LUDO 85: 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 85
Largest movements
- Stocks and contracts +€32,106
up €32,106 (+29.6%), from €108,487 to €140,593
- Cash -€3,524
down €3,524 (-7.7%), from €45,627 to €42,103
mainly Stocks and contracts (-€32,106) and Tax, wage and social debts (-€5,273)
- Financial fixed assets +€3,337
up €3,337 (+138%), from €2,418 to €5,755
- Trade debts +€33,076
up €33,076 (+32.6%), from €101,478 to €134,554
- Tax, wage and social debts -€5,273
down €5,273 (-18.8%), from €28,026 to €22,752
of which Remuneration and social security: -€2,927
- Staff costs -€18,219
down €18,219 (-25.5%), from €71,497 to €53,278
- Gross operating margin +€13,729
up €13,729 (+31.2%), from €43,974 to €57,702
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 | €164,451 | €194,399 | +€29,948 | +18.2% |
| Fixed assets | 21/28 | €4,860 | €6,926 | +€2,066 | +42.5% |
| Tangible fixed assets | 22/27 | €2,442 | €1,171 | -€1,271 | -52.0% |
| Plant, machinery and equipment | 23 | €1,710 | €1,002 | -€708 | -41.4% |
| Furniture and vehicles | 24 | €733 | €170 | -€563 | -76.9% |
| Financial fixed assets | 28 | €2,418 | €5,755 | +€3,337 | +138% |
| Current assets | 29/58 | €159,591 | €187,473 | +€27,882 | +17.5% |
| Stocks and contracts in progress | 3 | €108,487 | €140,593 | +€32,106 | +29.6% |
| Stocks | 30/36 | €108,487 | €140,593 | +€32,106 | +29.6% |
| Amounts receivable within one year | 40/41 | €5,478 | €4,562 | -€916 | -16.7% |
| Trade receivables | 40 | €5,478 | €4,521 | -€957 | -17.5% |
| Other amounts receivable | 41 | - | €41 | +€41 | |
| Cash at bank and in hand | 54/58 | €45,627 | €42,103 | -€3,524 | -7.7% |
| Deferred charges and accrued income | 490/1 | - | €216 | +€216 | |
| Total equity and liabilities | 10/49 | €164,451 | €194,399 | +€29,948 | +18.2% |
| Equity | 10/15 | -€17,193 | -€15,883 | +€1,310 | +7.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€35,793 | -€34,483 | +€1,310 | +3.7% |
| Amounts payable | 17/49 | €181,644 | €210,283 | +€28,639 | +15.8% |
| Amounts payable within one year | 42/48 | €181,644 | €210,283 | +€28,639 | +15.8% |
| Trade debts | 44 | €101,478 | €134,554 | +€33,076 | +32.6% |
| Suppliers | 440/4 | €101,478 | €134,554 | +€33,076 | +32.6% |
| Taxes, remuneration and social security | 45 | €28,026 | €22,752 | -€5,273 | -18.8% |
| Taxes | 450/3 | €18,963 | €16,617 | -€2,346 | -12.4% |
| Remuneration and social security | 454/9 | €9,063 | €6,135 | -€2,927 | -32.3% |
| Other amounts payable | 47/48 | €52,140 | €52,976 | +€836 | +1.6% |
| Non-recurring operating income | 76A | €650 | €1,953 | +€1,303 | +200% |
| Remuneration, social security and pensions | 62 | €71,497 | €53,278 | -€18,219 | -25.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,271 | €1,271 | = | 0.0% |
| Other operating charges | 640/8 | €841 | €1,289 | +€448 | +53.3% |
| Non-recurring operating charges | 66A | €958 | €14 | -€944 | -98.6% |
| Gross operating margin | 9900 | €43,974 | €57,702 | +€13,729 | +31.2% |
| Operating profit (loss) | 9901 | -€30,593 | €1,851 | +€32,444 | |
| Financial income | 75/76B | €43 | €143 | +€99 | +228% |
| Recurring financial income | 75 | €43 | €143 | +€99 | +228% |
| Financial charges | 65/66B | €805 | €684 | -€121 | -15.1% |
| Recurring financial charges | 65 | €805 | €684 | -€121 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | -€31,355 | €1,310 | +€32,664 | |
| Income taxes | 67/77 | €13 | - | -€13 | |
| Profit (loss) for the period | 9904 | -€31,368 | €1,310 | +€32,677 | |
| Profit (loss) for the period to be appropriated | 9905 | -€31,368 | €1,310 | +€32,677 |
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 29 October 2026 via checked.be.