L.T.D.: 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.T.D.
Largest movements
- Deferred charges and accrued income -€2,572
down €2,572 (-28.1%), from €9,152 to €6,580
- Receivables within one year +€2,127
up €2,127 (+4.8%), from €44,725 to €46,852
of which Trade receivables: +€5,127
- Stocks and contracts -€1,666
down €1,666 (-3.9%), from €42,197 to €40,531
- Receivables after one year -€1,509
no longer reported in 2025 (was €1,509)
- Profit (loss) carried forward +€14,045
up €14,045 (+15.0%), from -€93,717 to -€79,672
- Debts after one year -€9,779
down €9,779 (-41.2%), from €23,754 to €13,975
- Reserves -€7,097
down €7,097 (-79.2%), from €8,956 to €1,859
of which Distributable reserves: -€7,097
- Tax, wage and social debts -€2,658
down €2,658 (-66.6%), from €3,988 to €1,330
of which Taxes: -€3,559
- Purchases and services -€76,547
down €76,547 (-41.4%), from €185,034 to €108,487
- Turnover -€55,634
down €55,634 (-31.6%), from €176,179 to €120,545
- Gross operating margin +€20,913
up €20,913, from -€8,855 to €12,058
- Taxes -€8,442
down €8,442 (-93.2%), from €9,055 to €613
- Financial charges -€3,193
down €3,193 (-50.0%), from €6,391 to €3,198
of which Financial charges: -€2,823
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 | €103,465 | €99,901 | -€3,564 | -3.4% |
| Fixed assets | 21/28 | €1,650 | €949 | -€701 | -42.5% |
| Tangible fixed assets | 22/27 | €1,102 | €401 | -€701 | -63.6% |
| Plant, machinery and equipment | 23 | €138 | - | -€138 | |
| Furniture and vehicles | 24 | €964 | €401 | -€563 | -58.4% |
| Financial fixed assets | 28 | €548 | €548 | = | 0.0% |
| Current assets | 29/58 | €101,815 | €98,952 | -€2,863 | -2.8% |
| Amounts receivable after more than one year | 29 | €1,509 | - | -€1,509 | |
| Trade receivables | 290 | €1,509 | - | -€1,509 | |
| Stocks and contracts in progress | 3 | €42,197 | €40,531 | -€1,666 | -3.9% |
| Stocks | 30/36 | €42,197 | €40,531 | -€1,666 | -3.9% |
| Amounts receivable within one year | 40/41 | €44,725 | €46,852 | +€2,127 | +4.8% |
| Trade receivables | 40 | €31,875 | €37,002 | +€5,127 | +16.1% |
| Other amounts receivable | 41 | €12,850 | €9,850 | -€3,000 | -23.3% |
| Cash at bank and in hand | 54/58 | €4,232 | €4,989 | +€757 | +17.9% |
| Deferred charges and accrued income | 490/1 | €9,152 | €6,580 | -€2,572 | -28.1% |
| Total equity and liabilities | 10/49 | €103,465 | €99,901 | -€3,564 | -3.4% |
| Equity | 10/15 | -€78,564 | -€70,616 | +€7,948 | +10.1% |
| Contributions | 10/11 | €6,197 | €7,197 | +€1,000 | +16.1% |
| Capital | 10 | €6,197 | €7,197 | +€1,000 | +16.1% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Uncalled capital | 101 | €12,395 | €11,395 | -€1,000 | -8.1% |
| Reserves | 13 | €8,956 | €1,859 | -€7,097 | -79.2% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €7,097 | - | -€7,097 | |
| Profit (loss) carried forward | 14 | -€93,717 | -€79,672 | +€14,045 | +15.0% |
| Amounts payable | 17/49 | €182,029 | €170,517 | -€11,512 | -6.3% |
| Amounts payable after more than one year | 17 | €23,754 | €13,975 | -€9,779 | -41.2% |
| Financial debts | 170/4 | €23,754 | €13,975 | -€9,779 | -41.2% |
| Amounts payable within one year | 42/48 | €158,275 | €156,542 | -€1,733 | -1.1% |
| Current portion of amounts payable after more than one year | 42 | €6,595 | €7,518 | +€923 | +14.0% |
| Trade debts | 44 | €130,263 | €129,266 | -€997 | -0.8% |
| Suppliers | 440/4 | €130,263 | €129,266 | -€997 | -0.8% |
| Taxes, remuneration and social security | 45 | €3,988 | €1,330 | -€2,658 | -66.6% |
| Taxes | 450/3 | €3,862 | €303 | -€3,559 | -92.2% |
| Remuneration and social security | 454/9 | €126 | €1,027 | +€901 | +715% |
| Other amounts payable | 47/48 | €17,429 | €18,428 | +€999 | +5.7% |
| Turnover | 70 | €176,179 | €120,545 | -€55,634 | -31.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €185,034 | €108,487 | -€76,547 | -41.4% |
| Remuneration, social security and pensions | 62 | €3,166 | €49 | -€3,117 | -98.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €770 | €701 | -€69 | -9.0% |
| Other operating charges | 640/8 | €1,096 | €295 | -€801 | -73.1% |
| Non-recurring operating charges | 66A | €2,477 | €508 | -€1,969 | -79.5% |
| Gross operating margin | 9900 | -€8,855 | €12,058 | +€20,913 | |
| Operating profit (loss) | 9901 | -€16,364 | €10,505 | +€26,869 | |
| Financial income | 75/76B | - | €254 | +€254 | |
| Recurring financial income | 75 | - | €254 | +€254 | |
| Financial charges | 65/66B | €6,391 | €3,198 | -€3,193 | -50.0% |
| Recurring financial charges | 65 | €6,021 | €3,198 | -€2,823 | -46.9% |
| Non-recurring financial charges | 66B | €370 | - | -€370 | |
| Profit (loss) for the period before taxes | 9903 | -€22,755 | €7,561 | +€30,316 | |
| Income taxes | 67/77 | €9,055 | €613 | -€8,442 | -93.2% |
| Profit (loss) for the period | 9904 | -€31,810 | €6,948 | +€38,758 | |
| Profit (loss) for the period to be appropriated | 9905 | -€31,810 | €6,948 | +€38,758 |
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.