Ets. LEDUC: 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.
Ets. LEDUC
Largest movements
- Receivables within one year -€195,301
down €195,301 (-55.2%), from €353,687 to €158,386
of which Trade receivables: -€176,522
- Cash +€50,873
up €50,873 (+4686.2%), from €1,086 to €51,959
mainly Receivables within one year (+€195,301) and Debts after one year (+€120,673)
- Tangible fixed assets -€30,024
down €30,024 (-17.0%), from €176,869 to €146,845
of which Plant, machinery and equipment: -€22,656
- Stocks and contracts +€16,277
up €16,277 (+8.3%), from €196,521 to €212,798
- Trade debts -€176,533
down €176,533 (-85.0%), from €207,571 to €31,038
- Short-term financial debts -€149,111
down €149,111 (-64.7%), from €230,370 to €81,259
- Debts after one year +€120,673
up €120,673 (+814.1%), from €14,824 to €135,497
- Tax, wage and social debts +€42,029
up €42,029 (+50.3%), from €83,541 to €125,570
of which Remuneration and social security: +€40,074
- Profit (loss) carried forward +€13,641
up €13,641 (+9.9%), from -€138,111 to -€124,470
- Gross operating margin +€124,323
up €124,323 (+29.6%), from €419,918 to €544,242
- Staff costs +€32,966
up €32,966 (+7.8%), from €422,287 to €455,254
- Depreciation -€11,213
down €11,213 (-27.2%), from €41,236 to €30,024
- Financial charges -€5,801
down €5,801 (-16.5%), from €35,065 to €29,263
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €735,837 | €578,575 | -€157,262 | -21.4% |
| Fixed assets | 21/28 | €179,148 | €149,125 | -€30,024 | -16.8% |
| Tangible fixed assets | 22/27 | €176,869 | €146,845 | -€30,024 | -17.0% |
| Land and buildings | 22 | €109,577 | €103,002 | -€6,574 | -6.0% |
| Plant, machinery and equipment | 23 | €66,017 | €43,361 | -€22,656 | -34.3% |
| Furniture and vehicles | 24 | €1,275 | €482 | -€793 | -62.2% |
| Financial fixed assets | 28 | €2,279 | €2,279 | = | 0.0% |
| Current assets | 29/58 | €556,689 | €429,450 | -€127,238 | -22.9% |
| Stocks and contracts in progress | 3 | €196,521 | €212,798 | +€16,277 | +8.3% |
| Stocks | 30/36 | €196,521 | €212,798 | +€16,277 | +8.3% |
| Amounts receivable within one year | 40/41 | €353,687 | €158,386 | -€195,301 | -55.2% |
| Trade receivables | 40 | €314,846 | €138,325 | -€176,522 | -56.1% |
| Other amounts receivable | 41 | €38,841 | €20,061 | -€18,780 | -48.4% |
| Cash at bank and in hand | 54/58 | €1,086 | €51,959 | +€50,873 | +4686.2% |
| Deferred charges and accrued income | 490/1 | €5,395 | €6,308 | +€913 | +16.9% |
| Total equity and liabilities | 10/49 | €735,837 | €578,575 | -€157,262 | -21.4% |
| Equity | 10/15 | €168,238 | €181,639 | +€13,401 | +8.0% |
| Contributions | 10/11 | €62,370 | €62,370 | = | 0.0% |
| Capital | 10 | €62,370 | €62,370 | = | 0.0% |
| Issued capital | 100 | €62,370 | €62,370 | = | 0.0% |
| Revaluation surpluses | 12 | €235,268 | €235,268 | = | 0.0% |
| Reserves | 13 | €5,910 | €5,910 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,910 | €5,910 | = | 0.0% |
| Legal reserve | 130 | €5,910 | €5,910 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€138,111 | -€124,470 | +€13,641 | +9.9% |
| Investment grants | 15 | €2,801 | €2,561 | -€240 | -8.6% |
| Provisions and deferred taxes | 16 | €1,442 | €1,319 | -€124 | -8.6% |
| Deferred taxes | 168 | €1,442 | €1,319 | -€124 | -8.6% |
| Amounts payable | 17/49 | €566,157 | €395,617 | -€170,540 | -30.1% |
| Amounts payable after more than one year | 17 | €14,824 | €135,497 | +€120,673 | +814.1% |
| Financial debts | 170/4 | €14,824 | €135,497 | +€120,673 | +814.1% |
| Amounts payable within one year | 42/48 | €548,423 | €257,378 | -€291,044 | -53.1% |
| Current portion of amounts payable after more than one year | 42 | €26,941 | €19,511 | -€7,430 | -27.6% |
| Financial debts | 43 | €230,370 | €81,259 | -€149,111 | -64.7% |
| Credit institutions | 430/8 | €230,370 | €81,259 | -€149,111 | -64.7% |
| Trade debts | 44 | €207,571 | €31,038 | -€176,533 | -85.0% |
| Suppliers | 440/4 | €207,571 | €31,038 | -€176,533 | -85.0% |
| Taxes, remuneration and social security | 45 | €83,541 | €125,570 | +€42,029 | +50.3% |
| Taxes | 450/3 | €424 | €2,379 | +€1,955 | +460.6% |
| Remuneration and social security | 454/9 | €83,116 | €123,191 | +€40,074 | +48.2% |
| Accrued charges and deferred income | 492/3 | €2,911 | €2,742 | -€168 | -5.8% |
| Remuneration, social security and pensions | 62 | €422,287 | €455,254 | +€32,966 | +7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,236 | €30,024 | -€11,213 | -27.2% |
| Other operating charges | 640/8 | €13,090 | €17,216 | +€4,126 | +31.5% |
| Non-recurring operating charges | 66A | €942 | €1,778 | +€836 | +88.7% |
| Gross operating margin | 9900 | €419,918 | €544,242 | +€124,323 | +29.6% |
| Operating profit (loss) | 9901 | -€57,637 | €39,971 | +€97,608 | |
| Financial income | 75/76B | €760 | €3,090 | +€2,330 | +306.8% |
| Recurring financial income | 75 | €240 | €795 | +€555 | +231.2% |
| Non-recurring financial income | 76B | €519 | €2,294 | +€1,775 | +341.7% |
| Financial charges | 65/66B | €35,065 | €29,263 | -€5,801 | -16.5% |
| Recurring financial charges | 65 | €35,065 | €29,263 | -€5,801 | -16.5% |
| Profit (loss) for the period before taxes | 9903 | -€91,942 | €13,797 | +€105,739 | |
| Transfer from deferred taxes | 780 | €124 | €124 | = | 0.0% |
| Income taxes | 67/77 | €209 | €279 | +€70 | +33.4% |
| Profit (loss) for the period | 9904 | -€92,028 | €13,641 | +€105,669 | |
| Profit (loss) for the period to be appropriated | 9905 | -€92,028 | €13,641 | +€105,669 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.