LD 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.
LD PROJECTS
Largest movements
- Receivables within one year +€28,241
up €28,241 (+330.5%), from €8,544 to €36,785
of which Other amounts receivable: +€16,994
- Cash -€14,257
down €14,257 (-48.5%), from €29,368 to €15,110
mainly Receivables within one year (-€28,241) and Other debts (-€25,322)
- Tangible fixed assets -€8,484
down €8,484 (-39.6%), from €21,438 to €12,954
- Other debts -€25,322
no longer reported in 2025 (was €25,322)
- Profit (loss) carried forward +€10,645
up €10,645 (+124.7%), from €8,536 to €19,180
- Advances received +€8,916
up €8,916 (+275.3%), from €3,238 to €12,154
- Tax, wage and social debts +€6,170
up €6,170 (+264.1%), from €2,336 to €8,506
of which Taxes: +€3,897
- Trade debts +€5,251
up €5,251 (+529.0%), from €993 to €6,243
- Gross operating margin +€13,368
up €13,368 (+63.6%), from €21,010 to €34,378
- Staff costs +€8,066
new in 2025: €8,066
- Other operating charges +€1,767
up €1,767 (+129.4%), from €1,365 to €3,133
- Taxes +€1,405
up €1,405 (+56.4%), from €2,492 to €3,897
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.
Cash bridge derived
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 | €60,424 | €66,084 | +€5,660 | +9.4% |
| Fixed assets | 21/28 | €21,438 | €12,954 | -€8,484 | -39.6% |
| Tangible fixed assets | 22/27 | €21,438 | €12,954 | -€8,484 | -39.6% |
| Furniture and vehicles | 24 | €21,438 | €12,954 | -€8,484 | -39.6% |
| Current assets | 29/58 | €38,986 | €53,130 | +€14,144 | +36.3% |
| Amounts receivable within one year | 40/41 | €8,544 | €36,785 | +€28,241 | +330.5% |
| Trade receivables | 40 | €5,170 | €16,417 | +€11,247 | +217.6% |
| Other amounts receivable | 41 | €3,374 | €20,368 | +€16,994 | +503.7% |
| Cash at bank and in hand | 54/58 | €29,368 | €15,110 | -€14,257 | -48.5% |
| Deferred charges and accrued income | 490/1 | €1,074 | €1,235 | +€160 | +14.9% |
| Total equity and liabilities | 10/49 | €60,424 | €66,084 | +€5,660 | +9.4% |
| Equity | 10/15 | €28,536 | €39,180 | +€10,645 | +37.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,536 | €19,180 | +€10,645 | +124.7% |
| Amounts payable | 17/49 | €31,888 | €26,903 | -€4,985 | -15.6% |
| Amounts payable within one year | 42/48 | €31,888 | €26,903 | -€4,985 | -15.6% |
| Trade debts | 44 | €993 | €6,243 | +€5,251 | +529.0% |
| Suppliers | 440/4 | €993 | €6,243 | +€5,251 | +529.0% |
| Advances received on contracts in progress | 46 | €3,238 | €12,154 | +€8,916 | +275.3% |
| Taxes, remuneration and social security | 45 | €2,336 | €8,506 | +€6,170 | +264.1% |
| Taxes | 450/3 | €2,336 | €6,233 | +€3,897 | +166.8% |
| Remuneration and social security | 454/9 | - | €2,273 | +€2,273 | |
| Other amounts payable | 47/48 | €25,322 | - | -€25,322 | |
| Remuneration, social security and pensions | 62 | - | €8,066 | +€8,066 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,484 | €8,484 | = | 0.0% |
| Other operating charges | 640/8 | €1,365 | €3,133 | +€1,767 | +129.4% |
| Gross operating margin | 9900 | €21,010 | €34,378 | +€13,368 | +63.6% |
| Operating profit (loss) | 9901 | €11,160 | €14,695 | +€3,535 | +31.7% |
| Financial charges | 65/66B | €153 | €153 | = | 0.0% |
| Recurring financial charges | 65 | €153 | €153 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €11,007 | €14,541 | +€3,535 | +32.1% |
| Income taxes | 67/77 | €2,492 | €3,897 | +€1,405 | +56.4% |
| Profit (loss) for the period | 9904 | €8,515 | €10,645 | +€2,130 | +25.0% |
| Profit (loss) for the period to be appropriated | 9905 | €8,515 | €10,645 | +€2,130 | +25.0% |
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 10 October 2026 via checked.be.