LODES: 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.
LODES
Largest movements
- Tangible fixed assets +€50,785
up €50,785 (+275%), from €18,474 to €69,260
of which Furniture and vehicles: +€52,399
- Current investments +€23,351
up €23,351 (+57.2%), from €40,839 to €64,190
- Receivables within one year -€16,932
down €16,932 (-46.6%), from €36,323 to €19,390
of which Trade receivables: -€11,603
- Cash +€16,644
up €16,644 (+14.9%), from €111,534 to €128,179
mainly Net result for the year (+€52,334) and Debts after one year (+€22,551)
- Debts after one year +€22,551
new in 2025: €22,551
- Reserves +€19,852
up €19,852 (+11.6%), from €171,516 to €191,368
of which Distributable reserves: +€19,852
- Other debts +€14,337
up €14,337 (+54.5%), from €26,302 to €40,638
- Tax, wage and social debts +€9,128
up €9,128 (+280%), from €3,263 to €12,392
- Current portion of long-term debt +€8,384
new in 2025: €8,384
- Gross operating margin +€24,324
up €24,324 (+40.0%), from €60,796 to €85,120
- Depreciation +€7,236
up €7,236 (+184%), from €3,938 to €11,175
- Taxes +€4,045
up €4,045 (+24.7%), from €16,352 to €20,396
- Financial income +€1,138
up €1,138 (+90.0%), from €1,265 to €2,403
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 | €210,927 | €283,576 | +€72,648 | +34.4% |
| Fixed assets | 21/28 | €20,876 | €70,461 | +€49,585 | +238% |
| Intangible fixed assets | 21 | €1,802 | €602 | -€1,200 | -66.6% |
| Tangible fixed assets | 22/27 | €18,474 | €69,260 | +€50,785 | +275% |
| Land and buildings | 22 | €9,643 | €8,270 | -€1,373 | -14.2% |
| Plant, machinery and equipment | 23 | €1,403 | €1,162 | -€241 | -17.1% |
| Furniture and vehicles | 24 | €7,428 | €59,827 | +€52,399 | +705% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €190,052 | €213,115 | +€23,063 | +12.1% |
| Amounts receivable after more than one year | 29 | €1,355 | €1,355 | = | 0.0% |
| Other amounts receivable | 291 | €1,355 | €1,355 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €36,323 | €19,390 | -€16,932 | -46.6% |
| Trade receivables | 40 | €30,993 | €19,390 | -€11,603 | -37.4% |
| Other amounts receivable | 41 | €5,330 | €0 | -€5,330 | -100% |
| Current investments | 50/53 | €40,839 | €64,190 | +€23,351 | +57.2% |
| Cash at bank and in hand | 54/58 | €111,534 | €128,179 | +€16,644 | +14.9% |
| Total equity and liabilities | 10/49 | €210,927 | €283,576 | +€72,648 | +34.4% |
| Equity | 10/15 | €177,716 | €197,568 | +€19,852 | +11.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €171,516 | €191,368 | +€19,852 | +11.6% |
| Tax-exempt reserves | 132 | €395 | €395 | = | 0.0% |
| Distributable reserves | 133 | €171,120 | €190,972 | +€19,852 | +11.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €33,212 | €86,008 | +€52,796 | +159% |
| Amounts payable after more than one year | 17 | - | €22,551 | +€22,551 | |
| Financial debts | 170/4 | - | €22,551 | +€22,551 | |
| Amounts payable within one year | 42/48 | €33,212 | €63,457 | +€30,245 | +91.1% |
| Current portion of amounts payable after more than one year | 42 | - | €8,384 | +€8,384 | |
| Trade debts | 44 | €3,647 | €2,043 | -€1,604 | -44.0% |
| Suppliers | 440/4 | €3,647 | €2,043 | -€1,604 | -44.0% |
| Taxes, remuneration and social security | 45 | €3,263 | €12,392 | +€9,128 | +280% |
| Taxes | 450/3 | €3,263 | €12,392 | +€9,128 | +280% |
| Other amounts payable | 47/48 | €26,302 | €40,638 | +€14,337 | +54.5% |
| Remuneration, social security and pensions | 62 | €331 | €937 | +€606 | +183% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,938 | €11,175 | +€7,236 | +184% |
| Other operating charges | 640/8 | €521 | €844 | +€323 | +62.0% |
| Gross operating margin | 9900 | €60,796 | €85,120 | +€24,324 | +40.0% |
| Operating profit (loss) | 9901 | €56,005 | €72,164 | +€16,159 | +28.9% |
| Financial income | 75/76B | €1,265 | €2,403 | +€1,138 | +90.0% |
| Recurring financial income | 75 | €1,265 | €2,403 | +€1,138 | +90.0% |
| Financial charges | 65/66B | €1,669 | €1,837 | +€168 | +10.1% |
| Recurring financial charges | 65 | €1,669 | €1,837 | +€168 | +10.1% |
| Profit (loss) for the period before taxes | 9903 | €55,601 | €72,730 | +€17,129 | +30.8% |
| Income taxes | 67/77 | €16,352 | €20,396 | +€4,045 | +24.7% |
| Profit (loss) for the period | 9904 | €39,250 | €52,334 | +€13,084 | +33.3% |
| Profit (loss) for the period to be appropriated | 9905 | €39,250 | €52,334 | +€13,084 | +33.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.