552 | €74,665 | -€10,887 | -12.7% |
| Current portion of amounts payable after more than one year | 42 | €42,248 | €44,241 | +€1,993 | +4.7% |
| Trade debts | 44 | €6,526 | €11,019 | +€4,493 | +68.8% |
| Suppliers | 440/4 | €6,526 | €11,019 | +€4,493 | +68.8% |
| Taxes, remuneration and social security | 45 | €4,713 | €3,408 | -€1,305 | -27.7% |
| Taxes | 450/3 | €0 | - | = | |
| Remuneration and social security | 454/9 | €4,713 | €3,408 | -€1,305 | -27.7% |
| Other amounts payable | 47/48 | €32,065 | €15,997 | -€16,069 | -50.1% |
| Accrued charges and deferred income | 492/3 | €3,380 | €815 | -€2,565 | -75.9% |
| Non-recurring operating income | 76A | €4,950 | €23,500 | +€18,550 | +375% |
| Remuneration, social security and pensions | 62 | €605 | €0 | -€605 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,311 | €31,200 | -€7,111 | -18.6% |
| Other operating charges | 640/8 | €32,058 | €26,753 | -€5,305 | -16.5% |
| Non-recurring operating charges | 66A | €0 | €309 | +€309 | |
| Gross operating margin | 9900 | €3,829 | €34,850 | +€31,022 | +810% |
| Operating profit (loss) | 9901 | -€67,144 | -€23,411 | +€43,734 | +65.1% |
| Financial income | 75/76B | €453 | €358 | -€95 | -21.0% |
| Recurring financial income | 75 | €453 | €358 | -€95 | -21.0% |
| Financial charges | 65/66B | €13,074 | €11,333 | -€1,741 | -13.3% |
| Recurring financial charges | 65 | €13,074 | €11,333 | -€1,741 | -13.3% |
| Profit (loss) for the period before taxes | 9903 | -€79,765 | -€34,386 | +€45,380 | +56.9% |
| Income taxes | 67/77 | €20 | €17 | -€3 | -15.0% |
| Profit (loss) for the period | 9904 | -€79,785 | -€34,403 | +€45,383 | +56.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€79,785 | -€34,403 | +€45,383 | +56.9% |
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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 4 November 2026 via checked.be.