LADCO: 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.
LADCO
Largest movements
- Cash +€51,066
up €51,066 (+10.1%), from €506,894 to €557,960
mainly Net result for the year (+€191,586) and Depreciation (+€11,130)
- Tangible fixed assets +€34,965
up €34,965 (+9.4%), from €373,180 to €408,145
of which Land and buildings: +€34,063
- Reserves +€191,586
up €191,586 (+51.1%), from €375,110 to €566,696
- Tax, wage and social debts -€55,450
down €55,450 (-36.5%), from €151,871 to €96,421
- Debts after one year -€47,550
down €47,550 (-17.4%), from €273,231 to €225,681
- Financial income +€6,033
up €6,033 (+1728.7%), from €349 to €6,382
- Gross operating margin -€4,274
down €4,274 (-1.4%), from €301,516 to €297,242
- Depreciation +€4,221
up €4,221 (+61.1%), from €6,909 to €11,130
- Taxes +€4,028
up €4,028 (+5.1%), from €78,790 to €82,818
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 | €880,743 | €967,379 | +€86,636 | +9.8% |
| Formation expenses | 20 | €595 | €372 | -€223 | -37.5% |
| Fixed assets | 21/28 | €373,180 | €408,145 | +€34,965 | +9.4% |
| Tangible fixed assets | 22/27 | €373,180 | €408,145 | +€34,965 | +9.4% |
| Land and buildings | 22 | €373,180 | €407,243 | +€34,063 | +9.1% |
| Furniture and vehicles | 24 | - | €902 | +€902 | |
| Current assets | 29/58 | €506,968 | €558,862 | +€51,894 | +10.2% |
| Amounts receivable within one year | 40/41 | €74 | - | -€74 | |
| Other amounts receivable | 41 | €74 | - | -€74 | |
| Cash at bank and in hand | 54/58 | €506,894 | €557,960 | +€51,066 | +10.1% |
| Deferred charges and accrued income | 490/1 | €0 | €902 | +€902 | |
| Total equity and liabilities | 10/49 | €880,743 | €967,379 | +€86,636 | +9.8% |
| Equity | 10/15 | €405,110 | €596,696 | +€191,586 | +47.3% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €375,110 | €566,696 | +€191,586 | +51.1% |
| Distributable reserves | 133 | €375,110 | €566,696 | +€191,586 | +51.1% |
| Amounts payable | 17/49 | €475,633 | €370,683 | -€104,950 | -22.1% |
| Amounts payable after more than one year | 17 | €273,231 | €225,681 | -€47,550 | -17.4% |
| Financial debts | 170/4 | €273,231 | €225,681 | -€47,550 | -17.4% |
| Amounts payable within one year | 42/48 | €200,467 | €145,002 | -€55,465 | -27.7% |
| Current portion of amounts payable after more than one year | 42 | €46,312 | €47,550 | +€1,238 | +2.7% |
| Trade debts | 44 | €1,100 | €0 | -€1,100 | -100.0% |
| Suppliers | 440/4 | €1,100 | €0 | -€1,100 | -100.0% |
| Taxes, remuneration and social security | 45 | €151,871 | €96,421 | -€55,450 | -36.5% |
| Taxes | 450/3 | €151,871 | €96,421 | -€55,450 | -36.5% |
| Other amounts payable | 47/48 | €1,184 | €1,031 | -€153 | -12.9% |
| Accrued charges and deferred income | 492/3 | €1,935 | €0 | -€1,935 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,909 | €11,130 | +€4,221 | +61.1% |
| Other operating charges | 640/8 | €555 | €617 | +€62 | +11.2% |
| Non-recurring operating charges | 66A | €22,987 | €9,389 | -€13,598 | -59.2% |
| Gross operating margin | 9900 | €301,516 | €297,242 | -€4,274 | -1.4% |
| Operating profit (loss) | 9901 | €271,065 | €276,106 | +€5,041 | +1.9% |
| Financial income | 75/76B | €349 | €6,382 | +€6,033 | +1728.7% |
| Recurring financial income | 75 | €349 | €6,382 | +€6,033 | +1728.7% |
| Financial charges | 65/66B | €9,594 | €8,084 | -€1,510 | -15.7% |
| Recurring financial charges | 65 | €9,594 | €8,084 | -€1,510 | -15.7% |
| Profit (loss) for the period before taxes | 9903 | €261,820 | €274,404 | +€12,584 | +4.8% |
| Income taxes | 67/77 | €78,790 | €82,818 | +€4,028 | +5.1% |
| Profit (loss) for the period | 9904 | €183,030 | €191,586 | +€8,556 | +4.7% |
| Profit (loss) for the period to be appropriated | 9905 | €183,030 | €191,586 | +€8,556 | +4.7% |
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 12 October 2026 via checked.be.