O'Belar: 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.
O'Belar
Largest movements
- Receivables within one year +€259,628
up €259,628 (+648%), from €40,089 to €299,716
of which Other amounts receivable: +€158,643
- Cash -€128,702
down €128,702 (-28.8%), from €446,336 to €317,634
mainly Receivables within one year (-€259,628) and Contributions, distributions and other (-€200,000)
- Receivables after one year -€80,000
no longer reported in 2025 (was €80,000)
- Tangible fixed assets -€35,932
down €35,932 (-20.0%), from €179,626 to €143,695
of which Other tangible fixed assets: -€23,720
- Intangible fixed assets +€31,411
up €31,411 (+167%), from €18,801 to €50,211
- Tax, wage and social debts -€56,449
down €56,449 (-51.1%), from €110,388 to €53,939
of which Taxes: -€65,696
- Trade debts +€45,531
up €45,531 (+39.9%), from €114,154 to €159,685
- Debts after one year -€44,147
down €44,147 (-66.1%), from €66,782 to €22,635
- Current portion of long-term debt +€43,898
up €43,898 (+102%), from €43,147 to €87,044
- Other debts +€29,477
up €29,477 (+11.5%), from €257,101 to €286,578
- Staff costs +€85,434
up €85,434 (+20.2%), from €421,911 to €507,345
- Financial income -€12,381
no longer reported in 2025 (was €12,381)
- Taxes -€9,836
down €9,836 (-12.2%), from €80,816 to €70,980
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 | €812,148 | €840,005 | +€27,857 | +3.4% |
| Fixed assets | 21/28 | €198,427 | €194,131 | -€4,296 | -2.2% |
| Intangible fixed assets | 21 | €18,801 | €50,211 | +€31,411 | +167% |
| Tangible fixed assets | 22/27 | €179,626 | €143,695 | -€35,932 | -20.0% |
| Plant, machinery and equipment | 23 | €12,280 | €6,328 | -€5,952 | -48.5% |
| Furniture and vehicles | 24 | €13,974 | €7,714 | -€6,259 | -44.8% |
| Other tangible fixed assets | 26 | €153,373 | €129,652 | -€23,720 | -15.5% |
| Financial fixed assets | 28 | - | €225 | +€225 | |
| Current assets | 29/58 | €613,721 | €645,874 | +€32,153 | +5.2% |
| Amounts receivable after more than one year | 29 | €80,000 | - | -€80,000 | |
| Other amounts receivable | 291 | €80,000 | - | -€80,000 | |
| Stocks and contracts in progress | 3 | €26,808 | €28,524 | +€1,715 | +6.4% |
| Stocks | 30/36 | €26,808 | €28,524 | +€1,715 | +6.4% |
| Amounts receivable within one year | 40/41 | €40,089 | €299,716 | +€259,628 | +648% |
| Trade receivables | 40 | €18,004 | €118,989 | +€100,985 | +561% |
| Other amounts receivable | 41 | €22,085 | €180,728 | +€158,643 | +718% |
| Cash at bank and in hand | 54/58 | €446,336 | €317,634 | -€128,702 | -28.8% |
| Deferred charges and accrued income | 490/1 | €20,488 | - | -€20,488 | |
| Total equity and liabilities | 10/49 | €812,148 | €840,005 | +€27,857 | +3.4% |
| Equity | 10/15 | €220,575 | €230,123 | +€9,548 | +4.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Contributions outside capital | 11 | €20,000 | €20,000 | = | 0.0% |
| Other | 1109/19 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €200,575 | €210,123 | +€9,548 | +4.8% |
| Amounts payable | 17/49 | €591,573 | €609,882 | +€18,309 | +3.1% |
| Amounts payable after more than one year | 17 | €66,782 | €22,635 | -€44,147 | -66.1% |
| Financial debts | 170/4 | €66,782 | €22,635 | -€44,147 | -66.1% |
| Amounts payable within one year | 42/48 | €524,790 | €587,246 | +€62,456 | +11.9% |
| Current portion of amounts payable after more than one year | 42 | €43,147 | €87,044 | +€43,898 | +102% |
| Trade debts | 44 | €114,154 | €159,685 | +€45,531 | +39.9% |
| Suppliers | 440/4 | €114,154 | €159,685 | +€45,531 | +39.9% |
| Taxes, remuneration and social security | 45 | €110,388 | €53,939 | -€56,449 | -51.1% |
| Taxes | 450/3 | €65,696 | - | -€65,696 | |
| Remuneration and social security | 454/9 | €44,693 | €53,939 | +€9,246 | +20.7% |
| Other amounts payable | 47/48 | €257,101 | €286,578 | +€29,477 | +11.5% |
| Remuneration, social security and pensions | 62 | €421,911 | €507,345 | +€85,434 | +20.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,173 | €49,065 | -€7,109 | -12.7% |
| Other operating charges | 640/8 | €2,445 | €9,466 | +€7,021 | +287% |
| Gross operating margin | 9900 | €856,477 | €853,909 | -€2,568 | -0.3% |
| Operating profit (loss) | 9901 | €375,948 | €288,033 | -€87,915 | -23.4% |
| Financial income | 75/76B | €12,381 | - | -€12,381 | |
| Recurring financial income | 75 | €12,381 | - | -€12,381 | |
| Financial charges | 65/66B | €3,939 | €7,504 | +€3,565 | +90.5% |
| Recurring financial charges | 65 | €3,939 | €7,504 | +€3,565 | +90.5% |
| Profit (loss) for the period before taxes | 9903 | €384,389 | €280,528 | -€103,861 | -27.0% |
| Income taxes | 67/77 | €80,816 | €70,980 | -€9,836 | -12.2% |
| Profit (loss) for the period | 9904 | €303,573 | €209,548 | -€94,025 | -31.0% |
| Profit (loss) for the period to be appropriated | 9905 | €303,573 | €209,548 | -€94,025 | -31.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.