Ledegen +: 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.
Ledegen +
Largest movements
- Tangible fixed assets +€192,661
up €192,661 (+4,706%), from €4,094 to €196,755
of which Land and buildings: +€194,788
- Cash -€25,085
down €25,085 (-69.4%), from €36,154 to €11,069
mainly Investment in fixed assets (net) (-€203,840) and Net result for the year (-€8,681)
- Debts after one year +€159,600
up €159,600 (+547%), from €29,167 to €188,767
- Other debts +€21,897
up €21,897 (+95.6%), from €22,900 to €44,797
- Reserves -€8,860
down €8,860 (-42.5%), from €20,860 to €12,000
- Tax, wage and social debts -€4,184
down €4,184 (-92.3%), from €4,532 to €348
- Gross operating margin -€26,797
down €26,797 (-65.0%), from €41,195 to €14,398
- Write-downs -€13,958
down €13,958 (-100%), from €13,958 to €0
- Financial charges +€10,129
up €10,129 (+2,675%), from €379 to €10,508
- Depreciation +€6,951
up €6,951 (+164%), from €4,229 to €11,179
- Taxes -€5,348
down €5,348 (-100%), from €5,348 to €0
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 | €95,499 | €265,804 | +€170,305 | +178% |
| Fixed assets | 21/28 | €4,184 | €196,845 | +€192,661 | +4,604% |
| Tangible fixed assets | 22/27 | €4,094 | €196,755 | +€192,661 | +4,706% |
| Land and buildings | 22 | - | €194,788 | +€194,788 | |
| Furniture and vehicles | 24 | €4,094 | €1,967 | -€2,127 | -51.9% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €91,314 | €68,959 | -€22,356 | -24.5% |
| Amounts receivable within one year | 40/41 | €54,949 | €57,421 | +€2,472 | +4.5% |
| Trade receivables | 40 | €20,926 | €24,205 | +€3,279 | +15.7% |
| Other amounts receivable | 41 | €34,023 | €33,215 | -€808 | -2.4% |
| Cash at bank and in hand | 54/58 | €36,154 | €11,069 | -€25,085 | -69.4% |
| Deferred charges and accrued income | 490/1 | €211 | €469 | +€258 | +122% |
| Total equity and liabilities | 10/49 | €95,499 | €265,804 | +€170,305 | +178% |
| Equity | 10/15 | €27,634 | €18,953 | -€8,681 | -31.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €20,860 | €12,000 | -€8,860 | -42.5% |
| Distributable reserves | 133 | €20,860 | €12,000 | -€8,860 | -42.5% |
| Profit (loss) carried forward | 14 | €574 | €753 | +€179 | +31.3% |
| Amounts payable | 17/49 | €67,865 | €246,851 | +€178,986 | +264% |
| Amounts payable after more than one year | 17 | €29,167 | €188,767 | +€159,600 | +547% |
| Financial debts | 170/4 | €29,167 | €188,767 | +€159,600 | +547% |
| Amounts payable within one year | 42/48 | €38,698 | €58,084 | +€19,386 | +50.1% |
| Current portion of amounts payable after more than one year | 42 | €10,000 | €10,000 | = | 0.0% |
| Trade debts | 44 | €1,266 | €2,939 | +€1,672 | +132% |
| Suppliers | 440/4 | €1,266 | €2,939 | +€1,672 | +132% |
| Taxes, remuneration and social security | 45 | €4,532 | €348 | -€4,184 | -92.3% |
| Taxes | 450/3 | €4,532 | €348 | -€4,184 | -92.3% |
| Other amounts payable | 47/48 | €22,900 | €44,797 | +€21,897 | +95.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,229 | €11,179 | +€6,951 | +164% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €13,958 | €0 | -€13,958 | -100% |
| Other operating charges | 640/8 | €1,142 | €1,392 | +€250 | +21.8% |
| Gross operating margin | 9900 | €41,195 | €14,398 | -€26,797 | -65.0% |
| Operating profit (loss) | 9901 | €21,865 | €1,827 | -€20,039 | -91.6% |
| Financial income | 75/76B | €1,750 | €1 | -€1,749 | -100.0% |
| Recurring financial income | 75 | €1,750 | €1 | -€1,749 | -100.0% |
| Financial charges | 65/66B | €379 | €10,508 | +€10,129 | +2,675% |
| Recurring financial charges | 65 | €379 | €10,508 | +€10,129 | +2,675% |
| Profit (loss) for the period before taxes | 9903 | €23,236 | -€8,681 | -€31,917 | |
| Income taxes | 67/77 | €5,348 | €0 | -€5,348 | -100% |
| Profit (loss) for the period | 9904 | €17,888 | -€8,681 | -€26,569 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,888 | -€8,681 | -€26,569 |
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 16 October 2026 via checked.be.