O.H.E.: 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.
What changed
O.H.E.
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€75,421
2024 · -€117,793+€42,372
Equity
€2.2m
2024 · €2.2m-€75,421
Cash
€308,706
2024 · €340,412-€31,706
Balance sheet total
€10.4m
2024 · €10.8m-€371,794
Largest movements
Assets
- Tangible fixed assets -€187,740
down €187,740 (-2.1%), from €8.8m to €8.6m
of which Leasing and similar rights: -€366,880
- Receivables within one year -€168,541
down €168,541 (-27.2%), from €619,219 to €450,679
of which Trade receivables: -€222,441
Equity and liabilities
- Trade debts -€210,841
down €210,841 (-97.1%), from €217,219 to €6,378
- Debts after one year -€161,405
down €161,405 (-2.4%), from €6.7m to €6.6m
of which Financial debts: -€473,245
Income statement
- Depreciation -€70,792
down €70,792 (-13.3%), from €531,176 to €460,384
- Financial income -€24,764
down €24,764 (-45.6%), from €54,348 to €29,585
- Financial charges +€11,296
up €11,296 (+5.3%), from €212,625 to €223,921
- Gross operating margin +€9,726
up €9,726 (+1.6%), from €596,847 to €606,572
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
-€117,793
Gross operating margin
+€9,726
Depreciation
+€70,792
Other operating charges
-€1,168
Financial income
-€24,764
Financial charges
-€11,296
Taxes
-€918
Result 2025
-€75,421
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.
From operations
+€389,601
Investment
-€272,644
Financing
-€148,662
Cash 2024
€340,412
From operations (derived)
+€389,601
Net result for the year
-€75,421
Depreciation
+€460,384
Receivables within one year
+€168,541
Deferred charges and accrued income
-€16,192
Provisions
-€18,084
Trade debts
-€210,841
Other debts
+€48,615
Accrued charges and deferred income
+€32,601
Investment (derived)
-€272,644
Investment in fixed assets (net)
-€272,644
Financing
-€148,662
Debts after one year
-€161,405
Current portion of long-term debt
+€12,743
Cash 2025
€308,706
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,820,879 | €10,449,085 | -€371,794 | -3.4% |
| Fixed assets | 21/28 | €9,804,359 | €9,616,619 | -€187,740 | -1.9% |
| Tangible fixed assets | 22/27 | €8,804,359 | €8,616,619 | -€187,740 | -2.1% |
| Land and buildings | 22 | €1,828,498 | €1,999,464 | +€170,966 | +9.4% |
| Leasing and similar rights | 25 | €6,702,345 | €6,335,465 | -€366,880 | -5.5% |
| Other tangible fixed assets | 26 | €273,516 | €281,690 | +€8,174 | +3.0% |
| Financial fixed assets | 28 | €1,000,000 | €1,000,000 | = | 0.0% |
| Current assets | 29/58 | €1,016,520 | €832,466 | -€184,054 | -18.1% |
| Amounts receivable within one year | 40/41 | €619,219 | €450,679 | -€168,541 | -27.2% |
| Trade receivables | 40 | €260,472 | €38,031 | -€222,441 | -85.4% |
| Other amounts receivable | 41 | €358,748 | €412,648 | +€53,900 | +15.0% |
| Cash at bank and in hand | 54/58 | €340,412 | €308,706 | -€31,706 | -9.3% |
| Deferred charges and accrued income | 490/1 | €56,888 | €73,081 | +€16,192 | +28.5% |
| Total equity and liabilities | 10/49 | €10,820,879 | €10,449,085 | -€371,794 | -3.4% |
| Equity | 10/15 | €2,227,425 | €2,152,004 | -€75,421 | -3.4% |
| 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 | €2,165,425 | €2,090,004 | -€75,421 | -3.5% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €860,864 | €806,611 | -€54,253 | -6.3% |
| Distributable reserves | 133 | €1,298,362 | €1,277,194 | -€21,168 | -1.6% |
| Provisions and deferred taxes | 16 | €286,891 | €268,807 | -€18,084 | -6.3% |
| Deferred taxes | 168 | €286,891 | €268,807 | -€18,084 | -6.3% |
| Amounts payable | 17/49 | €8,306,562 | €8,028,274 | -€278,288 | -3.4% |
| Amounts payable after more than one year | 17 | €6,726,925 | €6,565,520 | -€161,405 | -2.4% |
| Financial debts | 170/4 | €6,726,925 | €6,253,680 | -€473,245 | -7.0% |
| Other amounts payable | 178/9 | - | €311,840 | +€311,840 | |
| Amounts payable within one year | 42/48 | €1,579,637 | €1,430,153 | -€149,484 | -9.5% |
| Current portion of amounts payable after more than one year | 42 | €460,503 | €473,245 | +€12,743 | +2.8% |
| Trade debts | 44 | €217,219 | €6,378 | -€210,841 | -97.1% |
| Suppliers | 440/4 | €217,219 | €6,378 | -€210,841 | -97.1% |
| Taxes, remuneration and social security | 45 | €5,000 | €5,000 | = | 0.0% |
| Taxes | 450/3 | €5,000 | €5,000 | = | 0.0% |
| Other amounts payable | 47/48 | €896,915 | €945,530 | +€48,615 | +5.4% |
| Accrued charges and deferred income | 492/3 | - | €32,601 | +€32,601 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €531,176 | €460,384 | -€70,792 | -13.3% |
| Other operating charges | 640/8 | €44,190 | €45,358 | +€1,168 | +2.6% |
| Gross operating margin | 9900 | €596,847 | €606,572 | +€9,726 | +1.6% |
| Operating profit (loss) | 9901 | €21,481 | €100,831 | +€79,349 | +369.4% |
| Financial income | 75/76B | €54,348 | €29,585 | -€24,764 | -45.6% |
| Recurring financial income | 75 | €54,348 | €29,585 | -€24,764 | -45.6% |
| Financial charges | 65/66B | €212,625 | €223,921 | +€11,296 | +5.3% |
| Recurring financial charges | 65 | €212,625 | €223,921 | +€11,296 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | -€136,796 | -€93,506 | +€43,290 | +31.6% |
| Transfer from deferred taxes | 780 | €18,084 | €18,084 | = | 0.0% |
| Income taxes | 67/77 | -€918 | €0 | +€918 | |
| Profit (loss) for the period | 9904 | -€117,793 | -€75,421 | +€42,372 | +36.0% |
| Transfer from tax-exempt reserves | 789 | €54,253 | €54,253 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€63,540 | -€21,168 | +€42,372 | +66.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.