ODEBRECHT: 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.
What changed
ODEBRECHT
NACE 68.110, Buying and selling of own real estate
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€596,816
2024 · -€1.4m+€766,772
Equity
€12.0m
2024 · €12.6m-€596,816
Cash
€635,681
2024 · €639,217-€3,537
Balance sheet total
€92.3m
2024 · €82.0m+€10.3m
Largest movements
Assets
- Financial fixed assets +€9.6m
up €9.6m (+12.7%), from €75.7m to €85.3m
of which Affiliated companies: +€8.5m
- Deferred charges and accrued income +€998,110
up €998,110 (+32.0%), from €3.1m to €4.1m
Equity and liabilities
- Debts after one year +€77.3m
new in 2025: €77.3m
- Other debts -€64.2m
down €64.2m (-100.0%), from €64.2m to €8,133
- Accrued charges and deferred income -€2.2m
down €2.2m (-45.6%), from €4.7m to €2.6m
Income statement
- Financial charges -€2.1m
down €2.1m (-43.6%), from €4.7m to €2.7m
- Financial income -€1.1m
down €1.1m (-33.4%), from €3.4m to €2.3m
- Services and other goods +€222,279
up €222,279 (+38.8%), from €572,693 to €794,972
- Turnover +€93,149
up €93,149 (+15.5%), from €600,142 to €693,291
- Staff costs +€13,201
up €13,201 (+1.3%), from €993,267 to €1.0m
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.
Result 2024
-€1.4m
Turnover
+€93,149
Other operating income
-€6,015
Services and other goods
-€222,279
Staff costs
-€13,201
Depreciation
-€7,280
Other operating charges
+€9,814
Other operating items
-€21,529
Financial income
-€1.1m
Financial charges
+€2.1m
Result 2025
-€596,816
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.
From operations
-€67.7m
Investment
-€9.6m
Financing
+€77.3m
Cash 2024
€639,217
From operations (derived)
-€67.7m
Net result for the year
-€596,816
Depreciation
+€44,828
Receivables within one year
+€249,777
Deferred charges and accrued income
-€998,110
Smaller working-capital items
-€45,370
Other debts
-€64.2m
Accrued charges and deferred income
-€2.2m
Investment (derived)
-€9.6m
Investment in fixed assets (net)
-€9.6m
Financing
+€77.3m
Debts after one year
+€77.3m
Cash 2025
€635,681
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €81,974,002 | €92,310,579 | +€10.3m | +12.6% |
| Fixed assets | 21/28 | €75,848,479 | €85,440,259 | +€9.6m | +12.6% |
| Tangible fixed assets | 22/27 | €142,223 | €114,215 | -€28,008 | -19.7% |
| Plant, machinery and equipment | 23 | €5,991 | €7,254 | +€1,264 | +21.1% |
| Furniture and vehicles | 24 | €129,590 | €102,146 | -€27,444 | -21.2% |
| Other tangible fixed assets | 26 | €6,643 | €4,815 | -€1,828 | -27.5% |
| Financial fixed assets | 28 | €75,706,256 | €85,326,044 | +€9.6m | +12.7% |
| Affiliated companies | 280/1 | €52,661,388 | €61,140,551 | +€8.5m | +16.1% |
| Participating interests | 280 | €22,709,654 | €22,709,654 | = | 0.0% |
| Amounts receivable | 281 | €29,951,733 | €38,430,897 | +€8.5m | +28.3% |
| Companies linked by participating interests | 282/3 | €23,044,868 | €24,185,494 | +€1.1m | +4.9% |
| Participating interests | 282 | €4,807,655 | €4,807,655 | = | 0.0% |
| Amounts receivable | 283 | €18,237,213 | €19,377,839 | +€1.1m | +6.3% |
| Current assets | 29/58 | €6,125,523 | €6,870,320 | +€744,797 | +12.2% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €2,367,696 | €2,117,919 | -€249,777 | -10.5% |
| Trade receivables | 40 | €816,766 | €971,312 | +€154,546 | +18.9% |
| Other amounts receivable | 41 | €1,550,930 | €1,146,607 | -€404,323 | -26.1% |
