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
- Receivables within one year -€79,024
down €79,024 (-80.4%), from €98,270 to €19,246
of which Other amounts receivable: -€82,249
- Cash +€75,378
up €75,378 (+1182.0%), from €6,377 to €81,755
mainly Receivables within one year (+€79,024) and Depreciation (+€48,956)
- Tangible fixed assets -€46,868
down €46,868 (-11.2%), from €417,572 to €370,704
of which Furniture and vehicles: -€41,505
- Deferred charges and accrued income -€6,525
down €6,525 (-61.2%), from €10,669 to €4,144
- Profit (loss) carried forward -€37,864
down €37,864 (-31.4%), from €120,452 to €82,587
- Trade debts -€15,922
down €15,922 (-84.7%), from €18,792 to €2,870
- Other debts +€12,137
up €12,137 (+3.4%), from €360,345 to €372,482
- Tax, wage and social debts -€10,425
down €10,425 (-56.9%), from €18,335 to €7,910
- Depreciation +€25,709
up €25,709 (+110.6%), from €23,247 to €48,956
- Gross operating margin -€23,408
down €23,408 (-65.1%), from €35,948 to €12,540
- Taxes -€2,796
no longer reported in 2025 (was €2,796)
- Other operating charges +€1,118
new in 2025: €1,118
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 | €532,889 | €475,849 | -€57,039 | -10.7% |
| Fixed assets | 21/28 | €417,572 | €370,704 | -€46,868 | -11.2% |
| Tangible fixed assets | 22/27 | €417,572 | €370,704 | -€46,868 | -11.2% |
| Plant, machinery and equipment | 23 | €22,970 | €17,607 | -€5,363 | -23.3% |
| Furniture and vehicles | 24 | €394,602 | €353,097 | -€41,505 | -10.5% |
| Current assets | 29/58 | €115,317 | €105,145 | -€10,171 | -8.8% |
| Amounts receivable within one year | 40/41 | €98,270 | €19,246 | -€79,024 | -80.4% |
| Trade receivables | 40 | €16,022 | €19,246 | +€3,224 | +20.1% |
| Other amounts receivable | 41 | €82,249 | - | -€82,249 | |
| Cash at bank and in hand | 54/58 | €6,377 | €81,755 | +€75,378 | +1182.0% |
| Deferred charges and accrued income | 490/1 | €10,669 | €4,144 | -€6,525 | -61.2% |
| Total equity and liabilities | 10/49 | €532,889 | €475,849 | -€57,039 | -10.7% |
| Equity | 10/15 | €130,452 | €92,587 | -€37,864 | -29.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €120,452 | €82,587 | -€37,864 | -31.4% |
| Amounts payable | 17/49 | €402,437 | €383,262 | -€19,175 | -4.8% |
| Amounts payable within one year | 42/48 | €402,437 | €383,262 | -€19,175 | -4.8% |
| Trade debts | 44 | €18,792 | €2,870 | -€15,922 | -84.7% |
| Suppliers | 440/4 | €18,792 | €2,870 | -€15,922 | -84.7% |
| Advances received on contracts in progress | 46 | €4,965 | - | -€4,965 | |
| Taxes, remuneration and social security | 45 | €18,335 | €7,910 | -€10,425 | -56.9% |
| Taxes | 450/3 | €18,335 | €7,910 | -€10,425 | -56.9% |
| Other amounts payable | 47/48 | €360,345 | €372,482 | +€12,137 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,247 | €48,956 | +€25,709 | +110.6% |
| Other operating charges | 640/8 | - | €1,118 | +€1,118 | |
| Gross operating margin | 9900 | €35,948 | €12,540 | -€23,408 | -65.1% |
| Operating profit (loss) | 9901 | €12,701 | -€37,534 | -€50,235 | |
| Financial income | 75/76B | €0 | €27 | +€27 | +133050.0% |
| Recurring financial income | 75 | €0 | €27 | +€27 | +133050.0% |
| Financial charges | 65/66B | €248 | €357 | +€109 | +43.8% |
| Recurring financial charges | 65 | €248 | €357 | +€109 | +43.8% |
| Profit (loss) for the period before taxes | 9903 | €12,453 | -€37,864 | -€50,317 | |
| Income taxes | 67/77 | €2,796 | - | -€2,796 | |
| Profit (loss) for the period | 9904 | €9,657 | -€37,864 | -€47,522 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,657 | -€37,864 | -€47,522 |
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 8 October 2026 via checked.be.