LDB Projects: 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.
LDB Projects
Largest movements
- Cash +€12,735
up €12,735 (+278.5%), from €4,572 to €17,307
mainly Receivables within one year (+€12,099) and Trade debts (+€11,221)
- Receivables within one year -€12,099
down €12,099 (-18.0%), from €67,246 to €55,147
of which Other amounts receivable: -€17,550
- Tangible fixed assets -€6,554
down €6,554 (-25.6%), from €25,554 to €19,000
of which Furniture and vehicles: -€6,268
- Deferred charges and accrued income -€2,608
down €2,608 (-26.0%), from €10,035 to €7,426
- Other debts -€28,572
down €28,572 (-29.1%), from €98,284 to €69,712
- Trade debts +€11,221
up €11,221 (+208.4%), from €5,384 to €16,605
- Reserves +€6,499
up €6,499 (+58.1%), from €11,195 to €17,694
- Tax, wage and social debts +€2,326
up €2,326 (+63.8%), from €3,643 to €5,969
- Gross operating margin +€10,369
up €10,369 (+161.2%), from €6,432 to €16,801
- Depreciation +€3,895
up €3,895 (+146.4%), from €2,660 to €6,554
- Taxes +€2,635
new in 2025: €2,635
- Other operating charges -€1,751
down €1,751 (-60.2%), from €2,907 to €1,156
- Financial charges -€742
down €742 (-34.7%), from €2,138 to €1,397
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 | €137,107 | €128,580 | -€8,527 | -6.2% |
| Fixed assets | 21/28 | €55,254 | €48,700 | -€6,554 | -11.9% |
| Tangible fixed assets | 22/27 | €25,554 | €19,000 | -€6,554 | -25.6% |
| Land and buildings | 22 | €12,500 | €12,500 | = | 0.0% |
| Plant, machinery and equipment | 23 | €1,314 | €1,027 | -€286 | -21.8% |
| Furniture and vehicles | 24 | €11,740 | €5,472 | -€6,268 | -53.4% |
| Financial fixed assets | 28 | €29,700 | €29,700 | = | 0.0% |
| Current assets | 29/58 | €81,853 | €79,881 | -€1,972 | -2.4% |
| Amounts receivable within one year | 40/41 | €67,246 | €55,147 | -€12,099 | -18.0% |
| Trade receivables | 40 | €24,696 | €30,147 | +€5,451 | +22.1% |
| Other amounts receivable | 41 | €42,550 | €25,000 | -€17,550 | -41.2% |
| Cash at bank and in hand | 54/58 | €4,572 | €17,307 | +€12,735 | +278.5% |
| Deferred charges and accrued income | 490/1 | €10,035 | €7,426 | -€2,608 | -26.0% |
| Total equity and liabilities | 10/49 | €137,107 | €128,580 | -€8,527 | -6.2% |
| Equity | 10/15 | €29,795 | €36,294 | +€6,499 | +21.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €11,195 | €17,694 | +€6,499 | +58.1% |
| Distributable reserves | 133 | €11,195 | €17,694 | +€6,499 | +58.1% |
| Amounts payable | 17/49 | €107,312 | €92,286 | -€15,026 | -14.0% |
| Amounts payable within one year | 42/48 | €107,312 | €92,286 | -€15,026 | -14.0% |
| Trade debts | 44 | €5,384 | €16,605 | +€11,221 | +208.4% |
| Suppliers | 440/4 | €5,384 | €16,605 | +€11,221 | +208.4% |
| Taxes, remuneration and social security | 45 | €3,643 | €5,969 | +€2,326 | +63.8% |
| Taxes | 450/3 | €3,643 | €5,969 | +€2,326 | +63.8% |
| Other amounts payable | 47/48 | €98,284 | €69,712 | -€28,572 | -29.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,660 | €6,554 | +€3,895 | +146.4% |
| Other operating charges | 640/8 | €2,907 | €1,156 | -€1,751 | -60.2% |
| Gross operating margin | 9900 | €6,432 | €16,801 | +€10,369 | +161.2% |
| Operating profit (loss) | 9901 | €866 | €9,091 | +€8,225 | +950.0% |
| Financial income | 75/76B | €1,602 | €1,440 | -€162 | -10.1% |
| Recurring financial income | 75 | €1,602 | €1,440 | -€162 | -10.1% |
| Financial charges | 65/66B | €2,138 | €1,397 | -€742 | -34.7% |
| Recurring financial charges | 65 | €2,138 | €1,397 | -€742 | -34.7% |
| Profit (loss) for the period before taxes | 9903 | €330 | €9,134 | +€8,805 | +2669.4% |
| Income taxes | 67/77 | - | €2,635 | +€2,635 | |
| Profit (loss) for the period | 9904 | €330 | €6,499 | +€6,169 | +1870.4% |
| Profit (loss) for the period to be appropriated | 9905 | €330 | €6,499 | +€6,169 | +1870.4% |
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 3 October 2026 via checked.be.