LEDOUSSE: 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.
LEDOUSSE
Largest movements
- Cash +€17,500
up €17,500 (+153.3%), from €11,416 to €28,916
mainly Net result for the year (+€37,101) and Depreciation (+€12,292)
- Receivables within one year +€10,020
up €10,020 (+10.7%), from €93,237 to €103,257
of which Trade receivables: +€17,424
- Tangible fixed assets -€9,142
down €9,142 (-41.6%), from €21,973 to €12,831
of which Furniture and vehicles: -€12,292
- Reserves +€37,100
up €37,100 (+20.8%), from €178,570 to €215,670
- Trade debts -€11,445
down €11,445 (-85.9%), from €13,320 to €1,875
- Current portion of long-term debt -€8,606
down €8,606 (-51.2%), from €16,802 to €8,196
- Gross operating margin +€25,404
up €25,404 (+66.4%), from €38,256 to €63,661
- Taxes +€7,122
up €7,122 (+58.0%), from €12,278 to €19,400
- Financial income +€2,256
up €2,256 (+44.2%), from €5,108 to €7,364
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 | €244,461 | €262,264 | +€17,803 | +7.3% |
| Fixed assets | 21/28 | €21,973 | €12,831 | -€9,142 | -41.6% |
| Tangible fixed assets | 22/27 | €21,973 | €12,831 | -€9,142 | -41.6% |
| Furniture and vehicles | 24 | €21,973 | €9,681 | -€12,292 | -55.9% |
| Other tangible fixed assets | 26 | - | €3,150 | +€3,150 | |
| Current assets | 29/58 | €222,488 | €249,433 | +€26,945 | +12.1% |
| Amounts receivable after more than one year | 29 | €117,140 | €117,140 | = | 0.0% |
| Other amounts receivable | 291 | €117,140 | €117,140 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €93,237 | €103,257 | +€10,020 | +10.7% |
| Trade receivables | 40 | - | €17,424 | +€17,424 | |
| Other amounts receivable | 41 | €93,237 | €85,833 | -€7,404 | -7.9% |
| Cash at bank and in hand | 54/58 | €11,416 | €28,916 | +€17,500 | +153.3% |
| Deferred charges and accrued income | 490/1 | €695 | €120 | -€574 | -82.7% |
| Total equity and liabilities | 10/49 | €244,461 | €262,264 | +€17,803 | +7.3% |
| Equity | 10/15 | €197,331 | €234,432 | +€37,101 | +18.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €178,570 | €215,670 | +€37,100 | +20.8% |
| Distributable reserves | 133 | €178,570 | €215,670 | +€37,100 | +20.8% |
| Profit (loss) carried forward | 14 | €161 | €162 | +€1 | +0.7% |
| Amounts payable | 17/49 | €47,130 | €27,832 | -€19,298 | -40.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €47,130 | €27,832 | -€19,298 | -40.9% |
| Current portion of amounts payable after more than one year | 42 | €16,802 | €8,196 | -€8,606 | -51.2% |
| Trade debts | 44 | €13,320 | €1,875 | -€11,445 | -85.9% |
| Suppliers | 440/4 | €13,320 | €1,875 | -€11,445 | -85.9% |
| Taxes, remuneration and social security | 45 | €17,008 | €17,761 | +€753 | +4.4% |
| Taxes | 450/3 | €17,008 | €17,761 | +€753 | +4.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,145 | €12,292 | +€148 | +1.2% |
| Other operating charges | 640/8 | €702 | €1,330 | +€628 | +89.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €38,256 | €63,661 | +€25,404 | +66.4% |
| Operating profit (loss) | 9901 | €25,409 | €50,038 | +€24,629 | +96.9% |
| Financial income | 75/76B | €5,108 | €7,364 | +€2,256 | +44.2% |
| Recurring financial income | 75 | €5,108 | €7,364 | +€2,256 | +44.2% |
| Financial charges | 65/66B | €1,327 | €902 | -€426 | -32.1% |
| Recurring financial charges | 65 | €1,327 | €902 | -€426 | -32.1% |
| Profit (loss) for the period before taxes | 9903 | €29,190 | €56,501 | +€27,311 | +93.6% |
| Income taxes | 67/77 | €12,278 | €19,400 | +€7,122 | +58.0% |
| Profit (loss) for the period | 9904 | €16,911 | €37,101 | +€20,190 | +119.4% |
| Profit (loss) for the period to be appropriated | 9905 | €16,911 | €37,101 | +€20,190 | +119.4% |
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 7 October 2026 via checked.be.