O.V.M.: 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.V.M.
Largest movements
- Cash +€8,377
up €8,377 (+15.3%), from €54,827 to €63,204
mainly Depreciation (+€40,302) and Net result for the year (+€16,801)
- Receivables within one year -€4,710
down €4,710 (-15.0%), from €31,393 to €26,683
of which Other amounts receivable: -€5,615
- Tangible fixed assets -€3,350
down €3,350 (-3.2%), from €105,773 to €102,423
of which Leasing and similar rights: -€26,733
- Deferred charges and accrued income +€2,934
up €2,934 (+84.2%), from €3,484 to €6,418
- Debts after one year -€21,197
down €21,197 (-19.1%), from €111,181 to €89,984
of which Financial debts: -€21,197
- Reserves +€16,801
up €16,801 (+48.9%), from €34,335 to €51,135
- Trade debts +€4,085
up €4,085 (+329%), from €1,240 to €5,325
- Other debts +€2,687
up €2,687 (+30.7%), from €8,745 to €11,432
- Other operating charges -€8,273
down €8,273 (-43.9%), from €18,844 to €10,571
- Depreciation +€5,001
up €5,001 (+14.2%), from €35,301 to €40,302
- Gross operating margin -€4,522
down €4,522 (-5.3%), from €85,299 to €80,777
- Taxes +€2,201
up €2,201 (+31.7%), from €6,938 to €9,139
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 | €195,478 | €198,728 | +€3,251 | +1.7% |
| Fixed assets | 21/28 | €105,773 | €102,423 | -€3,350 | -3.2% |
| Tangible fixed assets | 22/27 | €105,773 | €102,423 | -€3,350 | -3.2% |
| Plant, machinery and equipment | 23 | €16,489 | €16,110 | -€380 | -2.3% |
| Furniture and vehicles | 24 | €4,499 | €28,262 | +€23,763 | +528% |
| Leasing and similar rights | 25 | €84,785 | €58,051 | -€26,733 | -31.5% |
| Current assets | 29/58 | €89,704 | €96,305 | +€6,601 | +7.4% |
| Amounts receivable within one year | 40/41 | €31,393 | €26,683 | -€4,710 | -15.0% |
| Trade receivables | 40 | €19,562 | €20,467 | +€905 | +4.6% |
| Other amounts receivable | 41 | €11,831 | €6,216 | -€5,615 | -47.5% |
| Cash at bank and in hand | 54/58 | €54,827 | €63,204 | +€8,377 | +15.3% |
| Deferred charges and accrued income | 490/1 | €3,484 | €6,418 | +€2,934 | +84.2% |
| Total equity and liabilities | 10/49 | €195,478 | €198,728 | +€3,251 | +1.7% |
| Equity | 10/15 | €46,835 | €63,635 | +€16,801 | +35.9% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €34,335 | €51,135 | +€16,801 | +48.9% |
| Distributable reserves | 133 | €34,335 | €51,135 | +€16,801 | +48.9% |
| Amounts payable | 17/49 | €148,643 | €135,093 | -€13,550 | -9.1% |
| Amounts payable after more than one year | 17 | €111,181 | €89,984 | -€21,197 | -19.1% |
| Financial debts | 170/4 | €51,181 | €29,984 | -€21,197 | -41.4% |
| Other amounts payable | 178/9 | €60,000 | €60,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €35,062 | €42,709 | +€7,647 | +21.8% |
| Current portion of amounts payable after more than one year | 42 | €20,524 | €21,197 | +€673 | +3.3% |
| Financial debts | 43 | €997 | €671 | -€326 | -32.7% |
| Other loans | 439 | €997 | €671 | -€326 | -32.7% |
| Trade debts | 44 | €1,240 | €5,325 | +€4,085 | +329% |
| Suppliers | 440/4 | €1,240 | €5,325 | +€4,085 | +329% |
| Taxes, remuneration and social security | 45 | €3,557 | €4,085 | +€528 | +14.8% |
| Taxes | 450/3 | €3,557 | €4,085 | +€528 | +14.8% |
| Other amounts payable | 47/48 | €8,745 | €11,432 | +€2,687 | +30.7% |
| Accrued charges and deferred income | 492/3 | €2,400 | €2,400 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,301 | €40,302 | +€5,001 | +14.2% |
| Other operating charges | 640/8 | €18,844 | €10,571 | -€8,273 | -43.9% |
| Non-recurring operating charges | 66A | €829 | €236 | -€593 | -71.5% |
| Gross operating margin | 9900 | €85,299 | €80,777 | -€4,522 | -5.3% |
| Operating profit (loss) | 9901 | €30,325 | €29,668 | -€658 | -2.2% |
| Financial income | 75/76B | €585 | €747 | +€162 | +27.7% |
| Recurring financial income | 75 | €585 | €747 | +€162 | +27.7% |
| Financial charges | 65/66B | €5,115 | €4,475 | -€640 | -12.5% |
| Recurring financial charges | 65 | €5,115 | €4,475 | -€640 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | €25,795 | €25,939 | +€145 | +0.6% |
| Income taxes | 67/77 | €6,938 | €9,139 | +€2,201 | +31.7% |
| Profit (loss) for the period | 9904 | €18,857 | €16,801 | -€2,056 | -10.9% |
| Profit (loss) for the period to be appropriated | 9905 | €18,857 | €16,801 | -€2,056 | -10.9% |
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 27 October 2026 via checked.be.