LUDIMA: 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.
LUDIMA
Largest movements
- Receivables within one year -€49,521
down €49,521 (-35.3%), from €140,280 to €90,759
of which Trade receivables: -€55,620
- Tangible fixed assets -€11,286
down €11,286 (-51.9%), from €21,747 to €10,461
of which Furniture and vehicles: -€6,127
- Deferred charges and accrued income +€6,804
up €6,804 (+172%), from €3,947 to €10,752
- Short-term financial debts -€34,541
down €34,541 (-68.3%), from €50,593 to €16,052
- Trade debts -€16,747
down €16,747 (-18.8%), from €89,034 to €72,287
- Debts after one year -€15,965
down €15,965 (-67.6%), from €23,627 to €7,662
- Other debts +€14,954
up €14,954 (+17.0%), from €88,116 to €103,070
- Profit (loss) carried forward +€7,302
up €7,302 (+5.5%), from -€132,933 to -€125,631
- Gross operating margin +€60,490
up €60,490 (+91.7%), from €65,989 to €126,479
- Staff costs +€32,937
up €32,937 (+50.8%), from €64,843 to €97,780
- Depreciation -€3,872
down €3,872 (-23.6%), from €16,437 to €12,564
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 | €167,193 | €113,976 | -€53,217 | -31.8% |
| Fixed assets | 21/28 | €21,933 | €10,647 | -€11,286 | -51.5% |
| Tangible fixed assets | 22/27 | €21,747 | €10,461 | -€11,286 | -51.9% |
| Plant, machinery and equipment | 23 | €8,139 | €2,979 | -€5,159 | -63.4% |
| Furniture and vehicles | 24 | €13,608 | €7,481 | -€6,127 | -45.0% |
| Financial fixed assets | 28 | €186 | €186 | = | 0.0% |
| Current assets | 29/58 | €145,260 | €103,329 | -€41,931 | -28.9% |
| Amounts receivable within one year | 40/41 | €140,280 | €90,759 | -€49,521 | -35.3% |
| Trade receivables | 40 | €126,280 | €70,660 | -€55,620 | -44.0% |
| Other amounts receivable | 41 | €14,000 | €20,099 | +€6,099 | +43.6% |
| Cash at bank and in hand | 54/58 | €1,032 | €1,818 | +€786 | +76.1% |
| Deferred charges and accrued income | 490/1 | €3,947 | €10,752 | +€6,804 | +172% |
| Total equity and liabilities | 10/49 | €167,193 | €113,976 | -€53,217 | -31.8% |
| Equity | 10/15 | -€108,870 | -€101,569 | +€7,302 | +6.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €5,463 | €5,463 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,172 | €3,172 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,172 | €3,172 | = | 0.0% |
| Distributable reserves | 133 | €2,291 | €2,291 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€132,933 | -€125,631 | +€7,302 | +5.5% |
| Amounts payable | 17/49 | €276,063 | €215,545 | -€60,519 | -21.9% |
| Amounts payable after more than one year | 17 | €23,627 | €7,662 | -€15,965 | -67.6% |
| Financial debts | 170/4 | €23,627 | €7,662 | -€15,965 | -67.6% |
| Amounts payable within one year | 42/48 | €252,436 | €207,882 | -€44,553 | -17.6% |
| Current portion of amounts payable after more than one year | 42 | €18,955 | €16,473 | -€2,482 | -13.1% |
| Financial debts | 43 | €50,593 | €16,052 | -€34,541 | -68.3% |
| Credit institutions | 430/8 | €50,593 | €16,052 | -€34,541 | -68.3% |
| Trade debts | 44 | €89,034 | €72,287 | -€16,747 | -18.8% |
| Suppliers | 440/4 | €89,034 | €72,287 | -€16,747 | -18.8% |
| Taxes, remuneration and social security | 45 | €5,737 | - | -€5,737 | |
| Taxes | 450/3 | €4,963 | - | -€4,963 | |
| Remuneration and social security | 454/9 | €774 | - | -€774 | |
| Other amounts payable | 47/48 | €88,116 | €103,070 | +€14,954 | +17.0% |
| Remuneration, social security and pensions | 62 | €64,843 | €97,780 | +€32,937 | +50.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,437 | €12,564 | -€3,872 | -23.6% |
| Other operating charges | 640/8 | €1,628 | €995 | -€633 | -38.9% |
| Gross operating margin | 9900 | €65,989 | €126,479 | +€60,490 | +91.7% |
| Operating profit (loss) | 9901 | -€16,918 | €15,140 | +€32,058 | |
| Financial income | 75/76B | €0 | €1 | +€0 | +275% |
| Recurring financial income | 75 | €0 | €1 | +€0 | +275% |
| Financial charges | 65/66B | €8,504 | €7,839 | -€665 | -7.8% |
| Recurring financial charges | 65 | €8,504 | €7,839 | -€665 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | -€25,422 | €7,302 | +€32,724 | |
| Income taxes | 67/77 | €785 | - | -€785 | |
| Profit (loss) for the period | 9904 | -€26,207 | €7,302 | +€33,509 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,207 | €7,302 | +€33,509 |
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.