LEDUC: 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.
LEDUC
Largest movements
- Cash +€7,426
up €7,426 (+2000.8%), from €371 to €7,797
mainly Net result for the year (+€9,247) and Trade debts (+€536)
- Receivables within one year +€604
up €604 (+574.3%), from €105 to €709
of which Other amounts receivable: +€604
- Profit (loss) carried forward +€9,247
up €9,247 (+18.1%), from -€51,160 to -€41,913
- Other debts -€1,754
down €1,754 (-3.9%), from €45,326 to €43,572
- Trade debts +€536
up €536 (+484.1%), from €111 to €647
- Gross operating margin +€3,934
up €3,934 (+107.4%), from €3,665 to €7,599
- Financial income +€2,130
up €2,130 (+7147.7%), from €30 to €2,160
- Write-downs -€741
no longer reported in 2025 (was €741)
- Other operating charges +€463
up €463, from €0 to €463
- Financial charges -€142
down €142 (-74.8%), from €190 to €48
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 | €476 | €8,505 | +€8,029 | +1686.0% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Current assets | 29/58 | €476 | €8,505 | +€8,029 | +1686.0% |
| Amounts receivable within one year | 40/41 | €105 | €709 | +€604 | +574.3% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €105 | €709 | +€604 | +574.3% |
| Cash at bank and in hand | 54/58 | €371 | €7,797 | +€7,426 | +2000.8% |
| Total equity and liabilities | 10/49 | €476 | €8,505 | +€8,029 | +1686.0% |
| Equity | 10/15 | -€44,960 | -€35,713 | +€9,247 | +20.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€51,160 | -€41,913 | +€9,247 | +18.1% |
| Amounts payable | 17/49 | €45,437 | €44,218 | -€1,218 | -2.7% |
| Amounts payable within one year | 42/48 | €45,437 | €44,218 | -€1,218 | -2.7% |
| Trade debts | 44 | €111 | €647 | +€536 | +484.1% |
| Suppliers | 440/4 | €111 | €647 | +€536 | +484.1% |
| Other amounts payable | 47/48 | €45,326 | €43,572 | -€1,754 | -3.9% |
| Non-recurring operating income | 76A | €4,000 | - | -€4,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €741 | - | -€741 | |
| Other operating charges | 640/8 | €0 | €463 | +€463 | |
| Non-recurring operating charges | 66A | €201 | - | -€201 | |
| Gross operating margin | 9900 | €3,665 | €7,599 | +€3,934 | +107.4% |
| Operating profit (loss) | 9901 | €2,722 | €7,135 | +€4,413 | +162.1% |
| Financial income | 75/76B | €30 | €2,160 | +€2,130 | +7147.7% |
| Recurring financial income | 75 | €30 | €2,160 | +€2,130 | +7147.7% |
| Financial charges | 65/66B | €190 | €48 | -€142 | -74.8% |
| Recurring financial charges | 65 | €190 | €48 | -€142 | -74.8% |
| Profit (loss) for the period before taxes | 9903 | €2,562 | €9,247 | +€6,685 | +260.9% |
| Profit (loss) for the period | 9904 | €2,562 | €9,247 | +€6,685 | +260.9% |
| Profit (loss) for the period to be appropriated | 9905 | €2,562 | €9,247 | +€6,685 | +260.9% |
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 8 October 2026 via checked.be.