LDENT: 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.
LDENT
Largest movements
- Receivables within one year -€40,362
down €40,362 (-86.1%), from €46,903 to €6,541
- Cash -€28,711
down €28,711 (-39.4%), from €72,827 to €44,116
mainly Contributions, distributions and other (-€232,368) and Current investments (-€25,000)
- Current investments +€25,000
new in 2025: €25,000
- Tangible fixed assets +€9,753
up €9,753 (+63.1%), from €15,452 to €25,205
of which Plant, machinery and equipment: +€11,786
- Reserves -€94,017
down €94,017 (-71.5%), from €131,532 to €37,515
- Other debts +€56,403
new in 2025: €56,403
- Tax, wage and social debts +€3,014
up €3,014, from €0 to €3,014
- Gross operating margin +€90,307
up €90,307 (+91.8%), from €98,393 to €188,700
- Taxes +€22,103
up €22,103 (+117%), from €18,911 to €41,014
- Depreciation +€5,991
up €5,991 (+264%), from €2,268 to €8,259
- Financial income -€2,254
down €2,254 (-89.0%), from €2,533 to €279
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 | €136,287 | €101,066 | -€35,222 | -25.8% |
| Fixed assets | 21/28 | €15,452 | €25,205 | +€9,753 | +63.1% |
| Tangible fixed assets | 22/27 | €15,452 | €25,205 | +€9,753 | +63.1% |
| Plant, machinery and equipment | 23 | €5,480 | €17,266 | +€11,786 | +215% |
| Furniture and vehicles | 24 | €2,411 | €1,102 | -€1,309 | -54.3% |
| Other tangible fixed assets | 26 | €7,560 | €6,837 | -€724 | -9.6% |
| Current assets | 29/58 | €120,835 | €75,860 | -€44,975 | -37.2% |
| Amounts receivable within one year | 40/41 | €46,903 | €6,541 | -€40,362 | -86.1% |
| Other amounts receivable | 41 | €46,903 | €6,541 | -€40,362 | -86.1% |
| Current investments | 50/53 | - | €25,000 | +€25,000 | |
| Cash at bank and in hand | 54/58 | €72,827 | €44,116 | -€28,711 | -39.4% |
| Deferred charges and accrued income | 490/1 | €1,106 | €203 | -€902 | -81.6% |
| Total equity and liabilities | 10/49 | €136,287 | €101,066 | -€35,222 | -25.8% |
| Equity | 10/15 | €135,032 | €41,015 | -€94,017 | -69.6% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €131,532 | €37,515 | -€94,017 | -71.5% |
| Distributable reserves | 133 | €131,532 | €37,515 | -€94,017 | -71.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,256 | €60,051 | +€58,795 | +4,683% |
| Amounts payable within one year | 42/48 | €1,256 | €60,051 | +€58,795 | +4,683% |
| Trade debts | 44 | €1,256 | €633 | -€623 | -49.6% |
| Suppliers | 440/4 | €1,256 | €633 | -€623 | -49.6% |
| Taxes, remuneration and social security | 45 | €0 | €3,014 | +€3,014 | |
| Taxes | 450/3 | €0 | €3,014 | +€3,014 | |
| Other amounts payable | 47/48 | - | €56,403 | +€56,403 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,268 | €8,259 | +€5,991 | +264% |
| Other operating charges | 640/8 | €892 | €1,177 | +€286 | +32.0% |
| Gross operating margin | 9900 | €98,393 | €188,700 | +€90,307 | +91.8% |
| Operating profit (loss) | 9901 | €95,234 | €179,264 | +€84,031 | +88.2% |
| Financial income | 75/76B | €2,533 | €279 | -€2,254 | -89.0% |
| Recurring financial income | 75 | €2,533 | €279 | -€2,254 | -89.0% |
| Financial charges | 65/66B | €135 | €179 | +€44 | +32.3% |
| Recurring financial charges | 65 | €135 | €179 | +€44 | +32.3% |
| Profit (loss) for the period before taxes | 9903 | €97,632 | €179,365 | +€81,733 | +83.7% |
| Income taxes | 67/77 | €18,911 | €41,014 | +€22,103 | +117% |
| Profit (loss) for the period | 9904 | €78,721 | €138,351 | +€59,630 | +75.7% |
| Profit (loss) for the period to be appropriated | 9905 | €78,721 | €138,351 | +€59,630 | +75.7% |
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 14 October 2026 via checked.be.