LD: what changed
What changed
LD
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€779,985
2025 · €1.3m-€552,828
Equity
€6.1m
2025 · €5.3m+€742,435
Cash
€553,704
2025 · €234,422+€319,282
Balance sheet total
€10.4m
2025 · €9.1m+€1.3m
Largest movements
Assets
- Financial fixed assets +€826,840
up €826,840 (+35.2%), from €2.4m to €3.2m
- Cash +€319,282
up €319,282 (+136%), from €234,422 to €553,704
mainly Net result for the year (+€779,985) and Short-term financial debts (+€560,900)
- Current investments +€190,488
up €190,488 (+14.7%), from €1.3m to €1.5m
Equity and liabilities
- Profit (loss) carried forward +€742,435
up €742,435 (+5,232%), from €14,189 to €756,625
- Short-term financial debts +€560,900
up €560,900 (+45.2%), from €1.2m to €1.8m
of which Other loans: +€560,900
- Debts after one year -€231,168
down €231,168 (-42.3%), from €546,199 to €315,031
- Accrued charges and deferred income +€180,931
up €180,931 (+112%), from €161,517 to €342,448
- Current portion of long-term debt +€159,124
up €159,124 (+221%), from €72,045 to €231,168
Income statement
- Gross operating margin -€805,632
down €805,632 (-44.8%), from €1.8m to €990,878
- Taxes -€210,990
down €210,990 (-50.0%), from €421,957 to €210,967
- Financial income +€27,136
up €27,136 (+11.1%), from €244,736 to €271,872
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
€1.3m
Gross operating margin
-€805,632
Depreciation
+€4,914
Other operating charges
-€411
Financial income
+€27,136
Financial charges
+€10,175
Taxes
+€210,990
Result 2026
€779,985
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€924,904
Investment
-€1.1m
Financing
+€451,305
Cash 2025
€234,422
From operations (derived)
+€924,904
Net result for the year
+€779,985
Depreciation
+€64,455
Stocks and contracts
-€6,326
Receivables within one year
-€20,153
Deferred charges and accrued income
+€3,468
Trade debts
+€588
Tax, wage and social debts
-€44,734
Advances received
+€2,200
Other debts
-€35,509
Accrued charges and deferred income
+€180,931
Investment (derived)
-€1.1m
Investment in fixed assets (net)
-€866,439
Current investments
-€190,488
Financing
+€451,305
Debts after one year
-€231,168
Current portion of long-term debt
+€159,124
Short-term financial debts
+€560,900
Contributions, distributions and other
-€37,550
Cash 2026
€553,704
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,073,367 | €10,408,133 | +€1.3m | +14.7% |
| Fixed assets | 21/28 | €3,966,977 | €4,768,961 | +€801,984 | +20.2% |
| Tangible fixed assets | 22/27 | €1,616,429 | €1,591,573 | -€24,856 | -1.5% |
| Land and buildings | 22 | €1,610,208 | €1,572,852 | -€37,356 | -2.3% |
| Plant, machinery and equipment | 23 | €730 | €428 | -€302 | -41.4% |
| Furniture and vehicles | 24 | €5,491 | €18,293 | +€12,802 | +233% |
| Financial fixed assets | 28 | €2,350,548 | €3,177,388 | +€826,840 | +35.2% |
| Current assets | 29/58 | €5,106,390 | €5,639,172 | +€532,782 | +10.4% |
| Stocks and contracts in progress | 3 | €984,578 | €990,905 | +€6,326 | +0.6% |
| Stocks | 30/36 | €984,578 | €990,905 | +€6,326 | +0.6% |
| Amounts receivable within one year | 40/41 | €2,574,398 | €2,594,551 | +€20,153 | +0.8% |
| Trade receivables | 40 | €119,742 | €23,023 | -€96,719 | -80.8% |
