LDWI: 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.
LDWI
Largest movements
- Tangible fixed assets -€106,258
down €106,258 (-7.6%), from €1.4m to €1.3m
of which Land and buildings: -€102,373
- Cash +€46,623
up €46,623 (+39.1%), from €119,134 to €165,758
mainly Depreciation (+€126,374) and Net result for the year (+€29,197)
- Debts after one year -€117,849
down €117,849 (-15.4%), from €765,893 to €648,044
- Profit (loss) carried forward +€29,197
up €29,197 (+85.3%), from €34,229 to €63,427
- Staff costs +€11,130
up €11,130 (+2.7%), from €417,994 to €429,124
- Gross operating margin +€9,007
up €9,007 (+1.4%), from €657,495 to €666,502
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 | €1,585,103 | €1,519,870 | -€65,233 | -4.1% |
| Fixed assets | 21/28 | €1,389,132 | €1,282,874 | -€106,258 | -7.6% |
| Tangible fixed assets | 22/27 | €1,389,132 | €1,282,874 | -€106,258 | -7.6% |
| Land and buildings | 22 | €1,325,504 | €1,223,131 | -€102,373 | -7.7% |
| Plant, machinery and equipment | 23 | €20,052 | €28,002 | +€7,949 | +39.6% |
| Furniture and vehicles | 24 | €43,576 | €31,742 | -€11,835 | -27.2% |
| Current assets | 29/58 | €195,971 | €236,996 | +€41,026 | +20.9% |
| Stocks and contracts in progress | 3 | €47,380 | €47,280 | -€100 | -0.2% |
| Stocks | 30/36 | €47,380 | €47,280 | -€100 | -0.2% |
| Amounts receivable within one year | 40/41 | €26,726 | €20,736 | -€5,990 | -22.4% |
| Trade receivables | 40 | - | €64 | +€64 | |
| Other amounts receivable | 41 | €26,726 | €20,672 | -€6,054 | -22.7% |
| Cash at bank and in hand | 54/58 | €119,134 | €165,758 | +€46,623 | +39.1% |
| Deferred charges and accrued income | 490/1 | €2,731 | €3,223 | +€492 | +18.0% |
| Total equity and liabilities | 10/49 | €1,585,103 | €1,519,870 | -€65,233 | -4.1% |
| Equity | 10/15 | €710,454 | €739,651 | +€29,197 | +4.1% |
| Contributions | 10/11 | €82,500 | €82,500 | = | 0.0% |
| Revaluation surpluses | 12 | €593,724 | €593,724 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,229 | €63,427 | +€29,197 | +85.3% |
| Amounts payable | 17/49 | €874,650 | €780,219 | -€94,430 | -10.8% |
| Amounts payable after more than one year | 17 | €765,893 | €648,044 | -€117,849 | -15.4% |
| Financial debts | 170/4 | €765,893 | €648,044 | -€117,849 | -15.4% |
| Amounts payable within one year | 42/48 | €108,757 | €132,175 | +€23,419 | +21.5% |
| Current portion of amounts payable after more than one year | 42 | €36,905 | €36,457 | -€448 | -1.2% |
| Trade debts | 44 | €38,512 | €54,243 | +€15,731 | +40.8% |
| Suppliers | 440/4 | €38,512 | €54,243 | +€15,731 | +40.8% |
| Taxes, remuneration and social security | 45 | €27,732 | €37,052 | +€9,320 | +33.6% |
| Taxes | 450/3 | €9,126 | €2,563 | -€6,563 | -71.9% |
| Remuneration and social security | 454/9 | €18,605 | €34,489 | +€15,883 | +85.4% |
| Other amounts payable | 47/48 | €5,608 | €4,423 | -€1,185 | -21.1% |
| Remuneration, social security and pensions | 62 | €417,994 | €429,124 | +€11,130 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €129,802 | €126,374 | -€3,429 | -2.6% |
| Other operating charges | 640/8 | €33,913 | €38,753 | +€4,840 | +14.3% |
| Gross operating margin | 9900 | €657,495 | €666,502 | +€9,007 | +1.4% |
| Operating profit (loss) | 9901 | €75,786 | €72,251 | -€3,535 | -4.7% |
| Financial income | 75/76B | €52 | €144 | +€91 | +174.1% |
| Recurring financial income | 75 | €52 | €144 | +€91 | +174.1% |
| Financial charges | 65/66B | €32,997 | €31,596 | -€1,401 | -4.2% |
| Recurring financial charges | 65 | €32,997 | €31,596 | -€1,401 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | €42,841 | €40,799 | -€2,042 | -4.8% |
| Income taxes | 67/77 | €9,563 | €11,602 | +€2,038 | +21.3% |
| Profit (loss) for the period | 9904 | €33,278 | €29,197 | -€4,080 | -12.3% |
| Profit (loss) for the period to be appropriated | 9905 | €33,278 | €29,197 | -€4,080 | -12.3% |
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 30 September 2026 via checked.be.