O.D.M.: 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.
What changed
O.D.M.
NACE 38.320, Waste collection, recovery and disposal activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.6m
2024 · €2.9m-€1.3m
Equity
€16.2m
2024 · €14.7m+€1.5m
Cash
€4.2m
2024 · €5.6m-€1.4m
Balance sheet total
€20.8m
2024 · €20.3m+€555,212
Largest movements
Assets
- Tangible fixed assets +€3.0m
up €3.0m (+37.4%), from €7.9m to €10.8m
of which Land and buildings: +€2.7m
- Cash -€1.4m
down €1.4m (-25.0%), from €5.6m to €4.2m
mainly Investment in fixed assets (net) (-€4.3m) and Other debts (-€1.3m)
- Receivables within one year -€1.0m
down €1.0m (-21.0%), from €4.8m to €3.8m
of which Trade receivables: -€1.1m
Equity and liabilities
- Debts after one year +€1.8m
new in 2025: €1.8m
- Reserves +€1.5m
up €1.5m (+10.4%), from €14.5m to €16.0m
of which Distributable reserves: +€1.9m
- Other debts -€1.3m
down €1.3m (-91.9%), from €1.4m to €117,196
- Trade debts -€1.2m
down €1.2m (-39.1%), from €3.0m to €1.8m
- Accrued charges and deferred income -€349,919
down €349,919 (-32.6%), from €1.1m to €723,015
Income statement
- Turnover -€3.5m
down €3.5m (-19.9%), from €17.4m to €13.9m
- Goods and materials -€2.0m
down €2.0m (-19.9%), from €10.2m to €8.2m
of which Purchases: -€2.0m
- Services and other goods -€576,241
down €576,241 (-16.9%), from €3.4m to €2.8m
- Depreciation +€432,379
up €432,379 (+50.7%), from €852,590 to €1.3m
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.
Result 2024
€2.9m
Turnover
-€3.5m
Other operating income
+€32,964
Goods and materials
+€2.0m
Services and other goods
+€576,241
Staff costs
+€44,292
Depreciation
-€432,379
Write-downs
-€31,284
Other operating charges
-€7,576
Other operating items
+€181,045
Financial income
-€92,689
Financial charges
-€39,531
Taxes
-€48,244
Deferred taxes and other
-€21,154
Result 2025
€1.6m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€1.2m
Investment
-€4.4m
Financing
+€1.8m
Cash 2024
€5.6m
From operations (derived)
+€1.2m
Net result for the year
+€1.6m
Depreciation
+€1.3m
Smaller working-capital items
-€531
Receivables within one year
+€1.0m
Deferred charges and accrued income
+€163,808
Provisions
+€10,842
Trade debts
-€1.2m
Other debts
-€1.3m
Accrued charges and deferred income
-€349,919
Investment (derived)
-€4.4m
Investment in fixed assets (net)
-€4.3m
Current investments
-€150,000
Financing
+€1.8m
Debts after one year
+€1.8m
Current portion of long-term debt
+€133,344
Contributions, distributions and other
-€101,731
Cash 2025
€4.2m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €20,276,754 | €20,831,966 | +€555,212 | +2.7% |
| Fixed assets | 21/28 | €7,933,445 | €10,912,184 | +€3.0m | +37.5% |
| Intangible fixed assets | 21 | €5,382 | €33,611 | +€28,229 | +525% |
| Tangible fixed assets | 22/27 | €7,892,793 | €10,843,169 | +€3.0m | +37.4% |
| Land and buildings | 22 | €5,163,751 | €7,821,123 | +€2.7m | +51.5% |
| Plant, machinery and equipment | 23 | €301,882 | €712,789 | +€410,907 | +136% |
| Furniture and vehicles | 24 | €1,803,284 | €1,715,197 | -€88,087 | -4.9% |
| Other tangible fixed assets | 26 | €623,875 | €594,059 | -€29,816 | -4.8% |
