LORO: 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.
LORO
Largest movements
- Receivables within one year -€44,444
down €44,444 (-56.1%), from €79,288 to €34,843
of which Trade receivables: -€39,648
- Stocks and contracts -€17,899
down €17,899 (-39.3%), from €45,592 to €27,694
- Tangible fixed assets -€8,215
down €8,215 (-64.2%), from €12,800 to €4,586
- Other debts +€57,363
up €57,363 (+16565.1%), from €346 to €57,710
- Accrued charges and deferred income -€55,400
down €55,400 (-81.1%), from €68,346 to €12,946
- Profit (loss) carried forward -€54,291
down €54,291 (-268.3%), from -€20,238 to -€74,529
- Trade debts -€11,120
down €11,120 (-60.7%), from €18,311 to €7,191
- Debts after one year -€4,266
down €4,266 (-66.3%), from €6,431 to €2,165
- Gross operating margin -€79,838
down €79,838, from €49,219 to -€30,619
- Staff costs -€29,808
down €29,808 (-71.2%), from €41,846 to €12,037
- Depreciation -€4,495
down €4,495 (-35.4%), from €12,709 to €8,215
- Other operating charges -€1,929
down €1,929 (-68.4%), from €2,821 to €892
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 | €141,200 | €69,781 | -€71,420 | -50.6% |
| Fixed assets | 21/28 | €13,000 | €4,786 | -€8,215 | -63.2% |
| Tangible fixed assets | 22/27 | €12,800 | €4,586 | -€8,215 | -64.2% |
| Plant, machinery and equipment | 23 | €5,376 | €1,731 | -€3,645 | -67.8% |
| Furniture and vehicles | 24 | €3,345 | - | -€3,345 | |
| Other tangible fixed assets | 26 | €4,080 | €2,855 | -€1,225 | -30.0% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €128,200 | €64,995 | -€63,205 | -49.3% |
| Stocks and contracts in progress | 3 | €45,592 | €27,694 | -€17,899 | -39.3% |
| Stocks | 30/36 | €45,592 | €27,694 | -€17,899 | -39.3% |
| Amounts receivable within one year | 40/41 | €79,288 | €34,843 | -€44,444 | -56.1% |
| Trade receivables | 40 | €62,500 | €22,852 | -€39,648 | -63.4% |
| Other amounts receivable | 41 | €16,788 | €11,991 | -€4,796 | -28.6% |
| Cash at bank and in hand | 54/58 | €2,421 | €1,513 | -€908 | -37.5% |
| Deferred charges and accrued income | 490/1 | €900 | €945 | +€46 | +5.1% |
| Total equity and liabilities | 10/49 | €141,200 | €69,781 | -€71,420 | -50.6% |
| Equity | 10/15 | €39,056 | -€15,235 | -€54,291 | |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €40,702 | €40,702 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,740 | €37,740 | = | 0.0% |
| Distributable reserves | 133 | €2,962 | €2,962 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,238 | -€74,529 | -€54,291 | -268.3% |
| Amounts payable | 17/49 | €102,145 | €85,016 | -€17,129 | -16.8% |
| Amounts payable after more than one year | 17 | €6,431 | €2,165 | -€4,266 | -66.3% |
| Financial debts | 170/4 | €6,431 | €2,165 | -€4,266 | -66.3% |
| Amounts payable within one year | 42/48 | €27,367 | €69,905 | +€42,538 | +155.4% |
| Current portion of amounts payable after more than one year | 42 | €3,428 | €3,511 | +€83 | +2.4% |
| Trade debts | 44 | €18,311 | €7,191 | -€11,120 | -60.7% |
| Suppliers | 440/4 | €18,311 | €7,191 | -€11,120 | -60.7% |
| Taxes, remuneration and social security | 45 | €5,281 | €1,492 | -€3,789 | -71.7% |
| Taxes | 450/3 | €1,366 | €178 | -€1,188 | -87.0% |
| Remuneration and social security | 454/9 | €3,916 | €1,315 | -€2,601 | -66.4% |
| Other amounts payable | 47/48 | €346 | €57,710 | +€57,363 | +16565.1% |
| Accrued charges and deferred income | 492/3 | €68,346 | €12,946 | -€55,400 | -81.1% |
| Remuneration, social security and pensions | 62 | €41,846 | €12,037 | -€29,808 | -71.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,709 | €8,215 | -€4,495 | -35.4% |
| Other operating charges | 640/8 | €2,821 | €892 | -€1,929 | -68.4% |
| Non-recurring operating charges | 66A | €1,086 | €295 | -€791 | -72.9% |
| Gross operating margin | 9900 | €49,219 | -€30,619 | -€79,838 | |
| Operating profit (loss) | 9901 | -€9,243 | -€52,057 | -€42,815 | -463.2% |
| Financial income | 75/76B | €4 | €0 | -€4 | -89.3% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -89.3% |
| Financial charges | 65/66B | €2,192 | €2,056 | -€135 | -6.2% |
| Recurring financial charges | 65 | €2,192 | €1,690 | -€502 | -22.9% |
| Non-recurring financial charges | 66B | - | €367 | +€367 | |
| Profit (loss) for the period before taxes | 9903 | -€11,430 | -€54,113 | -€42,683 | -373.4% |
| Income taxes | 67/77 | €500 | €178 | -€322 | -64.5% |
| Profit (loss) for the period | 9904 | -€11,929 | -€54,291 | -€42,361 | -355.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,929 | -€54,291 | -€42,361 | -355.1% |
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 5 October 2026 via checked.be.