ODIN VENTURES: 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 VENTURES
Largest movements
- Receivables after one year +€437,917
up €437,917 (+173%), from €252,858 to €690,775
- Receivables within one year -€106,894
down €106,894 (-91.1%), from €117,273 to €10,379
of which Other amounts receivable: -€101,490
- Contributions +€3.3m
up €3.3m (+40.1%), from €8.2m to €11.5m
- Debts after one year -€3.2m
down €3.2m (-100%), from €3.2m to €0
- Other debts +€512,906
new in 2025: €512,906
- Profit (loss) carried forward -€200,135
down €200,135 (-7.8%), from -€2.6m to -€2.8m
- Current portion of long-term debt -€102,083
down €102,083 (-50.5%), from €202,083 to €100,000
- Financial income +€23,814
up €23,814 (+186%), from €12,818 to €36,631
- Financial charges -€11,099
down €11,099 (-5.0%), from €223,960 to €212,862
of which Financial charges: -€111,099
- Gross operating margin -€6,105
down €6,105 (-34.4%), from -€17,738 to -€23,842
- Other operating charges -€2,012
down €2,012 (-97.0%), from €2,074 to €62
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.
Derived cash bridge
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 | €9,081,453 | €9,399,392 | +€317,939 | +3.5% |
| Fixed assets | 21/28 | €8,698,119 | €8,698,119 | = | 0.0% |
| Financial fixed assets | 28 | €8,698,119 | €8,698,119 | = | 0.0% |
| Current assets | 29/58 | €383,335 | €701,273 | +€317,939 | +82.9% |
| Amounts receivable after more than one year | 29 | €252,858 | €690,775 | +€437,917 | +173% |
| Other amounts receivable | 291 | €252,858 | €690,775 | +€437,917 | +173% |
| Amounts receivable within one year | 40/41 | €117,273 | €10,379 | -€106,894 | -91.1% |
| Trade receivables | 40 | €15,783 | €10,379 | -€5,404 | -34.2% |
| Other amounts receivable | 41 | €101,490 | €0 | -€101,490 | -100% |
| Cash at bank and in hand | 54/58 | €9,659 | €120 | -€9,539 | -98.8% |
| Deferred charges and accrued income | 490/1 | €3,545 | €0 | -€3,545 | -100% |
| Total equity and liabilities | 10/49 | €9,081,453 | €9,399,392 | +€317,939 | +3.5% |
| Equity | 10/15 | €5,656,020 | €8,753,781 | +€3.1m | +54.8% |
| Contributions | 10/11 | €8,218,000 | €11,515,896 | +€3.3m | +40.1% |
| Capital | 10 | €8,218,000 | €11,515,896 | +€3.3m | +40.1% |
| Issued capital | 100 | €8,221,000 | €11,518,896 | +€3.3m | +40.1% |
| Uncalled capital | 101 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,561,980 | -€2,762,115 | -€200,135 | -7.8% |
| Amounts payable | 17/49 | €3,425,433 | €645,612 | -€2.8m | -81.2% |
| Amounts payable after more than one year | 17 | €3,179,877 | €0 | -€3.2m | -100% |
| Financial debts | 170/4 | €3,179,877 | €0 | -€3.2m | -100% |
| Amounts payable within one year | 42/48 | €222,841 | €640,112 | +€417,271 | +187% |
| Current portion of amounts payable after more than one year | 42 | €202,083 | €100,000 | -€102,083 | -50.5% |
| Trade debts | 44 | €20,758 | €27,206 | +€6,448 | +31.1% |
| Suppliers | 440/4 | €20,758 | €27,206 | +€6,448 | +31.1% |
| Other amounts payable | 47/48 | - | €512,906 | +€512,906 | |
| Accrued charges and deferred income | 492/3 | €22,716 | €5,500 | -€17,216 | -75.8% |
| Other operating charges | 640/8 | €2,074 | €62 | -€2,012 | -97.0% |
| Gross operating margin | 9900 | -€17,738 | -€23,842 | -€6,105 | -34.4% |
| Operating profit (loss) | 9901 | -€19,812 | -€23,904 | -€4,092 | -20.7% |
| Financial income | 75/76B | €12,818 | €36,631 | +€23,814 | +186% |
| Recurring financial income | 75 | €12,818 | €36,631 | +€23,814 | +186% |
| Financial charges | 65/66B | €223,960 | €212,862 | -€11,099 | -5.0% |
| Recurring financial charges | 65 | €223,960 | €112,862 | -€111,099 | -49.6% |
| Non-recurring financial charges | 66B | - | €100,000 | +€100,000 | |
| Profit (loss) for the period before taxes | 9903 | -€230,955 | -€200,135 | +€30,820 | +13.3% |
| Profit (loss) for the period | 9904 | -€230,955 | -€200,135 | +€30,820 | +13.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€230,955 | -€200,135 | +€30,820 | +13.3% |
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 20 October 2026 via checked.be.