LDRW: what changed
Two fiscal 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.
LDRW
Largest movements
- Stocks and contracts -€57,430
down €57,430 (-85.2%), from €67,430 to €10,000
- Receivables within one year -€27,687
down €27,687 (-11.0%), from €251,148 to €223,462
of which Trade receivables: -€32,148
- Profit (loss) carried forward -€73,370
down €73,370, from €70,878 to -€2,492
- Other debts +€54,900
up €54,900 (+103.4%), from €53,112 to €108,012
- Debts after one year -€41,581
down €41,581 (-88.0%), from €47,266 to €5,685
- Trade debts -€16,833
down €16,833 (-9.3%), from €181,124 to €164,290
- Tax, wage and social debts -€6,721
down €6,721 (-37.2%), from €18,078 to €11,356
of which Remuneration and social security: -€6,078
- Gross operating margin -€83,259
down €83,259, from €54,818 to -€28,440
- Staff costs -€25,001
down €25,001 (-48.4%), from €51,664 to €26,663
- Other operating charges +€1,997
up €1,997 (+27.0%), from €7,386 to €9,383
- Financial charges -€1,803
down €1,803 (-32.8%), from €5,491 to €3,688
- Depreciation +€625
up €625 (+13.7%), from €4,571 to €5,196
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 | €426,092 | €341,533 | -€84,559 | -19.8% |
| Fixed assets | 21/28 | €101,739 | €101,743 | +€4 | 0.0% |
| Tangible fixed assets | 22/27 | €40,789 | €40,793 | +€4 | 0.0% |
| Other tangible fixed assets | 26 | €40,789 | €40,793 | +€4 | 0.0% |
| Financial fixed assets | 28 | €60,950 | €60,950 | = | 0.0% |
| Current assets | 29/58 | €324,354 | €239,791 | -€84,563 | -26.1% |
| Stocks and contracts in progress | 3 | €67,430 | €10,000 | -€57,430 | -85.2% |
| Stocks | 30/36 | €67,430 | €10,000 | -€57,430 | -85.2% |
| Amounts receivable within one year | 40/41 | €251,148 | €223,462 | -€27,687 | -11.0% |
| Trade receivables | 40 | €178,002 | €145,854 | -€32,148 | -18.1% |
| Other amounts receivable | 41 | €73,147 | €77,608 | +€4,461 | +6.1% |
| Cash at bank and in hand | 54/58 | €5,775 | €6,329 | +€554 | +9.6% |
| Total equity and liabilities | 10/49 | €426,092 | €341,533 | -€84,559 | -19.8% |
| Equity | 10/15 | €83,978 | €10,608 | -€73,370 | -87.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €700 | €700 | = | 0.0% |
| Non-distributable reserves | 130/1 | €700 | €700 | = | 0.0% |
| Reserves not available under the articles | 1311 | €700 | €700 | = | 0.0% |
| Profit (loss) carried forward | 14 | €70,878 | -€2,492 | -€73,370 | |
| Amounts payable | 17/49 | €342,114 | €330,925 | -€11,189 | -3.3% |
| Amounts payable after more than one year | 17 | €47,266 | €5,685 | -€41,581 | -88.0% |
| Financial debts | 170/4 | €47,266 | €5,685 | -€41,581 | -88.0% |
| Amounts payable within one year | 42/48 | €294,848 | €325,239 | +€30,392 | +10.3% |
| Current portion of amounts payable after more than one year | 42 | €42,534 | €41,581 | -€954 | -2.2% |
| Trade debts | 44 | €181,124 | €164,290 | -€16,833 | -9.3% |
| Suppliers | 440/4 | €181,124 | €164,290 | -€16,833 | -9.3% |
| Taxes, remuneration and social security | 45 | €18,078 | €11,356 | -€6,721 | -37.2% |
| Taxes | 450/3 | €5,368 | €4,725 | -€643 | -12.0% |
| Remuneration and social security | 454/9 | €12,709 | €6,631 | -€6,078 | -47.8% |
| Other amounts payable | 47/48 | €53,112 | €108,012 | +€54,900 | +103.4% |
| Non-recurring operating income | 76A | €71,815 | - | -€71,815 | |
| Remuneration, social security and pensions | 62 | €51,664 | €26,663 | -€25,001 | -48.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,571 | €5,196 | +€625 | +13.7% |
| Other operating charges | 640/8 | €7,386 | €9,383 | +€1,997 | +27.0% |
| Gross operating margin | 9900 | €54,818 | -€28,440 | -€83,259 | |
| Operating profit (loss) | 9901 | -€8,802 | -€69,682 | -€60,880 | -691.6% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €5,491 | €3,688 | -€1,803 | -32.8% |
| Recurring financial charges | 65 | €5,491 | €3,688 | -€1,803 | -32.8% |
| Profit (loss) for the period before taxes | 9903 | -€14,293 | -€73,370 | -€59,077 | -413.3% |
| Profit (loss) for the period | 9904 | -€14,293 | -€73,370 | -€59,077 | -413.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,293 | -€73,370 | -€59,077 | -413.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.