O'RAMA: 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'RAMA
Largest movements
- Tangible fixed assets -€96,218
down €96,218 (-5.5%), from €1.7m to €1.7m
of which Land and buildings: -€94,215
- Current investments -€50,000
down €50,000 (-4.5%), from €1.1m to €1.1m
- Debts after one year -€102,869
down €102,869 (-6.2%), from €1.7m to €1.6m
of which Financial debts: -€102,869
- Profit (loss) carried forward -€65,982
new in 2025: -€65,982
- Reserves -€51,781
down €51,781 (-100%), from €51,781 to €0
- Financial income -€63,755
down €63,755 (-58.8%), from €108,437 to €44,682
- Financial charges +€38,717
up €38,717 (+723%), from €5,352 to €44,070
- Gross operating margin +€15,391
up €15,391 (+47.6%), from -€32,352 to -€16,961
- Other operating charges -€1,620
down €1,620 (-35.6%), from €4,545 to €2,925
- Depreciation +€980
up €980 (+1.0%), from €97,510 to €98,490
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 | €3,507,201 | €3,305,865 | -€201,336 | -5.7% |
| Fixed assets | 21/28 | €2,071,588 | €1,975,370 | -€96,218 | -4.6% |
| Tangible fixed assets | 22/27 | €1,747,588 | €1,651,370 | -€96,218 | -5.5% |
| Land and buildings | 22 | €1,722,713 | €1,628,498 | -€94,215 | -5.5% |
| Plant, machinery and equipment | 23 | €528 | €107 | -€421 | -79.7% |
| Furniture and vehicles | 24 | €9,348 | €7,766 | -€1,582 | -16.9% |
| Other tangible fixed assets | 26 | €15,000 | €15,000 | = | 0.0% |
| Financial fixed assets | 28 | €324,000 | €324,000 | = | 0.0% |
| Current assets | 29/58 | €1,435,613 | €1,330,494 | -€105,118 | -7.3% |
| Amounts receivable after more than one year | 29 | €180,000 | €180,000 | = | 0.0% |
| Other amounts receivable | 291 | €180,000 | €180,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €5,306 | €6,655 | +€1,348 | +25.4% |
| Other amounts receivable | 41 | €5,306 | €6,655 | +€1,348 | +25.4% |
| Current investments | 50/53 | €1,100,000 | €1,050,000 | -€50,000 | -4.5% |
| Cash at bank and in hand | 54/58 | €56,566 | €34,145 | -€22,421 | -39.6% |
| Deferred charges and accrued income | 490/1 | €93,741 | €59,695 | -€34,046 | -36.3% |
| Total equity and liabilities | 10/49 | €3,507,201 | €3,305,865 | -€201,336 | -5.7% |
| Equity | 10/15 | €1,551,781 | €1,434,018 | -€117,763 | -7.6% |
| Contributions | 10/11 | €1,500,000 | €1,500,000 | = | 0.0% |
| Reserves | 13 | €51,781 | €0 | -€51,781 | -100% |
| Distributable reserves | 133 | €51,781 | €0 | -€51,781 | -100% |
| Profit (loss) carried forward | 14 | - | -€65,982 | -€65,982 | |
| Amounts payable | 17/49 | €1,955,420 | €1,871,847 | -€83,573 | -4.3% |
| Amounts payable after more than one year | 17 | €1,653,269 | €1,550,400 | -€102,869 | -6.2% |
| Financial debts | 170/4 | €303,269 | €200,400 | -€102,869 | -33.9% |
| Other amounts payable | 178/9 | €1,350,000 | €1,350,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €302,151 | €321,447 | +€19,296 | +6.4% |
| Current portion of amounts payable after more than one year | 42 | €101,729 | €102,869 | +€1,140 | +1.1% |
| Trade debts | 44 | €3 | €4,029 | +€4,025 | +115,333% |
| Suppliers | 440/4 | €3 | €4,029 | +€4,025 | +115,333% |
| Other amounts payable | 47/48 | €200,419 | €214,549 | +€14,130 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,510 | €98,490 | +€980 | +1.0% |
| Other operating charges | 640/8 | €4,545 | €2,925 | -€1,620 | -35.6% |
| Gross operating margin | 9900 | -€32,352 | -€16,961 | +€15,391 | +47.6% |
| Operating profit (loss) | 9901 | -€134,406 | -€118,375 | +€16,031 | +11.9% |
| Financial income | 75/76B | €108,437 | €44,682 | -€63,755 | -58.8% |
| Recurring financial income | 75 | €108,437 | €44,682 | -€63,755 | -58.8% |
| Financial charges | 65/66B | €5,352 | €44,070 | +€38,717 | +723% |
| Recurring financial charges | 65 | €5,352 | €44,070 | +€38,717 | +723% |
| Profit (loss) for the period before taxes | 9903 | -€31,321 | -€117,763 | -€86,441 | -276% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€31,321 | -€117,763 | -€86,441 | -276% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,321 | -€117,763 | -€86,441 | -276% |
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 26 October 2026 via checked.be.