LD: 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.
LD
Largest movements
- Cash +€92,142
up €92,142 (+57.4%), from €160,472 to €252,614
mainly Other debts (+€315,712) and Net result for the year (+€121,911)
- Current investments +€24,000
up €24,000 (+40.2%), from €59,725 to €83,725
- Tangible fixed assets -€10,551
down €10,551 (-68.9%), from €15,320 to €4,768
- Receivables within one year -€9,188
down €9,188 (-6.3%), from €145,067 to €135,879
of which Trade receivables: -€9,188
- Other debts +€315,712
up €315,712 (+119,289%), from €265 to €315,976
- Reserves -€244,174
down €244,174 (-66.7%), from €366,084 to €121,911
- Tax, wage and social debts +€17,753
up €17,753 (+178%), from €9,962 to €27,715
- Trade debts +€7,112
up €7,112 (+437%), from €1,626 to €8,738
- Gross operating margin +€45,020
up €45,020 (+34.8%), from €129,242 to €174,262
- Taxes +€13,174
up €13,174 (+56.0%), from €23,538 to €36,712
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 | €380,937 | €477,339 | +€96,403 | +25.3% |
| Fixed assets | 21/28 | €15,320 | €4,768 | -€10,551 | -68.9% |
| Tangible fixed assets | 22/27 | €15,320 | €4,768 | -€10,551 | -68.9% |
| Furniture and vehicles | 24 | €15,320 | €4,768 | -€10,551 | -68.9% |
| Current assets | 29/58 | €365,617 | €472,571 | +€106,954 | +29.3% |
| Amounts receivable within one year | 40/41 | €145,067 | €135,879 | -€9,188 | -6.3% |
| Trade receivables | 40 | €141,419 | €132,232 | -€9,188 | -6.5% |
| Other amounts receivable | 41 | €3,648 | €3,648 | = | 0.0% |
| Current investments | 50/53 | €59,725 | €83,725 | +€24,000 | +40.2% |
| Cash at bank and in hand | 54/58 | €160,472 | €252,614 | +€92,142 | +57.4% |
| Deferred charges and accrued income | 490/1 | €353 | €353 | = | 0.0% |
| Total equity and liabilities | 10/49 | €380,937 | €477,339 | +€96,403 | +25.3% |
| Equity | 10/15 | €369,084 | €124,911 | -€244,174 | -66.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €366,084 | €121,911 | -€244,174 | -66.7% |
| Distributable reserves | 133 | €366,084 | €121,911 | -€244,174 | -66.7% |
| Amounts payable | 17/49 | €11,853 | €352,429 | +€340,576 | +2,873% |
| Amounts payable within one year | 42/48 | €11,853 | €352,429 | +€340,576 | +2,873% |
| Trade debts | 44 | €1,626 | €8,738 | +€7,112 | +437% |
| Suppliers | 440/4 | €1,626 | €8,738 | +€7,112 | +437% |
| Taxes, remuneration and social security | 45 | €9,962 | €27,715 | +€17,753 | +178% |
| Taxes | 450/3 | €9,962 | €27,715 | +€17,753 | +178% |
| Other amounts payable | 47/48 | €265 | €315,976 | +€315,712 | +119,289% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,749 | €15,449 | -€300 | -1.9% |
| Other operating charges | 640/8 | €778 | €562 | -€217 | -27.8% |
| Gross operating margin | 9900 | €129,242 | €174,262 | +€45,020 | +34.8% |
| Operating profit (loss) | 9901 | €112,714 | €158,250 | +€45,537 | +40.4% |
| Financial income | 75/76B | €420 | €422 | +€2 | +0.4% |
| Recurring financial income | 75 | €420 | €422 | +€2 | +0.4% |
| Financial charges | 65/66B | €499 | €50 | -€449 | -90.0% |
| Recurring financial charges | 65 | €499 | €50 | -€449 | -90.0% |
| Profit (loss) for the period before taxes | 9903 | €112,635 | €158,623 | +€45,987 | +40.8% |
| Income taxes | 67/77 | €23,538 | €36,712 | +€13,174 | +56.0% |
| Profit (loss) for the period | 9904 | €89,097 | €121,911 | +€32,813 | +36.8% |
| Profit (loss) for the period to be appropriated | 9905 | €89,097 | €121,911 | +€32,813 | +36.8% |
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 27 October 2026 via checked.be.