Ludo Lysen: what changed
Ludo Lysen
Largest movements
- Cash +€37,586
up €37,586 (+15.3%), from €246,086 to €283,672
mainly Net result for the year (+€27,698) and Other debts (+€7,453)
- Receivables within one year -€4,480
down €4,480 (-32.8%), from €13,646 to €9,166
of which Other amounts receivable: -€4,372
- Reserves +€27,698
up €27,698 (+30.0%), from €92,244 to €119,942
- Other debts +€7,453
up €7,453 (+4.5%), from €165,257 to €172,710
- Gross operating margin -€5,097
down €5,097 (-8.3%), from €61,718 to €56,621
- Taxes -€2,298
down €2,298 (-13.8%), from €16,681 to €14,383
- Financial income -€1,833
no longer reported in 2025 (was €1,833)
- Financial charges +€1,739
up €1,739 (+27.5%), from €6,328 to €8,066
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €285,200 | €317,907 | +€32,707 | +11.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €23,530 | €23,530 | = | 0.0% |
| Tangible fixed assets | 22/27 | €23,530 | €23,530 | = | 0.0% |
| Land and buildings | 22 | €23,530 | €23,530 | = | 0.0% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €261,670 | €294,377 | +€32,707 | +12.5% |
| Amounts receivable within one year | 40/41 | €13,646 | €9,166 | -€4,480 | -32.8% |
| Trade receivables | 40 | €6,624 | €6,516 | -€108 | -1.6% |
| Other amounts receivable | 41 | €7,022 | €2,650 | -€4,372 | -62.3% |
| Cash at bank and in hand | 54/58 | €246,086 | €283,672 | +€37,586 | +15.3% |
| Deferred charges and accrued income | 490/1 | €1,939 | €1,539 | -€399 | -20.6% |
| Total equity and liabilities | 10/49 | €285,200 | €317,907 | +€32,707 | +11.5% |
| Equity | 10/15 | €111,069 | €138,767 | +€27,698 | +24.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €92,244 | €119,942 | +€27,698 | +30.0% |
| Distributable reserves | 133 | €92,244 | €119,942 | +€27,698 | +30.0% |
| Profit (loss) carried forward | 14 | €225 | €225 | = | 0.0% |
| Amounts payable | 17/49 | €174,131 | €179,140 | +€5,009 | +2.9% |
| Amounts payable within one year | 42/48 | €173,502 | €178,486 | +€4,985 | +2.9% |
| Trade debts | 44 | - | €474 | +€474 | |
| Suppliers | 440/4 | - | €474 | +€474 | |
| Taxes, remuneration and social security | 45 | €8,245 | €5,303 | -€2,942 | -35.7% |
| Taxes | 450/3 | €8,245 | €5,303 | -€2,942 | -35.7% |
| Other amounts payable | 47/48 | €165,257 | €172,710 | +€7,453 | +4.5% |
| Accrued charges and deferred income | 492/3 | €629 | €653 | +€24 | +3.8% |
| Other operating charges | 640/8 | €6,336 | €6,474 | +€138 | +2.2% |
| Gross operating margin | 9900 | €61,718 | €56,621 | -€5,097 | -8.3% |
| Operating profit (loss) | 9901 | €55,382 | €50,147 | -€5,235 | -9.5% |
| Financial income | 75/76B | €1,833 | - | -€1,833 | |
| Recurring financial income | 75 | €1,833 | - | -€1,833 | |
| Financial charges | 65/66B | €6,328 | €8,066 | +€1,739 | +27.5% |
| Recurring financial charges | 65 | €6,328 | €8,066 | +€1,739 | +27.5% |
| Profit (loss) for the period before taxes | 9903 | €50,887 | €42,081 | -€8,806 | -17.3% |
| Income taxes | 67/77 | €16,681 | €14,383 | -€2,298 | -13.8% |
| Profit (loss) for the period | 9904 | €34,206 | €27,698 | -€6,508 | -19.0% |
| Profit (loss) for the period to be appropriated | 9905 | €34,206 | €27,698 | -€6,508 | -19.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.