L.o.d.e.: 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.
L.o.d.e.
Largest movements
- Receivables within one year +€22,892
up €22,892 (+381%), from €6,015 to €28,906
- Deferred charges and accrued income -€2,669
no longer reported in 2025 (was €2,669)
- Cash +€1,416
up €1,416, from €0 to €1,416
mainly Trade debts (+€17,384) and Tax, wage and social debts (+€4,273)
- Tangible fixed assets +€704
up €704 (+165%), from €428 to €1,132
- Formation expenses -€336
down €336 (-41.8%), from €802 to €467
- Trade debts +€17,384
up €17,384, from €0 to €17,384
- Tax, wage and social debts +€4,273
up €4,273 (+60.2%), from €7,092 to €11,365
of which Taxes: +€4,273
- Profit (loss) carried forward +€374
up €374, from -€294 to €79
- Gross operating margin -€15,923
down €15,923 (-69.5%), from €22,911 to €6,989
- Taxes -€1,361
down €1,361 (-32.6%), from €4,174 to €2,813
- Other operating charges +€1,035
up €1,035 (+433%), from €239 to €1,274
- Financial charges +€265
up €265 (+21.2%), from €1,248 to €1,513
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 | €10,214 | €32,221 | +€22,007 | +215% |
| Formation expenses | 20 | €802 | €467 | -€336 | -41.8% |
| Fixed assets | 21/28 | €728 | €1,432 | +€704 | +96.7% |
| Tangible fixed assets | 22/27 | €428 | €1,132 | +€704 | +165% |
| Plant, machinery and equipment | 23 | €428 | €1,132 | +€704 | +165% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €8,684 | €30,322 | +€21,638 | +249% |
| Amounts receivable within one year | 40/41 | €6,015 | €28,906 | +€22,892 | +381% |
| Trade receivables | 40 | €6,015 | €28,906 | +€22,892 | +381% |
| Cash at bank and in hand | 54/58 | €0 | €1,416 | +€1,416 | |
| Deferred charges and accrued income | 490/1 | €2,669 | - | -€2,669 | |
| Total equity and liabilities | 10/49 | €10,214 | €32,221 | +€22,007 | +215% |
| Equity | 10/15 | €2,206 | €2,579 | +€374 | +16.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€294 | €79 | +€374 | |
| Amounts payable | 17/49 | €8,009 | €29,642 | +€21,633 | +270% |
| Amounts payable within one year | 42/48 | €8,009 | €29,642 | +€21,633 | +270% |
| Financial debts | 43 | €101 | - | -€101 | |
| Credit institutions | 430/8 | €101 | - | -€101 | |
| Trade debts | 44 | €0 | €17,384 | +€17,384 | |
| Suppliers | 440/4 | €0 | €17,384 | +€17,384 | |
| Taxes, remuneration and social security | 45 | €7,092 | €11,365 | +€4,273 | +60.2% |
| Taxes | 450/3 | €5,292 | €9,565 | +€4,273 | +80.7% |
| Remuneration and social security | 454/9 | €1,800 | €1,800 | = | 0.0% |
| Other amounts payable | 47/48 | €815 | €894 | +€79 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €857 | €1,032 | +€175 | +20.4% |
| Other operating charges | 640/8 | €239 | €1,274 | +€1,035 | +433% |
| Gross operating margin | 9900 | €22,911 | €6,989 | -€15,923 | -69.5% |
| Operating profit (loss) | 9901 | €21,816 | €4,682 | -€17,133 | -78.5% |
| Financial income | 75/76B | €3 | €18 | +€15 | +524% |
| Recurring financial income | 75 | €3 | €18 | +€15 | +524% |
| Financial charges | 65/66B | €1,248 | €1,513 | +€265 | +21.2% |
| Recurring financial charges | 65 | €1,248 | €1,513 | +€265 | +21.2% |
| Profit (loss) for the period before taxes | 9903 | €20,570 | €3,187 | -€17,383 | -84.5% |
| Income taxes | 67/77 | €4,174 | €2,813 | -€1,361 | -32.6% |
| Profit (loss) for the period | 9904 | €16,396 | €374 | -€16,023 | -97.7% |
| Profit (loss) for the period to be appropriated | 9905 | €16,396 | €374 | -€16,023 | -97.7% |
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 14 October 2026 via checked.be.