O2: 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.
O2
Largest movements
- Cash +€45,670
up €45,670 (+72.7%), from €62,805 to €108,475
mainly Net result for the year (+€86,257) and Other debts (+€45,784)
- Receivables within one year +€6,155
up €6,155 (+20.3%), from €30,250 to €36,405
of which Trade receivables: +€18,139
- Tangible fixed assets -€1,932
down €1,932 (-33.2%), from €5,814 to €3,882
- Other debts +€45,784
up €45,784 (+88.6%), from €51,660 to €97,445
- Tax, wage and social debts +€19,688
up €19,688 (+168.8%), from €11,661 to €31,350
- Profit (loss) carried forward -€14,222
no longer reported in 2025 (was €14,222)
- Gross operating margin +€53,768
up €53,768 (+80.6%), from €66,677 to €120,445
- Taxes +€13,952
up €13,952 (+82.0%), from €17,021 to €30,972
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €99,453 | €149,378 | +€49,925 | +50.2% |
| Fixed assets | 21/28 | €5,814 | €3,882 | -€1,932 | -33.2% |
| Tangible fixed assets | 22/27 | €5,814 | €3,882 | -€1,932 | -33.2% |
| Furniture and vehicles | 24 | €5,814 | €3,882 | -€1,932 | -33.2% |
| Current assets | 29/58 | €93,639 | €145,496 | +€51,856 | +55.4% |
| Amounts receivable within one year | 40/41 | €30,250 | €36,405 | +€6,155 | +20.3% |
| Trade receivables | 40 | €14,755 | €32,894 | +€18,139 | +122.9% |
| Other amounts receivable | 41 | €15,495 | €3,512 | -€11,983 | -77.3% |
| Cash at bank and in hand | 54/58 | €62,805 | €108,475 | +€45,670 | +72.7% |
| Deferred charges and accrued income | 490/1 | €584 | €615 | +€31 | +5.3% |
| Total equity and liabilities | 10/49 | €99,453 | €149,378 | +€49,925 | +50.2% |
| Equity | 10/15 | €34,682 | €20,460 | -€14,222 | -41.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,222 | - | -€14,222 | |
| Amounts payable | 17/49 | €64,772 | €128,918 | +€64,146 | +99.0% |
| Amounts payable within one year | 42/48 | €64,772 | €128,918 | +€64,146 | +99.0% |
| Trade debts | 44 | €1,450 | €124 | -€1,326 | -91.5% |
| Suppliers | 440/4 | €1,450 | €124 | -€1,326 | -91.5% |
| Taxes, remuneration and social security | 45 | €11,661 | €31,350 | +€19,688 | +168.8% |
| Taxes | 450/3 | €11,661 | €31,350 | +€19,688 | +168.8% |
| Other amounts payable | 47/48 | €51,660 | €97,445 | +€45,784 | +88.6% |
| Remuneration, social security and pensions | 62 | €306 | €162 | -€144 | -47.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,693 | €1,932 | +€238 | +14.1% |
| Other operating charges | 640/8 | €983 | €1,036 | +€53 | +5.4% |
| Gross operating margin | 9900 | €66,677 | €120,445 | +€53,768 | +80.6% |
| Operating profit (loss) | 9901 | €63,694 | €117,315 | +€53,620 | +84.2% |
| Financial charges | 65/66B | €59 | €85 | +€27 | +46.0% |
| Recurring financial charges | 65 | €59 | €85 | +€27 | +46.0% |
| Profit (loss) for the period before taxes | 9903 | €63,636 | €117,229 | +€53,593 | +84.2% |
| Income taxes | 67/77 | €17,021 | €30,972 | +€13,952 | +82.0% |
| Profit (loss) for the period | 9904 | €46,615 | €86,257 | +€39,642 | +85.0% |
| Profit (loss) for the period to be appropriated | 9905 | €46,615 | €86,257 | +€39,642 | +85.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.