LuDev: 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.
LuDev
Largest movements
- Cash +€43,990
up €43,990 (+17.0%), from €258,067 to €302,057
mainly Net result for the year (+€30,580) and Other debts (+€12,255)
- Receivables within one year -€9,199
down €9,199 (-45.6%), from €20,188 to €10,989
of which Trade receivables: -€11,318
- Reserves +€21,080
up €21,080 (+7.7%), from €274,670 to €295,750
- Other debts +€12,255
up €12,255 (+273.7%), from €4,477 to €16,732
- Taxes -€3,272
down €3,272 (-23.5%), from €13,930 to €10,658
- Gross operating margin -€594
down €594 (-1.3%), from €46,514 to €45,921
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 | €295,121 | €328,028 | +€32,906 | +11.2% |
| Fixed assets | 21/28 | €14,183 | €12,349 | -€1,834 | -12.9% |
| Tangible fixed assets | 22/27 | €8,856 | €7,022 | -€1,834 | -20.7% |
| Plant, machinery and equipment | 23 | €3,533 | €3,154 | -€379 | -10.7% |
| Furniture and vehicles | 24 | €1,282 | €401 | -€881 | -68.7% |
| Other tangible fixed assets | 26 | €4,041 | €3,466 | -€575 | -14.2% |
| Financial fixed assets | 28 | €5,327 | €5,327 | = | 0.0% |
| Current assets | 29/58 | €280,938 | €315,679 | +€34,741 | +12.4% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €20,188 | €10,989 | -€9,199 | -45.6% |
| Trade receivables | 40 | €20,164 | €8,847 | -€11,318 | -56.1% |
| Other amounts receivable | 41 | €24 | €2,142 | +€2,118 | +8907.9% |
| Cash at bank and in hand | 54/58 | €258,067 | €302,057 | +€43,990 | +17.0% |
| Deferred charges and accrued income | 490/1 | €2,683 | €2,633 | -€50 | -1.9% |
| Total equity and liabilities | 10/49 | €295,121 | €328,028 | +€32,906 | +11.2% |
| Equity | 10/15 | €280,870 | €301,950 | +€21,080 | +7.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €274,670 | €295,750 | +€21,080 | +7.7% |
| Distributable reserves | 133 | €274,670 | €295,750 | +€21,080 | +7.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €14,252 | €26,078 | +€11,826 | +83.0% |
| Amounts payable within one year | 42/48 | €14,252 | €26,078 | +€11,826 | +83.0% |
| Financial debts | 43 | €274 | €0 | -€274 | -100.0% |
| Credit institutions | 430/8 | €274 | €0 | -€274 | -100.0% |
| Trade debts | 44 | €2,923 | €2,554 | -€369 | -12.6% |
| Suppliers | 440/4 | €2,923 | €2,554 | -€369 | -12.6% |
| Taxes, remuneration and social security | 45 | €6,578 | €6,792 | +€214 | +3.3% |
| Taxes | 450/3 | €6,578 | €6,792 | +€214 | +3.3% |
| Other amounts payable | 47/48 | €4,477 | €16,732 | +€12,255 | +273.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,196 | €1,834 | -€361 | -16.5% |
| Other operating charges | 640/8 | €595 | €610 | +€14 | +2.4% |
| Gross operating margin | 9900 | €46,514 | €45,921 | -€594 | -1.3% |
| Operating profit (loss) | 9901 | €43,724 | €43,477 | -€247 | -0.6% |
| Financial income | 75/76B | €1,563 | €1,114 | -€449 | -28.7% |
| Recurring financial income | 75 | €1,563 | €1,114 | -€449 | -28.7% |
| Financial charges | 65/66B | €3,013 | €3,353 | +€339 | +11.3% |
| Recurring financial charges | 65 | €3,013 | €3,353 | +€339 | +11.3% |
| Profit (loss) for the period before taxes | 9903 | €42,273 | €41,238 | -€1,035 | -2.4% |
| Income taxes | 67/77 | €13,930 | €10,658 | -€3,272 | -23.5% |
| Profit (loss) for the period | 9904 | €28,343 | €30,580 | +€2,237 | +7.9% |
| Profit (loss) for the period to be appropriated | 9905 | €28,343 | €30,580 | +€2,237 | +7.9% |
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 12 October 2026 via checked.be.