LNDD: 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.
LNDD
Largest movements
- Tangible fixed assets +€89,081
up €89,081 (+2159.6%), from €4,125 to €93,206
of which Furniture and vehicles: +€84,237
- Receivables within one year +€59,086
up €59,086 (+292.2%), from €20,222 to €79,308
of which Trade receivables: +€79,308
- Cash -€46,479
down €46,479 (-14.1%), from €329,606 to €283,126
mainly Contributions, distributions and other (-€300,000) and Investment in fixed assets (net) (-€93,671)
- Financial fixed assets -€14,000
down €14,000 (-14.8%), from €94,821 to €80,821
- Deferred charges and accrued income -€5,447
down €5,447 (-85.4%), from €6,377 to €929
- Other debts +€147,577
up €147,577 (+98.4%), from €150,000 to €297,577
- Profit (loss) carried forward -€127,921
down €127,921 (-45.5%), from €281,397 to €153,475
- Debts after one year +€44,534
new in 2025: €44,534
- Current portion of long-term debt +€19,589
new in 2025: €19,589
- Gross operating margin +€77,303
up €77,303 (+46.7%), from €165,678 to €242,981
- Taxes +€14,203
up €14,203 (+37.1%), from €38,330 to €52,533
- Depreciation +€7,592
up €7,592 (+69.0%), from €10,998 to €18,590
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 | €455,150 | €537,391 | +€82,240 | +18.1% |
| Fixed assets | 21/28 | €98,946 | €174,027 | +€75,081 | +75.9% |
| Tangible fixed assets | 22/27 | €4,125 | €93,206 | +€89,081 | +2159.6% |
| Furniture and vehicles | 24 | €4,125 | €88,362 | +€84,237 | +2042.1% |
| Other tangible fixed assets | 26 | - | €4,844 | +€4,844 | |
| Financial fixed assets | 28 | €94,821 | €80,821 | -€14,000 | -14.8% |
| Current assets | 29/58 | €356,205 | €363,364 | +€7,159 | +2.0% |
| Amounts receivable within one year | 40/41 | €20,222 | €79,308 | +€59,086 | +292.2% |
| Trade receivables | 40 | - | €79,308 | +€79,308 | |
| Other amounts receivable | 41 | €20,222 | €0 | -€20,222 | -100.0% |
| Cash at bank and in hand | 54/58 | €329,606 | €283,126 | -€46,479 | -14.1% |
| Deferred charges and accrued income | 490/1 | €6,377 | €929 | -€5,447 | -85.4% |
| Total equity and liabilities | 10/49 | €455,150 | €537,391 | +€82,240 | +18.1% |
| Equity | 10/15 | €286,397 | €158,475 | -€127,921 | -44.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €281,397 | €153,475 | -€127,921 | -45.5% |
| Amounts payable | 17/49 | €168,754 | €378,915 | +€210,162 | +124.5% |
| Amounts payable after more than one year | 17 | - | €44,534 | +€44,534 | |
| Financial debts | 170/4 | - | €44,534 | +€44,534 | |
| Amounts payable within one year | 42/48 | €168,754 | €334,382 | +€165,628 | +98.1% |
| Current portion of amounts payable after more than one year | 42 | - | €19,589 | +€19,589 | |
| Trade debts | 44 | €3,939 | €765 | -€3,174 | -80.6% |
| Suppliers | 440/4 | €3,939 | €765 | -€3,174 | -80.6% |
| Taxes, remuneration and social security | 45 | €14,814 | €16,450 | +€1,636 | +11.0% |
| Taxes | 450/3 | €14,814 | €16,450 | +€1,636 | +11.0% |
| Other amounts payable | 47/48 | €150,000 | €297,577 | +€147,577 | +98.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,998 | €18,590 | +€7,592 | +69.0% |
| Other operating charges | 640/8 | €1,109 | €1,250 | +€142 | +12.8% |
| Gross operating margin | 9900 | €165,678 | €242,981 | +€77,303 | +46.7% |
| Operating profit (loss) | 9901 | €153,572 | €223,141 | +€69,569 | +45.3% |
| Financial income | 75/76B | €3,058 | €3,449 | +€391 | +12.8% |
| Recurring financial income | 75 | €3,058 | €3,449 | +€391 | +12.8% |
| Financial charges | 65/66B | €138 | €1,978 | +€1,840 | +1330.0% |
| Recurring financial charges | 65 | €138 | €1,978 | +€1,840 | +1330.0% |
| Profit (loss) for the period before taxes | 9903 | €156,491 | €224,612 | +€68,120 | +43.5% |
| Income taxes | 67/77 | €38,330 | €52,533 | +€14,203 | +37.1% |
| Profit (loss) for the period | 9904 | €118,161 | €172,079 | +€53,917 | +45.6% |
| Profit (loss) for the period to be appropriated | 9905 | €118,161 | €172,079 | +€53,917 | +45.6% |
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 6 October 2026 via checked.be.