LODO: 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.
LODO
Largest movements
- Tangible fixed assets +€133,094
up €133,094 (+186.9%), from €71,222 to €204,317
of which Plant, machinery and equipment: +€81,590
- Stocks and contracts -€80,472
down €80,472 (-100.0%), from €80,472 to €0
- Receivables within one year -€30,835
down €30,835 (-76.2%), from €40,488 to €9,654
of which Trade receivables: -€37,363
- Reserves +€95,837
up €95,837 (+31.7%), from €302,010 to €397,846
of which Distributable reserves: +€95,837
- Tax, wage and social debts -€63,225
down €63,225 (-92.7%), from €68,224 to €4,999
- Trade debts -€10,846
down €10,846 (-48.7%), from €22,281 to €11,435
- Other debts +€5,608
up €5,608 (+4.6%), from €121,570 to €127,178
- Depreciation +€12,210
up €12,210 (+80.7%), from €15,131 to €27,341
- Gross operating margin +€4,419
up €4,419 (+2.6%), from €172,855 to €177,274
- Taxes -€3,799
down €3,799 (-7.9%), from €48,072 to €44,273
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 | €532,685 | €560,058 | +€27,373 | +5.1% |
| Fixed assets | 21/28 | €71,223 | €204,318 | +€133,094 | +186.9% |
| Intangible fixed assets | 21 | €1 | €1 | = | 0.0% |
| Tangible fixed assets | 22/27 | €71,222 | €204,317 | +€133,094 | +186.9% |
| Land and buildings | 22 | €51,139 | €43,100 | -€8,039 | -15.7% |
| Plant, machinery and equipment | 23 | €20,084 | €101,674 | +€81,590 | +406.2% |
| Furniture and vehicles | 24 | - | €59,543 | +€59,543 | |
| Current assets | 29/58 | €461,461 | €355,740 | -€105,721 | -22.9% |
| Stocks and contracts in progress | 3 | €80,472 | €0 | -€80,472 | -100.0% |
| Stocks | 30/36 | €80,472 | €0 | -€80,472 | -100.0% |
| Amounts receivable within one year | 40/41 | €40,488 | €9,654 | -€30,835 | -76.2% |
| Trade receivables | 40 | €39,631 | €2,268 | -€37,363 | -94.3% |
| Other amounts receivable | 41 | €857 | €7,386 | +€6,528 | +761.4% |
| Cash at bank and in hand | 54/58 | €338,906 | €344,162 | +€5,256 | +1.6% |
| Deferred charges and accrued income | 490/1 | €1,595 | €1,924 | +€329 | +20.6% |
| Total equity and liabilities | 10/49 | €532,685 | €560,058 | +€27,373 | +5.1% |
| Equity | 10/15 | €320,610 | €416,446 | +€95,837 | +29.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €302,010 | €397,846 | +€95,837 | +31.7% |
| Non-distributable reserves | 130/1 | €7,458 | €7,458 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,458 | €7,458 | = | 0.0% |
| Distributable reserves | 133 | €294,552 | €390,388 | +€95,837 | +32.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €212,075 | €143,612 | -€68,464 | -32.3% |
| Amounts payable within one year | 42/48 | €212,075 | €143,612 | -€68,464 | -32.3% |
| Trade debts | 44 | €22,281 | €11,435 | -€10,846 | -48.7% |
| Suppliers | 440/4 | €22,281 | €11,435 | -€10,846 | -48.7% |
| Taxes, remuneration and social security | 45 | €68,224 | €4,999 | -€63,225 | -92.7% |
| Taxes | 450/3 | €68,224 | €4,999 | -€63,225 | -92.7% |
| Other amounts payable | 47/48 | €121,570 | €127,178 | +€5,608 | +4.6% |
| Remuneration, social security and pensions | 62 | €392 | €0 | -€392 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,131 | €27,341 | +€12,210 | +80.7% |
| Other operating charges | 640/8 | €1,586 | €1,911 | +€326 | +20.5% |
| Gross operating margin | 9900 | €172,855 | €177,274 | +€4,419 | +2.6% |
| Operating profit (loss) | 9901 | €155,745 | €148,022 | -€7,724 | -5.0% |
| Financial income | 75/76B | €505 | €1,017 | +€512 | +101.5% |
| Recurring financial income | 75 | €505 | €1,017 | +€512 | +101.5% |
| Financial charges | 65/66B | €9,282 | €8,929 | -€353 | -3.8% |
| Recurring financial charges | 65 | €9,282 | €8,929 | -€353 | -3.8% |
| Profit (loss) for the period before taxes | 9903 | €146,968 | €140,110 | -€6,859 | -4.7% |
| Income taxes | 67/77 | €48,072 | €44,273 | -€3,799 | -7.9% |
| Profit (loss) for the period | 9904 | €98,896 | €95,837 | -€3,060 | -3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €98,896 | €95,837 | -€3,060 | -3.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.