LDM-ORL: 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.
LDM-ORL
Largest movements
- Cash +€69,238
up €69,238 (+112%), from €61,730 to €130,969
mainly Net result for the year (+€107,563) and Depreciation (+€12,207)
- Tangible fixed assets -€10,793
down €10,793 (-21.9%), from €49,392 to €38,600
- Deferred charges and accrued income +€5,738
up €5,738 (+24.5%), from €23,446 to €29,184
- Receivables within one year +€2,868
new in 2025: €2,868
of which Other amounts receivable: +€1,757
- Reserves +€107,563
up €107,563 (+249%), from €43,208 to €150,771
- Other debts -€20,000
no longer reported in 2025 (was €20,000)
- Debts after one year -€11,670
down €11,670 (-29.4%), from €39,649 to €27,980
- Tax, wage and social debts -€9,233
down €9,233 (-55.2%), from €16,720 to €7,486
- Gross operating margin +€33,001
up €33,001 (+27.7%), from €119,168 to €152,169
- Taxes +€4,436
up €4,436 (+17.0%), from €26,051 to €30,486
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 | €134,568 | €201,620 | +€67,052 | +49.8% |
| Fixed assets | 21/28 | €49,392 | €38,600 | -€10,793 | -21.9% |
| Tangible fixed assets | 22/27 | €49,392 | €38,600 | -€10,793 | -21.9% |
| Furniture and vehicles | 24 | €49,392 | €38,600 | -€10,793 | -21.9% |
| Current assets | 29/58 | €85,176 | €163,021 | +€77,845 | +91.4% |
| Amounts receivable within one year | 40/41 | - | €2,868 | +€2,868 | |
| Trade receivables | 40 | - | €1,111 | +€1,111 | |
| Other amounts receivable | 41 | - | €1,757 | +€1,757 | |
| Cash at bank and in hand | 54/58 | €61,730 | €130,969 | +€69,238 | +112% |
| Deferred charges and accrued income | 490/1 | €23,446 | €29,184 | +€5,738 | +24.5% |
| Total equity and liabilities | 10/49 | €134,568 | €201,620 | +€67,052 | +49.8% |
| Equity | 10/15 | €46,708 | €154,271 | +€107,563 | +230% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €43,208 | €150,771 | +€107,563 | +249% |
| Distributable reserves | 133 | €43,208 | €150,771 | +€107,563 | +249% |
| Amounts payable | 17/49 | €87,860 | €47,349 | -€40,511 | -46.1% |
| Amounts payable after more than one year | 17 | €39,649 | €27,980 | -€11,670 | -29.4% |
| Financial debts | 170/4 | €39,649 | €27,980 | -€11,670 | -29.4% |
| Amounts payable within one year | 42/48 | €48,211 | €19,370 | -€28,841 | -59.8% |
| Current portion of amounts payable after more than one year | 42 | €11,223 | €11,670 | +€446 | +4.0% |
| Financial debts | 43 | €268 | - | -€268 | |
| Credit institutions | 430/8 | €268 | - | -€268 | |
| Trade debts | 44 | - | €214 | +€214 | |
| Suppliers | 440/4 | - | €214 | +€214 | |
| Taxes, remuneration and social security | 45 | €16,720 | €7,486 | -€9,233 | -55.2% |
| Taxes | 450/3 | €16,720 | €7,486 | -€9,233 | -55.2% |
| Other amounts payable | 47/48 | €20,000 | - | -€20,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,613 | €12,207 | -€407 | -3.2% |
| Gross operating margin | 9900 | €119,168 | €152,169 | +€33,001 | +27.7% |
| Operating profit (loss) | 9901 | €106,555 | €139,962 | +€33,407 | +31.4% |
| Financial income | 75/76B | €211 | €48 | -€164 | -77.4% |
| Recurring financial income | 75 | €211 | €48 | -€164 | -77.4% |
| Financial charges | 65/66B | €1,944 | €1,961 | +€17 | +0.9% |
| Recurring financial charges | 65 | €1,944 | €1,961 | +€17 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | €104,822 | €138,049 | +€33,227 | +31.7% |
| Income taxes | 67/77 | €26,051 | €30,486 | +€4,436 | +17.0% |
| Profit (loss) for the period | 9904 | €78,771 | €107,563 | +€28,792 | +36.6% |
| Profit (loss) for the period to be appropriated | 9905 | €78,771 | €107,563 | +€28,792 | +36.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.