| Other amounts receivable | 41 | €2,454,656 | €2,571,528 | +€116,872 | +4.8% |
| Current investments | 50/53 | €1,296,390 | €1,486,879 | +€190,488 | +14.7% |
| Cash at bank and in hand | 54/58 | €234,422 | €553,704 | +€319,282 | +136% |
| Deferred charges and accrued income | 490/1 | €16,602 | €13,134 | -€3,468 | -20.9% |
| Total equity and liabilities | 10/49 | €9,073,367 | €10,408,133 | +€1.3m | +14.7% |
| Equity | 10/15 | €5,328,460 | €6,070,896 | +€742,435 | +13.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €5,295,721 | €5,295,721 | = | 0.0% |
| Tax-exempt reserves | 132 | €545,721 | €505,726 | -€39,995 | -7.3% |
| Distributable reserves | 133 | €4,750,000 | €4,789,995 | +€39,995 | +0.8% |
| Profit (loss) carried forward | 14 | €14,189 | €756,625 | +€742,435 | +5,232% |
| Amounts payable | 17/49 | €3,744,906 | €4,337,237 | +€592,331 | +15.8% |
| Amounts payable after more than one year | 17 | €546,199 | €315,031 | -€231,168 | -42.3% |
| Financial debts | 170/4 | €546,199 | €315,031 | -€231,168 | -42.3% |
| Amounts payable within one year | 42/48 | €3,037,190 | €3,679,758 | +€642,568 | +21.2% |
| Current portion of amounts payable after more than one year | 42 | €72,045 | €231,168 | +€159,124 | +221% |
| Financial debts | 43 | €1,241,611 | €1,802,511 | +€560,900 | +45.2% |
| Credit institutions | 430/8 | €368,611 | €368,611 | = | 0.0% |
| Other loans | 439 | €873,000 | €1,433,900 | +€560,900 | +64.2% |
| Trade debts | 44 | €5,108 | €5,696 | +€588 | +11.5% |
| Suppliers | 440/4 | €5,108 | €5,696 | +€588 | +11.5% |
| Advances received on contracts in progress | 46 | €1,645 | €3,845 | +€2,200 | +134% |
| Taxes, remuneration and social security | 45 | €61,435 | €16,700 | -€44,734 | -72.8% |
| Taxes | 450/3 | €61,435 | €16,700 | -€44,734 | -72.8% |
| Other amounts payable | 47/48 | €1,655,347 | €1,619,837 | -€35,509 | -2.1% |
| Accrued charges and deferred income | 492/3 | €161,517 | €342,448 | +€180,931 | +112% |
| Non-recurring operating income | 76A | - | €5,824 | +€5,824 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,369 | €64,455 | -€4,914 | -7.1% |
| Other operating charges | 640/8 | €6,544 | €6,955 | +€411 | +6.3% |
| Gross operating margin | 9900 | €1,796,510 | €990,878 | -€805,632 | -44.8% |
| Operating profit (loss) | 9901 | €1,720,597 | €919,468 | -€801,129 | -46.6% |
| Financial income | 75/76B | €244,736 | €271,872 | +€27,136 | +11.1% |
| Recurring financial income | 75 | €244,736 | €271,872 | +€27,136 | +11.1% |
| Financial charges | 65/66B | €210,563 | €200,388 | -€10,175 | -4.8% |
| Recurring financial charges | 65 | €210,563 | €200,388 | -€10,175 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €1,754,770 | €990,952 | -€763,818 | -43.5% |
| Income taxes | 67/77 | €421,957 | €210,967 | -€210,990 | -50.0% |
| Profit (loss) for the period | 9904 | €1,332,813 | €779,985 | -€552,828 | -41.5% |
| Transfer from tax-exempt reserves | 789 | - | €39,995 | +€39,995 | |
| Transfer to tax-exempt reserves | 689 | €258,915 | - | -€258,915 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,073,898 | €819,980 | -€253,918 | -23.6% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.