LUDICIA: 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.
LUDICIA
Largest movements
- Current investments +€49,883
up €49,883 (+27.0%), from €185,000 to €234,883
- Cash +€27,015
up €27,015 (+630%), from €4,287 to €31,302
mainly Net result for the year (+€97,941) and Other debts (+€18,177)
- Deferred charges and accrued income -€6,461
down €6,461 (-63.8%), from €10,127 to €3,666
- Receivables within one year -€3,998
down €3,998 (-9.0%), from €44,341 to €40,343
of which Trade receivables: -€3,191
- Reserves +€48,000
up €48,000 (+18.6%), from €258,000 to €306,000
- Other debts +€18,177
up €18,177 (+51.9%), from €35,000 to €53,177
- Gross operating margin +€35,819
up €35,819 (+38.2%), from €93,737 to €129,557
- Taxes +€10,324
up €10,324 (+43.3%), from €23,837 to €34,161
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 | €329,627 | €395,775 | +€66,148 | +20.1% |
| Fixed assets | 21/28 | €15,116 | €12,349 | -€2,768 | -18.3% |
| Tangible fixed assets | 22/27 | €15,116 | €12,349 | -€2,768 | -18.3% |
| Furniture and vehicles | 24 | €6,021 | €4,784 | -€1,236 | -20.5% |
| Other tangible fixed assets | 26 | €9,096 | €7,564 | -€1,532 | -16.8% |
| Current assets | 29/58 | €314,511 | €383,426 | +€68,916 | +21.9% |
| Amounts receivable after more than one year | 29 | €70,756 | €73,232 | +€2,476 | +3.5% |
| Other amounts receivable | 291 | €70,756 | €73,232 | +€2,476 | +3.5% |
| Amounts receivable within one year | 40/41 | €44,341 | €40,343 | -€3,998 | -9.0% |
| Trade receivables | 40 | €39,083 | €35,892 | -€3,191 | -8.2% |
| Other amounts receivable | 41 | €5,258 | €4,451 | -€807 | -15.3% |
| Current investments | 50/53 | €185,000 | €234,883 | +€49,883 | +27.0% |
| Cash at bank and in hand | 54/58 | €4,287 | €31,302 | +€27,015 | +630% |
| Deferred charges and accrued income | 490/1 | €10,127 | €3,666 | -€6,461 | -63.8% |
| Total equity and liabilities | 10/49 | €329,627 | €395,775 | +€66,148 | +20.1% |
| Equity | 10/15 | €286,582 | €336,523 | +€49,941 | +17.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €258,000 | €306,000 | +€48,000 | +18.6% |
| Distributable reserves | 133 | €258,000 | €306,000 | +€48,000 | +18.6% |
| Profit (loss) carried forward | 14 | €8,582 | €10,523 | +€1,941 | +22.6% |
| Amounts payable | 17/49 | €43,045 | €59,252 | +€16,208 | +37.7% |
| Amounts payable within one year | 42/48 | €43,045 | €57,792 | +€14,747 | +34.3% |
| Trade debts | 44 | €4,482 | €1,274 | -€3,208 | -71.6% |
| Suppliers | 440/4 | €4,482 | €1,274 | -€3,208 | -71.6% |
| Taxes, remuneration and social security | 45 | €3,563 | €3,341 | -€222 | -6.2% |
| Taxes | 450/3 | €3,563 | €3,341 | -€222 | -6.2% |
| Other amounts payable | 47/48 | €35,000 | €53,177 | +€18,177 | +51.9% |
| Accrued charges and deferred income | 492/3 | - | €1,461 | +€1,461 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,044 | €5,421 | -€623 | -10.3% |
| Other operating charges | 640/8 | €806 | €1,100 | +€295 | +36.6% |
| Gross operating margin | 9900 | €93,737 | €129,557 | +€35,819 | +38.2% |
| Operating profit (loss) | 9901 | €86,888 | €123,036 | +€36,148 | +41.6% |
| Financial income | 75/76B | €8,718 | €9,351 | +€632 | +7.3% |
| Recurring financial income | 75 | €8,718 | €9,351 | +€632 | +7.3% |
| Financial charges | 65/66B | €446 | €285 | -€161 | -36.1% |
| Recurring financial charges | 65 | €446 | €285 | -€161 | -36.1% |
| Profit (loss) for the period before taxes | 9903 | €95,160 | €132,101 | +€36,941 | +38.8% |
| Income taxes | 67/77 | €23,837 | €34,161 | +€10,324 | +43.3% |
| Profit (loss) for the period | 9904 | €71,323 | €97,941 | +€26,618 | +37.3% |
| Profit (loss) for the period to be appropriated | 9905 | €71,323 | €97,941 | +€26,618 | +37.3% |
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 28 October 2026 via checked.be.