LDA CONSULT: what changed
Two fiscal 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.
LDA CONSULT
Largest movements
- Receivables within one year +€36,476
up €36,476 (+196.2%), from €18,594 to €55,070
of which Trade receivables: +€36,469
- Cash -€26,292
down €26,292 (-99.5%), from €26,428 to €136
mainly Debts after one year (-€48,036) and Receivables within one year (-€36,476)
- Tangible fixed assets -€23,144
down €23,144 (-3.5%), from €666,648 to €643,504
of which Land and buildings: -€21,376
- Debts after one year -€48,036
down €48,036 (-8.3%), from €579,468 to €531,432
of which Other amounts payable: -€25,296
- Profit (loss) carried forward +€15,956
up €15,956 (+77.1%), from €20,688 to €36,644
- Tax, wage and social debts +€14,130
up €14,130 (+108.9%), from €12,975 to €27,105
- Gross operating margin -€95,187
down €95,187 (-60.7%), from €156,944 to €61,756
- Staff costs -€62,581
no longer reported in 2025 (was €62,581)
- Financial charges -€7,734
down €7,734 (-42.0%), from €18,406 to €10,672
of which Financial charges: -€7,376
- Other operating charges -€6,881
down €6,881 (-94.3%), from €7,295 to €414
- Depreciation -€3,805
down €3,805 (-14.1%), from €26,949 to €23,144
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 | €734,163 | €722,326 | -€11,837 | -1.6% |
| Fixed assets | 21/28 | €666,648 | €643,504 | -€23,144 | -3.5% |
| Tangible fixed assets | 22/27 | €666,648 | €643,504 | -€23,144 | -3.5% |
| Land and buildings | 22 | €663,125 | €641,749 | -€21,376 | -3.2% |
| Plant, machinery and equipment | 23 | €512 | €443 | -€69 | -13.5% |
| Furniture and vehicles | 24 | €3,012 | €1,313 | -€1,699 | -56.4% |
| Current assets | 29/58 | €67,515 | €78,821 | +€11,307 | +16.7% |
| Stocks and contracts in progress | 3 | €17,809 | €19,898 | +€2,089 | +11.7% |
| Stocks | 30/36 | €17,809 | €19,898 | +€2,089 | +11.7% |
| Amounts receivable within one year | 40/41 | €18,594 | €55,070 | +€36,476 | +196.2% |
| Trade receivables | 40 | €18,594 | €55,063 | +€36,469 | +196.1% |
| Other amounts receivable | 41 | - | €7 | +€7 | |
| Cash at bank and in hand | 54/58 | €26,428 | €136 | -€26,292 | -99.5% |
| Deferred charges and accrued income | 490/1 | €4,685 | €3,718 | -€967 | -20.6% |
| Total equity and liabilities | 10/49 | €734,163 | €722,326 | -€11,837 | -1.6% |
| Equity | 10/15 | €104,985 | €120,941 | +€15,956 | +15.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €65,697 | €65,697 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3 | €3 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3 | €3 | = | 0.0% |
| Distributable reserves | 133 | €65,694 | €65,694 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,688 | €36,644 | +€15,956 | +77.1% |
| Amounts payable | 17/49 | €629,178 | €601,385 | -€27,793 | -4.4% |
| Amounts payable after more than one year | 17 | €579,468 | €531,432 | -€48,036 | -8.3% |
| Financial debts | 170/4 | €402,556 | €379,816 | -€22,740 | -5.6% |
| Other amounts payable | 178/9 | €176,912 | €151,616 | -€25,296 | -14.3% |
| Amounts payable within one year | 42/48 | €45,773 | €67,473 | +€21,699 | +47.4% |
| Current portion of amounts payable after more than one year | 42 | €24,180 | €22,740 | -€1,440 | -6.0% |
| Financial debts | 43 | - | €6,168 | +€6,168 | |
| Credit institutions | 430/8 | - | €6,168 | +€6,168 | |
| Trade debts | 44 | €5,733 | €9,794 | +€4,062 | +70.8% |
| Suppliers | 440/4 | €5,733 | €9,794 | +€4,062 | +70.8% |
| Taxes, remuneration and social security | 45 | €12,975 | €27,105 | +€14,130 | +108.9% |
| Taxes | 450/3 | €12,975 | €27,105 | +€14,130 | +108.9% |
| Other amounts payable | 47/48 | €2,885 | €1,666 | -€1,219 | -42.3% |
| Accrued charges and deferred income | 492/3 | €3,937 | €2,480 | -€1,457 | -37.0% |
| Non-recurring operating income | 76A | €8,342 | - | -€8,342 | |
| Remuneration, social security and pensions | 62 | €62,581 | - | -€62,581 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,949 | €23,144 | -€3,805 | -14.1% |
| Other operating charges | 640/8 | €7,295 | €414 | -€6,881 | -94.3% |
| Non-recurring operating charges | 66A | €12,575 | - | -€12,575 | |
| Gross operating margin | 9900 | €156,944 | €61,756 | -€95,187 | -60.7% |
| Operating profit (loss) | 9901 | €47,544 | €38,199 | -€9,345 | -19.7% |
| Financial income | 75/76B | €1,244 | €0 | -€1,243 | -100.0% |
| Recurring financial income | 75 | €1,244 | €0 | -€1,243 | -100.0% |
| Financial charges | 65/66B | €18,406 | €10,672 | -€7,734 | -42.0% |
| Recurring financial charges | 65 | €18,048 | €10,672 | -€7,376 | -40.9% |
| Non-recurring financial charges | 66B | €358 | - | -€358 | |
| Profit (loss) for the period before taxes | 9903 | €30,381 | €27,527 | -€2,854 | -9.4% |
| Income taxes | 67/77 | €7,975 | €9,905 | +€1,930 | +24.2% |
| Profit (loss) for the period | 9904 | €22,406 | €17,622 | -€4,784 | -21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €22,406 | €17,622 | -€4,784 | -21.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.