L.D.R.: 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.R.
Largest movements
- Cash +€286,969
up €286,969 (+375%), from €76,492 to €363,460
mainly Current investments (+€200,000) and Net result for the year (+€140,218)
- Current investments -€200,000
down €200,000 (-100%), from €200,000 to €0
- Reserves +€140,211
up €140,211 (+98.5%), from €142,417 to €282,628
of which Distributable reserves: +€133,200
- Other debts -€51,594
down €51,594 (-33.3%), from €154,708 to €103,114
- Tax, wage and social debts +€12,825
up €12,825 (+102%), from €12,519 to €25,344
of which Taxes: +€11,225
- Gross operating margin +€203,469
up €203,469 (+957%), from €21,266 to €224,735
- Financial income -€59,727
down €59,727 (-94.4%), from €63,287 to €3,560
- Taxes +€52,058
up €52,058 (+11,032%), from €472 to €52,529
- Financial charges -€6,810
down €6,810 (-42.0%), from €16,196 to €9,386
- Other operating charges +€3,906
up €3,906 (+59.0%), from €6,617 to €10,523
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 | €954,183 | €1,046,884 | +€92,701 | +9.7% |
| Fixed assets | 21/28 | €662,206 | €661,149 | -€1,057 | -0.2% |
| Tangible fixed assets | 22/27 | €231,756 | €230,698 | -€1,057 | -0.5% |
| Land and buildings | 22 | €228,187 | €228,239 | +€51 | 0.0% |
| Furniture and vehicles | 24 | €3,568 | €2,460 | -€1,109 | -31.1% |
| Financial fixed assets | 28 | €430,451 | €430,451 | = | 0.0% |
| Current assets | 29/58 | €291,977 | €385,735 | +€93,758 | +32.1% |
| Amounts receivable within one year | 40/41 | €13,686 | €20,307 | +€6,621 | +48.4% |
| Trade receivables | 40 | €4,235 | €9,680 | +€5,445 | +129% |
| Other amounts receivable | 41 | €9,451 | €10,627 | +€1,176 | +12.4% |
| Current investments | 50/53 | €200,000 | €0 | -€200,000 | -100% |
| Cash at bank and in hand | 54/58 | €76,492 | €363,460 | +€286,969 | +375% |
| Deferred charges and accrued income | 490/1 | €1,800 | €1,968 | +€168 | +9.3% |
| Total equity and liabilities | 10/49 | €954,183 | €1,046,884 | +€92,701 | +9.7% |
| Equity | 10/15 | €725,334 | €865,553 | +€140,218 | +19.3% |
| Contributions | 10/11 | €471,000 | €471,000 | = | 0.0% |
| Capital | 10 | €471,000 | €471,000 | = | 0.0% |
| Issued capital | 100 | €471,000 | €471,000 | = | 0.0% |
| Reserves | 13 | €142,417 | €282,628 | +€140,211 | +98.5% |
| Non-distributable reserves | 130/1 | €14,370 | €21,381 | +€7,011 | +48.8% |
| Legal reserve | 130 | €14,370 | €21,381 | +€7,011 | +48.8% |
| Tax-exempt reserves | 132 | €128,047 | €128,047 | = | 0.0% |
| Distributable reserves | 133 | - | €133,200 | +€133,200 | |
| Profit (loss) carried forward | 14 | €111,917 | €111,924 | +€7 | 0.0% |
| Provisions and deferred taxes | 16 | €42,682 | €42,682 | = | 0.0% |
| Deferred taxes | 168 | €42,682 | €42,682 | = | 0.0% |
| Amounts payable | 17/49 | €186,167 | €138,649 | -€47,518 | -25.5% |
| Amounts payable within one year | 42/48 | €186,167 | €138,649 | -€47,518 | -25.5% |
| Financial debts | 43 | €16,042 | €9,357 | -€6,685 | -41.7% |
| Credit institutions | 430/8 | €16,042 | €9,357 | -€6,685 | -41.7% |
| Trade debts | 44 | €2,898 | €835 | -€2,063 | -71.2% |
| Suppliers | 440/4 | €2,898 | €835 | -€2,063 | -71.2% |
| Taxes, remuneration and social security | 45 | €12,519 | €25,344 | +€12,825 | +102% |
| Taxes | 450/3 | €12,519 | €23,744 | +€11,225 | +89.7% |
| Remuneration and social security | 454/9 | - | €1,600 | +€1,600 | |
| Other amounts payable | 47/48 | €154,708 | €103,114 | -€51,594 | -33.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,530 | €15,639 | +€2,109 | +15.6% |
| Other operating charges | 640/8 | €6,617 | €10,523 | +€3,906 | +59.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €21,266 | €224,735 | +€203,469 | +957% |
| Operating profit (loss) | 9901 | €1,119 | €198,574 | +€197,455 | +17,648% |
| Financial income | 75/76B | €63,287 | €3,560 | -€59,727 | -94.4% |
| Recurring financial income | 75 | €63,287 | €3,560 | -€59,727 | -94.4% |
| Financial charges | 65/66B | €16,196 | €9,386 | -€6,810 | -42.0% |
| Recurring financial charges | 65 | €16,196 | €9,386 | -€6,810 | -42.0% |
| Profit (loss) for the period before taxes | 9903 | €48,211 | €192,748 | +€144,537 | +300% |
| Income taxes | 67/77 | €472 | €52,529 | +€52,058 | +11,032% |
| Profit (loss) for the period | 9904 | €47,739 | €140,218 | +€92,480 | +194% |
| Profit (loss) for the period to be appropriated | 9905 | €47,739 | €140,218 | +€92,480 | +194% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.