LDBO: 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.
LDBO
Largest movements
- Tangible fixed assets -€20,341
down €20,341 (-24.8%), from €82,111 to €61,770
- Cash -€8,585
down €8,585 (-52.5%), from €16,368 to €7,783
mainly Contributions, distributions and other (-€64,449) and Debts after one year (-€20,816)
- Receivables within one year +€7,904
up €7,904 (+41.9%), from €18,872 to €26,776
of which Trade receivables: +€7,595
- Deferred charges and accrued income +€2,088
up €2,088 (+79.7%), from €2,619 to €4,707
- Debts after one year -€20,816
down €20,816 (-35.1%), from €59,248 to €38,432
- Other debts +€5,671
up €5,671 (+93.7%), from €6,049 to €11,720
- Tax, wage and social debts -€2,379
down €2,379 (-11.1%), from €21,341 to €18,961
of which Taxes: -€2,379
- Gross operating margin -€29,965
down €29,965 (-19.7%), from €152,309 to €122,343
- Taxes -€10,215
down €10,215 (-28.2%), from €36,192 to €25,977
- Depreciation +€7,130
up €7,130 (+38.5%), from €18,532 to €25,663
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 | €132,110 | €112,512 | -€19,597 | -14.8% |
| Fixed assets | 21/28 | €82,111 | €61,770 | -€20,341 | -24.8% |
| Tangible fixed assets | 22/27 | €82,111 | €61,770 | -€20,341 | -24.8% |
| Furniture and vehicles | 24 | €82,111 | €61,770 | -€20,341 | -24.8% |
| Current assets | 29/58 | €49,999 | €50,743 | +€744 | +1.5% |
| Stocks and contracts in progress | 3 | €12,140 | €11,477 | -€663 | -5.5% |
| Stocks | 30/36 | €12,140 | €11,477 | -€663 | -5.5% |
| Amounts receivable within one year | 40/41 | €18,872 | €26,776 | +€7,904 | +41.9% |
| Trade receivables | 40 | €14,715 | €22,310 | +€7,595 | +51.6% |
| Other amounts receivable | 41 | €4,157 | €4,466 | +€309 | +7.4% |
| Cash at bank and in hand | 54/58 | €16,368 | €7,783 | -€8,585 | -52.5% |
| Deferred charges and accrued income | 490/1 | €2,619 | €4,707 | +€2,088 | +79.7% |
| Total equity and liabilities | 10/49 | €132,110 | €112,512 | -€19,597 | -14.8% |
| Equity | 10/15 | €20,460 | €20,460 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €111,650 | €92,052 | -€19,597 | -17.6% |
| Amounts payable after more than one year | 17 | €59,248 | €38,432 | -€20,816 | -35.1% |
| Financial debts | 170/4 | €59,248 | €38,432 | -€20,816 | -35.1% |
| Amounts payable within one year | 42/48 | €52,402 | €53,620 | +€1,218 | +2.3% |
| Current portion of amounts payable after more than one year | 42 | €21,591 | €20,816 | -€775 | -3.6% |
| Trade debts | 44 | €3,421 | €2,123 | -€1,298 | -37.9% |
| Suppliers | 440/4 | €3,421 | €2,123 | -€1,298 | -37.9% |
| Taxes, remuneration and social security | 45 | €21,341 | €18,961 | -€2,379 | -11.1% |
| Taxes | 450/3 | €21,341 | €18,961 | -€2,379 | -11.1% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €6,049 | €11,720 | +€5,671 | +93.7% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,532 | €25,663 | +€7,130 | +38.5% |
| Other operating charges | 640/8 | €3,435 | €3,818 | +€382 | +11.1% |
| Gross operating margin | 9900 | €152,309 | €122,343 | -€29,965 | -19.7% |
| Operating profit (loss) | 9901 | €130,341 | €92,863 | -€37,478 | -28.8% |
| Financial income | 75/76B | €167 | €172 | +€5 | +3.1% |
| Recurring financial income | 75 | €167 | €172 | +€5 | +3.1% |
| Financial charges | 65/66B | €1,498 | €2,609 | +€1,111 | +74.2% |
| Recurring financial charges | 65 | €1,498 | €2,609 | +€1,111 | +74.2% |
| Profit (loss) for the period before taxes | 9903 | €129,010 | €90,426 | -€38,584 | -29.9% |
| Income taxes | 67/77 | €36,192 | €25,977 | -€10,215 | -28.2% |
| Profit (loss) for the period | 9904 | €92,818 | €64,449 | -€28,369 | -30.6% |
| Profit (loss) for the period to be appropriated | 9905 | €92,818 | €64,449 | -€28,369 | -30.6% |
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 10 October 2026 via checked.be.