Lode Mortier: what changed
Two fiscal 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 Mortier
Largest movements
- Tangible fixed assets +€465,250
new in 2025: €465,250
of which Land and buildings: +€450,589
- Cash -€54,544
down €54,544 (-46.5%), from €117,206 to €62,662
mainly Investment in fixed assets (net) (-€510,498) and Receivables within one year (-€30,990)
- Receivables within one year +€30,990
up €30,990 (+600.6%), from €5,160 to €36,151
of which Trade receivables: +€31,624
- Intangible fixed assets +€17,511
new in 2025: €17,511
- Debts after one year +€198,873
up €198,873 (+1136.4%), from €17,500 to €216,373
- Other debts +€189,655
up €189,655 (+1553.4%), from €12,209 to €201,864
- Reserves +€63,509
up €63,509 (+86.0%), from €73,873 to €137,383
- Depreciation +€27,736
new in 2025: €27,736
- Gross operating margin +€23,528
up €23,528 (+26.1%), from €90,284 to €113,812
- Other operating charges +€4,994
up €4,994 (+443.1%), from €1,127 to €6,121
- Taxes -€2,874
down €2,874 (-15.2%), from €18,948 to €16,073
- Financial income -€2,150
down €2,150 (-58.7%), from €3,664 to €1,514
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 | €124,416 | €584,209 | +€459,793 | +369.6% |
| Fixed assets | 21/28 | - | €482,762 | +€482,762 | |
| Intangible fixed assets | 21 | - | €17,511 | +€17,511 | |
| Tangible fixed assets | 22/27 | - | €465,250 | +€465,250 | |
| Land and buildings | 22 | - | €450,589 | +€450,589 | |
| Assets under construction and advance payments | 27 | - | €14,661 | +€14,661 | |
| Current assets | 29/58 | €124,416 | €101,448 | -€22,968 | -18.5% |
| Amounts receivable within one year | 40/41 | €5,160 | €36,151 | +€30,990 | +600.6% |
| Trade receivables | 40 | €4,526 | €36,151 | +€31,624 | +698.7% |
| Other amounts receivable | 41 | €634 | - | -€634 | |
| Cash at bank and in hand | 54/58 | €117,206 | €62,662 | -€54,544 | -46.5% |
| Deferred charges and accrued income | 490/1 | €2,050 | €2,635 | +€585 | +28.5% |
| Total equity and liabilities | 10/49 | €124,416 | €584,209 | +€459,793 | +369.6% |
| Equity | 10/15 | €76,373 | €139,883 | +€63,509 | +83.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €73,873 | €137,383 | +€63,509 | +86.0% |
| Distributable reserves | 133 | €73,873 | €137,383 | +€63,509 | +86.0% |
| Amounts payable | 17/49 | €48,043 | €444,327 | +€396,284 | +824.9% |
| Amounts payable after more than one year | 17 | €17,500 | €216,373 | +€198,873 | +1136.4% |
| Financial debts | 170/4 | €17,500 | €216,373 | +€198,873 | +1136.4% |
| Amounts payable within one year | 42/48 | €30,543 | €226,075 | +€195,532 | +640.2% |
| Trade debts | 44 | €66 | €1,806 | +€1,740 | +2649.1% |
| Suppliers | 440/4 | €66 | €1,806 | +€1,740 | +2649.1% |
| Taxes, remuneration and social security | 45 | €18,268 | €22,405 | +€4,137 | +22.6% |
| Taxes | 450/3 | €18,268 | €22,405 | +€4,137 | +22.6% |
| Other amounts payable | 47/48 | €12,209 | €201,864 | +€189,655 | +1553.4% |
| Accrued charges and deferred income | 492/3 | - | €1,879 | +€1,879 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €27,736 | +€27,736 | |
| Other operating charges | 640/8 | €1,127 | €6,121 | +€4,994 | +443.1% |
| Gross operating margin | 9900 | €90,284 | €113,812 | +€23,528 | +26.1% |
| Operating profit (loss) | 9901 | €89,157 | €79,954 | -€9,203 | -10.3% |
| Financial income | 75/76B | €3,664 | €1,514 | -€2,150 | -58.7% |
| Recurring financial income | 75 | €3,664 | €1,514 | -€2,150 | -58.7% |
| Financial charges | 65/66B | - | €1,886 | +€1,886 | |
| Recurring financial charges | 65 | - | €1,886 | +€1,886 | |
| Profit (loss) for the period before taxes | 9903 | €92,821 | €79,583 | -€13,238 | -14.3% |
| Income taxes | 67/77 | €18,948 | €16,073 | -€2,874 | -15.2% |
| Profit (loss) for the period | 9904 | €73,873 | €63,509 | -€10,364 | -14.0% |
| Profit (loss) for the period to be appropriated | 9905 | €73,873 | €63,509 | -€10,364 | -14.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.