LDJ: 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.
LDJ
Largest movements
- Current investments -€14,696
down €14,696 (-11.2%), from €131,782 to €117,086
- Tangible fixed assets -€13,655
down €13,655 (-22.5%), from €60,626 to €46,971
- Receivables after one year -€8,890
no longer reported in 2025 (was €8,890)
- Cash +€5,387
up €5,387 (+35.8%), from €15,046 to €20,433
mainly Current investments (+€14,696) and Depreciation (+€13,655)
- Reserves -€12,533
down €12,533 (-3.2%), from €392,170 to €379,637
of which Distributable reserves: -€12,533
- Current portion of long-term debt -€11,024
down €11,024 (-55.0%), from €20,053 to €9,029
- Debts after one year -€9,029
no longer reported in 2025 (was €9,029)
- Other debts +€5,546
up €5,546 (+37.0%), from €15,000 to €20,546
- Tax, wage and social debts -€4,896
down €4,896 (-51.9%), from €9,434 to €4,538
- Gross operating margin -€42,529
down €42,529 (-69.0%), from €61,655 to €19,126
- Taxes -€15,864
down €15,864 (-85.6%), from €18,525 to €2,661
- Depreciation +€6,511
up €6,511 (+91.1%), from €7,144 to €13,655
- Financial income -€667
down €667 (-19.5%), from €3,422 to €2,755
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 | €465,862 | €432,872 | -€32,990 | -7.1% |
| Fixed assets | 21/28 | €60,626 | €46,971 | -€13,655 | -22.5% |
| Tangible fixed assets | 22/27 | €60,626 | €46,971 | -€13,655 | -22.5% |
| Furniture and vehicles | 24 | €60,626 | €46,971 | -€13,655 | -22.5% |
| Current assets | 29/58 | €405,236 | €385,901 | -€19,335 | -4.8% |
| Amounts receivable after more than one year | 29 | €8,890 | - | -€8,890 | |
| Other amounts receivable | 291 | €8,890 | - | -€8,890 | |
| Amounts receivable within one year | 40/41 | €249,518 | €248,382 | -€1,136 | -0.5% |
| Trade receivables | 40 | €24,897 | €23,515 | -€1,382 | -5.6% |
| Other amounts receivable | 41 | €224,621 | €224,867 | +€246 | +0.1% |
| Current investments | 50/53 | €131,782 | €117,086 | -€14,696 | -11.2% |
| Cash at bank and in hand | 54/58 | €15,046 | €20,433 | +€5,387 | +35.8% |
| Total equity and liabilities | 10/49 | €465,862 | €432,872 | -€32,990 | -7.1% |
| Equity | 10/15 | €410,762 | €398,229 | -€12,533 | -3.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €392,170 | €379,637 | -€12,533 | -3.2% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,589 | €11,589 | = | 0.0% |
| Distributable reserves | 133 | €378,722 | €366,189 | -€12,533 | -3.3% |
| Amounts payable | 17/49 | €55,100 | €34,643 | -€20,457 | -37.1% |
| Amounts payable after more than one year | 17 | €9,029 | - | -€9,029 | |
| Financial debts | 170/4 | €9,029 | - | -€9,029 | |
| Amounts payable within one year | 42/48 | €46,071 | €34,643 | -€11,428 | -24.8% |
| Current portion of amounts payable after more than one year | 42 | €20,053 | €9,029 | -€11,024 | -55.0% |
| Trade debts | 44 | €1,584 | €235 | -€1,349 | -85.2% |
| Suppliers | 440/4 | €1,584 | €235 | -€1,349 | -85.2% |
| Advances received on contracts in progress | 46 | - | €295 | +€295 | |
| Taxes, remuneration and social security | 45 | €9,434 | €4,538 | -€4,896 | -51.9% |
| Taxes | 450/3 | €9,434 | €4,538 | -€4,896 | -51.9% |
| Other amounts payable | 47/48 | €15,000 | €20,546 | +€5,546 | +37.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,144 | €13,655 | +€6,511 | +91.1% |
| Other operating charges | 640/8 | €513 | €827 | +€314 | +61.2% |
| Gross operating margin | 9900 | €61,655 | €19,126 | -€42,529 | -69.0% |
| Operating profit (loss) | 9901 | €53,998 | €4,644 | -€49,354 | -91.4% |
| Financial income | 75/76B | €3,422 | €2,755 | -€667 | -19.5% |
| Recurring financial income | 75 | €3,422 | €2,755 | -€667 | -19.5% |
| Financial charges | 65/66B | €1,043 | €1,412 | +€369 | +35.4% |
| Recurring financial charges | 65 | €1,043 | €1,412 | +€369 | +35.4% |
| Profit (loss) for the period before taxes | 9903 | €56,377 | €5,987 | -€50,390 | -89.4% |
| Income taxes | 67/77 | €18,525 | €2,661 | -€15,864 | -85.6% |
| Profit (loss) for the period | 9904 | €37,852 | €3,326 | -€34,526 | -91.2% |
| Profit (loss) for the period to be appropriated | 9905 | €37,852 | €3,326 | -€34,526 | -91.2% |
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 10 October 2026 via checked.be.