LDN: 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.
LDN
Largest movements
- Cash -€26,891
down €26,891 (-31.6%), from €85,148 to €58,257
mainly Other debts (-€11,760) and Tax, wage and social debts (-€9,950)
- Receivables within one year -€5,300
down €5,300 (-46.5%), from €11,386 to €6,087
of which Trade receivables: -€10,237
- Tangible fixed assets -€3,822
down €3,822 (-67.7%), from €5,645 to €1,823
of which Plant, machinery and equipment: -€4,990
- Other debts -€11,760
down €11,760 (-27.7%), from €42,508 to €30,747
- Tax, wage and social debts -€9,950
down €9,950 (-46.9%), from €21,202 to €11,253
- Profit (loss) carried forward -€8,001
down €8,001 (-26.2%), from €30,512 to €22,511
- Trade debts -€5,800
down €5,800 (-96.0%), from €6,041 to €240
- Gross operating margin -€47,676
down €47,676 (-91.8%), from €51,918 to €4,242
- Taxes -€8,527
down €8,527 (-88.9%), from €9,589 to €1,063
- Financial charges -€2,235
down €2,235 (-95.6%), from €2,338 to €103
- Other operating charges +€2,177
up €2,177 (+56.0%), from €3,889 to €6,066
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 | €103,912 | €68,081 | -€35,831 | -34.5% |
| Fixed assets | 21/28 | €5,645 | €1,823 | -€3,822 | -67.7% |
| Tangible fixed assets | 22/27 | €5,645 | €1,823 | -€3,822 | -67.7% |
| Plant, machinery and equipment | 23 | €5,645 | €654 | -€4,990 | -88.4% |
| Other tangible fixed assets | 26 | - | €1,168 | +€1,168 | |
| Current assets | 29/58 | €98,268 | €66,258 | -€32,009 | -32.6% |
| Amounts receivable within one year | 40/41 | €11,386 | €6,087 | -€5,300 | -46.5% |
| Trade receivables | 40 | €11,386 | €1,150 | -€10,237 | -89.9% |
| Other amounts receivable | 41 | - | €4,937 | +€4,937 | |
| Cash at bank and in hand | 54/58 | €85,148 | €58,257 | -€26,891 | -31.6% |
| Deferred charges and accrued income | 490/1 | €1,733 | €1,915 | +€182 | +10.5% |
| Total equity and liabilities | 10/49 | €103,912 | €68,081 | -€35,831 | -34.5% |
| Equity | 10/15 | €33,512 | €25,511 | -€8,001 | -23.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,512 | €22,511 | -€8,001 | -26.2% |
| Amounts payable | 17/49 | €70,401 | €42,570 | -€27,830 | -39.5% |
| Amounts payable within one year | 42/48 | €69,751 | €42,240 | -€27,510 | -39.4% |
| Trade debts | 44 | €6,041 | €240 | -€5,800 | -96.0% |
| Suppliers | 440/4 | €6,041 | €240 | -€5,800 | -96.0% |
| Taxes, remuneration and social security | 45 | €21,202 | €11,253 | -€9,950 | -46.9% |
| Taxes | 450/3 | €21,202 | €11,253 | -€9,950 | -46.9% |
| Other amounts payable | 47/48 | €42,508 | €30,747 | -€11,760 | -27.7% |
| Accrued charges and deferred income | 492/3 | €650 | €330 | -€320 | -49.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,980 | €5,064 | +€84 | +1.7% |
| Other operating charges | 640/8 | €3,889 | €6,066 | +€2,177 | +56.0% |
| Gross operating margin | 9900 | €51,918 | €4,242 | -€47,676 | -91.8% |
| Operating profit (loss) | 9901 | €43,049 | -€6,889 | -€49,937 | |
| Financial income | 75/76B | - | €54 | +€54 | |
| Recurring financial income | 75 | - | €54 | +€54 | |
| Financial charges | 65/66B | €2,338 | €103 | -€2,235 | -95.6% |
| Recurring financial charges | 65 | €2,338 | €103 | -€2,235 | -95.6% |
| Profit (loss) for the period before taxes | 9903 | €40,710 | -€6,938 | -€47,648 | |
| Income taxes | 67/77 | €9,589 | €1,063 | -€8,527 | -88.9% |
| Profit (loss) for the period | 9904 | €31,121 | -€8,001 | -€39,122 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,121 | -€8,001 | -€39,122 |
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.