LDW SERVICES: 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.
LDW SERVICES
Largest movements
- Current investments +€280,000
new in 2025: €280,000
- Cash -€269,205
down €269,205 (-79.0%), from €340,665 to €71,460
mainly Current investments (-€280,000) and Receivables within one year (-€24,833)
- Receivables within one year +€24,833
up €24,833 (+88.5%), from €28,054 to €52,887
of which Trade receivables: +€24,841
- Reserves +€24,200
up €24,200 (+12.4%), from €194,600 to €218,800
- Tax, wage and social debts +€8,615
up €8,615 (+75.5%), from €11,417 to €20,032
of which Taxes: +€6,289
- Gross operating margin +€9,855
up €9,855 (+25.7%), from €38,286 to €48,141
- Depreciation -€4,817
down €4,817 (-61.8%), from €7,795 to €2,978
- Taxes +€3,905
up €3,905 (+55.5%), from €7,039 to €10,944
- Financial charges +€1,343
up €1,343 (+15.0%), from €8,939 to €10,282
- Financial income +€1,060
up €1,060 (+679.5%), from €156 to €1,216
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 | €375,080 | €408,650 | +€33,569 | +8.9% |
| Fixed assets | 21/28 | €3,207 | €724 | -€2,483 | -77.4% |
| Tangible fixed assets | 22/27 | €3,127 | €644 | -€2,483 | -79.4% |
| Furniture and vehicles | 24 | €2,745 | €458 | -€2,287 | -83.3% |
| Other tangible fixed assets | 26 | €382 | €186 | -€196 | -51.3% |
| Financial fixed assets | 28 | €80 | €80 | = | 0.0% |
| Current assets | 29/58 | €371,873 | €407,926 | +€36,052 | +9.7% |
| Amounts receivable within one year | 40/41 | €28,054 | €52,887 | +€24,833 | +88.5% |
| Trade receivables | 40 | €28,045 | €52,887 | +€24,841 | +88.6% |
| Other amounts receivable | 41 | €9 | - | -€9 | |
| Current investments | 50/53 | - | €280,000 | +€280,000 | |
| Cash at bank and in hand | 54/58 | €340,665 | €71,460 | -€269,205 | -79.0% |
| Deferred charges and accrued income | 490/1 | €3,154 | €3,579 | +€425 | +13.5% |
| Total equity and liabilities | 10/49 | €375,080 | €408,650 | +€33,569 | +8.9% |
| Equity | 10/15 | €221,352 | €245,591 | +€24,238 | +11.0% |
| Contributions | 10/11 | €19,370 | €19,370 | = | 0.0% |
| Reserves | 13 | €194,600 | €218,800 | +€24,200 | +12.4% |
| Distributable reserves | 133 | €194,600 | €218,800 | +€24,200 | +12.4% |
| Profit (loss) carried forward | 14 | €7,382 | €7,421 | +€38 | +0.5% |
| Amounts payable | 17/49 | €153,728 | €163,059 | +€9,331 | +6.1% |
| Amounts payable within one year | 42/48 | €153,196 | €162,979 | +€9,782 | +6.4% |
| Trade debts | 44 | €5,459 | €5,344 | -€115 | -2.1% |
| Suppliers | 440/4 | €5,459 | €5,344 | -€115 | -2.1% |
| Taxes, remuneration and social security | 45 | €11,417 | €20,032 | +€8,615 | +75.5% |
| Taxes | 450/3 | €9,524 | €15,813 | +€6,289 | +66.0% |
| Remuneration and social security | 454/9 | €1,893 | €4,219 | +€2,326 | +122.8% |
| Other amounts payable | 47/48 | €136,321 | €137,603 | +€1,282 | +0.9% |
| Accrued charges and deferred income | 492/3 | €532 | €81 | -€451 | -84.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,795 | €2,978 | -€4,817 | -61.8% |
| Other operating charges | 640/8 | €929 | €914 | -€15 | -1.6% |
| Gross operating margin | 9900 | €38,286 | €48,141 | +€9,855 | +25.7% |
| Operating profit (loss) | 9901 | €29,562 | €44,249 | +€14,687 | +49.7% |
| Financial income | 75/76B | €156 | €1,216 | +€1,060 | +679.5% |
| Recurring financial income | 75 | €156 | €1,216 | +€1,060 | +679.5% |
| Financial charges | 65/66B | €8,939 | €10,282 | +€1,343 | +15.0% |
| Recurring financial charges | 65 | €8,939 | €10,282 | +€1,343 | +15.0% |
| Profit (loss) for the period before taxes | 9903 | €20,779 | €35,182 | +€14,404 | +69.3% |
| Income taxes | 67/77 | €7,039 | €10,944 | +€3,905 | +55.5% |
| Profit (loss) for the period | 9904 | €13,740 | €24,238 | +€10,498 | +76.4% |
| Profit (loss) for the period to be appropriated | 9905 | €13,740 | €24,238 | +€10,498 | +76.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.