EXPRESS ODON WARLAND: 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.
EXPRESS ODON WARLAND
Largest movements
- Deferred charges and accrued income +€180,998
up €180,998 (+843%), from €21,462 to €202,460
- Tangible fixed assets -€97,035
down €97,035 (-22.6%), from €428,718 to €331,683
of which Plant, machinery and equipment: -€95,228
- Stocks and contracts -€48,388
no longer reported in 2025 (was €48,388)
- Cash +€16,380
up €16,380 (+47.0%), from €34,836 to €51,216
mainly Net result for the year (+€78,622) and Investment in fixed assets (net) (+€65,960)
- Profit (loss) carried forward +€78,622
up €78,622 (+46.5%), from -€168,947 to -€90,325
- Trade debts +€34,333
up €34,333 (+9.0%), from €382,962 to €417,295
- Debts after one year -€28,637
down €28,637 (-12.7%), from €226,268 to €197,631
- Tax, wage and social debts -€12,377
down €12,377 (-18.3%), from €67,805 to €55,428
of which Remuneration and social security: -€16,872
- Gross operating margin +€64,112
up €64,112 (+26.1%), from €245,261 to €309,373
- Staff costs -€25,599
down €25,599 (-12.7%), from €201,511 to €175,913
- Depreciation -€24,121
down €24,121 (-43.7%), from €55,196 to €31,074
- Financial charges -€5,670
down €5,670 (-15.1%), from €37,639 to €31,969
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 | €688,452 | €742,242 | +€53,791 | +7.8% |
| Fixed assets | 21/28 | €428,718 | €331,683 | -€97,035 | -22.6% |
| Tangible fixed assets | 22/27 | €428,718 | €331,683 | -€97,035 | -22.6% |
| Land and buildings | 22 | €310,743 | €290,460 | -€20,283 | -6.5% |
| Plant, machinery and equipment | 23 | €95,228 | - | -€95,228 | |
| Furniture and vehicles | 24 | €22,747 | €41,223 | +€18,477 | +81.2% |
| Current assets | 29/58 | €259,734 | €410,559 | +€150,825 | +58.1% |
| Stocks and contracts in progress | 3 | €48,388 | - | -€48,388 | |
| Stocks | 30/36 | €48,388 | - | -€48,388 | |
| Amounts receivable within one year | 40/41 | €155,047 | €156,882 | +€1,835 | +1.2% |
| Trade receivables | 40 | €4,467 | €40,450 | +€35,984 | +806% |
| Other amounts receivable | 41 | €150,581 | €116,432 | -€34,148 | -22.7% |
| Cash at bank and in hand | 54/58 | €34,836 | €51,216 | +€16,380 | +47.0% |
| Deferred charges and accrued income | 490/1 | €21,462 | €202,460 | +€180,998 | +843% |
| Total equity and liabilities | 10/49 | €688,452 | €742,242 | +€53,791 | +7.8% |
| Equity | 10/15 | -€36,261 | €35,987 | +€72,248 | |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€168,947 | -€90,325 | +€78,622 | +46.5% |
| Investment grants | 15 | €52,686 | €46,313 | -€6,373 | -12.1% |
| Amounts payable | 17/49 | €724,713 | €706,255 | -€18,458 | -2.5% |
| Amounts payable after more than one year | 17 | €226,268 | €197,631 | -€28,637 | -12.7% |
| Financial debts | 170/4 | €226,268 | €197,631 | -€28,637 | -12.7% |
| Amounts payable within one year | 42/48 | €486,735 | €501,359 | +€14,624 | +3.0% |
| Current portion of amounts payable after more than one year | 42 | €35,947 | €28,637 | -€7,310 | -20.3% |
| Trade debts | 44 | €382,962 | €417,295 | +€34,333 | +9.0% |
| Suppliers | 440/4 | €382,962 | €417,295 | +€34,333 | +9.0% |
| Taxes, remuneration and social security | 45 | €67,805 | €55,428 | -€12,377 | -18.3% |
| Taxes | 450/3 | €22,649 | €27,144 | +€4,495 | +19.8% |
| Remuneration and social security | 454/9 | €45,156 | €28,283 | -€16,872 | -37.4% |
| Other amounts payable | 47/48 | €21 | - | -€21 | |
| Accrued charges and deferred income | 492/3 | €11,710 | €7,265 | -€4,445 | -38.0% |
| Remuneration, social security and pensions | 62 | €201,511 | €175,913 | -€25,599 | -12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,196 | €31,074 | -€24,121 | -43.7% |
| Other operating charges | 640/8 | €4,089 | €6,169 | +€2,080 | +50.9% |
| Gross operating margin | 9900 | €245,261 | €309,373 | +€64,112 | +26.1% |
| Operating profit (loss) | 9901 | -€15,535 | €96,217 | +€111,751 | |
| Financial income | 75/76B | €13,781 | €14,374 | +€593 | +4.3% |
| Recurring financial income | 75 | €13,781 | €14,374 | +€593 | +4.3% |
| Financial charges | 65/66B | €37,639 | €31,969 | -€5,670 | -15.1% |
| Recurring financial charges | 65 | €37,639 | €31,969 | -€5,670 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | -€39,393 | €78,622 | +€118,015 | |
| Profit (loss) for the period | 9904 | -€39,393 | €78,622 | +€118,015 | |
| Profit (loss) for the period to be appropriated | 9905 | -€39,393 | €78,622 | +€118,015 |
Source: filed annual accounts (NBB), financial years ended 31 January 2024 and 31 January 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.