LEDIS: 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.
LEDIS
Largest movements
- Receivables within one year -€143,041
down €143,041 (-40.7%), from €351,415 to €208,374
of which Other amounts receivable: -€245,410
- Cash +€126,318
up €126,318 (+263.0%), from €48,033 to €174,351
mainly Receivables within one year (+€143,041) and Depreciation (+€91,767)
- Stocks and contracts +€55,903
up €55,903 (+13.7%), from €408,231 to €464,134
- Tangible fixed assets -€36,671
down €36,671 (-11.7%), from €313,358 to €276,687
of which Other tangible fixed assets: -€38,788
- Trade debts +€61,694
up €61,694 (+8.1%), from €762,104 to €823,797
- Debts after one year -€40,000
down €40,000 (-57.1%), from €70,000 to €30,000
- Tax, wage and social debts -€17,845
down €17,845 (-13.9%), from €128,483 to €110,637
of which Remuneration and social security: -€9,168
- Gross operating margin -€21,027
down €21,027 (-2.9%), from €715,438 to €694,411
- Staff costs -€16,830
down €16,830 (-2.9%), from €579,821 to €562,991
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 | €1,130,275 | €1,144,128 | +€13,853 | +1.2% |
| Fixed assets | 21/28 | €313,358 | €276,687 | -€36,671 | -11.7% |
| Tangible fixed assets | 22/27 | €313,358 | €276,687 | -€36,671 | -11.7% |
| Plant, machinery and equipment | 23 | €63,474 | €65,590 | +€2,117 | +3.3% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €249,884 | €211,097 | -€38,788 | -15.5% |
| Current assets | 29/58 | €816,917 | €867,441 | +€50,524 | +6.2% |
| Stocks and contracts in progress | 3 | €408,231 | €464,134 | +€55,903 | +13.7% |
| Stocks | 30/36 | €408,231 | €464,134 | +€55,903 | +13.7% |
| Amounts receivable within one year | 40/41 | €351,415 | €208,374 | -€143,041 | -40.7% |
| Trade receivables | 40 | €95,750 | €198,120 | +€102,370 | +106.9% |
| Other amounts receivable | 41 | €255,665 | €10,254 | -€245,410 | -96.0% |
| Cash at bank and in hand | 54/58 | €48,033 | €174,351 | +€126,318 | +263.0% |
| Deferred charges and accrued income | 490/1 | €9,238 | €20,582 | +€11,345 | +122.8% |
| Total equity and liabilities | 10/49 | €1,130,275 | €1,144,128 | +€13,853 | +1.2% |
| Equity | 10/15 | €53,138 | €54,451 | +€1,313 | +2.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,138 | €32,451 | +€1,313 | +4.2% |
| Amounts payable | 17/49 | €1,077,136 | €1,089,677 | +€12,540 | +1.2% |
| Amounts payable after more than one year | 17 | €70,000 | €30,000 | -€40,000 | -57.1% |
| Financial debts | 170/4 | €70,000 | €30,000 | -€40,000 | -57.1% |
| Amounts payable within one year | 42/48 | €1,007,136 | €1,059,677 | +€52,540 | +5.2% |
| Current portion of amounts payable after more than one year | 42 | €40,000 | €40,000 | = | 0.0% |
| Financial debts | 43 | €76,507 | €75,242 | -€1,265 | -1.7% |
| Credit institutions | 430/8 | €76,507 | €75,242 | -€1,265 | -1.7% |
| Trade debts | 44 | €762,104 | €823,797 | +€61,694 | +8.1% |
| Suppliers | 440/4 | €762,104 | €823,797 | +€61,694 | +8.1% |
| Taxes, remuneration and social security | 45 | €128,483 | €110,637 | -€17,845 | -13.9% |
| Taxes | 450/3 | €14,876 | €6,199 | -€8,677 | -58.3% |
| Remuneration and social security | 454/9 | €113,607 | €104,438 | -€9,168 | -8.1% |
| Other amounts payable | 47/48 | €43 | €10,000 | +€9,957 | +23155.8% |
| Non-recurring operating income | 76A | €0 | €250 | +€250 | |
| Remuneration, social security and pensions | 62 | €579,821 | €562,991 | -€16,830 | -2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,007 | €91,767 | -€5,240 | -5.4% |
| Other operating charges | 640/8 | €33,363 | €36,687 | +€3,324 | +10.0% |
| Gross operating margin | 9900 | €715,438 | €694,411 | -€21,027 | -2.9% |
| Operating profit (loss) | 9901 | €5,248 | €2,966 | -€2,281 | -43.5% |
| Financial income | 75/76B | €9,238 | €11,384 | +€2,147 | +23.2% |
| Recurring financial income | 75 | €9,238 | €11,384 | +€2,147 | +23.2% |
| Financial charges | 65/66B | €11,551 | €9,201 | -€2,351 | -20.4% |
| Recurring financial charges | 65 | €11,551 | €9,201 | -€2,351 | -20.4% |
| Profit (loss) for the period before taxes | 9903 | €2,934 | €5,150 | +€2,216 | +75.5% |
| Income taxes | 67/77 | €2,362 | €3,837 | +€1,476 | +62.5% |
| Profit (loss) for the period | 9904 | €573 | €1,313 | +€740 | +129.3% |
| Profit (loss) for the period to be appropriated | 9905 | €573 | €1,313 | +€740 | +129.3% |
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 4 October 2026 via checked.be.