LUDO VITRES: what changed
LUDO VITRES
Largest movements
- Tangible fixed assets -€68,228
down €68,228 (-92.6%), from €73,648 to €5,420
of which Land and buildings: -€65,857
- Cash +€18,864
up €18,864 (+347%), from €5,442 to €24,306
mainly Investment in fixed assets (net) (+€64,788) and Net result for the year (+€19,446)
- Receivables within one year -€15,017
down €15,017 (-15.2%), from €98,977 to €83,960
of which Trade receivables: -€18,949
- Deferred charges and accrued income +€6,692
up €6,692 (+127%), from €5,258 to €11,949
- Debts after one year -€46,824
no longer reported in 2025 (was €46,824)
- Trade debts -€15,376
down €15,376 (-80.0%), from €19,211 to €3,835
- Other debts +€10,200
new in 2025: €10,200
- Profit (loss) carried forward +€7,446
up €7,446 (+11.2%), from €66,591 to €74,037
- Tax, wage and social debts -€6,786
down €6,786 (-26.2%), from €25,880 to €19,095
- Staff costs -€35,882
down €35,882 (-95.0%), from €37,765 to €1,883
- Gross operating margin -€28,833
down €28,833 (-30.6%), from €94,249 to €65,417
- Financial charges +€8,727
up €8,727 (+202%), from €4,320 to €13,047
of which Non-recurring financial charges: +€9,272
- Taxes -€5,058
down €5,058 (-46.6%), from €10,843 to €5,785
- Depreciation -€1,970
down €1,970 (-36.4%), from €5,410 to €3,440
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 | €183,325 | €125,636 | -€57,689 | -31.5% |
| Fixed assets | 21/28 | €73,648 | €5,420 | -€68,228 | -92.6% |
| Tangible fixed assets | 22/27 | €73,648 | €5,420 | -€68,228 | -92.6% |
| Land and buildings | 22 | €68,250 | €2,393 | -€65,857 | -96.5% |
| Plant, machinery and equipment | 23 | €1,603 | €917 | -€686 | -42.8% |
| Furniture and vehicles | 24 | €3,795 | €2,109 | -€1,686 | -44.4% |
| Current assets | 29/58 | €109,676 | €120,216 | +€10,540 | +9.6% |
| Amounts receivable within one year | 40/41 | €98,977 | €83,960 | -€15,017 | -15.2% |
| Trade receivables | 40 | €98,173 | €79,223 | -€18,949 | -19.3% |
| Other amounts receivable | 41 | €804 | €4,737 | +€3,933 | +489% |
| Cash at bank and in hand | 54/58 | €5,442 | €24,306 | +€18,864 | +347% |
| Deferred charges and accrued income | 490/1 | €5,258 | €11,949 | +€6,692 | +127% |
| Total equity and liabilities | 10/49 | €183,325 | €125,636 | -€57,689 | -31.5% |
| Equity | 10/15 | €85,060 | €92,506 | +€7,446 | +8.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €12,269 | €12,269 | = | 0.0% |
| Distributable reserves | 133 | €12,269 | €12,269 | = | 0.0% |
| Profit (loss) carried forward | 14 | €66,591 | €74,037 | +€7,446 | +11.2% |
| Amounts payable | 17/49 | €98,264 | €33,130 | -€65,135 | -66.3% |
| Amounts payable after more than one year | 17 | €46,824 | - | -€46,824 | |
| Financial debts | 170/4 | €46,824 | - | -€46,824 | |
| Amounts payable within one year | 42/48 | €51,440 | €33,130 | -€18,311 | -35.6% |
| Current portion of amounts payable after more than one year | 42 | €6,349 | - | -€6,349 | |
| Trade debts | 44 | €19,211 | €3,835 | -€15,376 | -80.0% |
| Suppliers | 440/4 | €19,211 | €3,835 | -€15,376 | -80.0% |
| Taxes, remuneration and social security | 45 | €25,880 | €19,095 | -€6,786 | -26.2% |
| Taxes | 450/3 | €25,880 | €19,095 | -€6,786 | -26.2% |
| Other amounts payable | 47/48 | - | €10,200 | +€10,200 | |
| Non-recurring operating income | 76A | - | €9,173 | +€9,173 | |
| Remuneration, social security and pensions | 62 | €37,765 | €1,883 | -€35,882 | -95.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,410 | €3,440 | -€1,970 | -36.4% |
| Other operating charges | 640/8 | €4,689 | €2,821 | -€1,867 | -39.8% |
| Non-recurring operating charges | 66A | - | €19,033 | +€19,033 | |
| Gross operating margin | 9900 | €94,249 | €65,417 | -€28,833 | -30.6% |
| Operating profit (loss) | 9901 | €46,386 | €38,240 | -€8,146 | -17.6% |
| Financial income | 75/76B | €298 | €38 | -€260 | -87.3% |
| Recurring financial income | 75 | €298 | €38 | -€260 | -87.3% |
| Financial charges | 65/66B | €4,320 | €13,047 | +€8,727 | +202% |
| Recurring financial charges | 65 | €4,320 | €3,775 | -€545 | -12.6% |
| Non-recurring financial charges | 66B | - | €9,272 | +€9,272 | |
| Profit (loss) for the period before taxes | 9903 | €42,364 | €25,231 | -€17,134 | -40.4% |
| Income taxes | 67/77 | €10,843 | €5,785 | -€5,058 | -46.6% |
| Profit (loss) for the period | 9904 | €31,521 | €19,446 | -€12,075 | -38.3% |
| Profit (loss) for the period to be appropriated | 9905 | €31,521 | €19,446 | -€12,075 | -38.3% |
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 3 November 2026 via checked.be.