LUDUS: what changed
Two fiscal 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.
LUDUS
Largest movements
- Receivables within one year -€42,783
down €42,783 (-39.0%), from €109,619 to €66,836
of which Other amounts receivable: -€35,012
- Tangible fixed assets -€28,051
down €28,051 (-6.8%), from €411,660 to €383,608
of which Land and buildings: -€23,000
- Trade debts -€61,014
down €61,014 (-85.6%), from €71,266 to €10,252
- Profit (loss) carried forward -€8,170
down €8,170 (-33.1%), from -€24,659 to -€32,829
- Gross operating margin +€25,779
up €25,779 (+643.2%), from €4,008 to €29,787
- Staff costs -€14,798
down €14,798, from €14,714 to -€84
- Depreciation -€1,351
down €1,351 (-4.1%), from €32,984 to €31,633
- Financial charges +€587
up €587 (+614.2%), from €96 to €683
- Other operating charges +€501
up €501 (+10.4%), from €4,795 to €5,295
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 | €522,682 | €452,752 | -€69,930 | -13.4% |
| Fixed assets | 21/28 | €411,660 | €383,608 | -€28,051 | -6.8% |
| Tangible fixed assets | 22/27 | €411,660 | €383,608 | -€28,051 | -6.8% |
| Land and buildings | 22 | €391,001 | €368,001 | -€23,000 | -5.9% |
| Plant, machinery and equipment | 23 | €547 | €412 | -€136 | -24.8% |
| Furniture and vehicles | 24 | €17,353 | €12,822 | -€4,531 | -26.1% |
| Other tangible fixed assets | 26 | €2,758 | €2,374 | -€384 | -13.9% |
| Current assets | 29/58 | €111,022 | €69,143 | -€41,879 | -37.7% |
| Amounts receivable within one year | 40/41 | €109,619 | €66,836 | -€42,783 | -39.0% |
| Trade receivables | 40 | €69,972 | €62,201 | -€7,770 | -11.1% |
| Other amounts receivable | 41 | €39,647 | €4,635 | -€35,012 | -88.3% |
| Cash at bank and in hand | 54/58 | €716 | €1,574 | +€859 | +120.0% |
| Deferred charges and accrued income | 490/1 | €688 | €733 | +€45 | +6.5% |
| Total equity and liabilities | 10/49 | €522,682 | €452,752 | -€69,930 | -13.4% |
| Equity | 10/15 | -€6,630 | -€14,800 | -€8,170 | -123.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €11,829 | €11,829 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,041 | €1,041 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,041 | €1,041 | = | 0.0% |
| Distributable reserves | 133 | €10,788 | €10,788 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,659 | -€32,829 | -€8,170 | -33.1% |
| Amounts payable | 17/49 | €529,312 | €467,551 | -€61,761 | -11.7% |
| Amounts payable within one year | 42/48 | €529,312 | €467,551 | -€61,761 | -11.7% |
| Trade debts | 44 | €71,266 | €10,252 | -€61,014 | -85.6% |
| Suppliers | 440/4 | €71,266 | €10,252 | -€61,014 | -85.6% |
| Taxes, remuneration and social security | 45 | €881 | €546 | -€335 | -38.0% |
| Taxes | 450/3 | €839 | €546 | -€294 | -35.0% |
| Remuneration and social security | 454/9 | €41 | - | -€41 | |
| Other amounts payable | 47/48 | €457,165 | €456,753 | -€412 | -0.1% |
| Remuneration, social security and pensions | 62 | €14,714 | -€84 | -€14,798 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,984 | €31,633 | -€1,351 | -4.1% |
| Other operating charges | 640/8 | €4,795 | €5,295 | +€501 | +10.4% |
| Gross operating margin | 9900 | €4,008 | €29,787 | +€25,779 | +643.2% |
| Operating profit (loss) | 9901 | -€48,485 | -€7,057 | +€41,428 | +85.4% |
| Financial income | 75/76B | €99 | €0 | -€99 | -99.9% |
| Recurring financial income | 75 | €99 | €0 | -€99 | -99.9% |
| Financial charges | 65/66B | €96 | €683 | +€587 | +614.2% |
| Recurring financial charges | 65 | €96 | €683 | +€587 | +614.2% |
| Profit (loss) for the period before taxes | 9903 | -€48,481 | -€7,740 | +€40,741 | +84.0% |
| Income taxes | 67/77 | - | €430 | +€430 | |
| Profit (loss) for the period | 9904 | -€48,481 | -€8,170 | +€40,311 | +83.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€48,481 | -€8,170 | +€40,311 | +83.1% |
Source: filed annual accounts (NBB), fiscal 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 October 2026 via checked.be.