ODIN: what changed
Two financial 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
- Tangible fixed assets -€66,944
down €66,944 (-3.2%), from €2.1m to €2.0m
- Profit (loss) carried forward -€192,667
down €192,667 (-7.0%), from -€2.8m to -€3.0m
- Debts after one year +€101,125
up €101,125 (+3.3%), from €3.1m to €3.2m
- Accrued charges and deferred income +€25,788
up €25,788 (+30.9%), from €83,338 to €109,126
- Financial charges -€22,170
down €22,170 (-12.2%), from €181,557 to €159,386
- Gross operating margin +€7,274
up €7,274 (+20.3%), from €35,766 to €43,040
- Write-downs +€5,432
up €5,432, from -€5,432 to €0
- Other operating charges -€4,459
down €4,459 (-30.4%), from €14,676 to €10,217
- Financial income +€841
new in 2025: €841
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 | €2,114,944 | €2,068,175 | -€46,769 | -2.2% |
| Fixed assets | 21/28 | €2,080,020 | €2,013,076 | -€66,944 | -3.2% |
| Tangible fixed assets | 22/27 | €2,080,020 | €2,013,076 | -€66,944 | -3.2% |
| Land and buildings | 22 | €2,080,020 | €2,013,076 | -€66,944 | -3.2% |
| Current assets | 29/58 | €34,924 | €55,099 | +€20,175 | +57.8% |
| Amounts receivable within one year | 40/41 | €26,182 | €33,521 | +€7,338 | +28.0% |
| Trade receivables | 40 | €2,382 | €1,721 | -€662 | -27.8% |
| Other amounts receivable | 41 | €23,800 | €31,800 | +€8,000 | +33.6% |
| Cash at bank and in hand | 54/58 | €8,519 | €16,897 | +€8,378 | +98.4% |
| Deferred charges and accrued income | 490/1 | €223 | €4,681 | +€4,458 | +2001.6% |
| Total equity and liabilities | 10/49 | €2,114,944 | €2,068,175 | -€46,769 | -2.2% |
| Equity | 10/15 | -€2,653,409 | -€2,846,076 | -€192,667 | -7.3% |
| Contributions | 10/11 | €102,000 | €102,000 | = | 0.0% |
| Capital | 10 | €102,000 | €102,000 | = | 0.0% |
| Issued capital | 100 | €102,000 | €102,000 | = | 0.0% |
| Reserves | 13 | €3,099 | €3,099 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Legal reserve | 130 | €3,099 | €3,099 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,758,508 | -€2,951,175 | -€192,667 | -7.0% |
| Amounts payable | 17/49 | €4,768,352 | €4,914,251 | +€145,899 | +3.1% |
| Amounts payable after more than one year | 17 | €3,059,268 | €3,160,394 | +€101,125 | +3.3% |
| Other amounts payable | 178/9 | €3,059,268 | €3,160,394 | +€101,125 | +3.3% |
| Amounts payable within one year | 42/48 | €1,625,746 | €1,644,732 | +€18,985 | +1.2% |
| Financial debts | 43 | €1,620,000 | €1,620,000 | = | 0.0% |
| Credit institutions | 430/8 | €1,620,000 | €1,620,000 | = | 0.0% |
| Trade debts | 44 | €4,045 | €3,761 | -€284 | -7.0% |
| Suppliers | 440/4 | €4,045 | €3,761 | -€284 | -7.0% |
| Taxes, remuneration and social security | 45 | €552 | €1,113 | +€561 | +101.6% |
| Taxes | 450/3 | €552 | €1,113 | +€561 | +101.6% |
| Other amounts payable | 47/48 | €1,150 | €19,858 | +€18,708 | +1626.8% |
| Accrued charges and deferred income | 492/3 | €83,338 | €109,126 | +€25,788 | +30.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,944 | €66,944 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,432 | €0 | +€5,432 | |
| Other operating charges | 640/8 | €14,676 | €10,217 | -€4,459 | -30.4% |
| Gross operating margin | 9900 | €35,766 | €43,040 | +€7,274 | +20.3% |
| Operating profit (loss) | 9901 | -€40,422 | -€34,122 | +€6,300 | +15.6% |
| Financial income | 75/76B | - | €841 | +€841 | |
| Recurring financial income | 75 | - | €841 | +€841 | |
| Financial charges | 65/66B | €181,557 | €159,386 | -€22,170 | -12.2% |
| Recurring financial charges | 65 | €181,557 | €159,386 | -€22,170 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | -€221,979 | -€192,667 | +€29,312 | +13.2% |
| Profit (loss) for the period | 9904 | -€221,979 | -€192,667 | +€29,312 | +13.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€221,979 | -€192,667 | +€29,312 | +13.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.