LDM Boat Design: 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.
LDM Boat Design
Largest movements
- Tangible fixed assets +€88,836
up €88,836 (+182%), from €48,850 to €137,686
of which Plant, machinery and equipment: +€95,144
- Cash +€52,265
up €52,265 (+161%), from €32,556 to €84,821
mainly Debts after one year (+€65,980) and Current investments (+€34,037)
- Current investments -€34,037
no longer reported in 2025 (was €34,037)
- Stocks and contracts -€15,337
down €15,337 (-35.9%), from €42,709 to €27,372
of which Contracts in progress: -€32,225
- Debts after one year +€65,980
new in 2025: €65,980
- Current portion of long-term debt +€17,071
new in 2025: €17,071
- Trade debts +€9,840
up €9,840 (+18.0%), from €54,664 to €64,504
- Tax, wage and social debts -€9,281
down €9,281 (-33.9%), from €27,365 to €18,084
of which Taxes: -€9,556
- Reserves +€5,000
up €5,000 (+3.2%), from €155,000 to €160,000
- Gross operating margin +€46,845
up €46,845 (+195%), from €24,035 to €70,880
- Depreciation +€12,798
up €12,798 (+171%), from €7,496 to €20,294
- Taxes +€4,001
up €4,001 (+103%), from €3,903 to €7,904
- Financial income -€1,763
down €1,763 (-86.9%), from €2,029 to €266
- Financial charges +€1,506
up €1,506 (+140%), from €1,075 to €2,581
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 | €268,858 | €356,212 | +€87,354 | +32.5% |
| Fixed assets | 21/28 | €48,902 | €137,738 | +€88,836 | +182% |
| Tangible fixed assets | 22/27 | €48,850 | €137,686 | +€88,836 | +182% |
| Plant, machinery and equipment | 23 | €10,750 | €105,894 | +€95,144 | +885% |
| Furniture and vehicles | 24 | €38,100 | €31,792 | -€6,308 | -16.6% |
| Financial fixed assets | 28 | €52 | €52 | +€0 | +0.6% |
| Current assets | 29/58 | €219,956 | €218,474 | -€1,482 | -0.7% |
| Stocks and contracts in progress | 3 | €42,709 | €27,372 | -€15,337 | -35.9% |
| Stocks | 30/36 | €10,484 | €27,372 | +€16,888 | +161% |
| Contracts in progress | 37 | €32,225 | - | -€32,225 | |
| Amounts receivable within one year | 40/41 | €108,003 | €105,769 | -€2,234 | -2.1% |
| Trade receivables | 40 | - | €87,959 | +€87,959 | |
| Other amounts receivable | 41 | €108,003 | €17,811 | -€90,192 | -83.5% |
| Current investments | 50/53 | €34,037 | - | -€34,037 | |
| Cash at bank and in hand | 54/58 | €32,556 | €84,821 | +€52,265 | +161% |
| Deferred charges and accrued income | 490/1 | €2,651 | €511 | -€2,140 | -80.7% |
| Total equity and liabilities | 10/49 | €268,858 | €356,212 | +€87,354 | +32.5% |
| Equity | 10/15 | €186,829 | €190,573 | +€3,744 | +2.0% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €155,000 | €160,000 | +€5,000 | +3.2% |
| Distributable reserves | 133 | €155,000 | €160,000 | +€5,000 | +3.2% |
| Profit (loss) carried forward | 14 | €1,829 | €573 | -€1,256 | -68.7% |
| Amounts payable | 17/49 | €82,029 | €165,639 | +€83,610 | +102% |
| Amounts payable after more than one year | 17 | - | €65,980 | +€65,980 | |
| Financial debts | 170/4 | - | €65,980 | +€65,980 | |
| Amounts payable within one year | 42/48 | €82,029 | €99,658 | +€17,629 | +21.5% |
| Current portion of amounts payable after more than one year | 42 | - | €17,071 | +€17,071 | |
| Trade debts | 44 | €54,664 | €64,504 | +€9,840 | +18.0% |
| Suppliers | 440/4 | €54,664 | €64,504 | +€9,840 | +18.0% |
| Taxes, remuneration and social security | 45 | €27,365 | €18,084 | -€9,281 | -33.9% |
| Taxes | 450/3 | €24,647 | €15,091 | -€9,556 | -38.8% |
| Remuneration and social security | 454/9 | €2,718 | €2,993 | +€275 | +10.1% |
| Non-recurring operating income | 76A | - | €2,500 | +€2,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,496 | €20,294 | +€12,798 | +171% |
| Other operating charges | 640/8 | €331 | €237 | -€94 | -28.3% |
| Non-recurring operating charges | 66A | - | €11,278 | +€11,278 | |
| Gross operating margin | 9900 | €24,035 | €70,880 | +€46,845 | +195% |
| Operating profit (loss) | 9901 | €16,208 | €39,071 | +€22,863 | +141% |
| Financial income | 75/76B | €2,029 | €266 | -€1,763 | -86.9% |
| Recurring financial income | 75 | €2,029 | €266 | -€1,763 | -86.9% |
| Financial charges | 65/66B | €1,075 | €2,581 | +€1,506 | +140% |
| Recurring financial charges | 65 | €1,075 | €2,581 | +€1,506 | +140% |
| Profit (loss) for the period before taxes | 9903 | €17,162 | €36,755 | +€19,593 | +114% |
| Income taxes | 67/77 | €3,903 | €7,904 | +€4,001 | +103% |
| Profit (loss) for the period | 9904 | €13,259 | €28,851 | +€15,592 | +118% |
| Profit (loss) for the period to be appropriated | 9905 | €13,259 | €28,851 | +€15,592 | +118% |
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 27 October 2026 via checked.be.