LDC-BULTÉ: 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-BULTÉ
Largest movements
- Receivables within one year +€19,927
up €19,927 (+51.5%), from €38,723 to €58,650
- Tangible fixed assets -€16,588
down €16,588 (-2.1%), from €786,366 to €769,778
of which Land and buildings: -€17,248
- Other debts -€45,130
down €45,130 (-12.4%), from €363,604 to €318,474
- Reserves +€38,625
up €38,625 (+22.0%), from €175,306 to €213,930
- Trade debts -€17,653
down €17,653 (-98.6%), from €17,908 to €255
- Tax, wage and social debts +€15,936
up €15,936 (+160%), from €9,978 to €25,914
- Accrued charges and deferred income +€11,754
up €11,754 (+425%), from €2,766 to €14,519
- Other operating charges -€36,911
down €36,911 (-72.9%), from €50,630 to €13,719
- Taxes +€11,614
up €11,614 (+119%), from €9,745 to €21,359
- Depreciation +€6,453
up €6,453 (+8.5%), from €75,531 to €81,984
- Gross operating margin +€2,602
up €2,602 (+1.6%), from €163,755 to €166,357
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.
Derived cash bridge
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 | €1,107,543 | €1,110,197 | +€2,654 | +0.2% |
| Fixed assets | 21/28 | €1,036,367 | €1,019,779 | -€16,588 | -1.6% |
| Tangible fixed assets | 22/27 | €786,366 | €769,778 | -€16,588 | -2.1% |
| Land and buildings | 22 | €783,838 | €766,590 | -€17,248 | -2.2% |
| Plant, machinery and equipment | 23 | €371 | €1,965 | +€1,593 | +429% |
| Furniture and vehicles | 24 | €2,157 | €1,224 | -€933 | -43.3% |
| Financial fixed assets | 28 | €250,001 | €250,001 | = | 0.0% |
| Current assets | 29/58 | €71,176 | €90,417 | +€19,242 | +27.0% |
| Amounts receivable within one year | 40/41 | €38,723 | €58,650 | +€19,927 | +51.5% |
| Trade receivables | 40 | €38,723 | €58,650 | +€19,927 | +51.5% |
| Cash at bank and in hand | 54/58 | €7,398 | €6,187 | -€1,210 | -16.4% |
| Deferred charges and accrued income | 490/1 | €25,055 | €25,580 | +€525 | +2.1% |
| Total equity and liabilities | 10/49 | €1,107,543 | €1,110,197 | +€2,654 | +0.2% |
| Equity | 10/15 | €346,483 | €385,107 | +€38,625 | +11.1% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €175,306 | €213,930 | +€38,625 | +22.0% |
| Distributable reserves | 133 | €175,306 | €213,930 | +€38,625 | +22.0% |
| Profit (loss) carried forward | 14 | -€78,823 | -€78,823 | = | 0.0% |
| Amounts payable | 17/49 | €761,060 | €725,089 | -€35,971 | -4.7% |
| Amounts payable after more than one year | 17 | €318,183 | €309,866 | -€8,317 | -2.6% |
| Financial debts | 170/4 | €318,183 | €309,866 | -€8,317 | -2.6% |
| Amounts payable within one year | 42/48 | €440,112 | €400,704 | -€39,407 | -9.0% |
| Current portion of amounts payable after more than one year | 42 | €48,621 | €56,061 | +€7,439 | +15.3% |
| Trade debts | 44 | €17,908 | €255 | -€17,653 | -98.6% |
| Suppliers | 440/4 | €17,908 | €255 | -€17,653 | -98.6% |
| Taxes, remuneration and social security | 45 | €9,978 | €25,914 | +€15,936 | +160% |
| Taxes | 450/3 | €9,978 | €25,914 | +€15,936 | +160% |
| Other amounts payable | 47/48 | €363,604 | €318,474 | -€45,130 | -12.4% |
| Accrued charges and deferred income | 492/3 | €2,766 | €14,519 | +€11,754 | +425% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,531 | €81,984 | +€6,453 | +8.5% |
| Other operating charges | 640/8 | €50,630 | €13,719 | -€36,911 | -72.9% |
| Gross operating margin | 9900 | €163,755 | €166,357 | +€2,602 | +1.6% |
| Operating profit (loss) | 9901 | €37,594 | €70,655 | +€33,060 | +87.9% |
| Financial income | 75/76B | €4 | €19 | +€16 | +447% |
| Recurring financial income | 75 | €4 | €19 | +€16 | +447% |
| Financial charges | 65/66B | €9,882 | €10,691 | +€809 | +8.2% |
| Recurring financial charges | 65 | €9,882 | €10,691 | +€809 | +8.2% |
| Profit (loss) for the period before taxes | 9903 | €27,716 | €59,983 | +€32,268 | +116% |
| Income taxes | 67/77 | €9,745 | €21,359 | +€11,614 | +119% |
| Profit (loss) for the period | 9904 | €17,970 | €38,625 | +€20,654 | +115% |
| Profit (loss) for the period to be appropriated | 9905 | €17,970 | €38,625 | +€20,654 | +115% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.