LEDSREACT: 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.
What changed
LEDSREACT
NACE 32.300, Other manufacturing
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
-€918,404
2023 · -€870,130-€48,273
Equity
-€26,509
2023 · -€635,318+€608,809
Cash
€29,366
2023 · €31,010-€1,644
Balance sheet total
€1.3m
2023 · €1.6m-€269,495
Largest movements
Assets
- Intangible fixed assets -€234,641
down €234,641 (-20.1%), from €1.2m to €935,416
- Stocks and contracts -€52,958
down €52,958 (-47.7%), from €110,947 to €57,988
- Receivables within one year +€38,171
up €38,171 (+29.0%), from €131,846 to €170,017
of which Trade receivables: +€35,084
Equity and liabilities
- Contributions +€1.6m
up €1.6m (+214%), from €733,568 to €2.3m
- Debts after one year -€933,966
down €933,966 (-90.5%), from €1.0m to €98,452
- Profit (loss) carried forward -€918,404
down €918,404 (-60.3%), from -€1.5m to -€2.4m
- Current portion of long-term debt +€339,039
up €339,039 (+63.8%), from €531,648 to €870,688
- Trade debts -€123,389
down €123,389 (-27.0%), from €456,462 to €333,074
Income statement
- Write-downs +€203,330
new in 2024: €203,330
- Financial income +€72,322
up €72,322 (+271%), from €26,650 to €98,972
- Financial charges -€64,991
down €64,991 (-81.7%), from €79,523 to €14,532
- Depreciation +€59,978
up €59,978 (+20.1%), from €298,750 to €358,729
- Gross operating margin +€51,762
up €51,762 (+12.7%), from -€406,921 to -€355,159
From the 2023 result to the 2024 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.
Result 2023
-€870,130
Gross operating margin
+€51,762
Staff costs
+€41,244
Depreciation
-€59,978
Write-downs
-€203,330
Other operating charges
+€8,324
Other operating items
+€8,660
Financial income
+€72,322
Financial charges
+€64,991
Taxes
-€32,267
Result 2024
-€918,404
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€745,203
Investment
-€113,727
Financing
+€857,286
Cash 2023
€31,010
From operations (derived)
-€745,203
Net result for the year
-€918,404
Depreciation
+€358,729
Stocks and contracts
+€52,958
Receivables within one year
-€38,171
Deferred charges and accrued income
+€8,061
Trade debts
-€123,389
Tax, wage and social debts
-€23,108
Other debts
-€10,050
Accrued charges and deferred income
-€51,830
Investment (derived)
-€113,727
Investment in fixed assets (net)
-€113,727
Financing
+€857,286
Debts after one year
-€933,966
Current portion of long-term debt
+€339,039
Short-term financial debts
-€75,000
Contributions, distributions and other
+€1.5m
Cash 2024
€29,366
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,552,303 | €1,282,808 | -€269,495 | -17.4% |
| Fixed assets | 21/28 | €1,205,145 | €960,143 | -€245,002 | -20.3% |
| Intangible fixed assets | 21 | €1,170,057 | €935,416 | -€234,641 | -20.1% |
| Tangible fixed assets | 22/27 | €32,184 | €24,727 | -€7,457 | -23.2% |
| Plant, machinery and equipment | 23 | €30,431 | €23,945 | -€6,486 | -21.3% |
| Furniture and vehicles | 24 | €1,753 | €782 | -€971 | -55.4% |
| Financial fixed assets | 28 | €2,904 | €0 | -€2,904 | -100% |
| Current assets | 29/58 | €347,158 | €322,665 | -€24,493 | -7.1% |
| Stocks and contracts in progress | 3 | €110,947 | €57,988 | -€52,958 | -47.7% |
