LODE GOS: 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.
LODE GOS
Largest movements
- Current investments +€3.5m
up €3.5m (+63.4%), from €5.5m to €8.9m
- Receivables after one year -€696,900
no longer reported in 2025 (was €696,900)
- Cash +€670,198
up €670,198 (+1430.8%), from €46,841 to €717,039
mainly Accrued charges and deferred income (+€2.6m) and Net result for the year (+€1.3m)
- Accrued charges and deferred income +€2.6m
up €2.6m (+8168.7%), from €32,169 to €2.7m
- Reserves +€1.3m
up €1.3m (+22.7%), from €5.6m to €6.8m
of which Distributable reserves: +€1.6m
- Short-term financial debts -€442,750
no longer reported in 2025 (was €442,750)
- Gross operating margin +€750,226
up €750,226 (+91.6%), from €818,650 to €1.6m
- Taxes +€240,470
up €240,470 (+73.0%), from €329,489 to €569,959
- Financial income +€234,672
up €234,672 (+150.5%), from €155,896 to €390,568
- Financial charges +€96,870
up €96,870 (+388.3%), from €24,945 to €121,815
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.
Cash bridge derived
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 | €6,256,737 | €9,700,815 | +€3.4m | +55.0% |
| Fixed assets | 21/28 | €2,569 | €4,314 | +€1,745 | +67.9% |
| Tangible fixed assets | 22/27 | €2,569 | €4,314 | +€1,745 | +67.9% |
| Furniture and vehicles | 24 | €2,569 | €4,314 | +€1,745 | +67.9% |
| Current assets | 29/58 | €6,254,168 | €9,696,501 | +€3.4m | +55.0% |
| Amounts receivable after more than one year | 29 | €696,900 | - | -€696,900 | |
| Trade receivables | 290 | €696,900 | - | -€696,900 | |
| Amounts receivable within one year | 40/41 | €14,866 | €41,972 | +€27,106 | +182.3% |
| Trade receivables | 40 | - | €16,252 | +€16,252 | |
| Other amounts receivable | 41 | €14,866 | €25,720 | +€10,854 | +73.0% |
| Current investments | 50/53 | €5,469,310 | €8,937,490 | +€3.5m | +63.4% |
| Cash at bank and in hand | 54/58 | €46,841 | €717,039 | +€670,198 | +1430.8% |
| Deferred charges and accrued income | 490/1 | €26,251 | - | -€26,251 | |
| Total equity and liabilities | 10/49 | €6,256,737 | €9,700,815 | +€3.4m | +55.0% |
| Equity | 10/15 | €5,613,378 | €6,878,214 | +€1.3m | +22.5% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €5,583,378 | €6,848,214 | +€1.3m | +22.7% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,000 | €3,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €715,700 | €421,000 | -€294,700 | -41.2% |
| Distributable reserves | 133 | €4,864,678 | €6,424,214 | +€1.6m | +32.1% |
| Amounts payable | 17/49 | €643,359 | €2,822,601 | +€2.2m | +338.7% |
| Amounts payable after more than one year | 17 | €12,200 | - | -€12,200 | |
| Financial debts | 170/4 | €12,200 | - | -€12,200 | |
| Amounts payable within one year | 42/48 | €598,990 | €162,631 | -€436,359 | -72.8% |
| Financial debts | 43 | €442,750 | - | -€442,750 | |
| Other loans | 439 | €442,750 | - | -€442,750 | |
| Trade debts | 44 | €23,603 | €1,315 | -€22,288 | -94.4% |
| Suppliers | 440/4 | €23,603 | €1,315 | -€22,288 | -94.4% |
| Taxes, remuneration and social security | 45 | €112,896 | €159,575 | +€46,679 | +41.3% |
| Taxes | 450/3 | €112,896 | €159,575 | +€46,679 | +41.3% |
| Other amounts payable | 47/48 | €19,741 | €1,741 | -€18,000 | -91.2% |
| Accrued charges and deferred income | 492/3 | €32,169 | €2,659,970 | +€2.6m | +8168.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43 | €962 | +€919 | +2137.2% |
| Other operating charges | 640/8 | €1,352 | €1,873 | +€521 | +38.5% |
| Gross operating margin | 9900 | €818,650 | €1,568,876 | +€750,226 | +91.6% |
| Operating profit (loss) | 9901 | €817,255 | €1,566,041 | +€748,786 | +91.6% |
| Financial income | 75/76B | €155,896 | €390,568 | +€234,672 | +150.5% |
| Recurring financial income | 75 | €155,896 | €390,568 | +€234,672 | +150.5% |
| Financial charges | 65/66B | €24,945 | €121,815 | +€96,870 | +388.3% |
| Recurring financial charges | 65 | €24,945 | €121,815 | +€96,870 | +388.3% |
| Profit (loss) for the period before taxes | 9903 | €948,206 | €1,834,794 | +€886,588 | +93.5% |
| Income taxes | 67/77 | €329,489 | €569,959 | +€240,470 | +73.0% |
| Profit (loss) for the period | 9904 | €618,717 | €1,264,835 | +€646,118 | +104.4% |
| Transfer from tax-exempt reserves | 789 | €473,970 | €294,700 | -€179,270 | -37.8% |
| Profit (loss) for the period to be appropriated | 9905 | €1,092,687 | €1,559,535 | +€466,848 | +42.7% |
Source: filed annual accounts (NBB), financial years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.