Ledek: 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.
Ledek
Largest movements
- Tangible fixed assets +€4,694
up €4,694 (+307%), from €1,528 to €6,221
of which Plant, machinery and equipment: +€4,324
- Cash -€2,489
down €2,489 (-7.1%), from €34,992 to €32,504
mainly Investment in fixed assets (net) (-€6,353) and Net result for the year (-€937)
- Receivables within one year +€621
up €621 (+151%), from €411 to €1,033
of which Trade receivables: +€532
- Other debts +€4,338
up €4,338 (+24.0%), from €18,047 to €22,385
- Profit (loss) carried forward -€937
down €937 (-25.2%), from -€3,719 to -€4,656
- Trade debts -€460
down €460 (-15.3%), from €3,006 to €2,546
- Gross operating margin -€8,357
down €8,357 (-88.2%), from €9,480 to €1,123
- Depreciation +€1,399
up €1,399 (+537%), from €260 to €1,659
- Other operating charges -€798
down €798 (-60.2%), from €1,326 to €528
- Taxes -€234
no longer reported in 2025 (was €234)
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 | €38,106 | €41,169 | +€3,064 | +8.0% |
| Fixed assets | 21/28 | €1,848 | €6,541 | +€4,694 | +254% |
| Tangible fixed assets | 22/27 | €1,528 | €6,221 | +€4,694 | +307% |
| Plant, machinery and equipment | 23 | - | €4,324 | +€4,324 | |
| Furniture and vehicles | 24 | €1,528 | €1,898 | +€370 | +24.2% |
| Financial fixed assets | 28 | €320 | €320 | = | 0.0% |
| Current assets | 29/58 | €36,258 | €34,628 | -€1,630 | -4.5% |
| Amounts receivable within one year | 40/41 | €411 | €1,033 | +€621 | +151% |
| Trade receivables | 40 | €411 | €944 | +€532 | +129% |
| Other amounts receivable | 41 | - | €89 | +€89 | |
| Cash at bank and in hand | 54/58 | €34,992 | €32,504 | -€2,489 | -7.1% |
| Deferred charges and accrued income | 490/1 | €854 | €1,091 | +€237 | +27.8% |
| Total equity and liabilities | 10/49 | €38,106 | €41,169 | +€3,064 | +8.0% |
| Equity | 10/15 | €16,732 | €15,796 | -€937 | -5.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,719 | -€4,656 | -€937 | -25.2% |
| Amounts payable | 17/49 | €21,373 | €25,374 | +€4,001 | +18.7% |
| Amounts payable within one year | 42/48 | €21,373 | €25,374 | +€4,001 | +18.7% |
| Trade debts | 44 | €3,006 | €2,546 | -€460 | -15.3% |
| Suppliers | 440/4 | €3,006 | €2,546 | -€460 | -15.3% |
| Taxes, remuneration and social security | 45 | €321 | €443 | +€123 | +38.2% |
| Taxes | 450/3 | €321 | €443 | +€123 | +38.2% |
| Other amounts payable | 47/48 | €18,047 | €22,385 | +€4,338 | +24.0% |
| Non-recurring operating income | 76A | €8,398 | - | -€8,398 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €260 | €1,659 | +€1,399 | +537% |
| Other operating charges | 640/8 | €1,326 | €528 | -€798 | -60.2% |
| Gross operating margin | 9900 | €9,480 | €1,123 | -€8,357 | -88.2% |
| Operating profit (loss) | 9901 | €7,894 | -€1,065 | -€8,958 | |
| Financial income | 75/76B | €244 | €296 | +€52 | +21.5% |
| Recurring financial income | 75 | €244 | €296 | +€52 | +21.5% |
| Financial charges | 65/66B | €184 | €168 | -€16 | -8.5% |
| Recurring financial charges | 65 | €184 | €168 | -€16 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €7,954 | -€937 | -€8,890 | |
| Income taxes | 67/77 | €234 | - | -€234 | |
| Profit (loss) for the period | 9904 | €7,720 | -€937 | -€8,657 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,720 | -€937 | -€8,657 |
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 13 October 2026 via checked.be.