OAO: 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.
OAO
Largest movements
- Cash +€261,913
up €261,913 (+1236.2%), from €21,187 to €283,100
mainly Current investments (+€200,000) and Net result for the year (+€146,962)
- Current investments -€200,000
down €200,000 (-66.7%), from €300,000 to €100,000
- Receivables within one year +€51,645
up €51,645 (+26153.1%), from €197 to €51,842
of which Other amounts receivable: +€51,500
- Reserves +€105,072
up €105,072 (+18.3%), from €574,219 to €679,290
- Tax, wage and social debts +€18,253
up €18,253 (+132.2%), from €13,805 to €32,057
- Gross operating margin +€31,500
up €31,500 (+66.1%), from €47,648 to €79,148
- Taxes +€9,649
up €9,649 (+37.4%), from €25,790 to €35,440
- Financial income -€1,742
down €1,742 (-1.6%), from €108,545 to €106,803
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 | €1,524,010 | €1,638,051 | +€114,042 | +7.5% |
| Fixed assets | 21/28 | €1,202,236 | €1,201,166 | -€1,071 | -0.1% |
| Tangible fixed assets | 22/27 | €2,236 | €1,166 | -€1,071 | -47.9% |
| Furniture and vehicles | 24 | €1,749 | €1,166 | -€584 | -33.4% |
| Other tangible fixed assets | 26 | €487 | €0 | -€487 | -100.0% |
| Financial fixed assets | 28 | €1,200,000 | €1,200,000 | = | 0.0% |
| Current assets | 29/58 | €321,773 | €436,885 | +€115,112 | +35.8% |
| Amounts receivable within one year | 40/41 | €197 | €51,842 | +€51,645 | +26153.1% |
| Trade receivables | 40 | €197 | €342 | +€145 | +73.2% |
| Other amounts receivable | 41 | - | €51,500 | +€51,500 | |
| Current investments | 50/53 | €300,000 | €100,000 | -€200,000 | -66.7% |
| Cash at bank and in hand | 54/58 | €21,187 | €283,100 | +€261,913 | +1236.2% |
| Deferred charges and accrued income | 490/1 | €389 | €1,943 | +€1,554 | +399.9% |
| Total equity and liabilities | 10/49 | €1,524,010 | €1,638,051 | +€114,042 | +7.5% |
| Equity | 10/15 | €1,474,969 | €1,580,040 | +€105,072 | +7.1% |
| Contributions | 10/11 | €900,750 | €900,750 | = | 0.0% |
| Reserves | 13 | €574,219 | €679,290 | +€105,072 | +18.3% |
| Distributable reserves | 133 | €574,219 | €679,290 | +€105,072 | +18.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €49,041 | €58,011 | +€8,970 | +18.3% |
| Amounts payable within one year | 42/48 | €48,634 | €57,942 | +€9,308 | +19.1% |
| Trade debts | 44 | €330 | €1,107 | +€777 | +235.8% |
| Suppliers | 440/4 | €330 | €1,107 | +€777 | +235.8% |
| Taxes, remuneration and social security | 45 | €13,805 | €32,057 | +€18,253 | +132.2% |
| Taxes | 450/3 | €13,805 | €32,057 | +€18,253 | +132.2% |
| Other amounts payable | 47/48 | €34,499 | €24,777 | -€9,722 | -28.2% |
| Accrued charges and deferred income | 492/3 | €407 | €69 | -€338 | -83.0% |
| Non-recurring operating income | 76A | - | €310 | +€310 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,664 | €1,071 | -€593 | -35.7% |
| Other operating charges | 640/8 | €548 | €213 | -€334 | -61.0% |
| Gross operating margin | 9900 | €47,648 | €79,148 | +€31,500 | +66.1% |
| Operating profit (loss) | 9901 | €45,436 | €77,864 | +€32,428 | +71.4% |
| Financial income | 75/76B | €108,545 | €106,803 | -€1,742 | -1.6% |
| Recurring financial income | 75 | €108,545 | €106,803 | -€1,742 | -1.6% |
| Financial charges | 65/66B | €2,731 | €2,265 | -€467 | -17.1% |
| Recurring financial charges | 65 | €2,731 | €2,265 | -€467 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | €151,250 | €182,402 | +€31,153 | +20.6% |
| Income taxes | 67/77 | €25,790 | €35,440 | +€9,649 | +37.4% |
| Profit (loss) for the period | 9904 | €125,459 | €146,962 | +€21,503 | +17.1% |
| Profit (loss) for the period to be appropriated | 9905 | €125,459 | €146,962 | +€21,503 | +17.1% |
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 7 October 2026 via checked.be.