LDL MANAGEMENT: 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.
LDL MANAGEMENT
Largest movements
- Tangible fixed assets +€197,550
up €197,550 (+206%), from €95,825 to €293,375
of which Other tangible fixed assets: +€203,263
- Cash -€28,547
down €28,547 (-42.9%), from €66,589 to €38,042
mainly Investment in fixed assets (net) (-€220,265) and Net result for the year (-€5,912)
- Receivables within one year -€17,179
down €17,179 (-36.0%), from €47,676 to €30,497
of which Other amounts receivable: -€22,598
- Debts after one year +€131,866
new in 2025: €131,866
- Current portion of long-term debt +€28,707
new in 2025: €28,707
- Tax, wage and social debts +€9,990
up €9,990 (+632%), from €1,579 to €11,569
- Reserves -€6,745
down €6,745 (-4.1%), from €165,928 to €159,183
- Other debts -€5,802
down €5,802 (-40.0%), from €14,514 to €8,712
- Gross operating margin -€25,863
down €25,863 (-52.3%), from €49,415 to €23,552
- Depreciation +€14,002
up €14,002 (+161%), from €8,713 to €22,715
- Taxes -€9,291
down €9,291 (-87.8%), from €10,578 to €1,287
- Financial charges +€3,826
up €3,826 (+1,129%), from €339 to €4,164
- Other operating charges +€794
up €794 (+63.0%), from €1,261 to €2,055
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 | €212,993 | €367,785 | +€154,792 | +72.7% |
| Fixed assets | 21/28 | €95,825 | €293,375 | +€197,550 | +206% |
| Tangible fixed assets | 22/27 | €95,825 | €293,375 | +€197,550 | +206% |
| Land and buildings | 22 | €66,327 | €61,695 | -€4,632 | -7.0% |
| Plant, machinery and equipment | 23 | €8,481 | €8,486 | +€6 | +0.1% |
| Furniture and vehicles | 24 | €3,327 | €2,239 | -€1,087 | -32.7% |
| Other tangible fixed assets | 26 | €17,691 | €220,954 | +€203,263 | +1,149% |
| Current assets | 29/58 | €117,168 | €74,410 | -€42,758 | -36.5% |
| Amounts receivable within one year | 40/41 | €47,676 | €30,497 | -€17,179 | -36.0% |
| Trade receivables | 40 | €15,525 | €20,944 | +€5,419 | +34.9% |
| Other amounts receivable | 41 | €32,151 | €9,553 | -€22,598 | -70.3% |
| Cash at bank and in hand | 54/58 | €66,589 | €38,042 | -€28,547 | -42.9% |
| Deferred charges and accrued income | 490/1 | €2,903 | €5,871 | +€2,967 | +102% |
| Total equity and liabilities | 10/49 | €212,993 | €367,785 | +€154,792 | +72.7% |
| Equity | 10/15 | €184,528 | €177,783 | -€6,745 | -3.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €165,928 | €159,183 | -€6,745 | -4.1% |
| Distributable reserves | 133 | €165,928 | €159,183 | -€6,745 | -4.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €28,466 | €190,002 | +€161,537 | +567% |
| Amounts payable after more than one year | 17 | - | €131,866 | +€131,866 | |
| Financial debts | 170/4 | - | €131,866 | +€131,866 | |
| Amounts payable within one year | 42/48 | €25,110 | €52,897 | +€27,788 | +111% |
| Current portion of amounts payable after more than one year | 42 | - | €28,707 | +€28,707 | |
| Trade debts | 44 | €9,016 | €3,909 | -€5,107 | -56.6% |
| Suppliers | 440/4 | €9,016 | €3,909 | -€5,107 | -56.6% |
| Taxes, remuneration and social security | 45 | €1,579 | €11,569 | +€9,990 | +632% |
| Taxes | 450/3 | €1,579 | €11,569 | +€9,990 | +632% |
| Other amounts payable | 47/48 | €14,514 | €8,712 | -€5,802 | -40.0% |
| Accrued charges and deferred income | 492/3 | €3,356 | €5,240 | +€1,884 | +56.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,713 | €22,715 | +€14,002 | +161% |
| Other operating charges | 640/8 | €1,261 | €2,055 | +€794 | +63.0% |
| Gross operating margin | 9900 | €49,415 | €23,552 | -€25,863 | -52.3% |
| Operating profit (loss) | 9901 | €39,442 | -€1,217 | -€40,659 | |
| Financial income | 75/76B | €5 | €757 | +€752 | +15,289% |
| Recurring financial income | 75 | €5 | €757 | +€752 | +15,289% |
| Financial charges | 65/66B | €339 | €4,164 | +€3,826 | +1,129% |
| Recurring financial charges | 65 | €339 | €4,164 | +€3,826 | +1,129% |
| Profit (loss) for the period before taxes | 9903 | €39,108 | -€4,625 | -€43,733 | |
| Income taxes | 67/77 | €10,578 | €1,287 | -€9,291 | -87.8% |
| Profit (loss) for the period | 9904 | €28,530 | -€5,912 | -€34,442 | |
| Profit (loss) for the period to be appropriated | 9905 | €28,530 | -€5,912 | -€34,442 |
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 18 October 2026 via checked.be.