| Financial fixed assets | 28 | €35,270 | €35,405 | +€135 | +0.4% |
| Affiliated companies | 280/1 | €0 | - | = | |
| Participating interests | 280 | €0 | - | = | |
| Companies linked by participating interests | 282/3 | €25,000 | €25,000 | = | 0.0% |
| Participating interests | 282 | €25,000 | €25,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €10,270 | €10,405 | +€135 | +1.3% |
| Amounts receivable and cash guarantees | 285/8 | €10,270 | €10,405 | +€135 | +1.3% |
| Current assets | 29/58 | €12,343,309 | €9,919,781 | -€2.4m | -19.6% |
| Amounts receivable after more than one year | 29 | €11,600 | €6,800 | -€4,800 | -41.4% |
| Other amounts receivable | 291 | €11,600 | €6,800 | -€4,800 | -41.4% |
| Stocks and contracts in progress | 3 | €23,415 | €22,914 | -€501 | -2.1% |
| Stocks | 30/36 | €23,415 | €22,914 | -€501 | -2.1% |
| Raw materials and consumables | 30/31 | €23,415 | €22,914 | -€501 | -2.1% |
| Amounts receivable within one year | 40/41 | €4,802,030 | €3,795,303 | -€1.0m | -21.0% |
| Trade receivables | 40 | €4,599,654 | €3,497,778 | -€1.1m | -24.0% |
| Other amounts receivable | 41 | €202,376 | €297,525 | +€95,149 | +47.0% |
| Current investments | 50/53 | €220,000 | €370,000 | +€150,000 | +68.2% |
| Other investments | 51/53 | €220,000 | €370,000 | +€150,000 | +68.2% |
| Cash at bank and in hand | 54/58 | €5,593,423 | €4,195,731 | -€1.4m | -25.0% |
| Deferred charges and accrued income | 490/1 | €1,692,841 | €1,529,032 | -€163,808 | -9.7% |
| Total equity and liabilities | 10/49 | €20,276,754 | €20,831,966 | +€555,212 | +2.7% |
| Equity | 10/15 | €14,715,493 | €16,215,040 | +€1.5m | +10.2% |
| Contributions | 10/11 | €264,000 | €264,000 | = | 0.0% |
| Capital | 10 | €264,000 | €264,000 | = | 0.0% |
| Issued capital | 100 | €264,000 | €264,000 | = | 0.0% |
| Reserves | 13 | €14,450,482 | €15,950,029 | +€1.5m | +10.4% |
| Non-distributable reserves | 130/1 | €26,400 | €26,400 | = | 0.0% |
| Legal reserve | 130 | €26,400 | €26,400 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,169,665 | €1,720,146 | -€449,520 | -20.7% |
| Distributable reserves | 133 | €12,254,417 | €14,203,484 | +€1.9m | +15.9% |
| Profit (loss) carried forward | 14 | €1,011 | €1,011 | = | 0.0% |
| Provisions and deferred taxes | 16 | €62,391 | €73,233 | +€10,842 | +17.4% |
| Deferred taxes | 168 | €62,391 | €73,233 | +€10,842 | +17.4% |
| Amounts payable | 17/49 | €5,498,870 | €4,543,693 | -€955,177 | -17.4% |
| Amounts payable after more than one year | 17 | - | €1,755,536 | +€1.8m | |
| Financial debts | 170/4 | - | €1,755,536 | +€1.8m | |
| Credit institutions | 173 | - | €1,755,536 | +€1.8m | |
| Amounts payable within one year | 42/48 | €4,425,935 | €2,065,141 | -€2.4m | -53.3% |
| Current portion of amounts payable after more than one year | 42 | - | €133,344 | +€133,344 | |
| Trade debts | 44 | €2,960,783 | €1,801,840 | -€1.2m | -39.1% |
| Suppliers | 440/4 | €2,960,783 | €1,801,840 | -€1.2m | -39.1% |
| Taxes, remuneration and social security | 45 | €18,593 | €12,761 | -€5,832 | -31.4% |
| Taxes | 450/3 | €0 | - | = | |
