LDS ADVISORY: 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.
LDS ADVISORY
Largest movements
- Receivables within one year +€599,404
up €599,404 (+28.0%), from €2.1m to €2.7m
of which Trade receivables: +€610,216
- Cash -€126,928
down €126,928 (-28.2%), from €449,867 to €322,939
mainly Contributions, distributions and other (-€1.3m) and Receivables within one year (-€599,404)
- Deferred charges and accrued income +€50,638
up €50,638 (+25.7%), from €197,366 to €248,004
- Tangible fixed assets +€48,241
up €48,241 (+37.9%), from €127,226 to €175,467
of which Other tangible fixed assets: +€42,519
- Profit (loss) carried forward +€291,933
up €291,933 (+66.2%), from €440,806 to €732,740
- Trade debts +€193,581
up €193,581 (+28.1%), from €688,583 to €882,164
- Tax, wage and social debts +€127,428
up €127,428 (+51.4%), from €248,138 to €375,566
of which Remuneration and social security: +€80,724
- Accrued charges and deferred income -€68,457
down €68,457 (-36.6%), from €186,817 to €118,360
- Gross operating margin +€626,474
up €626,474 (+20.4%), from €3.1m to €3.7m
- Taxes +€170,616
up €170,616 (+41.0%), from €416,570 to €587,186
- Staff costs -€69,707
down €69,707 (-4.8%), from €1.4m to €1.4m
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 | €3,048,414 | €3,625,596 | +€577,182 | +18.9% |
| Fixed assets | 21/28 | €257,478 | €311,546 | +€54,068 | +21.0% |
| Intangible fixed assets | 21 | €3,152 | €2,387 | -€765 | -24.3% |
| Tangible fixed assets | 22/27 | €127,226 | €175,467 | +€48,241 | +37.9% |
| Plant, machinery and equipment | 23 | €27,006 | €46,480 | +€19,474 | +72.1% |
| Furniture and vehicles | 24 | €58,779 | €45,028 | -€13,752 | -23.4% |
| Other tangible fixed assets | 26 | €41,440 | €83,959 | +€42,519 | +102.6% |
| Financial fixed assets | 28 | €127,100 | €133,692 | +€6,592 | +5.2% |
| Current assets | 29/58 | €2,790,936 | €3,314,051 | +€523,114 | +18.7% |
| Amounts receivable within one year | 40/41 | €2,143,704 | €2,743,108 | +€599,404 | +28.0% |
| Trade receivables | 40 | €2,132,892 | €2,743,108 | +€610,216 | +28.6% |
| Other amounts receivable | 41 | €10,812 | €0 | -€10,812 | -100.0% |
| Cash at bank and in hand | 54/58 | €449,867 | €322,939 | -€126,928 | -28.2% |
| Deferred charges and accrued income | 490/1 | €197,366 | €248,004 | +€50,638 | +25.7% |
| Total equity and liabilities | 10/49 | €3,048,414 | €3,625,596 | +€577,182 | +18.9% |
| Equity | 10/15 | €448,866 | €740,800 | +€291,933 | +65.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €440,806 | €732,740 | +€291,933 | +66.2% |
| Amounts payable | 17/49 | €2,599,548 | €2,884,797 | +€285,249 | +11.0% |
| Amounts payable within one year | 42/48 | €2,412,731 | €2,766,437 | +€353,706 | +14.7% |
| Trade debts | 44 | €688,583 | €882,164 | +€193,581 | +28.1% |
| Suppliers | 440/4 | €688,583 | €882,164 | +€193,581 | +28.1% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €248,138 | €375,566 | +€127,428 | +51.4% |
| Taxes | 450/3 | €97,224 | €143,928 | +€46,704 | +48.0% |
| Remuneration and social security | 454/9 | €150,914 | €231,638 | +€80,724 | +53.5% |
| Other amounts payable | 47/48 | €1,476,010 | €1,508,706 | +€32,696 | +2.2% |
| Accrued charges and deferred income | 492/3 | €186,817 | €118,360 | -€68,457 | -36.6% |
| Remuneration, social security and pensions | 62 | €1,443,143 | €1,373,435 | -€69,707 | -4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,489 | €44,252 | +€15,763 | +55.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,148 | €9,500 | +€4,352 | +84.5% |
| Other operating charges | 640/8 | €40 | €182 | +€142 | +354.2% |
| Gross operating margin | 9900 | €3,063,556 | €3,690,030 | +€626,474 | +20.4% |
| Operating profit (loss) | 9901 | €1,586,736 | €2,262,661 | +€675,925 | +42.6% |
| Financial income | 75/76B | €4,155 | €0 | -€4,155 | -100.0% |
| Recurring financial income | 75 | €4,155 | €0 | -€4,155 | -100.0% |
| Financial charges | 65/66B | €37,590 | €51,979 | +€14,389 | +38.3% |
| Recurring financial charges | 65 | €37,590 | €51,979 | +€14,389 | +38.3% |
| Profit (loss) for the period before taxes | 9903 | €1,553,301 | €2,210,682 | +€657,381 | +42.3% |
| Income taxes | 67/77 | €416,570 | €587,186 | +€170,616 | +41.0% |
| Profit (loss) for the period | 9904 | €1,136,731 | €1,623,495 | +€486,765 | +42.8% |
| Profit (loss) for the period to be appropriated | 9905 | €1,136,731 | €1,623,495 | +€486,765 | +42.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.