O.L.E.V.: 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.L.E.V.
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€59,971
2024 · -€7,253+€67,224
Equity
€5.2m
2024 · €5.1m+€59,971
Cash
€32,469
2024 · €21,014+€11,455
Balance sheet total
€9.2m
2024 · €9.6m-€383,371
Largest movements
Assets
- Receivables within one year +€452,988
up €452,988 (+139%), from €324,755 to €777,744
of which Trade receivables: +€675,480
- Receivables after one year -€391,593
down €391,593 (-16.5%), from €2.4m to €2.0m
- Tangible fixed assets -€297,715
down €297,715 (-5.8%), from €5.2m to €4.9m
of which Land and buildings: -€178,002
- Stocks and contracts -€156,015
down €156,015 (-100%), from €156,015 to €0
Equity and liabilities
- Debts after one year -€861,000
down €861,000 (-21.6%), from €4.0m to €3.1m
- Tax, wage and social debts +€152,906
up €152,906 (+389%), from €39,338 to €192,244
of which Taxes: +€150,111
- Accrued charges and deferred income +€146,162
up €146,162 (+279%), from €52,367 to €198,528
- Other debts +€105,467
up €105,467 (+907%), from €11,633 to €117,099
Income statement
- Gross operating margin +€109,436
up €109,436 (+20.3%), from €539,207 to €648,643
- Taxes +€30,326
up €30,326 (+361%), from €8,393 to €38,718
- Financial income -€18,311
down €18,311 (-15.7%), from €116,322 to €98,012
- Depreciation +€18,086
up €18,086 (+4.6%), from €390,263 to €408,349
- Staff costs +€11,753
up €11,753 (+7.5%), from €157,746 to €169,499
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
-€7,253
Gross operating margin
+€109,436
Staff costs
-€11,753
Depreciation
-€18,086
Other operating charges
+€9,504
Other operating items
+€17,709
Financial income
-€18,311
Financial charges
+€10,980
Taxes
-€30,326
Deferred taxes and other
-€1,931
Result 2025
€59,971
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
+€983,090
Investment
-€110,634
Financing
-€861,000
Cash 2024
€21,014
From operations (derived)
+€983,090
Net result for the year
+€59,971
Depreciation
+€408,349
Receivables after one year
+€391,593
Stocks and contracts
+€156,015
Receivables within one year
-€452,988
Deferred charges and accrued income
+€2,493
Provisions
-€22,218
Trade debts
+€7,967
Tax, wage and social debts
+€152,906
Advances received
+€27,374
Other debts
+€105,467
Accrued charges and deferred income
+€146,162
Investment (derived)
-€110,634
Investment in fixed assets (net)
-€110,634
Financing
-€861,000
Debts after one year
-€861,000
Cash 2025
€32,469
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,597,258 | €9,213,887 | -€383,371 | -4.0% |
| Fixed assets | 21/28 | €6,704,967 | €6,407,253 | -€297,715 | -4.4% |
| Intangible fixed assets | 21 | €196,828 | €196,828 | = | 0.0% |
| Tangible fixed assets | 22/27 | €5,166,832 | €4,869,117 | -€297,715 | -5.8% |
| Land and buildings | 22 | €4,502,109 | €4,324,107 | -€178,002 | -4.0% |
| Plant, machinery and equipment | 23 | €641,310 | €531,170 | -€110,140 | -17.2% |
| Furniture and vehicles | 24 | €23,413 | €13,840 | -€9,573 | -40.9% |
| Financial fixed assets | 28 | €1,341,308 | €1,341,308 | = | 0.0% |
| Current assets | 29/58 | €2,892,290 | €2,806,634 | -€85,657 | -3.0% |
| Amounts receivable after more than one year | 29 | €2,366,780 | €1,975,187 | -€391,593 | -16.5% |
| Other amounts receivable | 291 | €2,366,780 | €1,975,187 | -€391,593 | -16.5% |
| Stocks and contracts in progress | 3 | €156,015 | €0 | -€156,015 | -100% |
| Stocks | 30/36 | €156,015 | €0 | -€156,015 | -100% |
