Ledz: 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.
Ledz
Largest movements
- Receivables within one year +€23,218
up €23,218 (+28.4%), from €81,847 to €105,064
of which Other amounts receivable: +€12,444
- Cash -€22,090
down €22,090 (-27.2%), from €81,228 to €59,137
mainly Trade debts (-€31,958) and Receivables within one year (-€23,218)
- Tangible fixed assets -€9,636
down €9,636 (-26.7%), from €36,046 to €26,410
of which Furniture and vehicles: -€10,031
- Trade debts -€31,958
down €31,958 (-67.2%), from €47,527 to €15,569
- Other debts +€21,410
up €21,410 (+153.8%), from €13,919 to €35,328
- Profit (loss) carried forward +€9,547
up €9,547 (+7.9%), from €120,991 to €130,539
- Tax, wage and social debts -€6,770
down €6,770 (-54.8%), from €12,361 to €5,591
of which Taxes: -€6,770
- Gross operating margin -€33,757
down €33,757 (-57.9%), from €58,280 to €24,523
- Taxes -€6,671
down €6,671 (-71.8%), from €9,295 to €2,623
- Financial income +€955
up €955 (+1225.4%), from €78 to €1,033
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 | €199,798 | €192,027 | -€7,772 | -3.9% |
| Fixed assets | 21/28 | €36,046 | €26,410 | -€9,636 | -26.7% |
| Tangible fixed assets | 22/27 | €36,046 | €26,410 | -€9,636 | -26.7% |
| Plant, machinery and equipment | 23 | €6,064 | €6,459 | +€395 | +6.5% |
| Furniture and vehicles | 24 | €29,982 | €19,952 | -€10,031 | -33.5% |
| Current assets | 29/58 | €163,752 | €165,616 | +€1,865 | +1.1% |
| Amounts receivable within one year | 40/41 | €81,847 | €105,064 | +€23,218 | +28.4% |
| Trade receivables | 40 | €71,141 | €81,914 | +€10,773 | +15.1% |
| Other amounts receivable | 41 | €10,705 | €23,150 | +€12,444 | +116.2% |
| Cash at bank and in hand | 54/58 | €81,228 | €59,137 | -€22,090 | -27.2% |
| Deferred charges and accrued income | 490/1 | €678 | €1,415 | +€738 | +108.8% |
| Total equity and liabilities | 10/49 | €199,798 | €192,027 | -€7,772 | -3.9% |
| Equity | 10/15 | €125,991 | €135,539 | +€9,547 | +7.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €120,991 | €130,539 | +€9,547 | +7.9% |
| Amounts payable | 17/49 | €73,807 | €56,488 | -€17,319 | -23.5% |
| Amounts payable within one year | 42/48 | €73,807 | €56,488 | -€17,319 | -23.5% |
| Trade debts | 44 | €47,527 | €15,569 | -€31,958 | -67.2% |
| Suppliers | 440/4 | €47,527 | €15,569 | -€31,958 | -67.2% |
| Taxes, remuneration and social security | 45 | €12,361 | €5,591 | -€6,770 | -54.8% |
| Taxes | 450/3 | €9,176 | €2,406 | -€6,770 | -73.8% |
| Remuneration and social security | 454/9 | €3,185 | €3,185 | = | 0.0% |
| Other amounts payable | 47/48 | €13,919 | €35,328 | +€21,410 | +153.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,831 | €12,136 | +€305 | +2.6% |
| Other operating charges | 640/8 | €1,362 | €1,130 | -€232 | -17.1% |
| Gross operating margin | 9900 | €58,280 | €24,523 | -€33,757 | -57.9% |
| Operating profit (loss) | 9901 | €45,087 | €11,257 | -€33,830 | -75.0% |
| Financial income | 75/76B | €78 | €1,033 | +€955 | +1225.4% |
| Recurring financial income | 75 | €78 | €1,033 | +€955 | +1225.4% |
| Financial charges | 65/66B | €52 | €119 | +€67 | +129.4% |
| Recurring financial charges | 65 | €52 | €119 | +€67 | +129.4% |
| Profit (loss) for the period before taxes | 9903 | €45,113 | €12,170 | -€32,942 | -73.0% |
| Income taxes | 67/77 | €9,295 | €2,623 | -€6,671 | -71.8% |
| Profit (loss) for the period | 9904 | €35,818 | €9,547 | -€26,271 | -73.3% |
| Profit (loss) for the period to be appropriated | 9905 | €35,818 | €9,547 | -€26,271 | -73.3% |
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 11 October 2026 via checked.be.