L.DW: 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.DW
Largest movements
- Current investments +€150,000
new in 2025: €150,000
- Cash -€46,513
down €46,513 (-32.9%), from €141,473 to €94,960
mainly Current investments (-€150,000) and Receivables after one year (-€8,245)
- Receivables after one year +€8,245
new in 2025: €8,245
- Receivables within one year -€5,180
no longer reported in 2025 (was €5,180)
- Reserves +€76,334
up €76,334 (+78.4%), from €97,381 to €173,714
- Tax, wage and social debts +€31,250
up €31,250 (+68.1%), from €45,879 to €77,128
- Purchases and services -€32,223
no longer reported in 2025 (was €32,223)
- Gross operating margin -€31,325
down €31,325 (-22.7%), from €137,777 to €106,453
- Taxes -€10,333
down €10,333 (-26.0%), from €39,804 to €29,471
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.
Cash bridge derived
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 | €146,653 | €253,206 | +€106,552 | +72.7% |
| Current assets | 29/58 | €146,653 | €253,206 | +€106,552 | +72.7% |
| Amounts receivable after more than one year | 29 | - | €8,245 | +€8,245 | |
| Other amounts receivable | 291 | - | €8,245 | +€8,245 | |
| Amounts receivable within one year | 40/41 | €5,180 | - | -€5,180 | |
| Other amounts receivable | 41 | €5,180 | - | -€5,180 | |
| Current investments | 50/53 | - | €150,000 | +€150,000 | |
| Cash at bank and in hand | 54/58 | €141,473 | €94,960 | -€46,513 | -32.9% |
| Total equity and liabilities | 10/49 | €146,653 | €253,206 | +€106,552 | +72.7% |
| Equity | 10/15 | €99,381 | €175,714 | +€76,334 | +76.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €97,381 | €173,714 | +€76,334 | +78.4% |
| Distributable reserves | 133 | €97,381 | €173,714 | +€76,334 | +78.4% |
| Amounts payable | 17/49 | €47,273 | €77,491 | +€30,219 | +63.9% |
| Amounts payable within one year | 42/48 | €47,273 | €77,491 | +€30,219 | +63.9% |
| Trade debts | 44 | €1,394 | €363 | -€1,031 | -74.0% |
| Suppliers | 440/4 | €1,394 | €363 | -€1,031 | -74.0% |
| Taxes, remuneration and social security | 45 | €45,879 | €77,128 | +€31,250 | +68.1% |
| Taxes | 450/3 | €45,879 | €77,128 | +€31,250 | +68.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €32,223 | - | -€32,223 | |
| Other operating charges | 640/8 | €540 | €607 | +€68 | +12.5% |
| Gross operating margin | 9900 | €137,777 | €106,453 | -€31,325 | -22.7% |
| Operating profit (loss) | 9901 | €137,237 | €105,845 | -€31,392 | -22.9% |
| Financial charges | 65/66B | €52 | €40 | -€12 | -22.4% |
| Recurring financial charges | 65 | €52 | €40 | -€12 | -22.4% |
| Profit (loss) for the period before taxes | 9903 | €137,185 | €105,805 | -€31,380 | -22.9% |
| Income taxes | 67/77 | €39,804 | €29,471 | -€10,333 | -26.0% |
| Profit (loss) for the period | 9904 | €97,381 | €76,334 | -€21,047 | -21.6% |
| Profit (loss) for the period to be appropriated | 9905 | €97,381 | €76,334 | -€21,047 | -21.6% |
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 10 October 2026 via checked.be.