LDB-V: 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-V
Largest movements
- Receivables within one year +€339,899
up €339,899 (+75.8%), from €448,539 to €788,438
of which Trade receivables: +€349,879
- Stocks and contracts -€116,271
down €116,271 (-65.2%), from €178,213 to €61,942
- Cash -€88,577
down €88,577 (-54.6%), from €162,316 to €73,739
mainly Receivables within one year (-€339,899) and Investment in fixed assets (net) (-€144,691)
- Tangible fixed assets +€84,287
up €84,287 (+21.0%), from €401,939 to €486,226
of which Leasing and similar rights: +€94,548
- Trade debts +€137,182
up €137,182 (+20.9%), from €654,921 to €792,103
- Debts after one year +€52,520
up €52,520 (+29.4%), from €178,750 to €231,270
- Reserves +€14,423
up €14,423 (+11.0%), from €130,850 to €145,273
of which Distributable reserves: +€14,423
- Gross operating margin +€24,382
up €24,382 (+31.3%), from €77,880 to €102,262
- Depreciation +€12,079
up €12,079 (+25.0%), from €48,325 to €60,404
- Financial charges +€3,555
up €3,555 (+30.4%), from €11,692 to €15,247
- Taxes +€2,855
up €2,855 (+38.7%), from €7,380 to €10,235
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 | €1,191,952 | €1,414,680 | +€222,728 | +18.7% |
| Fixed assets | 21/28 | €402,074 | €486,361 | +€84,287 | +21.0% |
| Tangible fixed assets | 22/27 | €401,939 | €486,226 | +€84,287 | +21.0% |
| Land and buildings | 22 | €357,059 | €339,262 | -€17,797 | -5.0% |
| Plant, machinery and equipment | 23 | €8,268 | €25,388 | +€17,120 | +207.1% |
| Furniture and vehicles | 24 | €36,612 | €27,028 | -€9,584 | -26.2% |
| Leasing and similar rights | 25 | - | €94,548 | +€94,548 | |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €789,878 | €928,319 | +€138,441 | +17.5% |
| Stocks and contracts in progress | 3 | €178,213 | €61,942 | -€116,271 | -65.2% |
| Stocks | 30/36 | €178,213 | €61,942 | -€116,271 | -65.2% |
| Amounts receivable within one year | 40/41 | €448,539 | €788,438 | +€339,899 | +75.8% |
| Trade receivables | 40 | €438,290 | €788,169 | +€349,879 | +79.8% |
| Other amounts receivable | 41 | €10,249 | €269 | -€9,980 | -97.4% |
| Cash at bank and in hand | 54/58 | €162,316 | €73,739 | -€88,577 | -54.6% |
| Deferred charges and accrued income | 490/1 | €810 | €4,200 | +€3,390 | +418.5% |
| Total equity and liabilities | 10/49 | €1,191,952 | €1,414,680 | +€222,728 | +18.7% |
| Equity | 10/15 | €150,850 | €165,273 | +€14,423 | +9.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Capital | 10 | €20,000 | €20,000 | = | 0.0% |
| Issued capital | 100 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €130,850 | €145,273 | +€14,423 | +11.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Legal reserve | 130 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €128,850 | €143,273 | +€14,423 | +11.2% |
| Amounts payable | 17/49 | €1,041,102 | €1,249,407 | +€208,305 | +20.0% |
| Amounts payable after more than one year | 17 | €178,750 | €231,270 | +€52,520 | +29.4% |
| Financial debts | 170/4 | €178,750 | €231,270 | +€52,520 | +29.4% |
| Amounts payable within one year | 42/48 | €862,352 | €1,018,137 | +€155,785 | +18.1% |
| Current portion of amounts payable after more than one year | 42 | €28,667 | €41,320 | +€12,653 | +44.1% |
| Financial debts | 43 | €150,000 | €150,000 | = | 0.0% |
| Credit institutions | 430/8 | €150,000 | €150,000 | = | 0.0% |
| Trade debts | 44 | €654,921 | €792,103 | +€137,182 | +20.9% |
| Suppliers | 440/4 | €654,921 | €792,103 | +€137,182 | +20.9% |
| Taxes, remuneration and social security | 45 | €8,573 | €13,697 | +€5,124 | +59.8% |
| Taxes | 450/3 | €8,573 | €13,697 | +€5,124 | +59.8% |
| Other amounts payable | 47/48 | €20,191 | €21,017 | +€826 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,325 | €60,404 | +€12,079 | +25.0% |
| Other operating charges | 640/8 | €2,328 | €1,957 | -€371 | -15.9% |
| Gross operating margin | 9900 | €77,880 | €102,262 | +€24,382 | +31.3% |
| Operating profit (loss) | 9901 | €27,227 | €39,901 | +€12,674 | +46.5% |
| Financial income | 75/76B | €276 | €4 | -€272 | -98.6% |
| Recurring financial income | 75 | €276 | €4 | -€272 | -98.6% |
| Financial charges | 65/66B | €11,692 | €15,247 | +€3,555 | +30.4% |
| Recurring financial charges | 65 | €11,692 | €15,247 | +€3,555 | +30.4% |
| Profit (loss) for the period before taxes | 9903 | €15,811 | €24,658 | +€8,847 | +56.0% |
| Income taxes | 67/77 | €7,380 | €10,235 | +€2,855 | +38.7% |
| Profit (loss) for the period | 9904 | €8,431 | €14,423 | +€5,992 | +71.1% |
| Profit (loss) for the period to be appropriated | 9905 | €8,431 | €14,423 | +€5,992 | +71.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.