LADCO: 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.
LADCO
Largest movements
- Receivables within one year -€32,695
down €32,695 (-75.3%), from €43,418 to €10,722
of which Trade receivables: -€18,752
- Tangible fixed assets +€30,344
up €30,344 (+160.0%), from €18,962 to €49,306
of which Furniture and vehicles: +€29,883
- Reserves -€14,800
down €14,800 (-30.8%), from €48,082 to €33,282
- Profit (loss) carried forward -€13,622
new in 2025: -€13,622
- Debts after one year +€10,918
up €10,918 (+164.4%), from €6,640 to €17,559
- Other debts +€8,711
new in 2025: €8,711
- Current portion of long-term debt +€6,695
up €6,695 (+77.7%), from €8,622 to €15,317
- Gross operating margin -€44,555
down €44,555, from €43,197 to -€1,357
- Taxes -€2,075
no longer reported in 2025 (was €2,075)
- Depreciation +€816
up €816 (+8.5%), from €9,609 to €10,425
- Other operating charges +€443
up €443 (+128.9%), from €343 to €786
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 | €77,169 | €73,920 | -€3,248 | -4.2% |
| Fixed assets | 21/28 | €19,082 | €49,426 | +€30,344 | +159.0% |
| Tangible fixed assets | 22/27 | €18,962 | €49,306 | +€30,344 | +160.0% |
| Plant, machinery and equipment | 23 | - | €460 | +€460 | |
| Furniture and vehicles | 24 | €18,962 | €48,846 | +€29,883 | +157.6% |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €58,086 | €24,494 | -€33,592 | -57.8% |
| Amounts receivable within one year | 40/41 | €43,418 | €10,722 | -€32,695 | -75.3% |
| Trade receivables | 40 | €22,802 | €4,050 | -€18,752 | -82.2% |
| Other amounts receivable | 41 | €20,616 | €6,672 | -€13,943 | -67.6% |
| Cash at bank and in hand | 54/58 | €12,786 | €12,097 | -€689 | -5.4% |
| Deferred charges and accrued income | 490/1 | €1,883 | €1,675 | -€208 | -11.1% |
| Total equity and liabilities | 10/49 | €77,169 | €73,920 | -€3,248 | -4.2% |
| Equity | 10/15 | €50,482 | €22,060 | -€28,422 | -56.3% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Reserves | 13 | €48,082 | €33,282 | -€14,800 | -30.8% |
| Distributable reserves | 133 | €48,082 | €33,282 | -€14,800 | -30.8% |
| Profit (loss) carried forward | 14 | - | -€13,622 | -€13,622 | |
| Amounts payable | 17/49 | €26,686 | €51,860 | +€25,173 | +94.3% |
| Amounts payable after more than one year | 17 | €6,640 | €17,559 | +€10,918 | +164.4% |
| Financial debts | 170/4 | €6,640 | €17,559 | +€10,918 | +164.4% |
| Amounts payable within one year | 42/48 | €20,046 | €33,071 | +€13,025 | +65.0% |
| Current portion of amounts payable after more than one year | 42 | €8,622 | €15,317 | +€6,695 | +77.7% |
| Trade debts | 44 | €8,865 | €4,662 | -€4,203 | -47.4% |
| Suppliers | 440/4 | €8,865 | €4,662 | -€4,203 | -47.4% |
| Taxes, remuneration and social security | 45 | €2,559 | €4,382 | +€1,823 | +71.2% |
| Taxes | 450/3 | €2,559 | €2,660 | +€101 | +3.9% |
| Remuneration and social security | 454/9 | - | €1,722 | +€1,722 | |
| Other amounts payable | 47/48 | - | €8,711 | +€8,711 | |
| Accrued charges and deferred income | 492/3 | - | €1,230 | +€1,230 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,609 | €10,425 | +€816 | +8.5% |
| Other operating charges | 640/8 | €343 | €786 | +€443 | +128.9% |
| Gross operating margin | 9900 | €43,197 | -€1,357 | -€44,555 | |
| Operating profit (loss) | 9901 | €33,245 | -€12,568 | -€45,813 | |
| Financial income | 75/76B | €332 | €62 | -€270 | -81.4% |
| Recurring financial income | 75 | €332 | €62 | -€270 | -81.4% |
| Financial charges | 65/66B | €781 | €1,116 | +€334 | +42.8% |
| Recurring financial charges | 65 | €781 | €1,116 | +€334 | +42.8% |
| Profit (loss) for the period before taxes | 9903 | €32,796 | -€13,622 | -€46,418 | |
| Income taxes | 67/77 | €2,075 | - | -€2,075 | |
| Profit (loss) for the period | 9904 | €30,721 | -€13,622 | -€44,343 | |
| Profit (loss) for the period to be appropriated | 9905 | €30,721 | -€13,622 | -€44,343 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.