LUDICOR: 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.
LUDICOR
Largest movements
- Cash +€1,258
up €1,258 (+27.3%), from €4,614 to €5,873
mainly Net result for the year (+€4,500) and Receivables within one year (+€822)
- Tangible fixed assets +€983
new in 2025: €983
- Receivables within one year -€822
down €822 (-24.0%), from €3,432 to €2,610
of which Trade receivables: -€822
- Deferred charges and accrued income +€246
up €246 (+21.6%), from €1,138 to €1,384
- Profit (loss) carried forward +€4,500
up €4,500 (+15.9%), from -€28,386 to -€23,887
- Trade debts -€2,315
down €2,315 (-83.8%), from €2,763 to €448
- Other debts -€791
down €791 (-5.1%), from €15,482 to €14,691
- Tax, wage and social debts +€272
up €272 (+96.4%), from €282 to €553
- Gross operating margin +€2,247
up €2,247 (+61.4%), from €3,662 to €5,909
- Other operating charges -€351
down €351 (-22.2%), from €1,581 to €1,230
- Depreciation +€107
new in 2025: €107
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 | €9,185 | €10,850 | +€1,666 | +18.1% |
| Fixed assets | 21/28 | - | €983 | +€983 | |
| Tangible fixed assets | 22/27 | - | €983 | +€983 | |
| Furniture and vehicles | 24 | - | €983 | +€983 | |
| Current assets | 29/58 | €9,185 | €9,867 | +€682 | +7.4% |
| Amounts receivable within one year | 40/41 | €3,432 | €2,610 | -€822 | -24.0% |
| Trade receivables | 40 | €3,432 | €2,610 | -€822 | -24.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €4,614 | €5,873 | +€1,258 | +27.3% |
| Deferred charges and accrued income | 490/1 | €1,138 | €1,384 | +€246 | +21.6% |
| Total equity and liabilities | 10/49 | €9,185 | €10,850 | +€1,666 | +18.1% |
| Equity | 10/15 | -€9,342 | -€4,842 | +€4,500 | +48.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €495 | €495 | = | 0.0% |
| Distributable reserves | 133 | €495 | €495 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,386 | -€23,887 | +€4,500 | +15.9% |
| Amounts payable | 17/49 | €18,527 | €15,692 | -€2,834 | -15.3% |
| Amounts payable within one year | 42/48 | €18,527 | €15,692 | -€2,834 | -15.3% |
| Trade debts | 44 | €2,763 | €448 | -€2,315 | -83.8% |
| Suppliers | 440/4 | €2,763 | €448 | -€2,315 | -83.8% |
| Taxes, remuneration and social security | 45 | €282 | €553 | +€272 | +96.4% |
| Taxes | 450/3 | €282 | €553 | +€272 | +96.4% |
| Other amounts payable | 47/48 | €15,482 | €14,691 | -€791 | -5.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €107 | +€107 | |
| Other operating charges | 640/8 | €1,581 | €1,230 | -€351 | -22.2% |
| Gross operating margin | 9900 | €3,662 | €5,909 | +€2,247 | +61.4% |
| Operating profit (loss) | 9901 | €2,081 | €4,572 | +€2,491 | +120% |
| Financial income | 75/76B | €1 | €1 | +€0 | +46.0% |
| Recurring financial income | 75 | €1 | €1 | +€0 | +46.0% |
| Financial charges | 65/66B | €67 | €73 | +€6 | +8.8% |
| Recurring financial charges | 65 | €67 | €73 | +€6 | +8.8% |
| Profit (loss) for the period before taxes | 9903 | €2,014 | €4,500 | +€2,485 | +123% |
| Profit (loss) for the period | 9904 | €2,014 | €4,500 | +€2,485 | +123% |
| Profit (loss) for the period to be appropriated | 9905 | €2,014 | €4,500 | +€2,485 | +123% |
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 14 October 2026 via checked.be.