LUDO: 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.
LUDO
Largest movements
- Receivables within one year -€42,371
down €42,371 (-84.4%), from €50,198 to €7,827
of which Trade receivables: -€42,709
- Tangible fixed assets +€19,840
up €19,840 (+349.7%), from €5,673 to €25,512
of which Furniture and vehicles: +€20,087
- Stocks and contracts -€9,957
down €9,957 (-90.7%), from €10,981 to €1,024
of which Contracts in progress: -€9,357
- Cash +€5,666
new in 2025: €5,666
mainly Receivables within one year (+€42,371) and Stocks and contracts (+€9,957)
- Deferred charges and accrued income +€1,728
up €1,728 (+42.4%), from €4,076 to €5,803
- Tax, wage and social debts -€17,618
down €17,618 (-73.4%), from €24,016 to €6,398
of which Remuneration and social security: -€9,816
- Short-term financial debts -€4,724
down €4,724 (-100.0%), from €4,724 to €0
- Profit (loss) carried forward -€1,764
down €1,764 (-17.8%), from -€9,903 to -€11,668
- Trade debts -€1,158
down €1,158 (-8.4%), from €13,779 to €12,622
- Gross operating margin +€3,164
up €3,164 (+1089.2%), from €290 to €3,455
- Depreciation +€788
up €788 (+50.9%), from €1,549 to €2,337
- Other operating charges +€219
up €219 (+26.0%), from €842 to €1,061
- Taxes +€135
up €135 (+10.0%), from €1,354 to €1,489
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 | €71,197 | €46,102 | -€25,095 | -35.2% |
| Fixed assets | 21/28 | €5,943 | €25,782 | +€19,840 | +333.8% |
| Tangible fixed assets | 22/27 | €5,673 | €25,512 | +€19,840 | +349.7% |
| Plant, machinery and equipment | 23 | €5,673 | €5,425 | -€247 | -4.4% |
| Furniture and vehicles | 24 | - | €20,087 | +€20,087 | |
| Financial fixed assets | 28 | €270 | €270 | = | 0.0% |
| Current assets | 29/58 | €65,255 | €20,320 | -€44,935 | -68.9% |
| Stocks and contracts in progress | 3 | €10,981 | €1,024 | -€9,957 | -90.7% |
| Stocks | 30/36 | €1,624 | €1,024 | -€600 | -37.0% |
| Contracts in progress | 37 | €9,357 | €0 | -€9,357 | -100.0% |
| Amounts receivable within one year | 40/41 | €50,198 | €7,827 | -€42,371 | -84.4% |
| Trade receivables | 40 | €49,289 | €6,579 | -€42,709 | -86.7% |
| Other amounts receivable | 41 | €909 | €1,247 | +€338 | +37.2% |
| Cash at bank and in hand | 54/58 | - | €5,666 | +€5,666 | |
| Deferred charges and accrued income | 490/1 | €4,076 | €5,803 | +€1,728 | +42.4% |
| Total equity and liabilities | 10/49 | €71,197 | €46,102 | -€25,095 | -35.2% |
| Equity | 10/15 | €22,973 | €21,209 | -€1,764 | -7.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €14,284 | €14,284 | = | 0.0% |
| Distributable reserves | 133 | €14,284 | €14,284 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,903 | -€11,668 | -€1,764 | -17.8% |
| Amounts payable | 17/49 | €48,224 | €24,893 | -€23,331 | -48.4% |
| Amounts payable within one year | 42/48 | €48,224 | €24,893 | -€23,331 | -48.4% |
| Financial debts | 43 | €4,724 | €0 | -€4,724 | -100.0% |
| Credit institutions | 430/8 | €4,724 | €0 | -€4,724 | -100.0% |
| Trade debts | 44 | €13,779 | €12,622 | -€1,158 | -8.4% |
| Suppliers | 440/4 | €13,779 | €12,622 | -€1,158 | -8.4% |
| Taxes, remuneration and social security | 45 | €24,016 | €6,398 | -€17,618 | -73.4% |
| Taxes | 450/3 | €9,291 | €1,489 | -€7,802 | -84.0% |
| Remuneration and social security | 454/9 | €14,725 | €4,909 | -€9,816 | -66.7% |
| Other amounts payable | 47/48 | €5,705 | €5,874 | +€169 | +3.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €62 | +€62 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,549 | €2,337 | +€788 | +50.9% |
| Other operating charges | 640/8 | €842 | €1,061 | +€219 | +26.0% |
| Gross operating margin | 9900 | €290 | €3,455 | +€3,164 | +1089.2% |
| Operating profit (loss) | 9901 | -€2,100 | €57 | +€2,157 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €331 | €332 | +€1 | +0.3% |
| Recurring financial charges | 65 | €331 | €332 | +€1 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | -€2,431 | -€275 | +€2,156 | +88.7% |
| Income taxes | 67/77 | €1,354 | €1,489 | +€135 | +10.0% |
| Profit (loss) for the period | 9904 | -€3,786 | -€1,764 | +€2,021 | +53.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,786 | -€1,764 | +€2,021 | +53.4% |
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 9 October 2026 via checked.be.