LUDAPHAR: 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.
LUDAPHAR
Largest movements
- Cash -€69,545
down €69,545 (-53.2%), from €130,761 to €61,216
mainly Contributions, distributions and other (-€80,294) and Other debts (-€77,415)
- Receivables within one year -€49,504
down €49,504 (-8.5%), from €579,891 to €530,387
of which Other amounts receivable: -€84,705
- Tangible fixed assets -€26,309
down €26,309 (-2.8%), from €953,565 to €927,256
of which Land and buildings: -€45,914
- Stocks and contracts +€20,516
up €20,516 (+6.7%), from €307,917 to €328,433
- Other debts -€77,415
down €77,415 (-34.0%), from €227,415 to €150,000
- Debts after one year -€43,386
down €43,386 (-9.9%), from €436,337 to €392,951
- Staff costs +€71,345
up €71,345 (+15.0%), from €474,926 to €546,271
- Gross operating margin +€54,771
up €54,771 (+8.9%), from €614,004 to €668,775
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,027,335 | €1,909,768 | -€117,567 | -5.8% |
| Fixed assets | 21/28 | €1,003,565 | €977,256 | -€26,309 | -2.6% |
| Intangible fixed assets | 21 | €50,000 | €50,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €953,565 | €927,256 | -€26,309 | -2.8% |
| Land and buildings | 22 | €920,780 | €874,866 | -€45,914 | -5.0% |
| Plant, machinery and equipment | 23 | €5,409 | €20,283 | +€14,874 | +275.0% |
| Furniture and vehicles | 24 | €27,376 | €32,107 | +€4,731 | +17.3% |
| Current assets | 29/58 | €1,023,770 | €932,512 | -€91,258 | -8.9% |
| Stocks and contracts in progress | 3 | €307,917 | €328,433 | +€20,516 | +6.7% |
| Stocks | 30/36 | €307,917 | €328,433 | +€20,516 | +6.7% |
| Amounts receivable within one year | 40/41 | €579,891 | €530,387 | -€49,504 | -8.5% |
| Trade receivables | 40 | €112,489 | €147,690 | +€35,201 | +31.3% |
| Other amounts receivable | 41 | €467,402 | €382,697 | -€84,705 | -18.1% |
| Cash at bank and in hand | 54/58 | €130,761 | €61,216 | -€69,545 | -53.2% |
| Deferred charges and accrued income | 490/1 | €5,201 | €12,476 | +€7,275 | +139.9% |
| Total equity and liabilities | 10/49 | €2,027,335 | €1,909,768 | -€117,567 | -5.8% |
| Equity | 10/15 | €882,499 | €858,561 | -€23,938 | -2.7% |
| Contributions | 10/11 | €660,000 | €660,000 | = | 0.0% |
| Capital | 10 | €660,000 | €660,000 | = | 0.0% |
| Issued capital | 100 | €660,000 | €660,000 | = | 0.0% |
| Reserves | 13 | €206,621 | €187,976 | -€18,645 | -9.0% |
| Non-distributable reserves | 130/1 | €66,000 | €66,000 | = | 0.0% |
| Legal reserve | 130 | €66,000 | €66,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,961 | €1,961 | = | 0.0% |
| Distributable reserves | 133 | €138,660 | €120,015 | -€18,645 | -13.4% |
| Investment grants | 15 | €15,878 | €10,585 | -€5,293 | -33.3% |
| Amounts payable | 17/49 | €1,144,836 | €1,051,207 | -€93,629 | -8.2% |
| Amounts payable after more than one year | 17 | €436,337 | €392,951 | -€43,386 | -9.9% |
| Financial debts | 170/4 | €436,337 | €392,951 | -€43,386 | -9.9% |
| Amounts payable within one year | 42/48 | €708,415 | €657,920 | -€50,495 | -7.1% |
| Current portion of amounts payable after more than one year | 42 | €52,949 | €55,253 | +€2,304 | +4.4% |
| Trade debts | 44 | €325,629 | €330,135 | +€4,506 | +1.4% |
| Suppliers | 440/4 | €325,629 | €330,135 | +€4,506 | +1.4% |
| Taxes, remuneration and social security | 45 | €102,422 | €122,532 | +€20,110 | +19.6% |
| Taxes | 450/3 | €5,409 | €20,424 | +€15,015 | +277.6% |
| Remuneration and social security | 454/9 | €97,013 | €102,108 | +€5,095 | +5.3% |
| Other amounts payable | 47/48 | €227,415 | €150,000 | -€77,415 | -34.0% |
| Accrued charges and deferred income | 492/3 | €84 | €336 | +€252 | +300.0% |
| Non-recurring operating income | 76A | €14,849 | - | -€14,849 | |
| Remuneration, social security and pensions | 62 | €474,926 | €546,271 | +€71,345 | +15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,065 | €57,302 | -€2,763 | -4.6% |
| Other operating charges | 640/8 | €5,139 | €5,381 | +€242 | +4.7% |
| Gross operating margin | 9900 | €614,004 | €668,775 | +€54,771 | +8.9% |
| Operating profit (loss) | 9901 | €73,874 | €59,821 | -€14,053 | -19.0% |
| Financial income | 75/76B | €5,916 | €5,987 | +€71 | +1.2% |
| Recurring financial income | 75 | €5,916 | €5,987 | +€71 | +1.2% |
| Financial charges | 65/66B | €9,585 | €9,133 | -€452 | -4.7% |
| Recurring financial charges | 65 | €9,585 | €9,133 | -€452 | -4.7% |
| Profit (loss) for the period before taxes | 9903 | €70,205 | €56,675 | -€13,530 | -19.3% |
| Income taxes | 67/77 | €235 | €319 | +€84 | +35.7% |
| Profit (loss) for the period | 9904 | €69,970 | €56,356 | -€13,614 | -19.5% |
| Profit (loss) for the period to be appropriated | 9905 | €69,970 | €56,356 | -€13,614 | -19.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.