LUDIS: 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.
LUDIS
Largest movements
- Receivables within one year +€12,342
new in 2025: €12,342
- Cash +€2,981
up €2,981 (+10.9%), from €27,355 to €30,337
mainly Net result for the year (+€53,282) and Trade debts (+€10,914)
- Profit (loss) carried forward +€53,282
up €53,282 (+109.6%), from €48,635 to €101,917
- Debts after one year -€29,824
down €29,824 (-19.9%), from €149,818 to €119,993
- Other debts -€20,346
no longer reported in 2025 (was €20,346)
- Trade debts +€10,914
new in 2025: €10,914
- Financial income +€24,197
new in 2025: €24,197
- Other operating charges -€2,458
down €2,458 (-75.7%), from €3,249 to €791
- Taxes +€1,049
up €1,049 (+11.7%), from €8,979 to €10,027
- Financial charges -€1,004
down €1,004 (-11.9%), from €8,443 to €7,440
- Gross operating margin +€555
up €555 (+1.2%), from €47,428 to €47,983
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.
Cash bridge derived
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 | €268,844 | €283,528 | +€14,684 | +5.5% |
| Formation expenses | 20 | - | €474 | +€474 | |
| Fixed assets | 21/28 | €241,489 | €240,376 | -€1,113 | -0.5% |
| Intangible fixed assets | 21 | €712 | - | -€712 | |
| Tangible fixed assets | 22/27 | €777 | €376 | -€401 | -51.6% |
| Furniture and vehicles | 24 | €777 | €376 | -€401 | -51.6% |
| Financial fixed assets | 28 | €240,000 | €240,000 | = | 0.0% |
| Current assets | 29/58 | €27,355 | €42,679 | +€15,323 | +56.0% |
| Amounts receivable within one year | 40/41 | - | €12,342 | +€12,342 | |
| Other amounts receivable | 41 | - | €12,342 | +€12,342 | |
| Cash at bank and in hand | 54/58 | €27,355 | €30,337 | +€2,981 | +10.9% |
| Total equity and liabilities | 10/49 | €268,844 | €283,528 | +€14,684 | +5.5% |
| Equity | 10/15 | €53,635 | €106,917 | +€53,282 | +99.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €48,635 | €101,917 | +€53,282 | +109.6% |
| Amounts payable | 17/49 | €215,209 | €176,611 | -€38,598 | -17.9% |
| Amounts payable after more than one year | 17 | €149,818 | €119,993 | -€29,824 | -19.9% |
| Financial debts | 170/4 | €149,818 | €119,993 | -€29,824 | -19.9% |
| Amounts payable within one year | 42/48 | €65,392 | €56,618 | -€8,774 | -13.4% |
| Financial debts | 43 | €31,010 | €32,257 | +€1,247 | +4.0% |
| Credit institutions | 430/8 | €31,010 | €32,257 | +€1,247 | +4.0% |
| Trade debts | 44 | - | €10,914 | +€10,914 | |
| Suppliers | 440/4 | - | €10,914 | +€10,914 | |
| Taxes, remuneration and social security | 45 | €14,036 | €13,447 | -€589 | -4.2% |
| Taxes | 450/3 | €14,036 | €13,447 | -€589 | -4.2% |
| Other amounts payable | 47/48 | €20,346 | - | -€20,346 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €639 | €639 | = | 0.0% |
| Other operating charges | 640/8 | €3,249 | €791 | -€2,458 | -75.7% |
| Gross operating margin | 9900 | €47,428 | €47,983 | +€555 | +1.2% |
| Operating profit (loss) | 9901 | €43,540 | €46,553 | +€3,013 | +6.9% |
| Financial income | 75/76B | - | €24,197 | +€24,197 | |
| Recurring financial income | 75 | - | €24,197 | +€24,197 | |
| Financial charges | 65/66B | €8,443 | €7,440 | -€1,004 | -11.9% |
| Recurring financial charges | 65 | €8,443 | €7,440 | -€1,004 | -11.9% |
| Profit (loss) for the period before taxes | 9903 | €35,096 | €63,310 | +€28,213 | +80.4% |
| Income taxes | 67/77 | €8,979 | €10,027 | +€1,049 | +11.7% |
| Profit (loss) for the period | 9904 | €26,118 | €53,282 | +€27,165 | +104.0% |
| Profit (loss) for the period to be appropriated | 9905 | €26,118 | €53,282 | +€27,165 | +104.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.