ODE: 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.
ODE
Largest movements
- Receivables within one year +€89,291
up €89,291 (+1902.5%), from €4,693 to €93,985
of which Trade receivables: +€87,863
- Tangible fixed assets -€10,588
down €10,588 (-35.4%), from €29,944 to €19,356
of which Plant, machinery and equipment: -€7,668
- Financial fixed assets -€4,500
no longer reported in 2025 (was €4,500)
- Cash +€1,892
up €1,892 (+25.6%), from €7,381 to €9,273
mainly Other debts (+€100,436) and Depreciation (+€10,588)
- Other debts +€100,436
up €100,436 (+17943.7%), from €560 to €100,996
- Profit (loss) carried forward -€27,081
down €27,081 (-49.4%), from -€54,853 to -€81,933
- Trade debts +€2,508
up €2,508 (+240.9%), from €1,041 to €3,550
- Gross operating margin -€14,880
down €14,880, from €3,815 to -€11,065
- Other operating charges -€3,416
down €3,416 (-62.8%), from €5,443 to €2,027
- Financial charges +€2,342
up €2,342 (+695.8%), from €337 to €2,679
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 | €46,749 | €122,613 | +€75,864 | +162.3% |
| Fixed assets | 21/28 | €34,444 | €19,356 | -€15,088 | -43.8% |
| Tangible fixed assets | 22/27 | €29,944 | €19,356 | -€10,588 | -35.4% |
| Plant, machinery and equipment | 23 | €22,890 | €15,222 | -€7,668 | -33.5% |
| Furniture and vehicles | 24 | €2,639 | €955 | -€1,684 | -63.8% |
| Other tangible fixed assets | 26 | €4,415 | €3,178 | -€1,237 | -28.0% |
| Financial fixed assets | 28 | €4,500 | - | -€4,500 | |
| Current assets | 29/58 | €12,305 | €103,257 | +€90,953 | +739.2% |
| Amounts receivable within one year | 40/41 | €4,693 | €93,985 | +€89,291 | +1902.5% |
| Trade receivables | 40 | €4,648 | €92,512 | +€87,863 | +1890.2% |
| Other amounts receivable | 41 | €45 | €1,473 | +€1,428 | +3182.5% |
| Cash at bank and in hand | 54/58 | €7,381 | €9,273 | +€1,892 | +25.6% |
| Deferred charges and accrued income | 490/1 | €230 | - | -€230 | |
| Total equity and liabilities | 10/49 | €46,749 | €122,613 | +€75,864 | +162.3% |
| Equity | 10/15 | €45,148 | €18,067 | -€27,081 | -60.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€54,853 | -€81,933 | -€27,081 | -49.4% |
| Amounts payable | 17/49 | €1,601 | €104,546 | +€102,945 | +6429.5% |
| Amounts payable within one year | 42/48 | €1,601 | €104,546 | +€102,945 | +6429.5% |
| Trade debts | 44 | €1,041 | €3,550 | +€2,508 | +240.9% |
| Suppliers | 440/4 | €1,041 | €3,550 | +€2,508 | +240.9% |
| Other amounts payable | 47/48 | €560 | €100,996 | +€100,436 | +17943.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,588 | €10,588 | = | 0.0% |
| Other operating charges | 640/8 | €5,443 | €2,027 | -€3,416 | -62.8% |
| Non-recurring operating charges | 66A | - | €721 | +€721 | |
| Gross operating margin | 9900 | €3,815 | -€11,065 | -€14,880 | |
| Operating profit (loss) | 9901 | -€12,217 | -€24,402 | -€12,185 | -99.7% |
| Financial income | 75/76B | €4 | - | -€4 | |
| Recurring financial income | 75 | €4 | - | -€4 | |
| Financial charges | 65/66B | €337 | €2,679 | +€2,342 | +695.8% |
| Recurring financial charges | 65 | €337 | €2,679 | +€2,342 | +695.8% |
| Profit (loss) for the period before taxes | 9903 | -€12,550 | -€27,081 | -€14,531 | -115.8% |
| Profit (loss) for the period | 9904 | -€12,550 | -€27,081 | -€14,531 | -115.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,550 | -€27,081 | -€14,531 | -115.8% |
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 6 October 2026 via checked.be.