O.S.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.
O.S.V.
Largest movements
- Tangible fixed assets -€49,505
down €49,505 (-20.7%), from €239,035 to €189,530
- Receivables within one year -€32,210
down €32,210 (-30.3%), from €106,315 to €74,105
of which Trade receivables: -€32,090
- Cash -€4,948
down €4,948 (-56.2%), from €8,804 to €3,856
mainly Debts after one year (-€39,842) and Other debts (-€15,061)
- Debts after one year -€39,842
down €39,842 (-37.2%), from €107,221 to €67,379
- Other debts -€15,061
down €15,061 (-29.6%), from €50,872 to €35,811
- Short-term financial debts -€12,393
down €12,393 (-45.2%), from €27,391 to €14,998
- Tax, wage and social debts -€10,650
down €10,650 (-27.0%), from €39,509 to €28,859
of which Remuneration and social security: -€9,354
- Reserves -€5,644
down €5,644 (-8.0%), from €70,840 to €65,196
- Gross operating margin -€62,262
down €62,262 (-21.6%), from €288,424 to €226,162
- Staff costs -€54,122
down €54,122 (-24.9%), from €217,363 to €163,241
- Financial charges -€7,109
down €7,109 (-31.7%), from €22,459 to €15,350
of which Non-recurring financial charges: -€8,239
- Other operating charges -€5,734
down €5,734 (-56.7%), from €10,107 to €4,373
- Taxes -€3,010
down €3,010, from €421 to -€2,589
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 | €364,075 | €281,718 | -€82,357 | -22.6% |
| Fixed assets | 21/28 | €240,935 | €191,430 | -€49,505 | -20.5% |
| Tangible fixed assets | 22/27 | €239,035 | €189,530 | -€49,505 | -20.7% |
| Land and buildings | 22 | €168,159 | €144,089 | -€24,070 | -14.3% |
| Plant, machinery and equipment | 23 | €11,500 | €7,196 | -€4,304 | -37.4% |
| Furniture and vehicles | 24 | €59,376 | €38,245 | -€21,131 | -35.6% |
| Financial fixed assets | 28 | €1,900 | €1,900 | = | 0.0% |
| Current assets | 29/58 | €123,140 | €90,288 | -€32,852 | -26.7% |
| Stocks and contracts in progress | 3 | €7,604 | €8,542 | +€938 | +12.3% |
| Stocks | 30/36 | €7,604 | €8,542 | +€938 | +12.3% |
| Amounts receivable within one year | 40/41 | €106,315 | €74,105 | -€32,210 | -30.3% |
| Trade receivables | 40 | €103,128 | €71,038 | -€32,090 | -31.1% |
| Other amounts receivable | 41 | €3,187 | €3,067 | -€120 | -3.8% |
| Cash at bank and in hand | 54/58 | €8,804 | €3,856 | -€4,948 | -56.2% |
| Deferred charges and accrued income | 490/1 | €417 | €3,785 | +€3,368 | +808% |
| Total equity and liabilities | 10/49 | €364,075 | €281,718 | -€82,357 | -22.6% |
| Equity | 10/15 | €80,591 | €74,947 | -€5,644 | -7.0% |
| Contributions | 10/11 | €9,751 | €9,751 | = | 0.0% |
| Reserves | 13 | €70,840 | €65,196 | -€5,644 | -8.0% |
| Distributable reserves | 133 | €70,840 | €65,196 | -€5,644 | -8.0% |
| Amounts payable | 17/49 | €283,484 | €206,771 | -€76,713 | -27.1% |
| Amounts payable after more than one year | 17 | €107,221 | €67,379 | -€39,842 | -37.2% |
| Financial debts | 170/4 | €107,221 | €67,379 | -€39,842 | -37.2% |
| Amounts payable within one year | 42/48 | €167,672 | €133,925 | -€33,747 | -20.1% |
| Current portion of amounts payable after more than one year | 42 | €33,474 | €33,661 | +€187 | +0.6% |
| Financial debts | 43 | €27,391 | €14,998 | -€12,393 | -45.2% |
| Credit institutions | 430/8 | €27,391 | €14,998 | -€12,393 | -45.2% |
| Trade debts | 44 | €16,426 | €20,596 | +€4,170 | +25.4% |
| Suppliers | 440/4 | €16,426 | €20,596 | +€4,170 | +25.4% |
| Taxes, remuneration and social security | 45 | €39,509 | €28,859 | -€10,650 | -27.0% |
| Taxes | 450/3 | €1,304 | €8 | -€1,296 | -99.4% |
| Remuneration and social security | 454/9 | €38,205 | €28,851 | -€9,354 | -24.5% |
| Other amounts payable | 47/48 | €50,872 | €35,811 | -€15,061 | -29.6% |
| Accrued charges and deferred income | 492/3 | €8,591 | €5,467 | -€3,124 | -36.4% |
| Non-recurring operating income | 76A | €14,580 | - | -€14,580 | |
| Remuneration, social security and pensions | 62 | €217,363 | €163,241 | -€54,122 | -24.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,178 | €53,761 | +€2,583 | +5.0% |
| Other operating charges | 640/8 | €10,107 | €4,373 | -€5,734 | -56.7% |
| Gross operating margin | 9900 | €288,424 | €226,162 | -€62,262 | -21.6% |
| Operating profit (loss) | 9901 | €9,776 | €4,787 | -€4,989 | -51.0% |
| Financial income | 75/76B | €21 | €2,330 | +€2,309 | +10,995% |
| Recurring financial income | 75 | €21 | €29 | +€8 | +38.1% |
| Non-recurring financial income | 76B | - | €2,301 | +€2,301 | |
| Financial charges | 65/66B | €22,459 | €15,350 | -€7,109 | -31.7% |
| Recurring financial charges | 65 | €7,009 | €8,139 | +€1,130 | +16.1% |
| Non-recurring financial charges | 66B | €15,450 | €7,211 | -€8,239 | -53.3% |
| Profit (loss) for the period before taxes | 9903 | -€12,662 | -€8,233 | +€4,429 | +35.0% |
| Income taxes | 67/77 | €421 | -€2,589 | -€3,010 | |
| Profit (loss) for the period | 9904 | -€13,083 | -€5,644 | +€7,439 | +56.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,083 | -€5,644 | +€7,439 | +56.9% |
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 20 October 2026 via checked.be.