IMMO ODIN: 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.
IMMO ODIN
Largest movements
- Current investments +€700,000
up €700,000 (+50.0%), from €1.4m to €2.1m
- Cash -€269,849
down €269,849 (-73.2%), from €368,532 to €98,683
mainly Contributions, distributions and other (-€1.8m) and Current investments (-€700,000)
- Tangible fixed assets -€53,751
down €53,751 (-5.2%), from €1.0m to €978,443
of which Plant, machinery and equipment: -€41,566
- Other debts +€1.8m
new in 2025: €1.8m
- Reserves -€1.4m
down €1.4m (-54.6%), from €2.6m to €1.2m
of which Distributable reserves: -€1.4m
- Financial income -€21,556
down €21,556 (-49.4%), from €43,676 to €22,120
- Gross operating margin -€17,834
down €17,834 (-2.9%), from €608,102 to €590,269
- Taxes -€10,015
down €10,015 (-7.2%), from €139,303 to €129,288
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 | €2,843,565 | €3,242,448 | +€398,883 | +14.0% |
| Fixed assets | 21/28 | €1,032,193 | €978,443 | -€53,751 | -5.2% |
| Tangible fixed assets | 22/27 | €1,032,193 | €978,443 | -€53,751 | -5.2% |
| Land and buildings | 22 | €802,013 | €789,829 | -€12,185 | -1.5% |
| Plant, machinery and equipment | 23 | €230,180 | €188,614 | -€41,566 | -18.1% |
| Current assets | 29/58 | €1,811,372 | €2,264,005 | +€452,633 | +25.0% |
| Amounts receivable within one year | 40/41 | €36,288 | €55,923 | +€19,636 | +54.1% |
| Trade receivables | 40 | €32,488 | €44,776 | +€12,288 | +37.8% |
| Other amounts receivable | 41 | €3,800 | €11,148 | +€7,348 | +193.4% |
| Current investments | 50/53 | €1,400,000 | €2,100,000 | +€700,000 | +50.0% |
| Cash at bank and in hand | 54/58 | €368,532 | €98,683 | -€269,849 | -73.2% |
| Deferred charges and accrued income | 490/1 | €6,552 | €9,399 | +€2,846 | +43.4% |
| Total equity and liabilities | 10/49 | €2,843,565 | €3,242,448 | +€398,883 | +14.0% |
| Equity | 10/15 | €2,648,989 | €1,236,854 | -€1.4m | -53.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €2,586,989 | €1,174,854 | -€1.4m | -54.6% |
| Non-distributable reserves | 130/1 | €78,200 | €78,200 | = | 0.0% |
| Legal reserve | 130 | €78,200 | €78,200 | = | 0.0% |
| Distributable reserves | 133 | €2,508,789 | €1,096,654 | -€1.4m | -56.3% |
| Amounts payable | 17/49 | €194,577 | €2,005,594 | +€1.8m | +930.7% |
| Amounts payable within one year | 42/48 | €191,019 | €2,003,613 | +€1.8m | +948.9% |
| Trade debts | 44 | €6,397 | €12,694 | +€6,297 | +98.4% |
| Suppliers | 440/4 | €6,397 | €12,694 | +€6,297 | +98.4% |
| Advances received on contracts in progress | 46 | €178,951 | €182,809 | +€3,858 | +2.2% |
| Taxes, remuneration and social security | 45 | €5,670 | €8,109 | +€2,439 | +43.0% |
| Taxes | 450/3 | €5,670 | €8,109 | +€2,439 | +43.0% |
| Other amounts payable | 47/48 | - | €1,800,000 | +€1.8m | |
| Accrued charges and deferred income | 492/3 | €3,558 | €1,981 | -€1,577 | -44.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,019 | €53,751 | +€732 | +1.4% |
| Other operating charges | 640/8 | €38,487 | €39,696 | +€1,209 | +3.1% |
| Gross operating margin | 9900 | €608,102 | €590,269 | -€17,834 | -2.9% |
| Operating profit (loss) | 9901 | €516,597 | €496,822 | -€19,775 | -3.8% |
| Financial income | 75/76B | €43,676 | €22,120 | -€21,556 | -49.4% |
| Recurring financial income | 75 | €43,676 | €22,120 | -€21,556 | -49.4% |
| Financial charges | 65/66B | €3,061 | €1,790 | -€1,271 | -41.5% |
| Recurring financial charges | 65 | €3,061 | €1,790 | -€1,271 | -41.5% |
| Profit (loss) for the period before taxes | 9903 | €557,213 | €517,153 | -€40,060 | -7.2% |
| Income taxes | 67/77 | €139,303 | €129,288 | -€10,015 | -7.2% |
| Profit (loss) for the period | 9904 | €417,910 | €387,865 | -€30,045 | -7.2% |
| Profit (loss) for the period to be appropriated | 9905 | €417,910 | €387,865 | -€30,045 | -7.2% |
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 3 October 2026 via checked.be.