Odegas: 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.
Odegas
Largest movements
- Cash +€3.0m
up €3.0m (+9696.1%), from €30,988 to €3.0m
mainly Net result for the year (+€2.0m) and Current investments (+€925,000)
- Current investments -€925,000
down €925,000 (-100.0%), from €925,000 to €0
- Financial fixed assets -€923,856
down €923,856 (-51.6%), from €1.8m to €867,166
- Receivables after one year +€519,200
new in 2025: €519,200
- Tangible fixed assets +€179,638
up €179,638 (+12085.9%), from €1,486 to €181,124
of which Furniture and vehicles: +€130,419
- Reserves +€2.0m
up €2.0m (+120.9%), from €1.7m to €3.7m
of which Distributable reserves: +€2.0m
- Debts after one year -€71,854
down €71,854 (-8.5%), from €843,336 to €771,481
of which Financial debts: -€93,564
- Financial income +€1.7m
up €1.7m (+880.4%), from €191,976 to €1.9m
of which Financial income: +€1.8m
- Depreciation +€16,406
up €16,406 (+1399.2%), from €1,173 to €17,579
- Gross operating margin +€12,301
up €12,301 (+5.7%), from €215,852 to €228,154
- Taxes +€6,312
up €6,312 (+10.8%), from €58,302 to €64,614
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 | €2,811,894 | €4,705,310 | +€1.9m | +67.3% |
| Fixed assets | 21/28 | €1,792,508 | €1,048,290 | -€744,218 | -41.5% |
| Tangible fixed assets | 22/27 | €1,486 | €181,124 | +€179,638 | +12085.9% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | - | €130,419 | +€130,419 | |
| Other tangible fixed assets | 26 | €1,486 | €706 | -€781 | -52.5% |
| Assets under construction and advance payments | 27 | - | €50,000 | +€50,000 | |
| Financial fixed assets | 28 | €1,791,021 | €867,166 | -€923,856 | -51.6% |
| Current assets | 29/58 | €1,019,387 | €3,657,020 | +€2.6m | +258.7% |
| Amounts receivable after more than one year | 29 | - | €519,200 | +€519,200 | |
| Other amounts receivable | 291 | - | €519,200 | +€519,200 | |
| Amounts receivable within one year | 40/41 | €54,875 | €97,556 | +€42,681 | +77.8% |
| Trade receivables | 40 | €21,875 | €25,544 | +€3,669 | +16.8% |
| Other amounts receivable | 41 | €33,000 | €72,012 | +€39,012 | +118.2% |
| Current investments | 50/53 | €925,000 | €0 | -€925,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €30,988 | €3,035,595 | +€3.0m | +9696.1% |
| Deferred charges and accrued income | 490/1 | €8,524 | €4,669 | -€3,854 | -45.2% |
| Total equity and liabilities | 10/49 | €2,811,894 | €4,705,310 | +€1.9m | +67.3% |
| Equity | 10/15 | €1,748,475 | €3,748,275 | +€2.0m | +114.4% |
| Contributions | 10/11 | €95,000 | €95,000 | = | 0.0% |
| Capital | 10 | €95,000 | €95,000 | = | 0.0% |
| Issued capital | 100 | €95,000 | €95,000 | = | 0.0% |
| Reserves | 13 | €1,653,475 | €3,653,275 | +€2.0m | +120.9% |
| Non-distributable reserves | 130/1 | €9,500 | €9,500 | = | 0.0% |
| Legal reserve | 130 | €9,500 | €9,500 | = | 0.0% |
| Distributable reserves | 133 | €1,643,975 | €3,643,775 | +€2.0m | +121.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,063,420 | €957,035 | -€106,384 | -10.0% |
| Amounts payable after more than one year | 17 | €843,336 | €771,481 | -€71,854 | -8.5% |
| Financial debts | 170/4 | €830,062 | €736,497 | -€93,564 | -11.3% |
| Other amounts payable | 178/9 | €13,274 | €34,984 | +€21,710 | +163.5% |
| Amounts payable within one year | 42/48 | €219,063 | €184,533 | -€34,530 | -15.8% |
| Current portion of amounts payable after more than one year | 42 | €128,125 | €146,036 | +€17,912 | +14.0% |
| Financial debts | 43 | €13,502 | €0 | -€13,502 | -100.0% |
| Credit institutions | 430/8 | €13,502 | €0 | -€13,502 | -100.0% |
| Trade debts | 44 | €550 | €2,559 | +€2,009 | +365.3% |
| Suppliers | 440/4 | €550 | €2,559 | +€2,009 | +365.3% |
| Taxes, remuneration and social security | 45 | €71,424 | €26,520 | -€44,904 | -62.9% |
| Taxes | 450/3 | €71,424 | €26,520 | -€44,904 | -62.9% |
| Other amounts payable | 47/48 | €5,462 | €9,418 | +€3,955 | +72.4% |
| Accrued charges and deferred income | 492/3 | €1,021 | €1,021 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,173 | €17,579 | +€16,406 | +1399.2% |
| Other operating charges | 640/8 | €2,168 | €2,075 | -€94 | -4.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €215,852 | €228,154 | +€12,301 | +5.7% |
| Operating profit (loss) | 9901 | €212,511 | €208,500 | -€4,011 | -1.9% |
| Financial income | 75/76B | €191,976 | €1,882,115 | +€1.7m | +880.4% |
| Recurring financial income | 75 | €77,568 | €1,848,942 | +€1.8m | +2283.6% |
| Non-recurring financial income | 76B | €114,408 | €33,173 | -€81,235 | -71.0% |
| Financial charges | 65/66B | €16,907 | €17,201 | +€294 | +1.7% |
| Recurring financial charges | 65 | €16,907 | €17,201 | +€294 | +1.7% |
| Profit (loss) for the period before taxes | 9903 | €387,580 | €2,073,414 | +€1.7m | +435.0% |
| Income taxes | 67/77 | €58,302 | €64,614 | +€6,312 | +10.8% |
| Profit (loss) for the period | 9904 | €329,278 | €2,008,800 | +€1.7m | +510.1% |
| Profit (loss) for the period to be appropriated | 9905 | €329,278 | €2,008,800 | +€1.7m | +510.1% |
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 4 October 2026 via checked.be.