Odile: 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
Odile
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€38,674
2024 · €52,504-€13,830
Equity
€1.8m
2024 · €1.7m+€121,835
Cash
€22,406
2024 · €9,041+€13,365
Balance sheet total
€2.3m
2024 · €2.2m+€31,317
Largest movements
Assets
- Financial fixed assets +€66,565
up €66,565 (+4.4%), from €1.5m to €1.6m
- Tangible fixed assets -€35,227
down €35,227 (-5.1%), from €694,092 to €658,865
Equity and liabilities
- Revaluation surpluses +€83,162
up €83,162 (+11.9%), from €697,196 to €780,357
- Debts after one year -€50,152
down €50,152 (-12.8%), from €391,735 to €341,583
of which Financial debts: -€50,152
- Reserves +€38,434
up €38,434 (+4.4%), from €874,732 to €913,166
of which Distributable reserves: +€45,000
Income statement
- Gross operating margin -€18,078
down €18,078 (-12.3%), from €147,191 to €129,113
- Taxes -€4,663
down €4,663 (-23.6%), from €19,741 to €15,078
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
€52,504
Gross operating margin
-€18,078
Other operating charges
-€600
Financial income
+€17
Financial charges
+€168
Taxes
+€4,663
Result 2025
€38,674
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
+€60,657
Investment
-€66,565
Financing
+€19,273
Cash 2024
€9,041
From operations (derived)
+€60,657
Net result for the year
+€38,674
Depreciation
+€35,227
Receivables within one year
+€15,004
Deferred charges and accrued income
-€1,619
Provisions
-€2,189
Trade debts
+€1,198
Tax, wage and social debts
-€17,215
Other debts
-€9,024
Accrued charges and deferred income
+€601
Investment (derived)
-€66,565
Investment in fixed assets (net)
-€66,565
Financing
+€19,273
Debts after one year
-€50,152
Current portion of long-term debt
-€1,230
Short-term financial debts
-€12,507
Contributions, distributions and other
+€83,162
Cash 2025
€22,406
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,238,851 | €2,270,168 | +€31,317 | +1.4% |
| Fixed assets | 21/28 | €2,210,550 | €2,241,887 | +€31,338 | +1.4% |
| Tangible fixed assets | 22/27 | €694,092 | €658,865 | -€35,227 | -5.1% |
| Land and buildings | 22 | €694,092 | €658,865 | -€35,227 | -5.1% |
| Financial fixed assets | 28 | €1,516,458 | €1,583,023 | +€66,565 | +4.4% |
| Current assets | 29/58 | €28,301 | €28,280 | -€21 | -0.1% |
| Amounts receivable within one year | 40/41 | €18,966 | €3,961 | -€15,004 | -79.1% |
| Trade receivables | 40 | €3,666 | €0 | -€3,666 | -100.0% |
| Other amounts receivable | 41 | €15,300 | €3,961 | -€11,339 | -74.1% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €9,041 | €22,406 | +€13,365 | +147.8% |
| Deferred charges and accrued income | 490/1 | €294 | €1,913 | +€1,619 | +550.7% |
| Total equity and liabilities | 10/49 | €2,238,851 | €2,270,168 | +€31,317 | +1.4% |
| Equity | 10/15 | €1,704,965 | €1,826,800 | +€121,835 | +7.1% |
| Contributions | 10/11 | €131,000 | €131,000 | = | 0.0% |
| Capital | 10 | €131,000 | €131,000 | = | 0.0% |
| Issued capital | 100 | €131,000 | €131,000 | = | 0.0% |
| Revaluation surpluses | 12 | €697,196 | €780,357 | +€83,162 | +11.9% |
| Reserves | 13 | €874,732 | €913,166 | +€38,434 | +4.4% |
| Non-distributable reserves | 130/1 | €13,100 | €13,100 | = | 0.0% |
| Legal reserve | 130 | €13,100 | €13,100 | = | 0.0% |
| Tax-exempt reserves | 132 | €75,422 | €68,856 | -€6,566 | -8.7% |
| Distributable reserves | 133 | €786,210 | €831,210 | +€45,000 | +5.7% |
| Profit (loss) carried forward | 14 | €2,038 | €2,277 | +€240 | +11.8% |
| Provisions and deferred taxes | 16 | €25,141 | €22,952 | -€2,189 | -8.7% |
| Deferred taxes | 168 | €25,141 | €22,952 | -€2,189 | -8.7% |
| Amounts payable | 17/49 | €508,745 | €420,416 | -€88,329 | -17.4% |
| Amounts payable after more than one year | 17 | €391,735 | €341,583 | -€50,152 | -12.8% |
| Financial debts | 170/4 | €381,655 | €331,503 | -€50,152 | -13.1% |
| Other amounts payable | 178/9 | €10,080 | €10,080 | = | 0.0% |
| Amounts payable within one year | 42/48 | €116,534 | €77,756 | -€38,779 | -33.3% |
| Current portion of amounts payable after more than one year | 42 | €48,518 | €47,288 | -€1,230 | -2.5% |
| Financial debts | 43 | €12,507 | €0 | -€12,507 | -100.0% |
| Credit institutions | 430/8 | €12,507 | €0 | -€12,507 | -100.0% |
| Trade debts | 44 | €946 | €2,144 | +€1,198 | +126.6% |
| Suppliers | 440/4 | €946 | €2,144 | +€1,198 | +126.6% |
| Taxes, remuneration and social security | 45 | €20,960 | €3,745 | -€17,215 | -82.1% |
| Taxes | 450/3 | €20,960 | €3,745 | -€17,215 | -82.1% |
| Other amounts payable | 47/48 | €33,603 | €24,579 | -€9,024 | -26.9% |
| Accrued charges and deferred income | 492/3 | €476 | €1,077 | +€601 | +126.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,227 | €35,227 | = | 0.0% |
| Other operating charges | 640/8 | €19,150 | €19,750 | +€600 | +3.1% |
| Gross operating margin | 9900 | €147,191 | €129,113 | -€18,078 | -12.3% |
| Operating profit (loss) | 9901 | €92,814 | €74,135 | -€18,679 | -20.1% |
| Financial income | 75/76B | €35 | €52 | +€17 | +50.3% |
| Recurring financial income | 75 | €35 | €52 | +€17 | +50.3% |
| Financial charges | 65/66B | €22,793 | €22,624 | -€168 | -0.7% |
| Recurring financial charges | 65 | €16,393 | €22,624 | +€6,232 | +38.0% |
| Non-recurring financial charges | 66B | €6,400 | €0 | -€6,400 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €70,056 | €51,563 | -€18,493 | -26.4% |
| Transfer from deferred taxes | 780 | €2,189 | €2,189 | = | 0.0% |
| Income taxes | 67/77 | €19,741 | €15,078 | -€4,663 | -23.6% |
| Profit (loss) for the period | 9904 | €52,504 | €38,674 | -€13,830 | -26.3% |
| Transfer from tax-exempt reserves | 789 | €6,566 | €6,566 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €59,070 | €45,240 | -€13,830 | -23.4% |
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 5 October 2026 via checked.be.