LUDO VANHERENTALS: 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 VANHERENTALS
Largest movements
- Current investments +€12,845
up €12,845 (+16.5%), from €77,681 to €90,527
- Deferred charges and accrued income +€3,465
new in 2025: €3,465
- Receivables within one year -€2,287
down €2,287 (-38.5%), from €5,944 to €3,657
of which Other amounts receivable: -€3,778
- Cash +€1,381
up €1,381 (+26.7%), from €5,176 to €6,557
mainly Net result for the year (+€7,802) and Other debts (+€3,355)
- Reserves +€7,802
up €7,802 (+11.0%), from €71,212 to €79,014
- Other debts +€3,355
up €3,355 (+3,796%), from €88 to €3,444
- Tax, wage and social debts +€2,760
up €2,760 (+82.5%), from €3,347 to €6,106
- Trade debts +€1,285
up €1,285 (+41.6%), from €3,092 to €4,377
- Gross operating margin -€8,104
down €8,104 (-38.4%), from €21,107 to €13,003
- Taxes -€1,863
down €1,863 (-25.9%), from €7,192 to €5,330
- Other operating charges -€371
down €371 (-91.4%), from €406 to €35
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 | €89,410 | €104,611 | +€15,202 | +17.0% |
| Fixed assets | 21/28 | €609 | €406 | -€203 | -33.3% |
| Tangible fixed assets | 22/27 | €609 | €406 | -€203 | -33.3% |
| Furniture and vehicles | 24 | €609 | €406 | -€203 | -33.3% |
| Other tangible fixed assets | 26 | €0 | €0 | = | 0.0% |
| Current assets | 29/58 | €88,801 | €104,205 | +€15,404 | +17.3% |
| Amounts receivable within one year | 40/41 | €5,944 | €3,657 | -€2,287 | -38.5% |
| Trade receivables | 40 | €2,166 | €3,657 | +€1,491 | +68.8% |
| Other amounts receivable | 41 | €3,778 | - | -€3,778 | |
| Current investments | 50/53 | €77,681 | €90,527 | +€12,845 | +16.5% |
| Cash at bank and in hand | 54/58 | €5,176 | €6,557 | +€1,381 | +26.7% |
| Deferred charges and accrued income | 490/1 | - | €3,465 | +€3,465 | |
| Total equity and liabilities | 10/49 | €89,410 | €104,611 | +€15,202 | +17.0% |
| Equity | 10/15 | €82,883 | €90,684 | +€7,802 | +9.4% |
| Reserves | 13 | €71,212 | €79,014 | +€7,802 | +11.0% |
| Distributable reserves | 133 | €71,212 | €79,014 | +€7,802 | +11.0% |
| Profit (loss) carried forward | 14 | €11,671 | €11,671 | = | 0.0% |
| Amounts payable | 17/49 | €6,527 | €13,927 | +€7,400 | +113% |
| Amounts payable within one year | 42/48 | €6,527 | €13,927 | +€7,400 | +113% |
| Trade debts | 44 | €3,092 | €4,377 | +€1,285 | +41.6% |
| Suppliers | 440/4 | €3,092 | €4,377 | +€1,285 | +41.6% |
| Taxes, remuneration and social security | 45 | €3,347 | €6,106 | +€2,760 | +82.5% |
| Taxes | 450/3 | €3,347 | €6,106 | +€2,760 | +82.5% |
| Other amounts payable | 47/48 | €88 | €3,444 | +€3,355 | +3,796% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €203 | €203 | = | 0.0% |
| Other operating charges | 640/8 | €406 | €35 | -€371 | -91.4% |
| Gross operating margin | 9900 | €21,107 | €13,003 | -€8,104 | -38.4% |
| Operating profit (loss) | 9901 | €20,498 | €12,766 | -€7,733 | -37.7% |
| Financial income | 75/76B | €434 | €493 | +€59 | +13.6% |
| Recurring financial income | 75 | €434 | €493 | +€59 | +13.6% |
| Financial charges | 65/66B | €136 | €128 | -€8 | -6.0% |
| Recurring financial charges | 65 | €136 | €128 | -€8 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €20,797 | €13,131 | -€7,666 | -36.9% |
| Income taxes | 67/77 | €7,192 | €5,330 | -€1,863 | -25.9% |
| Profit (loss) for the period | 9904 | €13,605 | €7,802 | -€5,803 | -42.7% |
| Profit (loss) for the period to be appropriated | 9905 | €13,605 | €7,802 | -€5,803 | -42.7% |
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 28 October 2026 via checked.be.