LEDOUX PHILIPPE: 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.
LEDOUX PHILIPPE
Largest movements
- Cash +€32,123
up €32,123 (+29.5%), from €108,802 to €140,924
mainly Net result for the year (+€40,162) and Depreciation (+€19,557)
- Tangible fixed assets -€19,557
down €19,557 (-36.6%), from €53,386 to €33,829
of which Furniture and vehicles: -€16,503
- Receivables within one year +€7,251
up €7,251 (+48.8%), from €14,854 to €22,105
of which Trade receivables: +€7,251
- Deferred charges and accrued income -€2,643
down €2,643 (-51.1%), from €5,169 to €2,526
- Profit (loss) carried forward +€31,082
up €31,082, from -€31,082 to €0
- Tax, wage and social debts +€17,743
up €17,743 (+34.4%), from €51,573 to €69,317
of which Taxes: +€19,764
- Debts after one year -€13,695
down €13,695 (-64.8%), from €21,141 to €7,446
- Reserves -€10,027
down €10,027 (-9.3%), from €107,724 to €97,697
of which Distributable reserves: -€10,027
- Trade debts -€6,144
down €6,144 (-84.2%), from €7,295 to €1,151
- Gross operating margin +€49,518
up €49,518 (+18.2%), from €272,609 to €322,127
- Taxes +€10,809
up €10,809 (+5374.0%), from €201 to €11,010
- Staff costs +€6,738
up €6,738 (+2.8%), from €242,041 to €248,779
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 | €184,965 | €202,139 | +€17,174 | +9.3% |
| Fixed assets | 21/28 | €56,141 | €36,584 | -€19,557 | -34.8% |
| Tangible fixed assets | 22/27 | €53,386 | €33,829 | -€19,557 | -36.6% |
| Plant, machinery and equipment | 23 | €13,079 | €10,025 | -€3,054 | -23.3% |
| Furniture and vehicles | 24 | €40,307 | €23,804 | -€16,503 | -40.9% |
| Financial fixed assets | 28 | €2,755 | €2,755 | = | 0.0% |
| Current assets | 29/58 | €128,824 | €165,555 | +€36,731 | +28.5% |
| Amounts receivable within one year | 40/41 | €14,854 | €22,105 | +€7,251 | +48.8% |
| Trade receivables | 40 | €14,232 | €21,483 | +€7,251 | +51.0% |
| Other amounts receivable | 41 | €622 | €622 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €108,802 | €140,924 | +€32,123 | +29.5% |
| Deferred charges and accrued income | 490/1 | €5,169 | €2,526 | -€2,643 | -51.1% |
| Total equity and liabilities | 10/49 | €184,965 | €202,139 | +€17,174 | +9.3% |
| Equity | 10/15 | €84,005 | €105,059 | +€21,055 | +25.1% |
| Contributions | 10/11 | €7,362 | €7,362 | = | 0.0% |
| Reserves | 13 | €107,724 | €97,697 | -€10,027 | -9.3% |
| Non-distributable reserves | 130/1 | €1,897 | €1,897 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,897 | €1,897 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €87,077 | €77,050 | -€10,027 | -11.5% |
| Profit (loss) carried forward | 14 | -€31,082 | €0 | +€31,082 | |
| Amounts payable | 17/49 | €100,961 | €97,080 | -€3,881 | -3.8% |
| Amounts payable after more than one year | 17 | €21,141 | €7,446 | -€13,695 | -64.8% |
| Financial debts | 170/4 | €21,141 | €7,446 | -€13,695 | -64.8% |
| Amounts payable within one year | 42/48 | €79,819 | €89,633 | +€9,814 | +12.3% |
| Current portion of amounts payable after more than one year | 42 | €18,679 | €13,695 | -€4,984 | -26.7% |
| Trade debts | 44 | €7,295 | €1,151 | -€6,144 | -84.2% |
| Suppliers | 440/4 | €7,295 | €1,151 | -€6,144 | -84.2% |
| Taxes, remuneration and social security | 45 | €51,573 | €69,317 | +€17,743 | +34.4% |
| Taxes | 450/3 | €11,753 | €31,517 | +€19,764 | +168.2% |
| Remuneration and social security | 454/9 | €39,820 | €37,800 | -€2,020 | -5.1% |
| Other amounts payable | 47/48 | €2,272 | €5,471 | +€3,199 | +140.8% |
| Remuneration, social security and pensions | 62 | €242,041 | €248,779 | +€6,738 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,539 | €19,557 | +€1,018 | +5.5% |
| Other operating charges | 640/8 | €1,883 | €1,907 | +€23 | +1.2% |
| Gross operating margin | 9900 | €272,609 | €322,127 | +€49,518 | +18.2% |
| Operating profit (loss) | 9901 | €10,146 | €51,884 | +€41,739 | +411.4% |
| Financial income | 75/76B | €94 | €430 | +€335 | +354.9% |
| Recurring financial income | 75 | €94 | €430 | +€335 | +354.9% |
| Financial charges | 65/66B | €1,131 | €1,141 | +€11 | +0.9% |
| Recurring financial charges | 65 | €1,131 | €1,141 | +€11 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | €9,109 | €51,172 | +€42,063 | +461.8% |
| Income taxes | 67/77 | €201 | €11,010 | +€10,809 | +5374.0% |
| Profit (loss) for the period | 9904 | €8,908 | €40,162 | +€31,254 | +350.9% |
| Profit (loss) for the period to be appropriated | 9905 | €8,908 | €40,162 | +€31,254 | +350.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.