LUDO SWOLFS: 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 SWOLFS
Largest movements
- Cash -€8,774
down €8,774 (-1.7%), from €504,458 to €495,684
mainly Net result for the year (-€14,493) and Tax, wage and social debts (-€2,365)
- Receivables within one year -€6,094
down €6,094 (-58.4%), from €10,427 to €4,334
of which Other amounts receivable: -€6,094
- Profit (loss) carried forward -€14,493
down €14,493 (-29.5%), from €49,146 to €34,653
- Financial income -€74,701
down €74,701 (-95.3%), from €78,399 to €3,698
- Gross operating margin +€34,767
up €34,767 (+66.0%), from -€52,665 to -€17,898
- Taxes -€1,300
down €1,300 (-228%), from -€570 to -€1,869
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 | €539,181 | €522,700 | -€16,481 | -3.1% |
| Fixed assets | 21/28 | €3,903 | €2,291 | -€1,612 | -41.3% |
| Tangible fixed assets | 22/27 | €3,903 | €2,291 | -€1,612 | -41.3% |
| Furniture and vehicles | 24 | €3,903 | €2,291 | -€1,612 | -41.3% |
| Current assets | 29/58 | €535,277 | €520,409 | -€14,868 | -2.8% |
| Amounts receivable within one year | 40/41 | €10,427 | €4,334 | -€6,094 | -58.4% |
| Trade receivables | 40 | €2,924 | €2,924 | = | 0.0% |
| Other amounts receivable | 41 | €7,503 | €1,410 | -€6,094 | -81.2% |
| Current investments | 50/53 | €20,391 | €20,391 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €504,458 | €495,684 | -€8,774 | -1.7% |
| Total equity and liabilities | 10/49 | €539,181 | €522,700 | -€16,481 | -3.1% |
| Equity | 10/15 | €530,248 | €515,754 | -€14,493 | -2.7% |
| Contributions | 10/11 | €378,592 | €378,592 | = | 0.0% |
| Reserves | 13 | €102,509 | €102,509 | = | 0.0% |
| Distributable reserves | 133 | €102,509 | €102,509 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,146 | €34,653 | -€14,493 | -29.5% |
| Amounts payable | 17/49 | €8,933 | €6,946 | -€1,987 | -22.2% |
| Amounts payable within one year | 42/48 | €8,933 | €6,946 | -€1,987 | -22.2% |
| Trade debts | 44 | €2,336 | €2,890 | +€553 | +23.7% |
| Suppliers | 440/4 | €2,336 | €2,890 | +€553 | +23.7% |
| Taxes, remuneration and social security | 45 | €2,365 | - | -€2,365 | |
| Taxes | 450/3 | €2,365 | - | -€2,365 | |
| Other amounts payable | 47/48 | €4,232 | €4,056 | -€176 | -4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,805 | €1,612 | -€193 | -10.7% |
| Other operating charges | 640/8 | €818 | €520 | -€298 | -36.5% |
| Gross operating margin | 9900 | -€52,665 | -€17,898 | +€34,767 | +66.0% |
| Operating profit (loss) | 9901 | -€55,288 | -€20,030 | +€35,258 | +63.8% |
| Financial income | 75/76B | €78,399 | €3,698 | -€74,701 | -95.3% |
| Recurring financial income | 75 | €78,399 | €3,698 | -€74,701 | -95.3% |
| Financial charges | 65/66B | €30 | €30 | = | 0.0% |
| Recurring financial charges | 65 | €30 | €30 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €23,081 | -€16,362 | -€39,443 | |
| Income taxes | 67/77 | -€570 | -€1,869 | -€1,300 | -228% |
| Profit (loss) for the period | 9904 | €23,651 | -€14,493 | -€38,144 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,651 | -€14,493 | -€38,144 |
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 1 November 2026 via checked.be.