LEDENT RX: 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.
LEDENT RX
Largest movements
- Cash +€126,707
up €126,707 (+20.4%), from €620,307 to €747,014
mainly Net result for the year (+€204,397) and Tax, wage and social debts (+€40,565)
- Tangible fixed assets +€50,300
up €50,300 (+7568.4%), from €665 to €50,964
- Current investments +€50,000
new in 2025: €50,000
- Receivables within one year -€25,239
down €25,239 (-15.1%), from €167,632 to €142,393
- Reserves +€124,089
up €124,089 (+34.1%), from €364,103 to €488,192
- Tax, wage and social debts +€40,565
up €40,565 (+86.8%), from €46,712 to €87,277
- Debts after one year +€25,000
up €25,000 (+16.7%), from €150,000 to €175,000
- Other debts +€12,161
up €12,161 (+12.0%), from €100,955 to €113,116
- Gross operating margin +€68,571
up €68,571 (+27.7%), from €247,674 to €316,245
- Taxes +€18,853
up €18,853 (+26.3%), from €71,712 to €90,565
- Depreciation +€3,254
up €3,254 (+34.4%), from €9,447 to €12,700
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 | €793,189 | €996,217 | +€203,029 | +25.6% |
| Fixed assets | 21/28 | €848 | €51,148 | +€50,300 | +5932.3% |
| Tangible fixed assets | 22/27 | €665 | €50,964 | +€50,300 | +7568.4% |
| Furniture and vehicles | 24 | €665 | €50,964 | +€50,300 | +7568.4% |
| Financial fixed assets | 28 | €183 | €183 | = | 0.0% |
| Current assets | 29/58 | €792,341 | €945,070 | +€152,729 | +19.3% |
| Amounts receivable within one year | 40/41 | €167,632 | €142,393 | -€25,239 | -15.1% |
| Other amounts receivable | 41 | €167,632 | €142,393 | -€25,239 | -15.1% |
| Current investments | 50/53 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €620,307 | €747,014 | +€126,707 | +20.4% |
| Deferred charges and accrued income | 490/1 | €4,402 | €5,664 | +€1,262 | +28.7% |
| Total equity and liabilities | 10/49 | €793,189 | €996,217 | +€203,029 | +25.6% |
| Equity | 10/15 | €486,721 | €611,118 | +€124,397 | +25.6% |
| Contributions | 10/11 | €121,920 | €121,920 | = | 0.0% |
| Outside capital | 11 | €121,920 | €121,920 | = | 0.0% |
| Other | 1109/19 | €121,920 | €121,920 | = | 0.0% |
| Reserves | 13 | €364,103 | €488,192 | +€124,089 | +34.1% |
| Distributable reserves | 133 | €364,103 | €488,192 | +€124,089 | +34.1% |
| Profit (loss) carried forward | 14 | €698 | €1,006 | +€308 | +44.1% |
| Amounts payable | 17/49 | €306,467 | €385,099 | +€78,631 | +25.7% |
| Amounts payable after more than one year | 17 | €150,000 | €175,000 | +€25,000 | +16.7% |
| Other amounts payable | 178/9 | €150,000 | €175,000 | +€25,000 | +16.7% |
| Amounts payable within one year | 42/48 | €150,423 | €203,559 | +€53,136 | +35.3% |
| Trade debts | 44 | €2,756 | €3,165 | +€410 | +14.9% |
| Suppliers | 440/4 | €2,756 | €3,165 | +€410 | +14.9% |
| Taxes, remuneration and social security | 45 | €46,712 | €87,277 | +€40,565 | +86.8% |
| Taxes | 450/3 | €46,712 | €87,277 | +€40,565 | +86.8% |
| Other amounts payable | 47/48 | €100,955 | €113,116 | +€12,161 | +12.0% |
| Accrued charges and deferred income | 492/3 | €6,044 | €6,540 | +€495 | +8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,447 | €12,700 | +€3,254 | +34.4% |
| Other operating charges | 640/8 | €2,022 | €1,889 | -€133 | -6.6% |
| Gross operating margin | 9900 | €247,674 | €316,245 | +€68,571 | +27.7% |
| Operating profit (loss) | 9901 | €236,205 | €301,656 | +€65,450 | +27.7% |
| Financial charges | 65/66B | €6,622 | €6,693 | +€71 | +1.1% |
| Recurring financial charges | 65 | €6,622 | €6,693 | +€71 | +1.1% |
| Profit (loss) for the period before taxes | 9903 | €229,583 | €294,962 | +€65,379 | +28.5% |
| Income taxes | 67/77 | €71,712 | €90,565 | +€18,853 | +26.3% |
| Profit (loss) for the period | 9904 | €157,871 | €204,397 | +€46,526 | +29.5% |
| Profit (loss) for the period to be appropriated | 9905 | €157,871 | €204,397 | +€46,526 | +29.5% |
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 6 October 2026 via checked.be.