L'ORO: 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.
What changed
L'ORO
NACE 47.770, Retail sale of watches and jewellery
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€53,863
2024 · €48,219+€5,644
Equity
€290,485
2024 · €266,621+€23,863
Cash
€81,710
2024 · €81,354+€356
Balance sheet total
€668,331
2024 · €620,029+€48,302
Largest movements
Assets
- Stocks and contracts +€62,037
up €62,037 (+12.7%), from €486,699 to €548,737
- Tangible fixed assets -€14,139
down €14,139 (-38.3%), from €36,905 to €22,766
of which Plant, machinery and equipment: -€7,985
Equity and liabilities
- Debts after one year +€33,294
up €33,294 (+75.1%), from €44,314 to €77,608
- Profit (loss) carried forward +€23,863
up €23,863 (+15.9%), from €150,044 to €173,907
- Short-term financial debts -€13,333
down €13,333 (-66.7%), from €20,000 to €6,667
Income statement
- Other operating charges +€14,467
up €14,467 (+687%), from €2,106 to €16,573
- Gross operating margin +€9,630
up €9,630 (+5.6%), from €172,310 to €181,940
- Depreciation -€8,121
down €8,121 (-34.7%), from €23,396 to €15,275
- Financial charges -€2,812
down €2,812 (-27.0%), from €10,434 to €7,621
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.
Result 2024
€48,219
Gross operating margin
+€9,630
Staff costs
-€1,375
Depreciation
+€8,121
Other operating charges
-€14,467
Financial income
+€1
Financial charges
+€2,812
Taxes
+€922
Result 2025
€53,863
raises the resultlowers the result
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.
From operations
+€16,267
Investment
-€2,336
Financing
-€13,576
Cash 2024
€81,354
From operations (derived)
+€16,267
Net result for the year
+€53,863
Depreciation
+€15,275
Stocks and contracts
-€62,037
Receivables within one year
+€877
Deferred charges and accrued income
+€274
Trade debts
+€5,160
Tax, wage and social debts
-€1,472
Other debts
+€5,777
Accrued charges and deferred income
-€1,450
Investment (derived)
-€2,336
Investment in fixed assets (net)
-€2,336
Financing
-€13,576
Debts after one year
+€33,294
Current portion of long-term debt
-€3,537
Short-term financial debts
-€13,333
Contributions, distributions and other
-€30,000
Cash 2025
€81,710
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €620,029 | €668,331 | +€48,302 | +7.8% |
| Fixed assets | 21/28 | €43,324 | €30,385 | -€12,939 | -29.9% |
| Tangible fixed assets | 22/27 | €36,905 | €22,766 | -€14,139 | -38.3% |
| Land and buildings | 22 | €13,408 | €10,183 | -€3,225 | -24.1% |
| Plant, machinery and equipment | 23 | €15,644 | €7,660 | -€7,985 | -51.0% |
| Furniture and vehicles | 24 | €7,853 | €4,923 | -€2,930 | -37.3% |
| Financial fixed assets | 28 | €6,419 | €7,619 | +€1,200 | +18.7% |
| Current assets | 29/58 | €576,704 | €637,946 | +€61,242 | +10.6% |
| Stocks and contracts in progress | 3 | €486,699 | €548,737 | +€62,037 | +12.7% |
| Stocks | 30/36 | €486,699 | €548,737 | +€62,037 | +12.7% |
| Amounts receivable within one year | 40/41 | €4,903 | €4,026 | -€877 | -17.9% |
| Trade receivables | 40 | €1,050 | €315 | -€735 | -70.0% |
| Other amounts receivable | 41 | €3,853 | €3,711 | -€142 | -3.7% |
| Cash at bank and in hand | 54/58 | €81,354 | €81,710 | +€356 | +0.4% |
| Deferred charges and accrued income | 490/1 | €3,747 | €3,474 | -€274 | -7.3% |
| Total equity and liabilities | 10/49 | €620,029 | €668,331 | +€48,302 | +7.8% |
| Equity | 10/15 | €266,621 | €290,485 | +€23,863 | +9.0% |
| Reserves | 13 | €116,578 | €116,578 | = | 0.0% |
| Non-distributable reserves | 130/1 | €74,988 | €74,988 | = | 0.0% |
| Reserves not available under the articles | 1311 | €74,988 | €74,988 | = | 0.0% |
| Tax-exempt reserves | 132 | €41,590 | €41,590 | = | 0.0% |
| Profit (loss) carried forward | 14 | €150,044 | €173,907 | +€23,863 | +15.9% |
| Provisions and deferred taxes | 16 | €19,233 | €19,233 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €19,233 | €19,233 | = | 0.0% |
| Pensions and similar obligations | 160 | €19,233 | €19,233 | = | 0.0% |
| Amounts payable | 17/49 | €334,174 | €358,613 | +€24,439 | +7.3% |
| Amounts payable after more than one year | 17 | €44,314 | €77,608 | +€33,294 | +75.1% |
| Financial debts | 170/4 | €44,314 | €77,608 | +€33,294 | +75.1% |
| Amounts payable within one year | 42/48 | €288,411 | €281,006 | -€7,405 | -2.6% |
| Current portion of amounts payable after more than one year | 42 | €60,089 | €56,553 | -€3,537 | -5.9% |
| Financial debts | 43 | €20,000 | €6,667 | -€13,333 | -66.7% |
| Credit institutions | 430/8 | €20,000 | €6,667 | -€13,333 | -66.7% |
| Trade debts | 44 | €134,037 | €139,197 | +€5,160 | +3.8% |
| Suppliers | 440/4 | €134,037 | €139,197 | +€5,160 | +3.8% |
| Taxes, remuneration and social security | 45 | €44,212 | €42,740 | -€1,472 | -3.3% |
| Taxes | 450/3 | €29,438 | €31,844 | +€2,406 | +8.2% |
| Remuneration and social security | 454/9 | €14,774 | €10,897 | -€3,877 | -26.2% |
| Other amounts payable | 47/48 | €30,073 | €35,849 | +€5,777 | +19.2% |
| Accrued charges and deferred income | 492/3 | €1,450 | - | -€1,450 | |
| Non-recurring operating income | 76A | €1,005 | €90 | -€915 | -91.1% |
| Remuneration, social security and pensions | 62 | €67,234 | €68,609 | +€1,375 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,396 | €15,275 | -€8,121 | -34.7% |
| Other operating charges | 640/8 | €2,106 | €16,573 | +€14,467 | +687% |
| Gross operating margin | 9900 | €172,310 | €181,940 | +€9,630 | +5.6% |
| Operating profit (loss) | 9901 | €79,574 | €81,483 | +€1,909 | +2.4% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €10,434 | €7,621 | -€2,812 | -27.0% |
| Recurring financial charges | 65 | €10,434 | €7,621 | -€2,812 | -27.0% |
| Profit (loss) for the period before taxes | 9903 | €69,141 | €73,863 | +€4,723 | +6.8% |
| Income taxes | 67/77 | €20,922 | €20,000 | -€922 | -4.4% |
| Profit (loss) for the period | 9904 | €48,219 | €53,863 | +€5,644 | +11.7% |
| Profit (loss) for the period to be appropriated | 9905 | €48,219 | €53,863 | +€5,644 | +11.7% |
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 20 October 2026 via checked.be.