LEDUKAS: 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.
LEDUKAS
Largest movements
- Tangible fixed assets +€326,389
up €326,389 (+1555.7%), from €20,980 to €347,369
of which Land and buildings: +€329,173
- Cash -€35,672
down €35,672 (-51.8%), from €68,833 to €33,161
mainly Investment in fixed assets (net) (-€385,661) and Receivables within one year (-€17,752)
- Receivables within one year +€17,752
new in 2025: €17,752
- Debts after one year +€253,684
new in 2025: €253,684
- Other debts +€33,395
up €33,395 (+927.6%), from €3,600 to €36,995
- Profit (loss) carried forward +€21,004
up €21,004 (+36.1%), from €58,258 to €79,261
- Current portion of long-term debt +€9,769
new in 2025: €9,769
- Tax, wage and social debts -€9,051
down €9,051 (-37.3%), from €24,286 to €15,235
- Depreciation +€51,407
up €51,407 (+653.6%), from €7,865 to €59,272
- Gross operating margin +€11,296
up €11,296 (+13.6%), from €83,259 to €94,555
- Taxes -€9,412
down €9,412 (-58.9%), from €15,974 to €6,562
- Financial charges +€6,027
up €6,027 (+12773.8%), from €47 to €6,074
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 | €89,813 | €398,281 | +€308,468 | +343.5% |
| Fixed assets | 21/28 | €20,980 | €347,369 | +€326,389 | +1555.7% |
| Tangible fixed assets | 22/27 | €20,980 | €347,369 | +€326,389 | +1555.7% |
| Land and buildings | 22 | - | €329,173 | +€329,173 | |
| Furniture and vehicles | 24 | €20,980 | €18,195 | -€2,785 | -13.3% |
| Current assets | 29/58 | €68,833 | €50,913 | -€17,920 | -26.0% |
| Amounts receivable within one year | 40/41 | - | €17,752 | +€17,752 | |
| Trade receivables | 40 | - | €17,752 | +€17,752 | |
| Cash at bank and in hand | 54/58 | €68,833 | €33,161 | -€35,672 | -51.8% |
| Total equity and liabilities | 10/49 | €89,813 | €398,281 | +€308,468 | +343.5% |
| Equity | 10/15 | €61,258 | €82,261 | +€21,004 | +34.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,258 | €79,261 | +€21,004 | +36.1% |
| Amounts payable | 17/49 | €28,555 | €316,020 | +€287,465 | +1006.7% |
| Amounts payable after more than one year | 17 | - | €253,684 | +€253,684 | |
| Financial debts | 170/4 | - | €253,684 | +€253,684 | |
| Amounts payable within one year | 42/48 | €28,555 | €62,336 | +€33,781 | +118.3% |
| Current portion of amounts payable after more than one year | 42 | - | €9,769 | +€9,769 | |
| Trade debts | 44 | €669 | €338 | -€331 | -49.5% |
| Suppliers | 440/4 | €669 | €338 | -€331 | -49.5% |
| Taxes, remuneration and social security | 45 | €24,286 | €15,235 | -€9,051 | -37.3% |
| Taxes | 450/3 | €24,286 | €15,235 | -€9,051 | -37.3% |
| Other amounts payable | 47/48 | €3,600 | €36,995 | +€33,395 | +927.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,865 | €59,272 | +€51,407 | +653.6% |
| Other operating charges | 640/8 | €1,120 | €1,648 | +€528 | +47.1% |
| Gross operating margin | 9900 | €83,259 | €94,555 | +€11,296 | +13.6% |
| Operating profit (loss) | 9901 | €74,274 | €33,635 | -€40,640 | -54.7% |
| Financial income | 75/76B | €5 | €5 | = | 0.0% |
| Recurring financial income | 75 | €5 | €5 | = | 0.0% |
| Financial charges | 65/66B | €47 | €6,074 | +€6,027 | +12773.8% |
| Recurring financial charges | 65 | €47 | €6,074 | +€6,027 | +12773.8% |
| Profit (loss) for the period before taxes | 9903 | €74,232 | €27,566 | -€46,666 | -62.9% |
| Income taxes | 67/77 | €15,974 | €6,562 | -€9,412 | -58.9% |
| Profit (loss) for the period | 9904 | €58,258 | €21,004 | -€37,254 | -63.9% |
| Profit (loss) for the period to be appropriated | 9905 | €58,258 | €21,004 | -€37,254 | -63.9% |
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 3 October 2026 via checked.be.