LEDAMO: 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.
LEDAMO
Largest movements
- Tangible fixed assets -€115,322
down €115,322 (-5.1%), from €2.2m to €2.1m
of which Land and buildings: -€126,069
- Receivables within one year -€113,871
down €113,871 (-55.5%), from €204,992 to €91,121
of which Trade receivables: -€121,880
- Trade debts -€102,868
down €102,868 (-53.5%), from €192,271 to €89,403
- Debts after one year -€78,495
down €78,495 (-9.8%), from €800,696 to €722,202
- Reserves -€50,485
down €50,485 (-8.3%), from €607,224 to €556,739
- Profit (loss) carried forward -€37,343
new in 2025: -€37,343
- Gross operating margin -€50,360
down €50,360 (-26.5%), from €190,065 to €139,705
- Depreciation +€12,644
up €12,644 (+7.0%), from €180,130 to €192,774
- Financial charges +€7,489
up €7,489 (+28.1%), from €26,651 to €34,140
- Financial income -€7,018
down €7,018 (-71.0%), from €9,881 to €2,863
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 | €2,701,468 | €2,452,655 | -€248,813 | -9.2% |
| Fixed assets | 21/28 | €2,239,569 | €2,124,246 | -€115,322 | -5.1% |
| Tangible fixed assets | 22/27 | €2,239,569 | €2,124,246 | -€115,322 | -5.1% |
| Land and buildings | 22 | €1,946,491 | €1,820,423 | -€126,069 | -6.5% |
| Furniture and vehicles | 24 | €293,077 | €303,824 | +€10,747 | +3.7% |
| Current assets | 29/58 | €461,899 | €328,409 | -€133,491 | -28.9% |
| Amounts receivable within one year | 40/41 | €204,992 | €91,121 | -€113,871 | -55.5% |
| Trade receivables | 40 | €188,500 | €66,620 | -€121,880 | -64.7% |
| Other amounts receivable | 41 | €16,491 | €24,501 | +€8,009 | +48.6% |
| Current investments | 50/53 | €195,691 | €193,172 | -€2,519 | -1.3% |
| Cash at bank and in hand | 54/58 | €52,524 | €38,288 | -€14,236 | -27.1% |
| Deferred charges and accrued income | 490/1 | €8,693 | €5,828 | -€2,864 | -33.0% |
| Total equity and liabilities | 10/49 | €2,701,468 | €2,452,655 | -€248,813 | -9.2% |
| Equity | 10/15 | €1,004,365 | €914,855 | -€89,510 | -8.9% |
| Contributions | 10/11 | €379,146 | €379,146 | = | 0.0% |
| Revaluation surpluses | 12 | €10,104 | €10,104 | = | 0.0% |
| Reserves | 13 | €607,224 | €556,739 | -€50,485 | -8.3% |
| Distributable reserves | 133 | €607,224 | €556,739 | -€50,485 | -8.3% |
| Profit (loss) carried forward | 14 | - | -€37,343 | -€37,343 | |
| Investment grants | 15 | €7,890 | €6,209 | -€1,681 | -21.3% |
| Provisions and deferred taxes | 16 | €1,860 | €1,440 | -€420 | -22.6% |
| Deferred taxes | 168 | €1,860 | €1,440 | -€420 | -22.6% |
| Amounts payable | 17/49 | €1,695,243 | €1,536,360 | -€158,883 | -9.4% |
| Amounts payable after more than one year | 17 | €800,696 | €722,202 | -€78,495 | -9.8% |
| Financial debts | 170/4 | €800,696 | €722,202 | -€78,495 | -9.8% |
| Amounts payable within one year | 42/48 | €893,707 | €813,319 | -€80,388 | -9.0% |
| Current portion of amounts payable after more than one year | 42 | €76,086 | €78,495 | +€2,408 | +3.2% |
| Trade debts | 44 | €192,271 | €89,403 | -€102,868 | -53.5% |
| Suppliers | 440/4 | €192,271 | €89,403 | -€102,868 | -53.5% |
| Taxes, remuneration and social security | 45 | €3,613 | €22,989 | +€19,377 | +536% |
| Taxes | 450/3 | €3,613 | €20,664 | +€17,052 | +472% |
| Remuneration and social security | 454/9 | - | €2,325 | +€2,325 | |
| Other amounts payable | 47/48 | €621,736 | €622,431 | +€695 | +0.1% |
| Accrued charges and deferred income | 492/3 | €840 | €840 | = | 0.0% |
| Non-recurring operating income | 76A | €50,962 | €0 | -€50,962 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €180,130 | €192,774 | +€12,644 | +7.0% |
| Other operating charges | 640/8 | €4,481 | €3,665 | -€816 | -18.2% |
| Gross operating margin | 9900 | €190,065 | €139,705 | -€50,360 | -26.5% |
| Operating profit (loss) | 9901 | €5,454 | -€56,733 | -€62,187 | |
| Financial income | 75/76B | €9,881 | €2,863 | -€7,018 | -71.0% |
| Recurring financial income | 75 | €9,881 | €2,863 | -€7,018 | -71.0% |
| Financial charges | 65/66B | €26,651 | €34,140 | +€7,489 | +28.1% |
| Recurring financial charges | 65 | €26,651 | €34,140 | +€7,489 | +28.1% |
| Profit (loss) for the period before taxes | 9903 | -€11,316 | -€88,010 | -€76,694 | -678% |
| Transfer from deferred taxes | 780 | €420 | €420 | = | 0.0% |
| Income taxes | 67/77 | €261 | €239 | -€22 | -8.4% |
| Profit (loss) for the period | 9904 | -€11,157 | -€87,829 | -€76,672 | -687% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,157 | -€87,829 | -€76,672 | -687% |
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.