DR. GEORGES OTTE: 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.
DR. GEORGES OTTE
Largest movements
- Tangible fixed assets -€19,696
down €19,696 (-11.3%), from €174,420 to €154,724
of which Land and buildings: -€19,394
- Cash -€18,780
down €18,780 (-71.8%), from €26,161 to €7,381
mainly Net result for the year (-€54,330) and Trade debts (-€4,985)
- Deferred charges and accrued income -€12,328
down €12,328 (-19.5%), from €63,254 to €50,926
- Profit (loss) carried forward -€54,330
down €54,330 (-119%), from -€45,651 to -€99,981
- Other debts +€8,383
up €8,383 (+6.1%), from €137,697 to €146,080
- Trade debts -€4,985
down €4,985 (-76.5%), from €6,515 to €1,530
- Gross operating margin -€39,559
down €39,559, from €11,281 to -€28,278
- Other operating charges +€1,255
up €1,255 (+41.6%), from €3,013 to €4,268
- Depreciation +€593
up €593 (+2.8%), from €20,985 to €21,578
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 | €289,130 | €238,031 | -€51,099 | -17.7% |
| Fixed assets | 21/28 | €174,420 | €154,724 | -€19,696 | -11.3% |
| Tangible fixed assets | 22/27 | €174,420 | €154,724 | -€19,696 | -11.3% |
| Land and buildings | 22 | €168,861 | €149,467 | -€19,394 | -11.5% |
| Plant, machinery and equipment | 23 | €1,554 | €2,781 | +€1,227 | +78.9% |
| Furniture and vehicles | 24 | €4,004 | €2,476 | -€1,528 | -38.2% |
| Current assets | 29/58 | €114,710 | €83,307 | -€31,403 | -27.4% |
| Amounts receivable within one year | 40/41 | €295 | - | -€295 | |
| Other amounts receivable | 41 | €295 | - | -€295 | |
| Current investments | 50/53 | €25,000 | €25,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €26,161 | €7,381 | -€18,780 | -71.8% |
| Deferred charges and accrued income | 490/1 | €63,254 | €50,926 | -€12,328 | -19.5% |
| Total equity and liabilities | 10/49 | €289,130 | €238,031 | -€51,099 | -17.7% |
| Equity | 10/15 | €44,555 | -€9,775 | -€54,330 | |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €77,806 | €77,806 | -€0 | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €75,946 | €75,946 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€45,651 | -€99,981 | -€54,330 | -119% |
| Provisions and deferred taxes | 16 | €100,000 | €100,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €100,000 | €100,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable | 17/49 | €144,575 | €147,806 | +€3,231 | +2.2% |
| Amounts payable within one year | 42/48 | €144,575 | €147,806 | +€3,231 | +2.2% |
| Trade debts | 44 | €6,515 | €1,530 | -€4,985 | -76.5% |
| Suppliers | 440/4 | €6,515 | €1,530 | -€4,985 | -76.5% |
| Taxes, remuneration and social security | 45 | €363 | €196 | -€167 | -46.1% |
| Taxes | 450/3 | €363 | €196 | -€167 | -46.1% |
| Other amounts payable | 47/48 | €137,697 | €146,080 | +€8,383 | +6.1% |
| Non-recurring operating income | 76A | - | €800 | +€800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,985 | €21,578 | +€593 | +2.8% |
| Other operating charges | 640/8 | €3,013 | €4,268 | +€1,255 | +41.6% |
| Gross operating margin | 9900 | €11,281 | -€28,278 | -€39,559 | |
| Operating profit (loss) | 9901 | -€12,717 | -€54,124 | -€41,407 | -326% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €179 | €206 | +€27 | +15.2% |
| Recurring financial charges | 65 | €179 | €206 | +€27 | +15.2% |
| Profit (loss) for the period before taxes | 9903 | -€12,896 | -€54,330 | -€41,434 | -321% |
| Income taxes | 67/77 | €168 | - | -€168 | |
| Profit (loss) for the period | 9904 | -€13,063 | -€54,330 | -€41,267 | -316% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,063 | -€54,330 | -€41,267 | -316% |
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 13 October 2026 via checked.be.