LDG Concept: 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.
LDG Concept
Largest movements
- Tangible fixed assets +€66,120
up €66,120 (+68.7%), from €96,235 to €162,356
of which Plant, machinery and equipment: +€41,905
- Cash -€43,977
down €43,977 (-46.5%), from €94,665 to €50,688
mainly Investment in fixed assets (net) (-€92,518) and Other debts (-€44,784)
- Receivables within one year +€4,406
up €4,406 (+80.6%), from €5,467 to €9,873
of which Other amounts receivable: +€7,755
- Profit (loss) carried forward +€48,680
up €48,680 (+110%), from €44,274 to €92,954
- Other debts -€44,784
down €44,784 (-41.5%), from €108,031 to €63,247
- Debts after one year +€13,381
up €13,381 (+73.6%), from €18,179 to €31,560
- Tax, wage and social debts +€6,601
up €6,601 (+76.2%), from €8,662 to €15,263
of which Taxes: +€6,601
- Gross operating margin +€24,467
up €24,467 (+37.0%), from €66,065 to €90,532
- Depreciation -€12,767
down €12,767 (-32.6%), from €39,165 to €26,398
- Taxes +€6,840
up €6,840 (+129%), from €5,323 to €12,163
- Financial charges +€1,166
up €1,166 (+123%), from €948 to €2,115
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 | €198,465 | €224,323 | +€25,858 | +13.0% |
| Fixed assets | 21/28 | €96,235 | €162,356 | +€66,120 | +68.7% |
| Tangible fixed assets | 22/27 | €96,235 | €162,356 | +€66,120 | +68.7% |
| Land and buildings | 22 | €36,515 | €34,335 | -€2,180 | -6.0% |
| Plant, machinery and equipment | 23 | €38,423 | €80,329 | +€41,905 | +109% |
| Furniture and vehicles | 24 | €21,297 | €47,692 | +€26,395 | +124% |
| Current assets | 29/58 | €102,230 | €61,967 | -€40,263 | -39.4% |
| Amounts receivable within one year | 40/41 | €5,467 | €9,873 | +€4,406 | +80.6% |
| Trade receivables | 40 | €5,467 | €2,118 | -€3,350 | -61.3% |
| Other amounts receivable | 41 | - | €7,755 | +€7,755 | |
| Cash at bank and in hand | 54/58 | €94,665 | €50,688 | -€43,977 | -46.5% |
| Deferred charges and accrued income | 490/1 | €2,098 | €1,406 | -€692 | -33.0% |
| Total equity and liabilities | 10/49 | €198,465 | €224,323 | +€25,858 | +13.0% |
| Equity | 10/15 | €47,274 | €95,954 | +€48,680 | +103% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,274 | €92,954 | +€48,680 | +110% |
| Amounts payable | 17/49 | €151,191 | €128,369 | -€22,823 | -15.1% |
| Amounts payable after more than one year | 17 | €18,179 | €31,560 | +€13,381 | +73.6% |
| Financial debts | 170/4 | €18,179 | €31,560 | +€13,381 | +73.6% |
| Amounts payable within one year | 42/48 | €133,012 | €96,808 | -€36,204 | -27.2% |
| Current portion of amounts payable after more than one year | 42 | €15,165 | €17,260 | +€2,095 | +13.8% |
| Trade debts | 44 | €1,155 | €1,038 | -€116 | -10.1% |
| Suppliers | 440/4 | €1,155 | €1,038 | -€116 | -10.1% |
| Taxes, remuneration and social security | 45 | €8,662 | €15,263 | +€6,601 | +76.2% |
| Taxes | 450/3 | €6,662 | €13,263 | +€6,601 | +99.1% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €108,031 | €63,247 | -€44,784 | -41.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,165 | €26,398 | -€12,767 | -32.6% |
| Other operating charges | 640/8 | €1,102 | €1,176 | +€74 | +6.7% |
| Gross operating margin | 9900 | €66,065 | €90,532 | +€24,467 | +37.0% |
| Operating profit (loss) | 9901 | €25,798 | €62,958 | +€37,160 | +144% |
| Financial income | 75/76B | €1 | €0 | -€1 | -62.4% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -62.4% |
| Financial charges | 65/66B | €948 | €2,115 | +€1,166 | +123% |
| Recurring financial charges | 65 | €948 | €2,115 | +€1,166 | +123% |
| Profit (loss) for the period before taxes | 9903 | €24,850 | €60,843 | +€35,993 | +145% |
| Income taxes | 67/77 | €5,323 | €12,163 | +€6,840 | +129% |
| Profit (loss) for the period | 9904 | €19,528 | €48,680 | +€29,153 | +149% |
| Profit (loss) for the period to be appropriated | 9905 | €19,528 | €48,680 | +€29,153 | +149% |
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 15 October 2026 via checked.be.