LUDERIKA: what changed
Two financial 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.
LUDERIKA
Largest movements
- Receivables within one year -€188,458
down €188,458 (-97.0%), from €194,294 to €5,836
of which Trade receivables: -€174,164
- Debts after one year -€137,645
down €137,645 (-7.3%), from €1.9m to €1.7m
- Other debts -€125,703
down €125,703 (-5.8%), from €2.2m to €2.0m
- Gross operating margin +€14,346
up €14,346 (+6.8%), from €209,483 to €223,828
- Other operating charges +€5,158
up €5,158 (+65.1%), from €7,927 to €13,085
- Financial charges +€4,737
up €4,737 (+12.9%), from €36,601 to €41,338
- Depreciation +€3,462
up €3,462 (+2.7%), from €129,150 to €132,612
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.
Derived cash bridge
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 | €4,329,925 | €4,090,756 | -€239,169 | -5.5% |
| Fixed assets | 21/28 | €4,099,167 | €4,057,231 | -€41,936 | -1.0% |
| Tangible fixed assets | 22/27 | €4,099,167 | €4,057,231 | -€41,936 | -1.0% |
| Land and buildings | 22 | €4,082,656 | €4,057,231 | -€25,425 | -0.6% |
| Furniture and vehicles | 24 | €16,511 | €0 | -€16,511 | -100% |
| Current assets | 29/58 | €230,758 | €33,524 | -€197,234 | -85.5% |
| Amounts receivable within one year | 40/41 | €194,294 | €5,836 | -€188,458 | -97.0% |
| Trade receivables | 40 | €180,000 | €5,836 | -€174,164 | -96.8% |
| Other amounts receivable | 41 | €14,294 | €0 | -€14,294 | -100% |
| Cash at bank and in hand | 54/58 | €36,464 | €27,688 | -€8,776 | -24.1% |
| Total equity and liabilities | 10/49 | €4,329,925 | €4,090,756 | -€239,169 | -5.5% |
| Equity | 10/15 | €138,765 | €175,558 | +€36,793 | +26.5% |
| Contributions | 10/11 | €124,992 | €124,992 | = | 0.0% |
| Reserves | 13 | €33,218 | €50,566 | +€17,348 | +52.2% |
| Distributable reserves | 133 | €33,218 | €50,566 | +€17,348 | +52.2% |
| Profit (loss) carried forward | 14 | -€19,445 | €0 | +€19,445 | |
| Amounts payable | 17/49 | €4,191,160 | €3,915,197 | -€275,963 | -6.6% |
| Amounts payable after more than one year | 17 | €1,880,399 | €1,742,754 | -€137,645 | -7.3% |
| Financial debts | 170/4 | €1,880,399 | €1,742,754 | -€137,645 | -7.3% |
| Amounts payable within one year | 42/48 | €2,310,761 | €2,172,443 | -€138,318 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | €135,242 | €137,645 | +€2,403 | +1.8% |
| Trade debts | 44 | €20,582 | €2,314 | -€18,268 | -88.8% |
| Suppliers | 440/4 | €20,582 | €2,314 | -€18,268 | -88.8% |
| Taxes, remuneration and social security | 45 | - | €3,249 | +€3,249 | |
| Taxes | 450/3 | - | €3,249 | +€3,249 | |
| Other amounts payable | 47/48 | €2,154,938 | €2,029,235 | -€125,703 | -5.8% |
| Non-recurring operating income | 76A | €34,503 | €34,521 | +€18 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €129,150 | €132,612 | +€3,462 | +2.7% |
| Other operating charges | 640/8 | €7,927 | €13,085 | +€5,158 | +65.1% |
| Gross operating margin | 9900 | €209,483 | €223,828 | +€14,346 | +6.8% |
| Operating profit (loss) | 9901 | €72,405 | €78,131 | +€5,726 | +7.9% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €36,601 | €41,338 | +€4,737 | +12.9% |
| Recurring financial charges | 65 | €36,601 | €41,338 | +€4,737 | +12.9% |
| Profit (loss) for the period before taxes | 9903 | €35,804 | €36,793 | +€990 | +2.8% |
| Profit (loss) for the period | 9904 | €35,804 | €36,793 | +€990 | +2.8% |
| Profit (loss) for the period to be appropriated | 9905 | €35,804 | €36,793 | +€990 | +2.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.