LDR Projects: 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.
LDR Projects
Largest movements
- Receivables within one year -€116,915
down €116,915 (-60.9%), from €191,987 to €75,072
of which Trade receivables: -€96,646
- Stocks and contracts -€55,000
down €55,000 (-65.5%), from €84,000 to €29,000
- Tangible fixed assets -€47,026
down €47,026 (-51.5%), from €91,270 to €44,243
of which Leasing and similar rights: -€66,706
- Cash +€28,791
up €28,791 (+45.3%), from €63,514 to €92,306
mainly Receivables within one year (+€116,915) and Stocks and contracts (+€55,000)
- Other debts -€150,879
down €150,879 (-62.1%), from €243,156 to €92,278
- Debts after one year -€25,835
down €25,835 (-100%), from €25,835 to €0
- Current portion of long-term debt -€19,844
down €19,844 (-100%), from €19,844 to €0
- Gross operating margin +€95,265
up €95,265, from -€19,998 to €75,268
- Depreciation -€21,356
down €21,356 (-66.4%), from €32,155 to €10,799
- Staff costs -€8,343
down €8,343 (-42.8%), from €19,483 to €11,140
- Other operating charges -€1,761
down €1,761 (-47.0%), from €3,745 to €1,984
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 | €437,017 | €244,089 | -€192,928 | -44.1% |
| Fixed assets | 21/28 | €91,270 | €44,243 | -€47,026 | -51.5% |
| Tangible fixed assets | 22/27 | €91,270 | €44,243 | -€47,026 | -51.5% |
| Plant, machinery and equipment | 23 | €7,742 | €5,472 | -€2,270 | -29.3% |
| Furniture and vehicles | 24 | €2,305 | €27,620 | +€25,316 | +1,098% |
| Leasing and similar rights | 25 | €66,706 | €0 | -€66,706 | -100% |
| Other tangible fixed assets | 26 | €14,516 | €11,151 | -€3,365 | -23.2% |
| Current assets | 29/58 | €345,748 | €199,846 | -€145,902 | -42.2% |
| Stocks and contracts in progress | 3 | €84,000 | €29,000 | -€55,000 | -65.5% |
| Stocks | 30/36 | €84,000 | €29,000 | -€55,000 | -65.5% |
| Amounts receivable within one year | 40/41 | €191,987 | €75,072 | -€116,915 | -60.9% |
| Trade receivables | 40 | €151,251 | €54,605 | -€96,646 | -63.9% |
| Other amounts receivable | 41 | €40,736 | €20,467 | -€20,269 | -49.8% |
| Cash at bank and in hand | 54/58 | €63,514 | €92,306 | +€28,791 | +45.3% |
| Deferred charges and accrued income | 490/1 | €6,247 | €3,468 | -€2,778 | -44.5% |
| Total equity and liabilities | 10/49 | €437,017 | €244,089 | -€192,928 | -44.1% |
| Equity | 10/15 | €129,261 | €128,664 | -€597 | -0.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €6,860 | €6,860 | = | 0.0% |
| Distributable reserves | 133 | €6,860 | €6,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €116,201 | €115,604 | -€597 | -0.5% |
| Amounts payable | 17/49 | €307,756 | €115,425 | -€192,331 | -62.5% |
| Amounts payable after more than one year | 17 | €25,835 | €0 | -€25,835 | -100% |
| Financial debts | 170/4 | €25,835 | €0 | -€25,835 | -100% |
| Amounts payable within one year | 42/48 | €281,921 | €115,425 | -€166,496 | -59.1% |
| Current portion of amounts payable after more than one year | 42 | €19,844 | €0 | -€19,844 | -100% |
| Financial debts | 43 | - | €514 | +€514 | |
| Credit institutions | 430/8 | - | €514 | +€514 | |
| Trade debts | 44 | €7,111 | €9,762 | +€2,651 | +37.3% |
| Suppliers | 440/4 | €7,111 | €9,762 | +€2,651 | +37.3% |
| Taxes, remuneration and social security | 45 | €11,810 | €12,872 | +€1,062 | +9.0% |
| Taxes | 450/3 | €8,039 | €11,872 | +€3,833 | +47.7% |
| Remuneration and social security | 454/9 | €3,771 | €1,000 | -€2,771 | -73.5% |
| Other amounts payable | 47/48 | €243,156 | €92,278 | -€150,879 | -62.1% |
| Remuneration, social security and pensions | 62 | €19,483 | €11,140 | -€8,343 | -42.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,155 | €10,799 | -€21,356 | -66.4% |
| Other operating charges | 640/8 | €3,745 | €1,984 | -€1,761 | -47.0% |
| Non-recurring operating charges | 66A | - | €48,657 | +€48,657 | |
| Gross operating margin | 9900 | -€19,998 | €75,268 | +€95,265 | |
| Operating profit (loss) | 9901 | -€75,381 | €2,688 | +€78,069 | |
| Financial charges | 65/66B | €2,687 | €2,418 | -€269 | -10.0% |
| Recurring financial charges | 65 | €2,687 | €2,418 | -€269 | -10.0% |
| Profit (loss) for the period before taxes | 9903 | -€78,068 | €270 | +€78,339 | |
| Income taxes | 67/77 | - | €34 | +€34 | |
| Profit (loss) for the period | 9904 | -€78,068 | €236 | +€78,304 | |
| Profit (loss) for the period to be appropriated | 9905 | -€78,068 | €236 | +€78,304 |
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 14 October 2026 via checked.be.