LD EXPERTISES: 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 EXPERTISES
Largest movements
- Receivables within one year -€386,595
down €386,595 (-96.3%), from €401,367 to €14,772
of which Trade receivables: -€304,679
- Cash +€198,107
up €198,107 (+476.2%), from €41,599 to €239,705
mainly Receivables within one year (+€386,595) and Net result for the year (+€259,296)
- Tangible fixed assets +€135,787
up €135,787 (+10.4%), from €1.3m to €1.4m
of which Land and buildings: +€1.4m
- Trade debts -€167,654
down €167,654 (-67.5%), from €248,416 to €80,762
- Reserves +€95,790
up €95,790 (+29.9%), from €320,360 to €416,150
of which Distributable reserves: +€97,650
- Debts after one year -€41,723
down €41,723 (-5.1%), from €814,055 to €772,332
of which Financial debts: -€51,393
- Other debts +€33,144
up €33,144 (+29.9%), from €110,851 to €143,994
- Turnover -€130,420
no longer reported in 2026 (was €130,420)
- Financial income +€105,930
up €105,930 (+73.3%), from €144,463 to €250,392
- Purchases and services -€47,744
no longer reported in 2026 (was €47,744)
- Gross operating margin +€30,340
up €30,340 (+36.7%), from €82,676 to €113,016
- Depreciation +€17,857
up €17,857 (+91.6%), from €19,488 to €37,345
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,758,167 | €1,703,371 | -€54,796 | -3.1% |
| Fixed assets | 21/28 | €1,314,591 | €1,448,778 | +€134,187 | +10.2% |
| Tangible fixed assets | 22/27 | €1,305,591 | €1,441,378 | +€135,787 | +10.4% |
| Land and buildings | 22 | - | €1,436,965 | +€1.4m | |
| Plant, machinery and equipment | 23 | - | €2,262 | +€2,262 | |
| Furniture and vehicles | 24 | €3,190 | €2,151 | -€1,038 | -32.6% |
| Other tangible fixed assets | 26 | €1,302,402 | €0 | -€1.3m | -100.0% |
| Financial fixed assets | 28 | €9,000 | €7,400 | -€1,600 | -17.8% |
| Current assets | 29/58 | €443,576 | €254,593 | -€188,983 | -42.6% |
| Amounts receivable within one year | 40/41 | €401,367 | €14,772 | -€386,595 | -96.3% |
| Trade receivables | 40 | €313,377 | €8,699 | -€304,679 | -97.2% |
| Other amounts receivable | 41 | €87,990 | €6,073 | -€81,917 | -93.1% |
| Cash at bank and in hand | 54/58 | €41,599 | €239,705 | +€198,107 | +476.2% |
| Deferred charges and accrued income | 490/1 | €611 | €116 | -€494 | -80.9% |
| Total equity and liabilities | 10/49 | €1,758,167 | €1,703,371 | -€54,796 | -3.1% |
| Equity | 10/15 | €518,850 | €614,646 | +€95,796 | +18.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | - | -€6,200 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €12,400 | - | -€12,400 | |
| Reserves | 13 | €320,360 | €416,150 | +€95,790 | +29.9% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100.0% |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | - | €0 | = | |
| Distributable reserves | 133 | €318,500 | €416,150 | +€97,650 | +30.7% |
| Profit (loss) carried forward | 14 | €192,290 | €192,296 | +€6 | 0.0% |
| Amounts payable | 17/49 | €1,239,317 | €1,088,725 | -€150,592 | -12.2% |
| Amounts payable after more than one year | 17 | €814,055 | €772,332 | -€41,723 | -5.1% |
| Financial debts | 170/4 | €814,055 | €762,662 | -€51,393 | -6.3% |
| Other amounts payable | 178/9 | - | €9,670 | +€9,670 | |
| Amounts payable within one year | 42/48 | €425,262 | €302,079 | -€123,184 | -29.0% |
| Current portion of amounts payable after more than one year | 42 | €50,026 | €51,393 | +€1,367 | +2.7% |
| Trade debts | 44 | €248,416 | €80,762 | -€167,654 | -67.5% |
| Suppliers | 440/4 | €248,416 | €80,762 | -€167,654 | -67.5% |
| Taxes, remuneration and social security | 45 | €15,969 | €25,929 | +€9,960 | +62.4% |
| Taxes | 450/3 | €15,969 | €25,929 | +€9,960 | +62.4% |
| Other amounts payable | 47/48 | €110,851 | €143,994 | +€33,144 | +29.9% |
| Accrued charges and deferred income | 492/3 | - | €14,315 | +€14,315 | |
| Turnover | 70 | €130,420 | - | -€130,420 | |
| Non-recurring operating income | 76A | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €47,744 | - | -€47,744 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,488 | €37,345 | +€17,857 | +91.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €13,925 | - | -€13,925 | |
| Other operating charges | 640/8 | €3,207 | €3,282 | +€75 | +2.4% |
| Gross operating margin | 9900 | €82,676 | €113,016 | +€30,340 | +36.7% |
| Operating profit (loss) | 9901 | €46,057 | €72,389 | +€26,332 | +57.2% |
| Financial income | 75/76B | €144,463 | €250,392 | +€105,930 | +73.3% |
| Recurring financial income | 75 | €144,463 | €250,392 | +€105,930 | +73.3% |
| Financial charges | 65/66B | €9,662 | €23,367 | +€13,705 | +141.8% |
| Recurring financial charges | 65 | €9,662 | €23,367 | +€13,705 | +141.8% |
| Profit (loss) for the period before taxes | 9903 | €180,857 | €299,415 | +€118,558 | +65.6% |
| Income taxes | 67/77 | €24,484 | €40,119 | +€15,635 | +63.9% |
| Profit (loss) for the period | 9904 | €156,374 | €259,296 | +€102,922 | +65.8% |
| Profit (loss) for the period to be appropriated | 9905 | €156,374 | €259,296 | +€102,922 | +65.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.