LUDEBO: 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.
LUDEBO
Largest movements
- Cash +€44,445
up €44,445 (+77.1%), from €57,623 to €102,067
mainly Net result for the year (+€46,687) and Current portion of long-term debt (+€8,163)
- Receivables within one year -€7,985
down €7,985 (-22.3%), from €35,884 to €27,899
of which Other amounts receivable: -€11,933
- Deferred charges and accrued income +€2,180
up €2,180 (+56.5%), from €3,859 to €6,040
- Profit (loss) carried forward +€46,687
up €46,687 (+74.0%), from -€63,050 to -€16,363
- Other debts -€16,541
down €16,541 (-21.1%), from €78,359 to €61,818
- Current portion of long-term debt +€8,163
up €8,163 (+188.2%), from €4,337 to €12,500
- Accrued charges and deferred income -€6,293
down €6,293 (-93.3%), from €6,746 to €454
- Debts after one year +€5,208
up €5,208, from €0 to €5,208
- Gross operating margin +€24,963
up €24,963 (+74.6%), from €33,458 to €58,421
- Financial charges -€4,811
down €4,811 (-56.5%), from €8,513 to €3,703
- Taxes +€1,761
up €1,761 (+92.2%), from €1,909 to €3,670
- Financial income +€1,475
up €1,475 (+539.8%), from €273 to €1,748
- Other operating charges +€1,002
up €1,002 (+60.9%), from €1,645 to €2,648
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 | €102,705 | €140,877 | +€38,171 | +37.2% |
| Fixed assets | 21/28 | €5,340 | €4,871 | -€469 | -8.8% |
| Tangible fixed assets | 22/27 | €5,340 | €4,871 | -€469 | -8.8% |
| Plant, machinery and equipment | 23 | €1,740 | €1,505 | -€235 | -13.5% |
| Furniture and vehicles | 24 | €3,600 | €1,772 | -€1,828 | -50.8% |
| Assets under construction and advance payments | 27 | - | €1,594 | +€1,594 | |
| Current assets | 29/58 | €97,366 | €136,006 | +€38,640 | +39.7% |
| Amounts receivable within one year | 40/41 | €35,884 | €27,899 | -€7,985 | -22.3% |
| Trade receivables | 40 | €17,564 | €21,511 | +€3,948 | +22.5% |
| Other amounts receivable | 41 | €18,320 | €6,387 | -€11,933 | -65.1% |
| Cash at bank and in hand | 54/58 | €57,623 | €102,067 | +€44,445 | +77.1% |
| Deferred charges and accrued income | 490/1 | €3,859 | €6,040 | +€2,180 | +56.5% |
| Total equity and liabilities | 10/49 | €102,705 | €140,877 | +€38,171 | +37.2% |
| Equity | 10/15 | €6,409 | €53,096 | +€46,687 | +728.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €63,259 | €63,259 | = | 0.0% |
| Distributable reserves | 133 | €63,259 | €63,259 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€63,050 | -€16,363 | +€46,687 | +74.0% |
| Amounts payable | 17/49 | €96,296 | €87,781 | -€8,516 | -8.8% |
| Amounts payable after more than one year | 17 | €0 | €5,208 | +€5,208 | |
| Financial debts | 170/4 | €0 | €5,208 | +€5,208 | |
| Amounts payable within one year | 42/48 | €89,550 | €82,119 | -€7,431 | -8.3% |
| Current portion of amounts payable after more than one year | 42 | €4,337 | €12,500 | +€8,163 | +188.2% |
| Trade debts | 44 | €1,447 | €3,606 | +€2,158 | +149.1% |
| Suppliers | 440/4 | €1,447 | €3,606 | +€2,158 | +149.1% |
| Taxes, remuneration and social security | 45 | €5,406 | €4,195 | -€1,212 | -22.4% |
| Taxes | 450/3 | €5,406 | €4,195 | -€1,212 | -22.4% |
| Other amounts payable | 47/48 | €78,359 | €61,818 | -€16,541 | -21.1% |
| Accrued charges and deferred income | 492/3 | €6,746 | €454 | -€6,293 | -93.3% |
| Non-recurring operating income | 76A | - | €6,249 | +€6,249 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,553 | €3,462 | -€91 | -2.6% |
| Other operating charges | 640/8 | €1,645 | €2,648 | +€1,002 | +60.9% |
| Gross operating margin | 9900 | €33,458 | €58,421 | +€24,963 | +74.6% |
| Operating profit (loss) | 9901 | €28,260 | €52,311 | +€24,051 | +85.1% |
| Financial income | 75/76B | €273 | €1,748 | +€1,475 | +539.8% |
| Recurring financial income | 75 | €273 | €1,748 | +€1,475 | +539.8% |
| Financial charges | 65/66B | €8,513 | €3,703 | -€4,811 | -56.5% |
| Recurring financial charges | 65 | €8,513 | €3,703 | -€4,811 | -56.5% |
| Profit (loss) for the period before taxes | 9903 | €20,020 | €50,357 | +€30,337 | +151.5% |
| Income taxes | 67/77 | €1,909 | €3,670 | +€1,761 | +92.2% |
| Profit (loss) for the period | 9904 | €18,111 | €46,687 | +€28,576 | +157.8% |
| Profit (loss) for the period to be appropriated | 9905 | €18,111 | €46,687 | +€28,576 | +157.8% |
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 4 October 2026 via checked.be.