Ode: 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.
Ode
Largest movements
- Cash +€26,025
up €26,025 (+531%), from €4,898 to €30,923
mainly Net result for the year (+€15,802) and Depreciation (+€8,940)
- Debts after one year -€15,965
down €15,965 (-6.1%), from €263,384 to €247,419
- Reserves +€15,802
up €15,802 (+51.1%), from €30,953 to €46,755
- Depreciation -€32,667
down €32,667 (-78.5%), from €41,606 to €8,940
- Financial charges -€18,034
down €18,034 (-65.4%), from €27,564 to €9,530
- Gross operating margin -€6,320
down €6,320 (-13.8%), from €45,936 to €39,616
- Taxes +€2,856
up €2,856 (+2,196%), from €130 to €2,986
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 | €1,277,003 | €1,281,413 | +€4,410 | +0.3% |
| Fixed assets | 21/28 | €1,254,774 | €1,245,834 | -€8,940 | -0.7% |
| Tangible fixed assets | 22/27 | €254,774 | €245,834 | -€8,940 | -3.5% |
| Land and buildings | 22 | €253,507 | €244,868 | -€8,640 | -3.4% |
| Furniture and vehicles | 24 | €1,266 | €966 | -€300 | -23.7% |
| Financial fixed assets | 28 | €1,000,000 | €1,000,000 | = | 0.0% |
| Current assets | 29/58 | €22,229 | €35,579 | +€13,350 | +60.1% |
| Amounts receivable within one year | 40/41 | €13,078 | €4,395 | -€8,683 | -66.4% |
| Trade receivables | 40 | €12,705 | €3,000 | -€9,705 | -76.4% |
| Other amounts receivable | 41 | €373 | €1,395 | +€1,022 | +274% |
| Cash at bank and in hand | 54/58 | €4,898 | €30,923 | +€26,025 | +531% |
| Deferred charges and accrued income | 490/1 | €4,253 | €262 | -€3,992 | -93.8% |
| Total equity and liabilities | 10/49 | €1,277,003 | €1,281,413 | +€4,410 | +0.3% |
| Equity | 10/15 | €730,953 | €746,755 | +€15,802 | +2.2% |
| Contributions | 10/11 | €700,000 | €700,000 | = | 0.0% |
| Reserves | 13 | €30,953 | €46,755 | +€15,802 | +51.1% |
| Distributable reserves | 133 | €30,953 | €46,755 | +€15,802 | +51.1% |
| Amounts payable | 17/49 | €546,050 | €534,658 | -€11,392 | -2.1% |
| Amounts payable after more than one year | 17 | €263,384 | €247,419 | -€15,965 | -6.1% |
| Financial debts | 170/4 | €263,384 | €247,419 | -€15,965 | -6.1% |
| Amounts payable within one year | 42/48 | €242,887 | €247,460 | +€4,573 | +1.9% |
| Current portion of amounts payable after more than one year | 42 | €15,425 | €15,965 | +€540 | +3.5% |
| Trade debts | 44 | €1,945 | €5,212 | +€3,266 | +168% |
| Suppliers | 440/4 | €1,945 | €5,212 | +€3,266 | +168% |
| Taxes, remuneration and social security | 45 | €5,793 | €6,590 | +€797 | +13.8% |
| Taxes | 450/3 | €5,793 | €6,590 | +€797 | +13.8% |
| Other amounts payable | 47/48 | €219,724 | €219,694 | -€30 | 0.0% |
| Accrued charges and deferred income | 492/3 | €39,779 | €39,779 | = | 0.0% |
| Non-recurring operating income | 76A | €18,921 | - | -€18,921 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,606 | €8,940 | -€32,667 | -78.5% |
| Other operating charges | 640/8 | €2,293 | €2,384 | +€91 | +4.0% |
| Gross operating margin | 9900 | €45,936 | €39,616 | -€6,320 | -13.8% |
| Operating profit (loss) | 9901 | €2,036 | €28,292 | +€26,256 | +1,289% |
| Financial income | 75/76B | €18 | €27 | +€8 | +45.5% |
| Recurring financial income | 75 | €18 | €27 | +€8 | +45.5% |
| Financial charges | 65/66B | €27,564 | €9,530 | -€18,034 | -65.4% |
| Recurring financial charges | 65 | €27,564 | €9,530 | -€18,034 | -65.4% |
| Profit (loss) for the period before taxes | 9903 | -€25,510 | €18,789 | +€44,299 | |
| Income taxes | 67/77 | €130 | €2,986 | +€2,856 | +2,196% |
| Profit (loss) for the period | 9904 | -€25,640 | €15,802 | +€41,442 | |
| Profit (loss) for the period to be appropriated | 9905 | -€25,640 | €15,802 | +€41,442 |
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.