| Cash at bank and in hand | 54/58 | €639,217 | €635,681 | -€3,537 | -0.6% |
| Deferred charges and accrued income | 490/1 | €3,118,610 | €4,116,721 | +€998,110 | +32.0% |
| Total equity and liabilities | 10/49 | €81,974,002 | €92,310,579 | +€10.3m | +12.6% |
| Equity | 10/15 | €12,599,119 | €12,002,303 | -€596,816 | -4.7% |
| Contributions | 10/11 | €1,287,646 | €1,287,646 | = | 0.0% |
| Capital | 10 | €1,287,646 | €1,287,646 | = | 0.0% |
| Issued capital | 100 | €1,287,646 | €1,287,646 | = | 0.0% |
| Reserves | 13 | €128,765 | €128,765 | = | 0.0% |
| Non-distributable reserves | 130/1 | €128,765 | €128,765 | = | 0.0% |
| Legal reserve | 130 | €128,765 | €128,765 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,182,708 | €10,585,893 | -€596,816 | -5.3% |
| Amounts payable | 17/49 | €69,374,883 | €80,308,276 | +€10.9m | +15.8% |
| Amounts payable after more than one year | 17 | - | €77,340,467 | +€77.3m | |
| Other amounts payable | 178/9 | - | €77,340,467 | +€77.3m | |
| Amounts payable within one year | 42/48 | €64,644,489 | €392,829 | -€64.3m | -99.4% |
| Trade debts | 44 | €316,855 | €237,903 | -€78,952 | -24.9% |
| Suppliers | 440/4 | €316,855 | €237,903 | -€78,952 | -24.9% |
| Taxes, remuneration and social security | 45 | €113,211 | €146,793 | +€33,582 | +29.7% |
| Taxes | 450/3 | €11,407 | €44,273 | +€32,865 | +288.1% |
| Remuneration and social security | 454/9 | €101,803 | €102,520 | +€717 | +0.7% |
| Other amounts payable | 47/48 | €64,214,423 | €8,133 | -€64.2m | -100.0% |
| Accrued charges and deferred income | 492/3 | €4,730,395 | €2,574,980 | -€2.2m | -45.6% |
| Operating income | 70/76A | €1,611,016 | €1,676,613 | +€65,597 | +4.1% |
| Turnover | 70 | €600,142 | €693,291 | +€93,149 | +15.5% |
| Other operating income | 74 | €737,611 | €731,597 | -€6,015 | -0.8% |
| Non-recurring operating income | 76A | €273,263 | €251,725 | -€21,538 | -7.9% |
| Operating charges | 60/66A | €1,617,170 | €1,850,106 | +€232,936 | +14.4% |
| Services and other goods | 61 | €572,693 | €794,972 | +€222,279 | +38.8% |
| Remuneration, social security and pensions | 62 | €993,267 | €1,006,467 | +€13,201 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,549 | €44,828 | +€7,280 | +19.4% |
| Other operating charges | 640/8 | €13,653 | €3,839 | -€9,814 | -71.9% |
| Non-recurring operating charges | 66A | €9 | €0 | -€9 | -100.0% |
| Operating profit (loss) | 9901 | -€6,154 | -€173,493 | -€167,340 | -2719.3% |
| Financial income | 75/76B | €3,383,787 | €2,253,042 | -€1.1m | -33.4% |
| Recurring financial income | 75 | €3,383,787 | €2,253,042 | -€1.1m | -33.4% |
| Income from current assets | 751 | €2,969,908 | €2,253,042 | -€716,866 | -24.1% |
| Other financial income | 752/9 | €413,879 | €0 | -€413,879 | -100.0% |
| Financial charges | 65/66B | €4,741,221 | €2,676,365 | -€2.1m | -43.6% |
| Recurring financial charges | 65 | €4,741,221 | €2,676,365 | -€2.1m | -43.6% |
| Debt charges | 650 | €4,730,523 | €2,667,721 | -€2.1m | -43.6% |
| Other financial charges | 652/9 | €10,697 | €8,644 | -€2,053 | -19.2% |
| Profit (loss) for the period before taxes | 9903 | -€1,363,588 | -€596,816 | +€766,772 | +56.2% |
| Profit (loss) for the period | 9904 | -€1,363,588 | -€596,816 | +€766,772 | +56.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,363,588 | -€596,816 | +€766,772 | +56.2% |
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 8 October 2026 via checked.be.