| Remuneration and social security | 454/9 | €18,593 | €12,761 | -€5,832 | -31.4% |
| Other amounts payable | 47/48 | €1,446,560 | €117,196 | -€1.3m | -91.9% |
| Accrued charges and deferred income | 492/3 | €1,072,934 | €723,015 | -€349,919 | -32.6% |
| Operating income | 70/76A | €17,991,802 | €14,664,620 | -€3.3m | -18.5% |
| Turnover | 70 | €17,396,806 | €13,935,953 | -€3.5m | -19.9% |
| Other operating income | 74 | €508,492 | €541,456 | +€32,964 | +6.5% |
| Non-recurring operating income | 76A | €86,504 | €187,210 | +€100,706 | +116% |
| Operating charges | 60/66A | €14,806,282 | €12,555,403 | -€2.3m | -15.2% |
| Goods for resale, raw materials and consumables | 60 | €10,173,127 | €8,151,880 | -€2.0m | -19.9% |
| Purchases | 600/8 | €10,168,443 | €8,151,379 | -€2.0m | -19.8% |
| Change in stocks: decrease (increase) | 609 | €4,683 | €501 | -€4,183 | -89.3% |
| Services and other goods | 61 | €3,408,022 | €2,831,782 | -€576,241 | -16.9% |
| Remuneration, social security and pensions | 62 | €231,055 | €186,762 | -€44,292 | -19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €852,590 | €1,284,970 | +€432,379 | +50.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €31,284 | +€31,284 | |
| Other operating charges | 640/8 | €42,831 | €50,407 | +€7,576 | +17.7% |
| Non-recurring operating charges | 66A | €98,658 | €18,319 | -€80,339 | -81.4% |
| Operating profit (loss) | 9901 | €3,185,520 | €2,109,216 | -€1.1m | -33.8% |
| Financial income | 75/76B | €170,257 | €77,568 | -€92,689 | -54.4% |
| Recurring financial income | 75 | €66,990 | €77,568 | +€10,578 | +15.8% |
| Income from financial fixed assets | 750 | €0 | - | = | |
| Income from current assets | 751 | €60,152 | €73,357 | +€13,206 | +22.0% |
| Other financial income | 752/9 | €6,838 | €4,210 | -€2,628 | -38.4% |
| Non-recurring financial income | 76B | €103,267 | €0 | -€103,267 | -100% |
| Financial charges | 65/66B | €21,537 | €61,068 | +€39,531 | +184% |
| Recurring financial charges | 65 | €16,537 | €61,068 | +€44,531 | +269% |
| Debt charges | 650 | - | €43,035 | +€43,035 | |
| Other financial charges | 652/9 | €16,537 | €18,034 | +€1,497 | +9.1% |
| Non-recurring financial charges | 66B | €5,000 | €0 | -€5,000 | -100% |
| Profit (loss) for the period before taxes | 9903 | €3,334,239 | €2,125,716 | -€1.2m | -36.2% |
| Transfer from deferred taxes | 780 | €31,562 | €33,864 | +€2,302 | +7.3% |
| Transfer to deferred taxes | 680 | €21,250 | €44,705 | +€23,455 | +110% |
| Income taxes | 67/77 | €465,352 | €513,596 | +€48,244 | +10.4% |
| Taxes | 670/3 | €465,591 | €513,784 | +€48,193 | +10.4% |
| Tax adjustments and reversals of tax provisions | 77 | €239 | €187 | -€52 | -21.7% |
| Profit (loss) for the period | 9904 | €2,879,199 | €1,601,278 | -€1.3m | -44.4% |
| Transfer from tax-exempt reserves | 789 | €263,085 | €1,004,636 | +€741,550 | +282% |
| Transfer to tax-exempt reserves | 689 | €63,750 | €555,116 | +€491,366 | +771% |
| Profit (loss) for the period to be appropriated | 9905 | €3,078,534 | €2,050,797 | -€1.0m | -33.4% |
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 25 October 2026 via checked.be.