LDC: 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.
LDC
Largest movements
- Cash +€62,906
up €62,906 (+69.9%), from €89,947 to €152,854
mainly Net result for the year (+€114,487) and Other debts (+€51,202)
- Current investments -€25,649
no longer reported in 2025 (was €25,649)
- Other debts +€51,202
up €51,202 (+64.0%), from €80,000 to €131,202
- Reserves -€16,657
down €16,657 (-89.3%), from €18,657 to €2,000
of which Distributable reserves: -€16,657
- Tax, wage and social debts +€1,660
up €1,660 (+73.9%), from €2,247 to €3,907
- Gross operating margin +€23,314
up €23,314 (+18.6%), from €125,559 to €148,873
- Taxes +€5,275
up €5,275 (+18.9%), from €27,880 to €33,156
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 | €123,024 | €159,141 | +€36,117 | +29.4% |
| Fixed assets | 21/28 | €3,591 | €2,263 | -€1,328 | -37.0% |
| Tangible fixed assets | 22/27 | €3,591 | €2,263 | -€1,328 | -37.0% |
| Plant, machinery and equipment | 23 | €2,788 | €1,804 | -€984 | -35.3% |
| Furniture and vehicles | 24 | €803 | €459 | -€344 | -42.9% |
| Current assets | 29/58 | €119,433 | €156,878 | +€37,445 | +31.4% |
| Amounts receivable within one year | 40/41 | €2,317 | €2,373 | +€56 | +2.4% |
| Other amounts receivable | 41 | €2,317 | €2,373 | +€56 | +2.4% |
| Current investments | 50/53 | €25,649 | - | -€25,649 | |
| Cash at bank and in hand | 54/58 | €89,947 | €152,854 | +€62,906 | +69.9% |
| Deferred charges and accrued income | 490/1 | €1,520 | €1,651 | +€131 | +8.6% |
| Total equity and liabilities | 10/49 | €123,024 | €159,141 | +€36,117 | +29.4% |
| Equity | 10/15 | €38,657 | €22,000 | -€16,657 | -43.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €18,657 | €2,000 | -€16,657 | -89.3% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €16,657 | - | -€16,657 | |
| Amounts payable | 17/49 | €84,367 | €137,141 | +€52,774 | +62.6% |
| Amounts payable within one year | 42/48 | €84,367 | €137,141 | +€52,774 | +62.6% |
| Trade debts | 44 | €2,120 | €2,032 | -€88 | -4.1% |
| Suppliers | 440/4 | €2,120 | €2,032 | -€88 | -4.1% |
| Taxes, remuneration and social security | 45 | €2,247 | €3,907 | +€1,660 | +73.9% |
| Taxes | 450/3 | €2,247 | €3,907 | +€1,660 | +73.9% |
| Other amounts payable | 47/48 | €80,000 | €131,202 | +€51,202 | +64.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,213 | €1,328 | +€115 | +9.5% |
| Other operating charges | 640/8 | €250 | €183 | -€67 | -26.8% |
| Gross operating margin | 9900 | €125,559 | €148,873 | +€23,314 | +18.6% |
| Operating profit (loss) | 9901 | €124,096 | €147,362 | +€23,266 | +18.7% |
| Financial income | 75/76B | €788 | €870 | +€82 | +10.3% |
| Recurring financial income | 75 | €788 | €870 | +€82 | +10.3% |
| Financial charges | 65/66B | €745 | €588 | -€156 | -21.0% |
| Recurring financial charges | 65 | €745 | €588 | -€156 | -21.0% |
| Profit (loss) for the period before taxes | 9903 | €124,139 | €147,643 | +€23,504 | +18.9% |
| Income taxes | 67/77 | €27,880 | €33,156 | +€5,275 | +18.9% |
| Profit (loss) for the period | 9904 | €96,259 | €114,487 | +€18,229 | +18.9% |
| Profit (loss) for the period to be appropriated | 9905 | €96,259 | €114,487 | +€18,229 | +18.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.