LO ADORO: what changed
LO ADORO
Largest movements
- Receivables within one year +€105,982
up €105,982 (+301%), from €35,152 to €141,134
of which Trade receivables: +€105,009
- Cash -€18,536
down €18,536 (-79.6%), from €23,290 to €4,753
mainly Receivables within one year (-€105,982) and Short-term financial debts (-€55,000)
- Stocks and contracts +€7,163
up €7,163 (+5.9%), from €120,715 to €127,878
- Tangible fixed assets -€3,607
down €3,607 (-21.7%), from €16,601 to €12,994
of which Other tangible fixed assets: -€4,600
- Other debts +€96,026
up €96,026 (+69.8%), from €137,637 to €233,663
- Trade debts +€74,174
up €74,174 (+197%), from €37,705 to €111,879
- Short-term financial debts -€55,000
down €55,000 (-100%), from €55,000 to €0
- Tax, wage and social debts -€20,743
down €20,743 (-77.3%), from €26,834 to €6,091
of which Taxes: -€14,256
- Debts after one year -€6,237
down €6,237 (-42.9%), from €14,552 to €8,316
- Staff costs -€10,592
down €10,592 (-22.4%), from €47,279 to €36,687
- Other operating charges -€4,651
down €4,651 (-81.9%), from €5,680 to €1,029
- Gross operating margin +€3,869
up €3,869 (+8.7%), from €44,700 to €48,569
- Financial charges -€1,979
down €1,979 (-28.5%), from €6,952 to €4,974
- Financial income -€665
down €665 (-73.4%), from €905 to €240
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €209,248 | €299,836 | +€90,589 | +43.3% |
| Fixed assets | 21/28 | €21,851 | €18,244 | -€3,607 | -16.5% |
| Tangible fixed assets | 22/27 | €16,601 | €12,994 | -€3,607 | -21.7% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €915 | €1,909 | +€994 | +109% |
| Other tangible fixed assets | 26 | €15,686 | €11,085 | -€4,600 | -29.3% |
| Financial fixed assets | 28 | €5,250 | €5,250 | = | 0.0% |
| Current assets | 29/58 | €187,397 | €281,592 | +€94,195 | +50.3% |
| Stocks and contracts in progress | 3 | €120,715 | €127,878 | +€7,163 | +5.9% |
| Stocks | 30/36 | €120,715 | €127,878 | +€7,163 | +5.9% |
| Amounts receivable within one year | 40/41 | €35,152 | €141,134 | +€105,982 | +301% |
| Trade receivables | 40 | €35,058 | €140,067 | +€105,009 | +300% |
| Other amounts receivable | 41 | €94 | €1,067 | +€973 | +1,034% |
| Cash at bank and in hand | 54/58 | €23,290 | €4,753 | -€18,536 | -79.6% |
| Deferred charges and accrued income | 490/1 | €8,240 | €7,827 | -€413 | -5.0% |
| Total equity and liabilities | 10/49 | €209,248 | €299,836 | +€90,589 | +43.3% |
| Equity | 10/15 | -€66,554 | -€66,546 | +€8 | 0.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€76,554 | -€76,546 | +€8 | 0.0% |
| Amounts payable | 17/49 | €275,801 | €366,382 | +€90,581 | +32.8% |
| Amounts payable after more than one year | 17 | €14,552 | €8,316 | -€6,237 | -42.9% |
| Financial debts | 170/4 | €14,552 | €8,316 | -€6,237 | -42.9% |
| Amounts payable within one year | 42/48 | €261,249 | €358,067 | +€96,818 | +37.1% |
| Current portion of amounts payable after more than one year | 42 | €4,072 | €6,237 | +€2,164 | +53.1% |
| Financial debts | 43 | €55,000 | €0 | -€55,000 | -100% |
| Credit institutions | 430/8 | €55,000 | €0 | -€55,000 | -100% |
| Trade debts | 44 | €37,705 | €111,879 | +€74,174 | +197% |
| Suppliers | 440/4 | €37,705 | €111,879 | +€74,174 | +197% |
| Advances received on contracts in progress | 46 | - | €197 | +€197 | |
| Taxes, remuneration and social security | 45 | €26,834 | €6,091 | -€20,743 | -77.3% |
| Taxes | 450/3 | €17,629 | €3,374 | -€14,256 | -80.9% |
| Remuneration and social security | 454/9 | €9,205 | €2,717 | -€6,487 | -70.5% |
| Other amounts payable | 47/48 | €137,637 | €233,663 | +€96,026 | +69.8% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €47,279 | €36,687 | -€10,592 | -22.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,262 | €5,608 | -€654 | -10.4% |
| Other operating charges | 640/8 | €5,680 | €1,029 | -€4,651 | -81.9% |
| Gross operating margin | 9900 | €44,700 | €48,569 | +€3,869 | +8.7% |
| Operating profit (loss) | 9901 | -€14,521 | €5,245 | +€19,766 | |
| Financial income | 75/76B | €905 | €240 | -€665 | -73.4% |
| Recurring financial income | 75 | €905 | €240 | -€665 | -73.4% |
| Financial charges | 65/66B | €6,952 | €4,974 | -€1,979 | -28.5% |
| Recurring financial charges | 65 | €6,952 | €4,974 | -€1,979 | -28.5% |
| Profit (loss) for the period before taxes | 9903 | -€20,568 | €512 | +€21,080 | |
| Income taxes | 67/77 | €216 | €504 | +€289 | +134% |
| Profit (loss) for the period | 9904 | -€20,784 | €8 | +€20,792 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,784 | €8 | +€20,792 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.