LUDICK: 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.
LUDICK
Largest movements
- Receivables within one year +€111,584
up €111,584 (+4,504%), from €2,477 to €114,061
of which Other amounts receivable: +€91,885
- Cash -€23,718
down €23,718 (-21.0%), from €113,080 to €89,362
mainly Receivables within one year (-€111,584) and Contributions, distributions and other (-€70,000)
- Tangible fixed assets -€15,643
down €15,643 (-31.3%), from €49,966 to €34,323
of which Leasing and similar rights: -€14,519
- Other debts +€59,199
up €59,199 (+19,680%), from €301 to €59,500
- Tax, wage and social debts +€15,865
up €15,865 (+68.9%), from €23,031 to €38,897
of which Taxes: +€25,110
- Debts after one year -€9,943
down €9,943 (-39.9%), from €24,944 to €15,000
- Profit (loss) carried forward +€6,450
up €6,450 (+8.1%), from €80,015 to €86,465
- Gross operating margin +€59,573
up €59,573 (+104%), from €57,282 to €116,855
- Taxes +€13,321
up €13,321 (+152%), from €8,789 to €22,110
- Depreciation -€1,490
down €1,490 (-8.7%), from €17,132 to €15,643
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 | €170,827 | €244,359 | +€73,532 | +43.0% |
| Fixed assets | 21/28 | €49,966 | €34,323 | -€15,643 | -31.3% |
| Tangible fixed assets | 22/27 | €49,966 | €34,323 | -€15,643 | -31.3% |
| Furniture and vehicles | 24 | €2,779 | €1,655 | -€1,124 | -40.4% |
| Leasing and similar rights | 25 | €47,187 | €32,668 | -€14,519 | -30.8% |
| Current assets | 29/58 | €120,861 | €210,036 | +€89,174 | +73.8% |
| Amounts receivable within one year | 40/41 | €2,477 | €114,061 | +€111,584 | +4,504% |
| Trade receivables | 40 | - | €19,699 | +€19,699 | |
| Other amounts receivable | 41 | €2,477 | €94,362 | +€91,885 | +3,709% |
| Cash at bank and in hand | 54/58 | €113,080 | €89,362 | -€23,718 | -21.0% |
| Deferred charges and accrued income | 490/1 | €5,303 | €6,612 | +€1,308 | +24.7% |
| Total equity and liabilities | 10/49 | €170,827 | €244,359 | +€73,532 | +43.0% |
| Equity | 10/15 | €110,015 | €116,465 | +€6,450 | +5.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €25,000 | €25,000 | = | 0.0% |
| Distributable reserves | 133 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €80,015 | €86,465 | +€6,450 | +8.1% |
| Amounts payable | 17/49 | €60,812 | €127,893 | +€67,082 | +110% |
| Amounts payable after more than one year | 17 | €24,944 | €15,000 | -€9,943 | -39.9% |
| Financial debts | 170/4 | €24,944 | €15,000 | -€9,943 | -39.9% |
| Amounts payable within one year | 42/48 | €35,868 | €112,893 | +€77,025 | +215% |
| Current portion of amounts payable after more than one year | 42 | €9,334 | €9,943 | +€609 | +6.5% |
| Trade debts | 44 | €3,202 | €4,553 | +€1,351 | +42.2% |
| Suppliers | 440/4 | €3,202 | €4,553 | +€1,351 | +42.2% |
| Taxes, remuneration and social security | 45 | €23,031 | €38,897 | +€15,865 | +68.9% |
| Taxes | 450/3 | €13,787 | €38,897 | +€25,110 | +182% |
| Remuneration and social security | 454/9 | €9,245 | - | -€9,245 | |
| Other amounts payable | 47/48 | €301 | €59,500 | +€59,199 | +19,680% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,132 | €15,643 | -€1,490 | -8.7% |
| Other operating charges | 640/8 | €629 | €570 | -€59 | -9.4% |
| Gross operating margin | 9900 | €57,282 | €116,855 | +€59,573 | +104% |
| Operating profit (loss) | 9901 | €39,520 | €100,642 | +€61,122 | +155% |
| Financial income | 75/76B | €7 | €71 | +€64 | +905% |
| Recurring financial income | 75 | €7 | €71 | +€64 | +905% |
| Financial charges | 65/66B | €2,765 | €2,153 | -€612 | -22.1% |
| Recurring financial charges | 65 | €2,765 | €2,153 | -€612 | -22.1% |
| Profit (loss) for the period before taxes | 9903 | €36,762 | €98,560 | +€61,798 | +168% |
| Income taxes | 67/77 | €8,789 | €22,110 | +€13,321 | +152% |
| Profit (loss) for the period | 9904 | €27,973 | €76,450 | +€48,477 | +173% |
| Profit (loss) for the period to be appropriated | 9905 | €27,973 | €76,450 | +€48,477 | +173% |
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 18 October 2026 via checked.be.