LTDB: 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.
LTDB
Largest movements
- Tangible fixed assets +€107,615
new in 2025: €107,615
of which Plant, machinery and equipment: +€70,025
- Cash -€62,603
down €62,603 (-54.2%), from €115,571 to €52,968
mainly Investment in fixed assets (net) (-€116,917) and Receivables within one year (-€26,582)
- Receivables within one year +€26,582
up €26,582 (+331.5%), from €8,018 to €34,600
of which Other amounts receivable: +€27,105
- Deferred charges and accrued income +€2,326
up €2,326 (+247.9%), from €938 to €3,265
- Reserves +€59,194
up €59,194 (+61.4%), from €96,415 to €155,609
- Tax, wage and social debts +€8,724
up €8,724 (+43.4%), from €20,079 to €28,803
of which Taxes: +€6,334
- Trade debts +€7,602
up €7,602 (+378.3%), from €2,010 to €9,611
- Other debts -€2,191
down €2,191 (-72.5%), from €3,024 to €833
- Gross operating margin +€28,369
up €28,369 (+41.6%), from €68,223 to €96,592
- Staff costs +€11,919
new in 2025: €11,919
- Depreciation +€9,302
new in 2025: €9,302
- Taxes +€1,122
up €1,122 (+8.0%), from €13,959 to €15,080
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 | €124,527 | €198,448 | +€73,920 | +59.4% |
| Fixed assets | 21/28 | - | €107,615 | +€107,615 | |
| Tangible fixed assets | 22/27 | - | €107,615 | +€107,615 | |
| Plant, machinery and equipment | 23 | - | €70,025 | +€70,025 | |
| Furniture and vehicles | 24 | - | €37,591 | +€37,591 | |
| Current assets | 29/58 | €124,527 | €90,832 | -€33,695 | -27.1% |
| Amounts receivable within one year | 40/41 | €8,018 | €34,600 | +€26,582 | +331.5% |
| Trade receivables | 40 | €8,018 | €7,494 | -€524 | -6.5% |
| Other amounts receivable | 41 | - | €27,105 | +€27,105 | |
| Cash at bank and in hand | 54/58 | €115,571 | €52,968 | -€62,603 | -54.2% |
| Deferred charges and accrued income | 490/1 | €938 | €3,265 | +€2,326 | +247.9% |
| Total equity and liabilities | 10/49 | €124,527 | €198,448 | +€73,920 | +59.4% |
| Equity | 10/15 | €99,415 | €158,609 | +€59,194 | +59.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €96,415 | €155,609 | +€59,194 | +61.4% |
| Distributable reserves | 133 | €96,415 | €155,609 | +€59,194 | +61.4% |
| Amounts payable | 17/49 | €25,113 | €39,839 | +€14,726 | +58.6% |
| Amounts payable within one year | 42/48 | €25,113 | €39,247 | +€14,134 | +56.3% |
| Trade debts | 44 | €2,010 | €9,611 | +€7,602 | +378.3% |
| Suppliers | 440/4 | €2,010 | €9,611 | +€7,602 | +378.3% |
| Taxes, remuneration and social security | 45 | €20,079 | €28,803 | +€8,724 | +43.4% |
| Taxes | 450/3 | €18,324 | €24,658 | +€6,334 | +34.6% |
| Remuneration and social security | 454/9 | €1,755 | €4,145 | +€2,389 | +136.1% |
| Other amounts payable | 47/48 | €3,024 | €833 | -€2,191 | -72.5% |
| Accrued charges and deferred income | 492/3 | - | €592 | +€592 | |
| Remuneration, social security and pensions | 62 | - | €11,919 | +€11,919 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €9,302 | +€9,302 | |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €68,223 | €96,592 | +€28,369 | +41.6% |
| Operating profit (loss) | 9901 | €68,105 | €75,252 | +€7,147 | +10.5% |
| Financial income | 75/76B | €0 | €1 | +€1 | +2550.0% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +2550.0% |
| Financial charges | 65/66B | €79 | €145 | +€66 | +83.9% |
| Recurring financial charges | 65 | €79 | €145 | +€66 | +83.9% |
| Profit (loss) for the period before taxes | 9903 | €68,026 | €75,107 | +€7,081 | +10.4% |
| Income taxes | 67/77 | €13,959 | €15,080 | +€1,122 | +8.0% |
| Profit (loss) for the period | 9904 | €54,068 | €60,027 | +€5,960 | +11.0% |
| Profit (loss) for the period to be appropriated | 9905 | €54,068 | €60,027 | +€5,960 | +11.0% |
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 5 October 2026 via checked.be.