Van Dessel Ludwig: 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.
Van Dessel Ludwig
Largest movements
- Cash +€33,461
up €33,461 (+39.0%), from €85,774 to €119,235
mainly Depreciation (+€29,037) and Receivables within one year (+€14,913)
- Tangible fixed assets -€24,277
down €24,277 (-37.1%), from €65,363 to €41,086
of which Furniture and vehicles: -€18,857
- Receivables within one year -€14,913
down €14,913 (-37.0%), from €40,290 to €25,377
of which Trade receivables: -€14,870
- Trade debts -€9,992
down €9,992 (-50.4%), from €19,807 to €9,815
- Reserves +€8,500
up €8,500 (+7.6%), from €111,109 to €119,608
- Current portion of long-term debt -€4,484
down €4,484 (-100%), from €4,484 to €0
- Tax, wage and social debts +€3,701
up €3,701 (+38.2%), from €9,689 to €13,390
of which Taxes: +€3,521
- Gross operating margin -€13,926
down €13,926 (-23.9%), from €58,326 to €44,400
- Taxes -€1,149
down €1,149 (-24.1%), from €4,763 to €3,614
- Depreciation +€594
up €594 (+2.1%), from €28,443 to €29,037
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 | €195,231 | €191,209 | -€4,022 | -2.1% |
| Fixed assets | 21/28 | €65,363 | €41,086 | -€24,277 | -37.1% |
| Tangible fixed assets | 22/27 | €65,363 | €41,086 | -€24,277 | -37.1% |
| Plant, machinery and equipment | 23 | €32,902 | €27,482 | -€5,421 | -16.5% |
| Furniture and vehicles | 24 | €32,461 | €13,605 | -€18,857 | -58.1% |
| Current assets | 29/58 | €129,868 | €150,123 | +€20,255 | +15.6% |
| Amounts receivable within one year | 40/41 | €40,290 | €25,377 | -€14,913 | -37.0% |
| Trade receivables | 40 | €40,194 | €25,324 | -€14,870 | -37.0% |
| Other amounts receivable | 41 | €96 | €53 | -€43 | -44.8% |
| Cash at bank and in hand | 54/58 | €85,774 | €119,235 | +€33,461 | +39.0% |
| Deferred charges and accrued income | 490/1 | €3,804 | €5,511 | +€1,707 | +44.9% |
| Total equity and liabilities | 10/49 | €195,231 | €191,209 | -€4,022 | -2.1% |
| Equity | 10/15 | €116,109 | €124,608 | +€8,500 | +7.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €111,109 | €119,608 | +€8,500 | +7.6% |
| Distributable reserves | 133 | €111,109 | €119,608 | +€8,500 | +7.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €79,122 | €66,601 | -€12,521 | -15.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €79,122 | €66,601 | -€12,521 | -15.8% |
| Current portion of amounts payable after more than one year | 42 | €4,484 | €0 | -€4,484 | -100% |
| Trade debts | 44 | €19,807 | €9,815 | -€9,992 | -50.4% |
| Suppliers | 440/4 | €19,807 | €9,815 | -€9,992 | -50.4% |
| Taxes, remuneration and social security | 45 | €9,689 | €13,390 | +€3,701 | +38.2% |
| Taxes | 450/3 | €7,409 | €10,930 | +€3,521 | +47.5% |
| Remuneration and social security | 454/9 | €2,280 | €2,460 | +€180 | +7.9% |
| Other amounts payable | 47/48 | €45,142 | €43,396 | -€1,746 | -3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,443 | €29,037 | +€594 | +2.1% |
| Other operating charges | 640/8 | €3,205 | €3,160 | -€46 | -1.4% |
| Gross operating margin | 9900 | €58,326 | €44,400 | -€13,926 | -23.9% |
| Operating profit (loss) | 9901 | €26,678 | €12,203 | -€14,474 | -54.3% |
| Financial income | 75/76B | €420 | €85 | -€335 | -79.8% |
| Recurring financial income | 75 | €420 | €85 | -€335 | -79.8% |
| Financial charges | 65/66B | €267 | €174 | -€93 | -34.7% |
| Recurring financial charges | 65 | €267 | €174 | -€93 | -34.7% |
| Profit (loss) for the period before taxes | 9903 | €26,831 | €12,114 | -€14,717 | -54.9% |
| Income taxes | 67/77 | €4,763 | €3,614 | -€1,149 | -24.1% |
| Profit (loss) for the period | 9904 | €22,068 | €8,500 | -€13,568 | -61.5% |
| Profit (loss) for the period to be appropriated | 9905 | €22,068 | €8,500 | -€13,568 | -61.5% |
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 17 October 2026 via checked.be.