| Stocks | 30/36 | €110,947 | €57,988 | -€52,958 | -47.7% |
| Amounts receivable within one year | 40/41 | €131,846 | €170,017 | +€38,171 | +29.0% |
| Trade receivables | 40 | €105,943 | €141,027 | +€35,084 | +33.1% |
| Other amounts receivable | 41 | €25,903 | €28,989 | +€3,087 | +11.9% |
| Cash at bank and in hand | 54/58 | €31,010 | €29,366 | -€1,644 | -5.3% |
| Deferred charges and accrued income | 490/1 | €73,356 | €65,294 | -€8,061 | -11.0% |
| Total equity and liabilities | 10/49 | €1,552,303 | €1,282,808 | -€269,495 | -17.4% |
| Equity | 10/15 | -€635,318 | -€26,509 | +€608,809 | +95.8% |
| Contributions | 10/11 | €733,568 | €2,306,408 | +€1.6m | +214% |
| Reserves | 13 | €1,328 | €1,328 | = | 0.0% |
| Distributable reserves | 133 | €1,328 | €1,328 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,522,076 | -€2,440,480 | -€918,404 | -60.3% |
| Investment grants | 15 | €151,863 | €106,235 | -€45,628 | -30.0% |
| Amounts payable | 17/49 | €2,187,621 | €1,309,317 | -€878,303 | -40.1% |
| Amounts payable after more than one year | 17 | €1,032,418 | €98,452 | -€933,966 | -90.5% |
| Financial debts | 170/4 | €1,032,418 | €98,452 | -€933,966 | -90.5% |
| Amounts payable within one year | 42/48 | €1,103,372 | €1,210,865 | +€107,492 | +9.7% |
| Current portion of amounts payable after more than one year | 42 | €531,648 | €870,688 | +€339,039 | +63.8% |
| Financial debts | 43 | €75,000 | €0 | -€75,000 | -100% |
| Credit institutions | 430/8 | €75,000 | €0 | -€75,000 | -100% |
| Trade debts | 44 | €456,462 | €333,074 | -€123,389 | -27.0% |
| Suppliers | 440/4 | €456,462 | €333,074 | -€123,389 | -27.0% |
| Taxes, remuneration and social security | 45 | €30,212 | €7,103 | -€23,108 | -76.5% |
| Taxes | 450/3 | €5,169 | €420 | -€4,749 | -91.9% |
| Remuneration and social security | 454/9 | €25,043 | €6,683 | -€18,359 | -73.3% |
| Other amounts payable | 47/48 | €10,050 | €0 | -€10,050 | -100% |
| Accrued charges and deferred income | 492/3 | €51,830 | €0 | -€51,830 | -100% |
| Remuneration, social security and pensions | 62 | €114,772 | €73,528 | -€41,244 | -35.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €298,750 | €358,729 | +€59,978 | +20.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €203,330 | +€203,330 | |
| Other operating charges | 640/8 | €24,549 | €16,225 | -€8,324 | -33.9% |
| Non-recurring operating charges | 66A | €8,660 | €0 | -€8,660 | -100% |
| Gross operating margin | 9900 | -€406,921 | -€355,159 | +€51,762 | +12.7% |
| Operating profit (loss) | 9901 | -€853,652 | -€1,006,971 | -€153,319 | -18.0% |
| Financial income | 75/76B | €26,650 | €98,972 | +€72,322 | +271% |
| Recurring financial income | 75 | €26,650 | €98,972 | +€72,322 | +271% |
| Financial charges | 65/66B | €79,523 | €14,532 | -€64,991 | -81.7% |
| Recurring financial charges | 65 | €79,523 | €14,532 | -€64,991 | -81.7% |
| Profit (loss) for the period before taxes | 9903 | -€906,525 | -€922,531 | -€16,006 | -1.8% |
| Income taxes | 67/77 | -€36,395 | -€4,128 | +€32,267 | +88.7% |
| Profit (loss) for the period | 9904 | -€870,130 | -€918,404 | -€48,273 | -5.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€870,130 | -€918,404 | -€48,273 | -5.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.