LD ORGANISATION: 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 ORGANISATION
Largest movements
- Cash +€131,536
up €131,536 (+68.6%), from €191,754 to €323,290
mainly Short-term financial debts (+€225,000) and Receivables within one year (+€117,841)
- Receivables within one year -€117,841
down €117,841 (-20.1%), from €587,661 to €469,820
of which Trade receivables: -€104,439
- Tangible fixed assets +€93,098
up €93,098 (+44.8%), from €208,010 to €301,108
of which Other tangible fixed assets: +€77,207
- Financial fixed assets -€24,046
no longer reported in 2025 (was €24,046)
- Intangible fixed assets +€18,914
new in 2025: €18,914
- Short-term financial debts +€225,000
up €225,000 (+450%), from €50,000 to €275,000
- Trade debts -€195,082
down €195,082 (-45.7%), from €426,749 to €231,667
- Debts after one year +€92,178
up €92,178 (+98.5%), from €93,547 to €185,725
- Accrued charges and deferred income -€90,368
down €90,368 (-65.1%), from €138,804 to €48,436
- Tax, wage and social debts +€36,387
up €36,387 (+33.8%), from €107,523 to €143,910
of which Remuneration and social security: +€33,252
- Gross operating margin +€152,325
up €152,325 (+22.9%), from €666,311 to €818,636
- Staff costs +€126,469
up €126,469 (+25.6%), from €493,509 to €619,978
- Financial charges +€28,137
up €28,137 (+35.2%), from €79,829 to €107,966
of which Financial charges: +€22,182
- Financial income +€18,750
up €18,750 (+412%), from €4,548 to €23,299
- Depreciation +€18,405
up €18,405 (+36.4%), from €50,608 to €69,013
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 | €1,024,019 | €1,119,432 | +€95,414 | +9.3% |
| Fixed assets | 21/28 | €232,056 | €320,023 | +€87,967 | +37.9% |
| Intangible fixed assets | 21 | - | €18,914 | +€18,914 | |
| Tangible fixed assets | 22/27 | €208,010 | €301,108 | +€93,098 | +44.8% |
| Plant, machinery and equipment | 23 | €45,450 | €48,496 | +€3,046 | +6.7% |
| Furniture and vehicles | 24 | €156,605 | €169,450 | +€12,845 | +8.2% |
| Other tangible fixed assets | 26 | €5,955 | €83,163 | +€77,207 | +1,296% |
| Financial fixed assets | 28 | €24,046 | - | -€24,046 | |
| Current assets | 29/58 | €791,963 | €799,410 | +€7,447 | +0.9% |
| Amounts receivable within one year | 40/41 | €587,661 | €469,820 | -€117,841 | -20.1% |
| Trade receivables | 40 | €385,064 | €280,626 | -€104,439 | -27.1% |
| Other amounts receivable | 41 | €202,597 | €189,195 | -€13,402 | -6.6% |
| Cash at bank and in hand | 54/58 | €191,754 | €323,290 | +€131,536 | +68.6% |
| Deferred charges and accrued income | 490/1 | €12,548 | €6,300 | -€6,248 | -49.8% |
| Total equity and liabilities | 10/49 | €1,024,019 | €1,119,432 | +€95,414 | +9.3% |
| Equity | 10/15 | €157,559 | €164,597 | +€7,037 | +4.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €20,959 | €20,959 | = | 0.0% |
| Tax-exempt reserves | 132 | €19,100 | €19,100 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €118,008 | €125,045 | +€7,037 | +6.0% |
| Amounts payable | 17/49 | €866,460 | €954,836 | +€88,376 | +10.2% |
| Amounts payable after more than one year | 17 | €93,547 | €185,725 | +€92,178 | +98.5% |
| Financial debts | 170/4 | €93,547 | €185,725 | +€92,178 | +98.5% |
| Amounts payable within one year | 42/48 | €634,108 | €720,674 | +€86,566 | +13.7% |
| Current portion of amounts payable after more than one year | 42 | €30,471 | €39,988 | +€9,517 | +31.2% |
| Financial debts | 43 | €50,000 | €275,000 | +€225,000 | +450% |
| Credit institutions | 430/8 | €50,000 | €275,000 | +€225,000 | +450% |
| Trade debts | 44 | €426,749 | €231,667 | -€195,082 | -45.7% |
| Suppliers | 440/4 | €426,749 | €231,667 | -€195,082 | -45.7% |
| Taxes, remuneration and social security | 45 | €107,523 | €143,910 | +€36,387 | +33.8% |
| Taxes | 450/3 | €63,923 | €67,059 | +€3,136 | +4.9% |
| Remuneration and social security | 454/9 | €43,599 | €76,851 | +€33,252 | +76.3% |
| Other amounts payable | 47/48 | €19,366 | €30,110 | +€10,744 | +55.5% |
| Accrued charges and deferred income | 492/3 | €138,804 | €48,436 | -€90,368 | -65.1% |
| Non-recurring operating income | 76A | - | €2,931 | +€2,931 | |
| Remuneration, social security and pensions | 62 | €493,509 | €619,978 | +€126,469 | +25.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,608 | €69,013 | +€18,405 | +36.4% |
| Other operating charges | 640/8 | €14,644 | €9,359 | -€5,285 | -36.1% |
| Non-recurring operating charges | 66A | - | €1,584 | +€1,584 | |
| Gross operating margin | 9900 | €666,311 | €818,636 | +€152,325 | +22.9% |
| Operating profit (loss) | 9901 | €107,550 | €118,702 | +€11,152 | +10.4% |
| Financial income | 75/76B | €4,548 | €23,299 | +€18,750 | +412% |
| Recurring financial income | 75 | €4,548 | €23,299 | +€18,750 | +412% |
| Financial charges | 65/66B | €79,829 | €107,966 | +€28,137 | +35.2% |
| Recurring financial charges | 65 | €79,829 | €102,010 | +€22,182 | +27.8% |
| Non-recurring financial charges | 66B | - | €5,955 | +€5,955 | |
| Profit (loss) for the period before taxes | 9903 | €32,270 | €34,035 | +€1,765 | +5.5% |
| Income taxes | 67/77 | €10,824 | €16,998 | +€6,174 | +57.0% |
| Profit (loss) for the period | 9904 | €21,447 | €17,037 | -€4,409 | -20.6% |
| Profit (loss) for the period to be appropriated | 9905 | €21,447 | €17,037 | -€4,409 | -20.6% |
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 22 October 2026 via checked.be.