LUDIFICA: 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.
LUDIFICA
Largest movements
- Cash -€22,592
down €22,592 (-17.7%), from €127,556 to €104,964
mainly Other debts (-€54,965) and Net result for the year (-€30,349)
- Receivables within one year +€14,569
up €14,569 (+67.3%), from €21,645 to €36,214
of which Trade receivables: +€17,375
- Tangible fixed assets +€4,733
up €4,733 (+889%), from €532 to €5,265
- Stocks and contracts +€2,778
new in 2025: €2,778
- Other debts -€54,965
down €54,965 (-99.8%), from €55,084 to €120
- Tax, wage and social debts +€44,099
up €44,099 (+305%), from €14,478 to €58,576
of which Remuneration and social security: +€36,930
- Accrued charges and deferred income +€38,112
up €38,112 (+53.5%), from €71,183 to €109,295
- Reserves -€30,349
down €30,349 (-96.3%), from €31,500 to €1,150
- Trade debts +€2,787
up €2,787 (+12.0%), from €23,252 to €26,039
- Staff costs +€124,358
up €124,358 (+120%), from €103,571 to €227,929
- Gross operating margin +€84,010
up €84,010 (+62.9%), from €133,505 to €217,515
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 | €199,497 | €199,180 | -€317 | -0.2% |
| Fixed assets | 21/28 | €47,680 | €50,859 | +€3,179 | +6.7% |
| Intangible fixed assets | 21 | €46,973 | €45,419 | -€1,554 | -3.3% |
| Tangible fixed assets | 22/27 | €532 | €5,265 | +€4,733 | +889% |
| Furniture and vehicles | 24 | €532 | €5,265 | +€4,733 | +889% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €151,817 | €148,321 | -€3,496 | -2.3% |
| Stocks and contracts in progress | 3 | - | €2,778 | +€2,778 | |
| Stocks | 30/36 | - | €2,778 | +€2,778 | |
| Amounts receivable within one year | 40/41 | €21,645 | €36,214 | +€14,569 | +67.3% |
| Trade receivables | 40 | €18,430 | €35,806 | +€17,375 | +94.3% |
| Other amounts receivable | 41 | €3,214 | €408 | -€2,806 | -87.3% |
| Cash at bank and in hand | 54/58 | €127,556 | €104,964 | -€22,592 | -17.7% |
| Deferred charges and accrued income | 490/1 | €2,617 | €4,365 | +€1,749 | +66.8% |
| Total equity and liabilities | 10/49 | €199,497 | €199,180 | -€317 | -0.2% |
| Equity | 10/15 | €35,500 | €5,150 | -€30,349 | -85.5% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €31,500 | €1,150 | -€30,349 | -96.3% |
| Distributable reserves | 133 | €31,500 | €1,150 | -€30,349 | -96.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €163,997 | €194,030 | +€30,033 | +18.3% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €92,814 | €84,735 | -€8,079 | -8.7% |
| Trade debts | 44 | €23,252 | €26,039 | +€2,787 | +12.0% |
| Suppliers | 440/4 | €23,252 | €26,039 | +€2,787 | +12.0% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €14,478 | €58,576 | +€44,099 | +305% |
| Taxes | 450/3 | €9,851 | €17,020 | +€7,168 | +72.8% |
| Remuneration and social security | 454/9 | €4,626 | €41,557 | +€36,930 | +798% |
| Other amounts payable | 47/48 | €55,084 | €120 | -€54,965 | -99.8% |
| Accrued charges and deferred income | 492/3 | €71,183 | €109,295 | +€38,112 | +53.5% |
| Remuneration, social security and pensions | 62 | €103,571 | €227,929 | +€124,358 | +120% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,067 | €19,578 | +€512 | +2.7% |
| Other operating charges | 640/8 | €0 | €127 | +€127 | |
| Gross operating margin | 9900 | €133,505 | €217,515 | +€84,010 | +62.9% |
| Operating profit (loss) | 9901 | €10,867 | -€30,119 | -€40,986 | |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €399 | €233 | -€165 | -41.5% |
| Recurring financial charges | 65 | €399 | €233 | -€165 | -41.5% |
| Profit (loss) for the period before taxes | 9903 | €10,469 | -€30,349 | -€40,818 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €10,469 | -€30,349 | -€40,818 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,469 | -€30,349 | -€40,818 |
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 21 October 2026 via checked.be.