LADDERS SMITS SERVICES: 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.
What changed
LADDERS SMITS SERVICES
NACE 16.281, Manufacture of other wood products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€15,380
2024 · €52,845-€37,465
Equity
€225,200
2024 · €209,820+€15,380
Cash
€2,305
2024 · €6,422-€4,117
Balance sheet total
€1.5m
2024 · €1.4m+€40,630
Largest movements
Assets
- Receivables within one year +€38,685
up €38,685 (+48.9%), from €79,058 to €117,743
of which Other amounts receivable: +€85,818
Equity and liabilities
- Debts after one year +€394,555
up €394,555 (+53.7%), from €735,271 to €1.1m
of which Other amounts payable: +€456,574
- Other debts -€375,581
down €375,581 (-98.2%), from €382,382 to €6,800
- Reserves +€15,380
up €15,380 (+8.1%), from €189,820 to €205,200
Income statement
- Write-downs +€24,740
new in 2025: €24,740
- Gross operating margin -€14,849
down €14,849 (-14.2%), from €104,928 to €90,079
- Taxes -€3,684
down €3,684 (-68.2%), from €5,398 to €1,714
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.
Result 2024
€52,845
Gross operating margin
-€14,849
Depreciation
-€1,001
Write-downs
-€24,740
Other operating charges
-€683
Financial income
+€8
Financial charges
+€117
Taxes
+€3,684
Result 2025
€15,380
raises the resultlowers the result
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.
From operations
-€389,751
Investment
-€15,932
Financing
+€401,566
Cash 2024
€6,422
From operations (derived)
-€389,751
Net result for the year
+€15,380
Depreciation
+€10,469
Receivables within one year
-€38,685
Smaller working-capital items
-€1,334
Other debts
-€375,581
Investment (derived)
-€15,932
Investment in fixed assets (net)
-€15,932
Financing
+€401,566
Debts after one year
+€394,555
Current portion of long-term debt
+€7,011
Cash 2025
€2,305
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,449,086 | €1,489,716 | +€40,630 | +2.8% |
| Fixed assets | 21/28 | €1,361,506 | €1,366,969 | +€5,463 | +0.4% |
| Tangible fixed assets | 22/27 | €699,245 | €704,708 | +€5,463 | +0.8% |
| Land and buildings | 22 | €682,100 | €689,070 | +€6,971 | +1.0% |
| Plant, machinery and equipment | 23 | €9,403 | €9,895 | +€492 | +5.2% |
| Furniture and vehicles | 24 | €7,742 | €5,742 | -€2,000 | -25.8% |
| Financial fixed assets | 28 | €662,261 | €662,261 | = | 0.0% |
| Current assets | 29/58 | €87,580 | €122,747 | +€35,167 | +40.2% |
| Amounts receivable within one year | 40/41 | €79,058 | €117,743 | +€38,685 | +48.9% |
| Trade receivables | 40 | €79,058 | €31,924 | -€47,133 | -59.6% |
| Other amounts receivable | 41 | €0 | €85,818 | +€85,818 | |
| Cash at bank and in hand | 54/58 | €6,422 | €2,305 | -€4,117 | -64.1% |
| Deferred charges and accrued income | 490/1 | €2,100 | €2,699 | +€599 | +28.5% |
| Total equity and liabilities | 10/49 | €1,449,086 | €1,489,716 | +€40,630 | +2.8% |
| Equity | 10/15 | €209,820 | €225,200 | +€15,380 | +7.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €189,820 | €205,200 | +€15,380 | +8.1% |
| Distributable reserves | 133 | €189,820 | €205,200 | +€15,380 | +8.1% |
| Amounts payable | 17/49 | €1,239,266 | €1,264,516 | +€25,250 | +2.0% |
| Amounts payable after more than one year | 17 | €735,271 | €1,129,826 | +€394,555 | +53.7% |
| Financial debts | 170/4 | €735,271 | €673,251 | -€62,020 | -8.4% |
| Other amounts payable | 178/9 | - | €456,574 | +€456,574 | |
| Amounts payable within one year | 42/48 | €482,833 | €113,561 | -€369,272 | -76.5% |
| Current portion of amounts payable after more than one year | 42 | €60,412 | €67,423 | +€7,011 | +11.6% |
| Trade debts | 44 | €23,315 | €22,567 | -€748 | -3.2% |
| Suppliers | 440/4 | €23,315 | €22,567 | -€748 | -3.2% |
| Taxes, remuneration and social security | 45 | €16,724 | €16,771 | +€47 | +0.3% |
| Taxes | 450/3 | €12,610 | €16,238 | +€3,628 | +28.8% |
| Remuneration and social security | 454/9 | €4,114 | €534 | -€3,581 | -87.0% |
| Other amounts payable | 47/48 | €382,382 | €6,800 | -€375,581 | -98.2% |
| Accrued charges and deferred income | 492/3 | €21,162 | €21,129 | -€34 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,468 | €10,469 | +€1,001 | +10.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €24,740 | +€24,740 | |
| Other operating charges | 640/8 | €14,225 | €14,908 | +€683 | +4.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €104,928 | €90,079 | -€14,849 | -14.2% |
| Operating profit (loss) | 9901 | €81,235 | €39,962 | -€41,273 | -50.8% |
| Financial income | 75/76B | - | €8 | +€8 | |
| Recurring financial income | 75 | - | €8 | +€8 | |
| Financial charges | 65/66B | €22,992 | €22,875 | -€117 | -0.5% |
| Recurring financial charges | 65 | €22,992 | €22,875 | -€117 | -0.5% |
| Profit (loss) for the period before taxes | 9903 | €58,243 | €17,094 | -€41,149 | -70.6% |
| Income taxes | 67/77 | €5,398 | €1,714 | -€3,684 | -68.2% |
| Profit (loss) for the period | 9904 | €52,845 | €15,380 | -€37,465 | -70.9% |
| Profit (loss) for the period to be appropriated | 9905 | €52,845 | €15,380 | -€37,465 | -70.9% |
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 19 October 2026 via checked.be.