LUDOMAR: 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.
LUDOMAR
Largest movements
- Tangible fixed assets -€28,004
down €28,004 (-4.2%), from €668,014 to €640,010
of which Land and buildings: -€28,886
- Current portion of long-term debt -€16,111
down €16,111 (-82.2%), from €19,589 to €3,478
- Trade debts -€10,955
down €10,955 (-98.7%), from €11,094 to €139
- Gross operating margin -€9,261
down €9,261 (-17.3%), from €53,525 to €44,264
- Taxes -€2,978
down €2,978 (-71.2%), from €4,184 to €1,206
- Other operating charges -€938
down €938 (-9.8%), from €9,568 to €8,631
- Financial charges -€579
down €579 (-37.3%), from €1,552 to €973
- Depreciation +€567
up €567 (+1.9%), from €30,133 to €30,700
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.
Cash bridge derived
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 | €710,428 | €681,760 | -€28,668 | -4.0% |
| Fixed assets | 21/28 | €668,014 | €640,010 | -€28,004 | -4.2% |
| Tangible fixed assets | 22/27 | €668,014 | €640,010 | -€28,004 | -4.2% |
| Land and buildings | 22 | €653,860 | €624,974 | -€28,886 | -4.4% |
| Plant, machinery and equipment | 23 | €9,200 | €10,601 | +€1,401 | +15.2% |
| Furniture and vehicles | 24 | €4,954 | €4,434 | -€520 | -10.5% |
| Current assets | 29/58 | €42,414 | €41,751 | -€663 | -1.6% |
| Amounts receivable within one year | 40/41 | €9,913 | €9,013 | -€900 | -9.1% |
| Trade receivables | 40 | €9,913 | €4,740 | -€5,173 | -52.2% |
| Other amounts receivable | 41 | - | €4,273 | +€4,273 | |
| Cash at bank and in hand | 54/58 | €32,501 | €31,274 | -€1,227 | -3.8% |
| Deferred charges and accrued income | 490/1 | - | €1,464 | +€1,464 | |
| Total equity and liabilities | 10/49 | €710,428 | €681,760 | -€28,668 | -4.0% |
| Equity | 10/15 | €438,039 | €441,011 | +€2,972 | +0.7% |
| Contributions | 10/11 | €73,129 | €73,129 | = | 0.0% |
| Reserves | 13 | €364,911 | €367,883 | +€2,972 | +0.8% |
| Non-distributable reserves | 130/1 | €7,313 | €0 | -€7,313 | -100.0% |
| Reserves not available under the articles | 1311 | €7,313 | €0 | -€7,313 | -100.0% |
| Tax-exempt reserves | 132 | €14,323 | €13,682 | -€641 | -4.5% |
| Distributable reserves | 133 | €343,275 | €354,201 | +€10,926 | +3.2% |
| Provisions and deferred taxes | 16 | €4,774 | €4,561 | -€214 | -4.5% |
| Deferred taxes | 168 | €4,774 | €4,561 | -€214 | -4.5% |
| Amounts payable | 17/49 | €267,615 | €236,188 | -€31,426 | -11.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €267,615 | €236,188 | -€31,426 | -11.7% |
| Current portion of amounts payable after more than one year | 42 | €19,589 | €3,478 | -€16,111 | -82.2% |
| Trade debts | 44 | €11,094 | €139 | -€10,955 | -98.7% |
| Suppliers | 440/4 | €11,094 | €139 | -€10,955 | -98.7% |
| Taxes, remuneration and social security | 45 | €1,705 | €0 | -€1,705 | -100.0% |
| Taxes | 450/3 | €1,705 | €0 | -€1,705 | -100.0% |
| Other amounts payable | 47/48 | €235,227 | €232,571 | -€2,655 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,133 | €30,700 | +€567 | +1.9% |
| Other operating charges | 640/8 | €9,568 | €8,631 | -€938 | -9.8% |
| Gross operating margin | 9900 | €53,525 | €44,264 | -€9,261 | -17.3% |
| Operating profit (loss) | 9901 | €13,823 | €4,933 | -€8,890 | -64.3% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €1,552 | €973 | -€579 | -37.3% |
| Recurring financial charges | 65 | €1,552 | €973 | -€579 | -37.3% |
| Profit (loss) for the period before taxes | 9903 | €12,271 | €3,964 | -€8,307 | -67.7% |
| Transfer from deferred taxes | 780 | €291 | €214 | -€77 | -26.5% |
| Income taxes | 67/77 | €4,184 | €1,206 | -€2,978 | -71.2% |
| Profit (loss) for the period | 9904 | €8,378 | €2,972 | -€5,406 | -64.5% |
| Transfer from tax-exempt reserves | 789 | €564 | €641 | +€77 | +13.6% |
| Profit (loss) for the period to be appropriated | 9905 | €8,943 | €3,613 | -€5,330 | -59.6% |
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 10 October 2026 via checked.be.