LDC: 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.
LDC
Largest movements
- Cash -€9,715
down €9,715 (-15.9%), from €61,017 to €51,302
mainly Trade debts (-€17,480) and Investment in fixed assets (net) (-€9,243)
- Tangible fixed assets +€6,845
up €6,845 (+147.8%), from €4,633 to €11,477
- Stocks and contracts -€6,419
down €6,419 (-8.7%), from €73,480 to €67,062
- Deferred charges and accrued income +€5,837
up €5,837 (+97.8%), from €5,968 to €11,804
- Receivables within one year -€5,485
down €5,485 (-46.7%), from €11,745 to €6,260
of which Other amounts receivable: -€5,485
- Trade debts -€17,480
down €17,480 (-19.9%), from €87,631 to €70,151
- Reserves +€5,198
up €5,198 (+23.4%), from €22,186 to €27,384
of which Distributable reserves: +€7,058
- Tax, wage and social debts +€3,440
up €3,440 (+18.0%), from €19,157 to €22,597
of which Taxes: +€2,703
- Gross operating margin +€5,908
up €5,908 (+62.9%), from €9,389 to €15,296
- Other operating charges -€2,784
down €2,784 (-81.6%), from €3,413 to €628
- Taxes +€1,804
up €1,804 (+173.9%), from €1,037 to €2,841
- Depreciation +€1,282
up €1,282 (+125.7%), from €1,020 to €2,303
- Staff costs +€1,007
up €1,007 (+40.7%), from €2,474 to €3,481
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 | €169,353 | €160,512 | -€8,842 | -5.2% |
| Fixed assets | 21/28 | €17,143 | €24,083 | +€6,940 | +40.5% |
| Tangible fixed assets | 22/27 | €4,633 | €11,477 | +€6,845 | +147.8% |
| Plant, machinery and equipment | 23 | €2,092 | €4,280 | +€2,188 | +104.6% |
| Furniture and vehicles | 24 | - | €2,381 | +€2,381 | |
| Other tangible fixed assets | 26 | €2,540 | €4,816 | +€2,276 | +89.6% |
| Financial fixed assets | 28 | €12,511 | €12,606 | +€95 | +0.8% |
| Current assets | 29/58 | €152,210 | €136,428 | -€15,782 | -10.4% |
| Stocks and contracts in progress | 3 | €73,480 | €67,062 | -€6,419 | -8.7% |
| Stocks | 30/36 | €73,480 | €67,062 | -€6,419 | -8.7% |
| Amounts receivable within one year | 40/41 | €11,745 | €6,260 | -€5,485 | -46.7% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €11,745 | €6,260 | -€5,485 | -46.7% |
| Cash at bank and in hand | 54/58 | €61,017 | €51,302 | -€9,715 | -15.9% |
| Deferred charges and accrued income | 490/1 | €5,968 | €11,804 | +€5,837 | +97.8% |
| Total equity and liabilities | 10/49 | €169,353 | €160,512 | -€8,842 | -5.2% |
| Equity | 10/15 | €62,565 | €67,763 | +€5,198 | +8.3% |
| Contributions | 10/11 | €11,000 | €11,000 | = | 0.0% |
| Reserves | 13 | €22,186 | €27,384 | +€5,198 | +23.4% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Distributable reserves | 133 | €20,326 | €27,384 | +€7,058 | +34.7% |
| Profit (loss) carried forward | 14 | €29,379 | €29,379 | = | 0.0% |
| Amounts payable | 17/49 | €106,788 | €92,748 | -€14,040 | -13.1% |
| Amounts payable within one year | 42/48 | €106,788 | €92,748 | -€14,040 | -13.1% |
| Trade debts | 44 | €87,631 | €70,151 | -€17,480 | -19.9% |
| Suppliers | 440/4 | €87,631 | €70,151 | -€17,480 | -19.9% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €19,157 | €22,597 | +€3,440 | +18.0% |
| Taxes | 450/3 | €19,157 | €21,861 | +€2,703 | +14.1% |
| Remuneration and social security | 454/9 | €0 | €737 | +€737 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €2,474 | €3,481 | +€1,007 | +40.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,020 | €2,303 | +€1,282 | +125.7% |
| Other operating charges | 640/8 | €3,413 | €628 | -€2,784 | -81.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €9,389 | €15,296 | +€5,908 | +62.9% |
| Operating profit (loss) | 9901 | €2,482 | €8,884 | +€6,402 | +258.0% |
| Financial income | 75/76B | €116 | €178 | +€62 | +53.5% |
| Recurring financial income | 75 | €116 | €178 | +€62 | +53.5% |
| Financial charges | 65/66B | €467 | €1,023 | +€555 | +118.8% |
| Recurring financial charges | 65 | €467 | €1,023 | +€555 | +118.8% |
| Profit (loss) for the period before taxes | 9903 | €2,130 | €8,039 | +€5,909 | +277.4% |
| Income taxes | 67/77 | €1,037 | €2,841 | +€1,804 | +173.9% |
| Profit (loss) for the period | 9904 | €1,093 | €5,198 | +€4,105 | +375.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,093 | €5,198 | +€4,105 | +375.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.