Ludinfi: 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.
Ludinfi
Largest movements
- Tangible fixed assets -€36,637
down €36,637 (-64.8%), from €56,539 to €19,902
- Receivables within one year +€1,422
up €1,422 (+191%), from €745 to €2,167
of which Other amounts receivable: +€1,422
- Cash +€1,071
up €1,071 (+653%), from €164 to €1,234
mainly Investment in fixed assets (net) (+€28,922) and Depreciation (+€7,715)
- Profit (loss) carried forward -€24,488
down €24,488, from €17,969 to -€6,519
- Other debts -€5,466
no longer reported in 2025 (was €5,466)
- Debts after one year -€3,907
down €3,907 (-21.4%), from €18,244 to €14,336
- Gross operating margin +€11,377
up €11,377 (+154%), from €7,410 to €18,787
- Depreciation -€3,844
down €3,844 (-33.3%), from €11,559 to €7,715
- Other operating charges +€631
up €631 (+349%), from €181 to €812
- Taxes -€253
down €253 (-51.2%), from €495 to €242
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 | €57,448 | €23,304 | -€34,144 | -59.4% |
| Fixed assets | 21/28 | €56,539 | €19,902 | -€36,637 | -64.8% |
| Tangible fixed assets | 22/27 | €56,539 | €19,902 | -€36,637 | -64.8% |
| Furniture and vehicles | 24 | €56,539 | €19,902 | -€36,637 | -64.8% |
| Current assets | 29/58 | €909 | €3,402 | +€2,493 | +274% |
| Amounts receivable within one year | 40/41 | €745 | €2,167 | +€1,422 | +191% |
| Trade receivables | 40 | €745 | €745 | = | 0.0% |
| Other amounts receivable | 41 | - | €1,422 | +€1,422 | |
| Cash at bank and in hand | 54/58 | €164 | €1,234 | +€1,071 | +653% |
| Total equity and liabilities | 10/49 | €57,448 | €23,304 | -€34,144 | -59.4% |
| Equity | 10/15 | €31,560 | €7,072 | -€24,488 | -77.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Contributions outside capital | 11 | €12,400 | €12,400 | = | 0.0% |
| Other | 1109/19 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,191 | €1,191 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,191 | €1,191 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,191 | €1,191 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,969 | -€6,519 | -€24,488 | |
| Amounts payable | 17/49 | €25,888 | €16,232 | -€9,656 | -37.3% |
| Amounts payable after more than one year | 17 | €18,244 | €14,336 | -€3,907 | -21.4% |
| Financial debts | 170/4 | €18,244 | €14,336 | -€3,907 | -21.4% |
| Amounts payable within one year | 42/48 | €7,644 | €1,896 | -€5,748 | -75.2% |
| Trade debts | 44 | €1,174 | €1,159 | -€15 | -1.3% |
| Suppliers | 440/4 | €1,174 | €1,159 | -€15 | -1.3% |
| Taxes, remuneration and social security | 45 | €1,004 | €737 | -€267 | -26.6% |
| Taxes | 450/3 | €1,004 | €737 | -€267 | -26.6% |
| Other amounts payable | 47/48 | €5,466 | - | -€5,466 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,559 | €7,715 | -€3,844 | -33.3% |
| Other operating charges | 640/8 | €181 | €812 | +€631 | +349% |
| Non-recurring operating charges | 66A | - | €33,642 | +€33,642 | |
| Gross operating margin | 9900 | €7,410 | €18,787 | +€11,377 | +154% |
| Operating profit (loss) | 9901 | -€4,330 | -€23,382 | -€19,052 | -440% |
| Financial charges | 65/66B | €720 | €865 | +€144 | +20.0% |
| Recurring financial charges | 65 | €720 | €865 | +€144 | +20.0% |
| Profit (loss) for the period before taxes | 9903 | -€5,050 | -€24,247 | -€19,197 | -380% |
| Income taxes | 67/77 | €495 | €242 | -€253 | -51.2% |
| Profit (loss) for the period | 9904 | -€5,545 | -€24,488 | -€18,943 | -342% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,545 | -€24,488 | -€18,943 | -342% |
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 15 October 2026 via checked.be.