O3 LAND: 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.
O3 LAND
Largest movements
- Financial fixed assets +€4.5m
up €4.5m (+120%), from €3.8m to €8.3m
- Receivables after one year +€1.4m
up €1.4m (+32.0%), from €4.3m to €5.6m
- Receivables within one year +€795,964
up €795,964 (+758%), from €105,000 to €900,964
of which Other amounts receivable: +€795,000
- Cash -€277,592
down €277,592 (-68.5%), from €405,536 to €127,944
mainly Investment in fixed assets (net) (-€4.5m) and Short-term financial debts (-€3.2m)
- Debts after one year +€6.4m
up €6.4m (+48.1%), from €13.3m to €19.7m
- Short-term financial debts -€3.2m
down €3.2m (-65.2%), from €4.9m to €1.7m
- Contributions +€1.5m
up €1.5m (+63.6%), from €2.4m to €3.9m
- Profit (loss) carried forward +€561,069
up €561,069 (+18.1%), from -€3.1m to -€2.5m
- Accrued charges and deferred income +€535,405
up €535,405 (+65.7%), from €814,546 to €1.3m
- Financial charges -€4.5m
down €4.5m (-84.4%), from €5.3m to €829,052
of which Non-recurring financial charges: -€4.7m
- Financial income +€1.0m
up €1.0m (+364%), from €283,945 to €1.3m
- Gross operating margin -€187,165
down €187,165 (-43.0%), from €435,431 to €248,266
- Other operating charges +€77,605
up €77,605 (+102%), from €75,767 to €153,373
- Taxes +€24,143
up €24,143, from -€542 to €23,601
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 | €18,415,646 | €24,901,474 | +€6.5m | +35.2% |
| Fixed assets | 21/28 | €3,763,681 | €8,263,681 | +€4.5m | +120% |
| Financial fixed assets | 28 | €3,763,681 | €8,263,681 | +€4.5m | +120% |
| Current assets | 29/58 | €14,651,965 | €16,637,793 | +€2.0m | +13.6% |
| Amounts receivable after more than one year | 29 | €4,261,505 | €5,626,502 | +€1.4m | +32.0% |
| Other amounts receivable | 291 | €4,261,505 | €5,626,502 | +€1.4m | +32.0% |
| Stocks and contracts in progress | 3 | €9,647,944 | €9,561,633 | -€86,311 | -0.9% |
| Stocks | 30/36 | €9,647,944 | €9,561,633 | -€86,311 | -0.9% |
| Amounts receivable within one year | 40/41 | €105,000 | €900,964 | +€795,964 | +758% |
| Trade receivables | 40 | - | €964 | +€964 | |
| Other amounts receivable | 41 | €105,000 | €900,000 | +€795,000 | +757% |
| Cash at bank and in hand | 54/58 | €405,536 | €127,944 | -€277,592 | -68.5% |
| Deferred charges and accrued income | 490/1 | €231,979 | €420,749 | +€188,770 | +81.4% |
| Total equity and liabilities | 10/49 | €18,415,646 | €24,901,474 | +€6.5m | +35.2% |
| Equity | 10/15 | -€737,273 | €1,323,796 | +€2.1m | |
| Contributions | 10/11 | €2,357,143 | €3,857,143 | +€1.5m | +63.6% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,104,416 | -€2,543,347 | +€561,069 | +18.1% |
| Amounts payable | 17/49 | €19,152,919 | €23,577,678 | +€4.4m | +23.1% |
| Amounts payable after more than one year | 17 | €13,334,575 | €19,743,958 | +€6.4m | +48.1% |
| Financial debts | 170/4 | €13,334,575 | €19,743,958 | +€6.4m | +48.1% |
| Amounts payable within one year | 42/48 | €5,003,797 | €2,483,768 | -€2.5m | -50.4% |
| Current portion of amounts payable after more than one year | 42 | €22,274 | €273,117 | +€250,843 | +1,126% |
| Financial debts | 43 | €4,878,067 | €1,696,341 | -€3.2m | -65.2% |
| Credit institutions | 430/8 | €4,878,067 | €1,696,341 | -€3.2m | -65.2% |
| Trade debts | 44 | €6,330 | €12,647 | +€6,317 | +99.8% |
| Suppliers | 440/4 | €6,330 | €12,647 | +€6,317 | +99.8% |
| Taxes, remuneration and social security | 45 | €95,919 | €1,664 | -€94,255 | -98.3% |
| Taxes | 450/3 | €95,919 | €1,664 | -€94,255 | -98.3% |
| Other amounts payable | 47/48 | €1,207 | €500,000 | +€498,793 | +41,326% |
| Accrued charges and deferred income | 492/3 | €814,546 | €1,349,951 | +€535,405 | +65.7% |
| Non-recurring operating income | 76A | €55,000 | - | -€55,000 | |
| Other operating charges | 640/8 | €75,767 | €153,373 | +€77,605 | +102% |
| Gross operating margin | 9900 | €435,431 | €248,266 | -€187,165 | -43.0% |
| Operating profit (loss) | 9901 | €359,664 | €94,893 | -€264,771 | -73.6% |
| Financial income | 75/76B | €283,945 | €1,318,828 | +€1.0m | +364% |
| Recurring financial income | 75 | €283,945 | €1,318,828 | +€1.0m | +364% |
| Financial charges | 65/66B | €5,301,184 | €829,052 | -€4.5m | -84.4% |
| Recurring financial charges | 65 | €558,895 | €829,052 | +€270,157 | +48.3% |
| Non-recurring financial charges | 66B | €4,742,289 | - | -€4.7m | |
| Profit (loss) for the period before taxes | 9903 | -€4,657,575 | €584,670 | +€5.2m | |
| Income taxes | 67/77 | -€542 | €23,601 | +€24,143 | |
| Profit (loss) for the period | 9904 | -€4,657,033 | €561,069 | +€5.2m | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,657,033 | €561,069 | +€5.2m |
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 1 November 2026 via checked.be.