| Amounts receivable within one year | 40/41 | €324,755 | €777,744 | +€452,988 | +139% |
| Trade receivables | 40 | €53,685 | €729,165 | +€675,480 | +1,258% |
| Other amounts receivable | 41 | €271,070 | €48,579 | -€222,492 | -82.1% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €21,014 | €32,469 | +€11,455 | +54.5% |
| Deferred charges and accrued income | 490/1 | €23,727 | €21,234 | -€2,493 | -10.5% |
| Total equity and liabilities | 10/49 | €9,597,258 | €9,213,887 | -€383,371 | -4.0% |
| Equity | 10/15 | €5,112,102 | €5,172,073 | +€59,971 | +1.2% |
| Contributions | 10/11 | €1,406,963 | €1,406,963 | = | 0.0% |
| Capital | 10 | €1,406,963 | €1,406,963 | = | 0.0% |
| Issued capital | 100 | €1,406,963 | €1,406,963 | = | 0.0% |
| Reserves | 13 | €3,705,140 | €3,765,111 | +€59,971 | +1.6% |
| Non-distributable reserves | 130/1 | €140,696 | €140,696 | = | 0.0% |
| Legal reserve | 130 | €140,696 | €140,696 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,441,612 | €1,374,959 | -€66,653 | -4.6% |
| Distributable reserves | 133 | €2,122,831 | €2,249,456 | +€126,624 | +6.0% |
| Provisions and deferred taxes | 16 | €305,417 | €283,200 | -€22,218 | -7.3% |
| Deferred taxes | 168 | €305,417 | €283,200 | -€22,218 | -7.3% |
| Amounts payable | 17/49 | €4,179,739 | €3,758,614 | -€421,125 | -10.1% |
| Amounts payable after more than one year | 17 | €3,980,000 | €3,119,000 | -€861,000 | -21.6% |
| Financial debts | 170/4 | €3,980,000 | €3,119,000 | -€861,000 | -21.6% |
| Amounts payable within one year | 42/48 | €147,372 | €441,085 | +€293,713 | +199% |
| Trade debts | 44 | €46,837 | €54,804 | +€7,967 | +17.0% |
| Suppliers | 440/4 | €46,837 | €54,804 | +€7,967 | +17.0% |
| Advances received on contracts in progress | 46 | €49,564 | €76,938 | +€27,374 | +55.2% |
| Taxes, remuneration and social security | 45 | €39,338 | €192,244 | +€152,906 | +389% |
| Taxes | 450/3 | €16,065 | €166,176 | +€150,111 | +934% |
| Remuneration and social security | 454/9 | €23,273 | €26,068 | +€2,794 | +12.0% |
| Other amounts payable | 47/48 | €11,633 | €117,099 | +€105,467 | +907% |
| Accrued charges and deferred income | 492/3 | €52,367 | €198,528 | +€146,162 | +279% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €157,746 | €169,499 | +€11,753 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €390,263 | €408,349 | +€18,086 | +4.6% |
| Other operating charges | 640/8 | €37,970 | €28,466 | -€9,504 | -25.0% |
| Non-recurring operating charges | 66A | €19,907 | €2,198 | -€17,709 | -89.0% |
| Gross operating margin | 9900 | €539,207 | €648,643 | +€109,436 | +20.3% |
| Operating profit (loss) | 9901 | -€66,679 | €40,131 | +€106,811 | |
| Financial income | 75/76B | €116,322 | €98,012 | -€18,311 | -15.7% |
| Recurring financial income | 75 | €116,322 | €98,012 | -€18,311 | -15.7% |
| Financial charges | 65/66B | €72,652 | €61,671 | -€10,980 | -15.1% |
| Recurring financial charges | 65 | €72,652 | €61,671 | -€10,980 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | -€23,009 | €76,472 | +€99,480 | |
| Transfer from deferred taxes | 780 | €24,148 | €22,218 | -€1,931 | -8.0% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €8,393 | €38,718 | +€30,326 | +361% |
| Profit (loss) for the period | 9904 | -€7,253 | €59,971 | +€67,224 | |
| Transfer from tax-exempt reserves | 789 | €86,234 | €66,653 | -€19,581 | -22.7% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €78,981 | €126,624 | +€47,643 | +60.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.