L.D.P.: 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.
L.D.P.
Largest movements
- Tangible fixed assets +€530,873
up €530,873 (+79.5%), from €667,975 to €1.2m
of which Land and buildings: +€410,834
- Cash -€89,384
down €89,384 (-64.4%), from €138,830 to €49,445
mainly Investment in fixed assets (net) (-€646,183) and Accrued charges and deferred income (-€90,019)
- Receivables within one year -€19,228
down €19,228 (-98.5%), from €19,527 to €299
of which Trade receivables: -€19,500
- Debts after one year +€404,167
new in 2025: €404,167
- Other debts +€93,335
up €93,335 (+456%), from €20,475 to €113,811
- Accrued charges and deferred income -€90,019
no longer reported in 2025 (was €90,019)
- Current portion of long-term debt +€48,611
up €48,611 (+884%), from €5,502 to €54,113
- Profit (loss) carried forward -€23,386
down €23,386 (-20.4%), from -€114,559 to -€137,945
- Depreciation -€177,878
down €177,878 (-60.7%), from €293,188 to €115,310
- Gross operating margin -€101,091
down €101,091 (-45.8%), from €220,523 to €119,432
- Financial charges +€12,592
up €12,592 (+704%), from €1,788 to €14,381
- Taxes +€8,250
up €8,250, from -€8,137 to €112
- Other operating charges -€6,347
down €6,347 (-31.6%), from €20,118 to €13,770
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 | €957,843 | €1,392,104 | +€434,261 | +45.3% |
| Fixed assets | 21/28 | €667,975 | €1,198,848 | +€530,873 | +79.5% |
| Tangible fixed assets | 22/27 | €667,975 | €1,198,848 | +€530,873 | +79.5% |
| Land and buildings | 22 | €616,098 | €1,026,933 | +€410,834 | +66.7% |
| Plant, machinery and equipment | 23 | €31,833 | €109,733 | +€77,900 | +245% |
| Furniture and vehicles | 24 | €20,044 | €62,182 | +€42,139 | +210% |
| Current assets | 29/58 | €289,868 | €193,255 | -€96,612 | -33.3% |
| Amounts receivable within one year | 40/41 | €19,527 | €299 | -€19,228 | -98.5% |
| Trade receivables | 40 | €19,500 | - | -€19,500 | |
| Other amounts receivable | 41 | €27 | €299 | +€272 | +1,007% |
| Cash at bank and in hand | 54/58 | €138,830 | €49,445 | -€89,384 | -64.4% |
| Deferred charges and accrued income | 490/1 | €131,511 | €143,511 | +€12,000 | +9.1% |
| Total equity and liabilities | 10/49 | €957,843 | €1,392,104 | +€434,261 | +45.3% |
| Equity | 10/15 | €837,838 | €814,452 | -€23,386 | -2.8% |
| Contributions | 10/11 | €6,208 | €6,208 | = | 0.0% |
| Contributions outside capital | 11 | €6,208 | €6,208 | = | 0.0% |
| Other | 1109/19 | €6,208 | €6,208 | = | 0.0% |
| Reserves | 13 | €946,190 | €946,190 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €944,330 | €944,330 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€114,559 | -€137,945 | -€23,386 | -20.4% |
| Amounts payable | 17/49 | €120,004 | €577,651 | +€457,647 | +381% |
| Amounts payable after more than one year | 17 | - | €404,167 | +€404,167 | |
| Financial debts | 170/4 | - | €404,167 | +€404,167 | |
| Amounts payable within one year | 42/48 | €29,986 | €173,484 | +€143,499 | +479% |
| Current portion of amounts payable after more than one year | 42 | €5,502 | €54,113 | +€48,611 | +884% |
| Trade debts | 44 | €3,801 | €1,564 | -€2,237 | -58.8% |
| Suppliers | 440/4 | €3,801 | €1,564 | -€2,237 | -58.8% |
| Taxes, remuneration and social security | 45 | €207 | €3,996 | +€3,789 | +1,826% |
| Taxes | 450/3 | €207 | €3,996 | +€3,789 | +1,826% |
| Other amounts payable | 47/48 | €20,475 | €113,811 | +€93,335 | +456% |
| Accrued charges and deferred income | 492/3 | €90,019 | - | -€90,019 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €293,188 | €115,310 | -€177,878 | -60.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,100 | - | -€2,100 | |
| Other operating charges | 640/8 | €20,118 | €13,770 | -€6,347 | -31.6% |
| Gross operating margin | 9900 | €220,523 | €119,432 | -€101,091 | -45.8% |
| Operating profit (loss) | 9901 | -€94,883 | -€9,648 | +€85,235 | +89.8% |
| Financial income | 75/76B | €1,002 | €756 | -€247 | -24.6% |
| Recurring financial income | 75 | €1,002 | €756 | -€247 | -24.6% |
| Financial charges | 65/66B | €1,788 | €14,381 | +€12,592 | +704% |
| Recurring financial charges | 65 | €1,788 | €14,381 | +€12,592 | +704% |
| Profit (loss) for the period before taxes | 9903 | -€95,669 | -€23,274 | +€72,395 | +75.7% |
| Income taxes | 67/77 | -€8,137 | €112 | +€8,250 | |
| Profit (loss) for the period | 9904 | -€87,531 | -€23,386 | +€64,145 | +73.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€87,531 | -€23,386 | +€64,145 | +73.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.