LUDAMAR: 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.
LUDAMAR
Largest movements
- Cash +€113,027
up €113,027 (+53.2%), from €212,561 to €325,588
mainly Receivables within one year (+€78,666) and Net result for the year (+€37,771)
- Receivables within one year -€78,666
down €78,666 (-7.9%), from €996,037 to €917,371
- Reserves +€37,771
up €37,771 (+20.8%), from €181,311 to €219,082
of which Distributable reserves: +€37,771
- Financial charges -€57,214
down €57,214 (-99.1%), from €57,743 to €528
- Taxes +€5,502
new in 2025: €5,502
- Financial income +€3,449
new in 2025: €3,449
- Gross operating margin -€438
down €438 (-1.0%), from €42,059 to €41,622
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 | €3,309,759 | €3,344,120 | +€34,361 | +1.0% |
| Fixed assets | 21/28 | €2,101,161 | €2,101,161 | = | 0.0% |
| Financial fixed assets | 28 | €2,101,161 | €2,101,161 | = | 0.0% |
| Current assets | 29/58 | €1,208,598 | €1,242,959 | +€34,361 | +2.8% |
| Amounts receivable within one year | 40/41 | €996,037 | €917,371 | -€78,666 | -7.9% |
| Other amounts receivable | 41 | €996,037 | €917,371 | -€78,666 | -7.9% |
| Cash at bank and in hand | 54/58 | €212,561 | €325,588 | +€113,027 | +53.2% |
| Total equity and liabilities | 10/49 | €3,309,759 | €3,344,120 | +€34,361 | +1.0% |
| Equity | 10/15 | €242,811 | €280,582 | +€37,771 | +15.6% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €181,311 | €219,082 | +€37,771 | +20.8% |
| Non-distributable reserves | 130/1 | €23,634 | €23,634 | = | 0.0% |
| Legal reserve | 130 | €23,634 | €23,634 | = | 0.0% |
| Distributable reserves | 133 | €157,678 | €195,448 | +€37,771 | +24.0% |
| Amounts payable | 17/49 | €3,066,948 | €3,063,538 | -€3,410 | -0.1% |
| Amounts payable within one year | 42/48 | €2,899,537 | €2,896,127 | -€3,410 | -0.1% |
| Trade debts | 44 | - | €1,386 | +€1,386 | |
| Suppliers | 440/4 | - | €1,386 | +€1,386 | |
| Taxes, remuneration and social security | 45 | €8,179 | €11,494 | +€3,315 | +40.5% |
| Taxes | 450/3 | €8,179 | €11,494 | +€3,315 | +40.5% |
| Other amounts payable | 47/48 | €2,891,359 | €2,883,248 | -€8,111 | -0.3% |
| Accrued charges and deferred income | 492/3 | €167,410 | €167,410 | = | 0.0% |
| Other operating charges | 640/8 | €1,231 | €1,270 | +€38 | +3.1% |
| Gross operating margin | 9900 | €42,059 | €41,622 | -€438 | -1.0% |
| Operating profit (loss) | 9901 | €40,828 | €40,352 | -€476 | -1.2% |
| Financial income | 75/76B | - | €3,449 | +€3,449 | |
| Recurring financial income | 75 | - | €3,449 | +€3,449 | |
| Financial charges | 65/66B | €57,743 | €528 | -€57,214 | -99.1% |
| Recurring financial charges | 65 | €57,743 | €528 | -€57,214 | -99.1% |
| Profit (loss) for the period before taxes | 9903 | -€16,914 | €43,273 | +€60,188 | |
| Income taxes | 67/77 | - | €5,502 | +€5,502 | |
| Profit (loss) for the period | 9904 | -€16,914 | €37,771 | +€54,685 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,914 | €37,771 | +€54,685 |
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.