Ludwig Construction: what changed
Ludwig Construction
Largest movements
- Receivables within one year +€5,126
up €5,126 (+77.8%), from €6,586 to €11,713
of which Other amounts receivable: +€5,055
- Cash +€1,028
up €1,028 (+4,457%), from €23 to €1,051
mainly Net result for the year (+€4,285) and Trade debts (+€1,869)
- Profit (loss) carried forward +€4,285
up €4,285 (+164%), from €2,609 to €6,895
- Trade debts +€1,869
new in 2025: €1,869
- Gross operating margin +€12,752
up €12,752, from -€8,272 to €4,480
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 | €6,609 | €12,764 | +€6,155 | +93.1% |
| Current assets | 29/58 | €6,609 | €12,764 | +€6,155 | +93.1% |
| Amounts receivable within one year | 40/41 | €6,586 | €11,713 | +€5,126 | +77.8% |
| Trade receivables | 40 | €2,843 | €2,915 | +€72 | +2.5% |
| Other amounts receivable | 41 | €3,743 | €8,798 | +€5,055 | +135% |
| Cash at bank and in hand | 54/58 | €23 | €1,051 | +€1,028 | +4,457% |
| Total equity and liabilities | 10/49 | €6,609 | €12,764 | +€6,155 | +93.1% |
| Equity | 10/15 | €6,609 | €10,895 | +€4,285 | +64.8% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,609 | €6,895 | +€4,285 | +164% |
| Amounts payable | 17/49 | - | €1,869 | +€1,869 | |
| Amounts payable within one year | 42/48 | - | €1,869 | +€1,869 | |
| Trade debts | 44 | - | €1,869 | +€1,869 | |
| Suppliers | 440/4 | - | €1,869 | +€1,869 | |
| Other operating charges | 640/8 | €193 | €120 | -€73 | -37.7% |
| Gross operating margin | 9900 | -€8,272 | €4,480 | +€12,752 | |
| Operating profit (loss) | 9901 | -€8,465 | €4,360 | +€12,825 | |
| Financial charges | 65/66B | €100 | €75 | -€25 | -25.0% |
| Recurring financial charges | 65 | €100 | €75 | -€25 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | -€8,565 | €4,285 | +€12,850 | |
| Profit (loss) for the period | 9904 | -€8,565 | €4,285 | +€12,850 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,565 | €4,285 | +€12,850 |
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.