LEDOUX ORTHO: 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.
LEDOUX ORTHO
Largest movements
- Cash +€49,509
up €49,509 (+189%), from €26,192 to €75,700
mainly Net result for the year (+€43,756) and Debts after one year (+€28,500)
- Tangible fixed assets +€38,607
up €38,607 (+308%), from €12,516 to €51,122
of which Furniture and vehicles: +€31,437
- Current investments +€5,511
up €5,511 (+551%), from €1,000 to €6,511
- Receivables within one year +€1,599
up €1,599 (+799%), from €200 to €1,799
- Reserves +€43,756
up €43,756 (+205%), from €21,307 to €65,063
- Debts after one year +€28,500
new in 2025: €28,500
- Tax, wage and social debts +€14,008
up €14,008 (+98.3%), from €14,253 to €28,260
of which Taxes: +€17,773
- Current portion of long-term debt +€7,799
new in 2025: €7,799
- Other debts +€1,410
up €1,410 (+216%), from €653 to €2,063
- Gross operating margin +€40,514
up €40,514 (+126%), from €32,032 to €72,546
- Depreciation +€9,304
up €9,304 (+2,277%), from €409 to €9,713
- Taxes +€8,291
up €8,291 (+87.4%), from €9,487 to €17,778
- Financial charges +€809
up €809 (+938%), from €86 to €895
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 | €39,907 | €135,386 | +€95,479 | +239% |
| Fixed assets | 21/28 | €12,516 | €51,122 | +€38,607 | +308% |
| Tangible fixed assets | 22/27 | €12,516 | €51,122 | +€38,607 | +308% |
| Furniture and vehicles | 24 | €8,080 | €39,517 | +€31,437 | +389% |
| Other tangible fixed assets | 26 | €4,436 | €11,605 | +€7,169 | +162% |
| Current assets | 29/58 | €27,392 | €84,263 | +€56,872 | +208% |
| Amounts receivable within one year | 40/41 | €200 | €1,799 | +€1,599 | +799% |
| Trade receivables | 40 | €200 | €1,799 | +€1,599 | +799% |
| Current investments | 50/53 | €1,000 | €6,511 | +€5,511 | +551% |
| Cash at bank and in hand | 54/58 | €26,192 | €75,700 | +€49,509 | +189% |
| Deferred charges and accrued income | 490/1 | - | €253 | +€253 | |
| Total equity and liabilities | 10/49 | €39,907 | €135,386 | +€95,479 | +239% |
| Equity | 10/15 | €24,307 | €68,063 | +€43,756 | +180% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €21,307 | €65,063 | +€43,756 | +205% |
| Distributable reserves | 133 | €21,307 | €65,063 | +€43,756 | +205% |
| Amounts payable | 17/49 | €15,600 | €67,323 | +€51,723 | +332% |
| Amounts payable after more than one year | 17 | - | €28,500 | +€28,500 | |
| Financial debts | 170/4 | - | €28,500 | +€28,500 | |
| Amounts payable within one year | 42/48 | €15,600 | €38,823 | +€23,223 | +149% |
| Current portion of amounts payable after more than one year | 42 | - | €7,799 | +€7,799 | |
| Trade debts | 44 | €694 | €701 | +€7 | +1.0% |
| Suppliers | 440/4 | €694 | €701 | +€7 | +1.0% |
| Taxes, remuneration and social security | 45 | €14,253 | €28,260 | +€14,008 | +98.3% |
| Taxes | 450/3 | €10,487 | €28,260 | +€17,773 | +169% |
| Remuneration and social security | 454/9 | €3,766 | - | -€3,766 | |
| Other amounts payable | 47/48 | €653 | €2,063 | +€1,410 | +216% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €409 | €9,713 | +€9,304 | +2,277% |
| Other operating charges | 640/8 | €744 | €420 | -€323 | -43.5% |
| Gross operating margin | 9900 | €32,032 | €72,546 | +€40,514 | +126% |
| Operating profit (loss) | 9901 | €30,880 | €62,413 | +€31,533 | +102% |
| Financial income | 75/76B | - | €16 | +€16 | |
| Recurring financial income | 75 | - | €16 | +€16 | |
| Financial charges | 65/66B | €86 | €895 | +€809 | +938% |
| Recurring financial charges | 65 | €86 | €895 | +€809 | +938% |
| Profit (loss) for the period before taxes | 9903 | €30,794 | €61,534 | +€30,740 | +99.8% |
| Income taxes | 67/77 | €9,487 | €17,778 | +€8,291 | +87.4% |
| Profit (loss) for the period | 9904 | €21,307 | €43,756 | +€22,448 | +105% |
| Profit (loss) for the period to be appropriated | 9905 | €21,307 | €43,756 | +€22,448 | +105% |
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.