ODIN: 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.
ODIN
Largest movements
- Current investments +€275,000
up €275,000 (+122.2%), from €225,000 to €500,000
- Cash +€28,533
up €28,533 (+69.0%), from €41,325 to €69,858
mainly Net result for the year (+€284,790) and Deferred charges and accrued income (+€23,545)
- Deferred charges and accrued income -€23,545
down €23,545 (-99.2%), from €23,743 to €198
- Reserves +€284,790
up €284,790 (+81.9%), from €347,644 to €632,434
of which Distributable reserves: +€284,790
- Financial income +€200,311
up €200,311 (+5847.4%), from €3,426 to €203,737
- Other operating income -€13,130
no longer reported in 2025 (was €13,130)
- Services and other goods -€3,953
down €3,953 (-61.7%), from €6,411 to €2,458
- Taxes -€1,913
down €1,913 (-6.3%), from €30,183 to €28,270
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 | €436,937 | €721,782 | +€284,845 | +65.2% |
| Fixed assets | 21/28 | €145,309 | €145,309 | = | 0.0% |
| Tangible fixed assets | 22/27 | €139,104 | €139,104 | = | 0.0% |
| Land and buildings | 22 | €139,104 | €139,104 | = | 0.0% |
| Financial fixed assets | 28 | €6,205 | €6,205 | = | 0.0% |
| Companies linked by participating interests | 282/3 | €6,200 | €6,200 | = | 0.0% |
| Participating interests | 282 | €6,200 | €6,200 | = | 0.0% |
| Other financial fixed assets | 284/8 | €5 | €5 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €5 | €5 | = | 0.0% |
| Current assets | 29/58 | €291,628 | €576,473 | +€284,845 | +97.7% |
| Amounts receivable within one year | 40/41 | €1,560 | €6,417 | +€4,857 | +311.4% |
| Other amounts receivable | 41 | €1,560 | €6,417 | +€4,857 | +311.4% |
| Current investments | 50/53 | €225,000 | €500,000 | +€275,000 | +122.2% |
| Other investments | 51/53 | €225,000 | €500,000 | +€275,000 | +122.2% |
| Cash at bank and in hand | 54/58 | €41,325 | €69,858 | +€28,533 | +69.0% |
| Deferred charges and accrued income | 490/1 | €23,743 | €198 | -€23,545 | -99.2% |
| Total equity and liabilities | 10/49 | €436,937 | €721,782 | +€284,845 | +65.2% |
| Equity | 10/15 | €435,767 | €720,557 | +€284,790 | +65.4% |
| Contributions | 10/11 | €88,123 | €88,123 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Outside capital | 11 | €26,123 | €26,123 | = | 0.0% |
| Share premium | 1100/10 | €26,123 | €26,123 | = | 0.0% |
| Reserves | 13 | €347,644 | €632,434 | +€284,790 | +81.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €27,741 | €27,741 | = | 0.0% |
| Distributable reserves | 133 | €313,703 | €598,493 | +€284,790 | +90.8% |
| Amounts payable | 17/49 | €1,171 | €1,226 | +€55 | +4.7% |
| Accrued charges and deferred income | 492/3 | €1,171 | €1,226 | +€55 | +4.7% |
| Operating income | 70/76A | €150,322 | €137,932 | -€12,390 | -8.2% |
| Turnover | 70 | €137,192 | €137,932 | +€740 | +0.5% |
| Other operating income | 74 | €13,130 | - | -€13,130 | |
| Operating charges | 60/66A | €30,376 | €27,176 | -€3,201 | -10.5% |
| Services and other goods | 61 | €6,411 | €2,458 | -€3,953 | -61.7% |
| Other operating charges | 640/8 | €23,965 | €24,718 | +€752 | +3.1% |
| Operating profit (loss) | 9901 | €119,946 | €110,756 | -€9,189 | -7.7% |
| Financial income | 75/76B | €3,426 | €203,737 | +€200,311 | +5847.4% |
| Recurring financial income | 75 | €3,426 | €203,737 | +€200,311 | +5847.4% |
| Income from financial fixed assets | 750 | - | €199,980 | +€199,980 | |
| Income from current assets | 751 | €3,426 | €3,757 | +€331 | +9.7% |
| Financial charges | 65/66B | €1,500 | €1,433 | -€67 | -4.5% |
| Recurring financial charges | 65 | €1,500 | €1,433 | -€67 | -4.5% |
| Other financial charges | 652/9 | €1,500 | €1,433 | -€67 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | €121,871 | €313,060 | +€191,189 | +156.9% |
| Income taxes | 67/77 | €30,183 | €28,270 | -€1,913 | -6.3% |
| Taxes | 670/3 | €30,183 | €28,270 | -€1,913 | -6.3% |
| Profit (loss) for the period | 9904 | €91,688 | €284,790 | +€193,103 | +210.6% |
| Profit (loss) for the period to be appropriated | 9905 | €91,688 | €284,790 | +€193,103 | +210.6% |
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.