Ladero Immo Projects: 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.
Ladero Immo Projects
Largest movements
- Stocks and contracts -€20.1m
down €20.1m (-93.5%), from €21.6m to €1.4m
- Cash -€403,640
down €403,640 (-21.2%), from €1.9m to €1.5m
mainly Accrued charges and deferred income (-€21.5m) and Deferred charges and accrued income (-€248,396)
- Deferred charges and accrued income +€248,396
new in 2025: €248,396
- Accrued charges and deferred income -€21.5m
no longer reported in 2025 (was €21.5m)
- Profit (loss) carried forward +€885,589
up €885,589 (+3,325%), from €26,638 to €912,227
- Trade debts +€463,405
up €463,405 (+122%), from €378,379 to €841,784
- Gross operating margin +€1.2m
up €1.2m, from -€2,063 to €1.2m
- Taxes +€287,257
up €287,257 (+3,582%), from €8,019 to €295,276
- Financial income -€21,098
down €21,098 (-62.4%), from €33,830 to €12,732
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 | €23,469,823 | €3,335,573 | -€20.1m | -85.8% |
| Current assets | 29/58 | €23,469,823 | €3,335,573 | -€20.1m | -85.8% |
| Stocks and contracts in progress | 3 | €21,558,014 | €1,411,418 | -€20.1m | -93.5% |
| Stocks | 30/36 | €21,558,014 | €1,411,418 | -€20.1m | -93.5% |
| Amounts receivable within one year | 40/41 | €8,497 | €176,087 | +€167,590 | +1,972% |
| Trade receivables | 40 | €903 | €1,087 | +€184 | +20.4% |
| Other amounts receivable | 41 | €7,594 | €175,000 | +€167,406 | +2,204% |
| Cash at bank and in hand | 54/58 | €1,903,312 | €1,499,672 | -€403,640 | -21.2% |
| Deferred charges and accrued income | 490/1 | - | €248,396 | +€248,396 | |
| Total equity and liabilities | 10/49 | €23,469,823 | €3,335,573 | -€20.1m | -85.8% |
| Equity | 10/15 | €45,238 | €930,827 | +€885,589 | +1,958% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,638 | €912,227 | +€885,589 | +3,325% |
| Amounts payable | 17/49 | €23,424,585 | €2,404,746 | -€21.0m | -89.7% |
| Amounts payable within one year | 42/48 | €1,971,081 | €2,404,746 | +€433,665 | +22.0% |
| Trade debts | 44 | €378,379 | €841,784 | +€463,405 | +122% |
| Suppliers | 440/4 | €378,379 | €841,784 | +€463,405 | +122% |
| Taxes, remuneration and social security | 45 | €42,702 | €12,962 | -€29,740 | -69.6% |
| Taxes | 450/3 | €42,702 | €12,962 | -€29,740 | -69.6% |
| Other amounts payable | 47/48 | €1,550,000 | €1,550,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €21,453,504 | - | -€21.5m | |
| Gross operating margin | 9900 | -€2,063 | €1,168,190 | +€1.2m | |
| Operating profit (loss) | 9901 | -€2,063 | €1,168,190 | +€1.2m | |
| Financial income | 75/76B | €33,830 | €12,732 | -€21,098 | -62.4% |
| Recurring financial income | 75 | €33,830 | €12,732 | -€21,098 | -62.4% |
| Financial charges | 65/66B | - | €57 | +€57 | |
| Recurring financial charges | 65 | - | €57 | +€57 | |
| Profit (loss) for the period before taxes | 9903 | €31,767 | €1,180,865 | +€1.1m | +3,617% |
| Income taxes | 67/77 | €8,019 | €295,276 | +€287,257 | +3,582% |
| Profit (loss) for the period | 9904 | €23,748 | €885,589 | +€861,841 | +3,629% |
| Profit (loss) for the period to be appropriated | 9905 | €23,748 | €885,589 | +€861,841 | +3,629% |
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 18 October 2026 via checked.be.