O2C: 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.
O2C
Largest movements
- Tangible fixed assets -€43,796
down €43,796 (-11.3%), from €388,058 to €344,262
of which Land and buildings: -€41,621
- Receivables within one year -€35,576
down €35,576 (-97.3%), from €36,556 to €980
of which Trade receivables: -€28,209
- Cash -€4,434
down €4,434 (-35.5%), from €12,484 to €8,050
mainly Net result for the year (-€130,158) and Debts after one year (-€40,000)
- Profit (loss) carried forward -€130,158
down €130,158 (-372%), from -€34,987 to -€165,145
- Other debts +€84,648
up €84,648 (+62.9%), from €134,683 to €219,331
- Debts after one year -€40,000
down €40,000 (-25.8%), from €154,999 to €114,999
- Trade debts +€7,536
up €7,536 (+68.6%), from €10,985 to €18,522
- Gross operating margin -€157,778
down €157,778 (-89.4%), from €176,403 to €18,625
- Staff costs -€11,718
down €11,718 (-12.5%), from €93,817 to €82,099
- Depreciation -€3,229
down €3,229 (-5.2%), from €61,709 to €58,480
- Financial charges -€2,011
down €2,011 (-21.8%), from €9,245 to €7,233
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 | €439,667 | €356,242 | -€83,425 | -19.0% |
| Fixed assets | 21/28 | €388,118 | €344,322 | -€43,796 | -11.3% |
| Tangible fixed assets | 22/27 | €388,058 | €344,262 | -€43,796 | -11.3% |
| Land and buildings | 22 | €378,194 | €336,573 | -€41,621 | -11.0% |
| Plant, machinery and equipment | 23 | €6,947 | €3,902 | -€3,045 | -43.8% |
| Furniture and vehicles | 24 | €2,917 | €3,787 | +€869 | +29.8% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €51,549 | €11,921 | -€39,629 | -76.9% |
| Amounts receivable within one year | 40/41 | €36,556 | €980 | -€35,576 | -97.3% |
| Trade receivables | 40 | €29,084 | €875 | -€28,209 | -97.0% |
| Other amounts receivable | 41 | €7,472 | €105 | -€7,367 | -98.6% |
| Cash at bank and in hand | 54/58 | €12,484 | €8,050 | -€4,434 | -35.5% |
| Deferred charges and accrued income | 490/1 | €2,509 | €2,890 | +€381 | +15.2% |
| Total equity and liabilities | 10/49 | €439,667 | €356,242 | -€83,425 | -19.0% |
| Equity | 10/15 | €86,849 | -€44,520 | -€131,369 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €91,130 | €91,130 | = | 0.0% |
| Tax-exempt reserves | 132 | €31,000 | €31,000 | = | 0.0% |
| Distributable reserves | 133 | €60,130 | €60,130 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,987 | -€165,145 | -€130,158 | -372% |
| Investment grants | 15 | €12,106 | €10,895 | -€1,211 | -10.0% |
| Amounts payable | 17/49 | €352,818 | €400,762 | +€47,944 | +13.6% |
| Amounts payable after more than one year | 17 | €154,999 | €114,999 | -€40,000 | -25.8% |
| Financial debts | 170/4 | €154,999 | €114,999 | -€40,000 | -25.8% |
| Amounts payable within one year | 42/48 | €197,819 | €285,763 | +€87,944 | +44.5% |
| Current portion of amounts payable after more than one year | 42 | €40,000 | €40,000 | = | 0.0% |
| Trade debts | 44 | €10,985 | €18,522 | +€7,536 | +68.6% |
| Suppliers | 440/4 | €10,985 | €18,522 | +€7,536 | +68.6% |
| Taxes, remuneration and social security | 45 | €12,151 | €7,910 | -€4,241 | -34.9% |
| Taxes | 450/3 | €5,402 | €7,910 | +€2,509 | +46.4% |
| Remuneration and social security | 454/9 | €6,749 | - | -€6,749 | |
| Other amounts payable | 47/48 | €134,683 | €219,331 | +€84,648 | +62.9% |
| Remuneration, social security and pensions | 62 | €93,817 | €82,099 | -€11,718 | -12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,709 | €58,480 | -€3,229 | -5.2% |
| Other operating charges | 640/8 | €237 | €1,900 | +€1,662 | +700% |
| Gross operating margin | 9900 | €176,403 | €18,625 | -€157,778 | -89.4% |
| Operating profit (loss) | 9901 | €20,640 | -€123,854 | -€144,493 | |
| Financial income | 75/76B | €1,212 | €1,264 | +€51 | +4.2% |
| Recurring financial income | 75 | €1,212 | €1,264 | +€51 | +4.2% |
| Non-recurring financial income | 76B | - | €0 | +€0 | |
| Financial charges | 65/66B | €9,245 | €7,233 | -€2,011 | -21.8% |
| Recurring financial charges | 65 | €9,245 | €7,233 | -€2,011 | -21.8% |
| Profit (loss) for the period before taxes | 9903 | €12,607 | -€129,824 | -€142,431 | |
| Income taxes | 67/77 | - | €335 | +€335 | |
| Profit (loss) for the period | 9904 | €12,607 | -€130,158 | -€142,765 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,607 | -€130,158 | -€142,765 |
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 16 October 2026 via checked.be.