OCAK: 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.
OCAK
Largest movements
- Receivables within one year +€97,750
up €97,750 (+61.6%), from €158,575 to €256,324
of which Trade receivables: +€98,231
- Receivables after one year -€30,000
down €30,000 (-12.0%), from €249,500 to €219,500
- Tangible fixed assets -€27,396
down €27,396 (-2.9%), from €947,872 to €920,476
of which Land and buildings: -€18,939
- Trade debts +€61,830
up €61,830 (+39.3%), from €157,526 to €219,355
- Debts after one year -€37,866
down €37,866 (-5.5%), from €688,697 to €650,832
- Reserves +€33,800
up €33,800 (+7.6%), from €445,321 to €479,121
of which Distributable reserves: +€35,066
- Tax, wage and social debts -€20,307
down €20,307 (-10.0%), from €203,474 to €183,167
of which Taxes: -€11,520
- Gross operating margin +€270,465
up €270,465 (+31.8%), from €849,544 to €1.1m
- Staff costs +€239,997
up €239,997 (+34.0%), from €705,901 to €945,897
- Other operating charges -€64,126
down €64,126 (-90.7%), from €70,664 to €6,538
- Financial charges +€24,087
up €24,087 (+34.4%), from €70,109 to €94,196
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 | €1,578,154 | €1,615,976 | +€37,822 | +2.4% |
| Fixed assets | 21/28 | €954,187 | €924,640 | -€29,546 | -3.1% |
| Intangible fixed assets | 21 | €6,315 | €4,165 | -€2,150 | -34.0% |
| Tangible fixed assets | 22/27 | €947,872 | €920,476 | -€27,396 | -2.9% |
| Land and buildings | 22 | €915,734 | €896,795 | -€18,939 | -2.1% |
| Plant, machinery and equipment | 23 | €6,737 | €6,271 | -€467 | -6.9% |
| Furniture and vehicles | 24 | €25,401 | €17,410 | -€7,990 | -31.5% |
| Current assets | 29/58 | €623,967 | €691,336 | +€67,368 | +10.8% |
| Amounts receivable after more than one year | 29 | €249,500 | €219,500 | -€30,000 | -12.0% |
| Other amounts receivable | 291 | €249,500 | €219,500 | -€30,000 | -12.0% |
| Stocks and contracts in progress | 3 | €73,328 | €71,520 | -€1,809 | -2.5% |
| Stocks | 30/36 | €73,328 | €71,520 | -€1,809 | -2.5% |
| Amounts receivable within one year | 40/41 | €158,575 | €256,324 | +€97,750 | +61.6% |
| Trade receivables | 40 | €95,681 | €193,913 | +€98,231 | +102.7% |
| Other amounts receivable | 41 | €62,893 | €62,411 | -€482 | -0.8% |
| Cash at bank and in hand | 54/58 | €133,304 | €137,105 | +€3,800 | +2.9% |
| Deferred charges and accrued income | 490/1 | €9,260 | €6,887 | -€2,373 | -25.6% |
| Total equity and liabilities | 10/49 | €1,578,154 | €1,615,976 | +€37,822 | +2.4% |
| Equity | 10/15 | €451,521 | €485,321 | +€33,800 | +7.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €445,321 | €479,121 | +€33,800 | +7.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €38,029 | €36,763 | -€1,267 | -3.3% |
| Distributable reserves | 133 | €407,292 | €442,358 | +€35,066 | +8.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €19,582 | €18,929 | -€653 | -3.3% |
| Deferred taxes | 168 | €19,582 | €18,929 | -€653 | -3.3% |
| Amounts payable | 17/49 | €1,107,051 | €1,111,726 | +€4,675 | +0.4% |
| Amounts payable after more than one year | 17 | €688,697 | €650,832 | -€37,866 | -5.5% |
| Financial debts | 170/4 | €688,697 | €650,832 | -€37,866 | -5.5% |
| Amounts payable within one year | 42/48 | €418,354 | €460,895 | +€42,541 | +10.2% |
| Current portion of amounts payable after more than one year | 42 | €37,109 | €38,140 | +€1,031 | +2.8% |
| Financial debts | 43 | €20,246 | €20,233 | -€12 | -0.1% |
| Credit institutions | 430/8 | €20,246 | €20,233 | -€12 | -0.1% |
| Trade debts | 44 | €157,526 | €219,355 | +€61,830 | +39.3% |
| Suppliers | 440/4 | €157,526 | €219,355 | +€61,830 | +39.3% |
| Taxes, remuneration and social security | 45 | €203,474 | €183,167 | -€20,307 | -10.0% |
| Taxes | 450/3 | €27,733 | €16,213 | -€11,520 | -41.5% |
| Remuneration and social security | 454/9 | €175,741 | €166,954 | -€8,787 | -5.0% |
| Remuneration, social security and pensions | 62 | €705,901 | €945,897 | +€239,997 | +34.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,076 | €36,731 | +€4,655 | +14.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €70,664 | €6,538 | -€64,126 | -90.7% |
| Non-recurring operating charges | 66A | €121,475 | €0 | -€121,475 | -100.0% |
| Gross operating margin | 9900 | €849,544 | €1,120,008 | +€270,465 | +31.8% |
| Operating profit (loss) | 9901 | -€80,572 | €130,842 | +€211,415 | |
| Financial income | 75/76B | €95 | €139 | +€44 | +46.8% |
| Recurring financial income | 75 | €95 | €139 | +€44 | +46.8% |
| Financial charges | 65/66B | €70,109 | €94,196 | +€24,087 | +34.4% |
| Recurring financial charges | 65 | €70,109 | €94,196 | +€24,087 | +34.4% |
| Profit (loss) for the period before taxes | 9903 | -€150,586 | €36,786 | +€187,372 | |
| Transfer from deferred taxes | 780 | €653 | €653 | = | 0.0% |
| Income taxes | 67/77 | €128 | €3,639 | +€3,511 | +2742.7% |
| Profit (loss) for the period | 9904 | -€150,061 | €33,800 | +€183,861 | |
| Transfer from tax-exempt reserves | 789 | €1,267 | €1,267 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€148,795 | €35,066 | +€183,861 |
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 2 October 2026 via checked.be.