O'DOUCE: 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'DOUCE
Largest movements
- Receivables within one year -€21,746
down €21,746 (-65.0%), from €33,481 to €11,735
of which Other amounts receivable: -€21,731
- Tangible fixed assets +€21,715
up €21,715 (+4.3%), from €508,825 to €530,540
of which Plant, machinery and equipment: +€44,343
- Cash +€11,183
up €11,183 (+37.3%), from €29,999 to €41,182
mainly Net result for the year (+€80,983) and Depreciation (+€48,749)
- Reserves +€80,150
up €80,150 (+51.1%), from €156,844 to €236,994
- Debts after one year -€69,764
down €69,764 (-20.7%), from €337,496 to €267,732
- Gross operating margin +€40,693
up €40,693 (+28.0%), from €145,357 to €186,049
- Taxes +€10,658
up €10,658 (+47.5%), from €22,430 to €33,088
- Depreciation +€10,394
up €10,394 (+27.1%), from €38,355 to €48,749
- Financial charges +€2,731
up €2,731 (+19.3%), from €14,148 to €16,879
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 | €572,305 | €583,457 | +€11,152 | +1.9% |
| Fixed assets | 21/28 | €508,825 | €530,540 | +€21,715 | +4.3% |
| Tangible fixed assets | 22/27 | €508,825 | €530,540 | +€21,715 | +4.3% |
| Land and buildings | 22 | €367,115 | €350,941 | -€16,173 | -4.4% |
| Plant, machinery and equipment | 23 | €40,338 | €84,681 | +€44,343 | +110% |
| Furniture and vehicles | 24 | €101,372 | €94,918 | -€6,454 | -6.4% |
| Current assets | 29/58 | €63,480 | €52,917 | -€10,563 | -16.6% |
| Amounts receivable within one year | 40/41 | €33,481 | €11,735 | -€21,746 | -65.0% |
| Trade receivables | 40 | €1,957 | €1,941 | -€15 | -0.8% |
| Other amounts receivable | 41 | €31,524 | €9,794 | -€21,731 | -68.9% |
| Cash at bank and in hand | 54/58 | €29,999 | €41,182 | +€11,183 | +37.3% |
| Total equity and liabilities | 10/49 | €572,305 | €583,457 | +€11,152 | +1.9% |
| Equity | 10/15 | €206,844 | €286,994 | +€80,150 | +38.7% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €156,844 | €236,994 | +€80,150 | +51.1% |
| Distributable reserves | 133 | €156,844 | €236,994 | +€80,150 | +51.1% |
| Amounts payable | 17/49 | €365,461 | €296,463 | -€68,998 | -18.9% |
| Amounts payable after more than one year | 17 | €337,496 | €267,732 | -€69,764 | -20.7% |
| Financial debts | 170/4 | €337,496 | €267,732 | -€69,764 | -20.7% |
| Amounts payable within one year | 42/48 | €27,965 | €28,731 | +€766 | +2.7% |
| Current portion of amounts payable after more than one year | 42 | €11,418 | €11,764 | +€346 | +3.0% |
| Financial debts | 43 | - | €11 | +€11 | |
| Credit institutions | 430/8 | - | €11 | +€11 | |
| Trade debts | 44 | €1,421 | €4,101 | +€2,680 | +189% |
| Suppliers | 440/4 | €1,421 | €4,101 | +€2,680 | +189% |
| Taxes, remuneration and social security | 45 | €12,154 | €12,731 | +€578 | +4.8% |
| Taxes | 450/3 | €12,154 | €12,731 | +€578 | +4.8% |
| Other amounts payable | 47/48 | €2,972 | €123 | -€2,849 | -95.9% |
| Non-recurring operating income | 76A | €1,240 | €29,000 | +€27,760 | +2,239% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,355 | €48,749 | +€10,394 | +27.1% |
| Other operating charges | 640/8 | €7,256 | €6,351 | -€905 | -12.5% |
| Gross operating margin | 9900 | €145,357 | €186,049 | +€40,693 | +28.0% |
| Operating profit (loss) | 9901 | €99,746 | €130,950 | +€31,204 | +31.3% |
| Financial charges | 65/66B | €14,148 | €16,879 | +€2,731 | +19.3% |
| Recurring financial charges | 65 | €14,148 | €16,879 | +€2,731 | +19.3% |
| Profit (loss) for the period before taxes | 9903 | €85,598 | €114,071 | +€28,473 | +33.3% |
| Income taxes | 67/77 | €22,430 | €33,088 | +€10,658 | +47.5% |
| Profit (loss) for the period | 9904 | €63,168 | €80,983 | +€17,815 | +28.2% |
| Profit (loss) for the period to be appropriated | 9905 | €63,168 | €80,983 | +€17,815 | +28.2% |
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 14 October 2026 via checked.be.