Odisee: 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
Odisee
NACE 85.402, Education
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.4m
2024 · -€443,984+€1.8m
Equity
€113.3m
2024 · €112.4m+€874,068
Cash
€5.5m
2024 · €8.4m-€2.9m
Balance sheet total
€167.3m
2024 · €167.8m-€570,010
Largest movements
Assets
- Current investments +€5.0m
up €5.0m (+33.3%), from €15.0m to €20.0m
- Cash -€2.9m
down €2.9m (-34.8%), from €8.4m to €5.5m
mainly Investment in fixed assets (net) (-€8.9m) and Current investments (-€5.0m)
- Tangible fixed assets -€2.8m
down €2.8m (-2.2%), from €130.1m to €127.2m
of which Land and buildings: -€3.5m
Equity and liabilities
- Debts after one year -€2.8m
down €2.8m (-11.6%), from €24.6m to €21.8m
Income statement
- Turnover +€4.7m
up €4.7m (+4.2%), from €109.9m to €114.6m
- Staff costs +€3.4m
up €3.4m (+4.0%), from €83.8m to €87.2m
- Services and other goods +€1.6m
up €1.6m (+8.3%), from €18.7m to €20.3m
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
-€443,984
Turnover
+€4.7m
Other operating income
+€284,331
Goods and materials
-€35,653
Services and other goods
-€1.6m
Staff costs
-€3.4m
Depreciation
-€127,544
Other operating charges
+€63,873
Other operating items
+€1.9m
Financial income
-€83,496
Financial charges
+€116,635
Result 2025
€1.4m
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
+€14.4m
Investment
-€13.9m
Financing
-€3.4m
Cash 2024
€8.4m
From operations (derived)
+€14.4m
Net result for the year
+€1.4m
Depreciation
+€11.6m
Receivables after one year
+€29,128
Stocks and contracts
+€360,999
Receivables within one year
-€156,547
Deferred charges and accrued income
-€228,637
Debts within one year
+€1.0m
Accrued charges and deferred income
+€386,092
Investment (derived)
-€13.9m
Investment in fixed assets (net)
-€8.9m
Current investments
-€5.0m
Financing
-€3.4m
Debts after one year
-€2.8m
Contributions, distributions and other
-€523,758
Cash 2025
€5.5m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €167,831,604 | €167,261,594 | -€570,010 | -0.3% |
| Fixed assets | 21/28 | €130,287,736 | €127,624,830 | -€2.7m | -2.0% |
| Intangible fixed assets | 21 | €172,284 | €356,219 | +€183,935 | +106.8% |
| Tangible fixed assets | 22/27 | €130,090,864 | €127,242,833 | -€2.8m | -2.2% |
| Land and buildings | 22 | €107,071,814 | €103,533,377 | -€3.5m | -3.3% |
| Plant, machinery and equipment | 23 | €15,337,711 | €16,098,976 | +€761,265 | +5.0% |
| Furniture and vehicles | 24 | €7,050,534 | €6,998,175 | -€52,359 | -0.7% |
| Other tangible fixed assets | 26 | €461,094 | €442,594 | -€18,500 | -4.0% |
| Assets under construction and advance payments | 27 | €169,711 | €169,711 | = | 0.0% |
| Financial fixed assets | 28 | €24,588 | €25,778 | +€1,190 | +4.8% |
| Affiliated companies | 280/1 | €15,000 | €15,000 | = | 0.0% |
| Participating interests | 280 | €15,000 | €15,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €9,588 | €10,778 | +€1,190 | +12.4% |
| Shares | 284 | €6,198 | €6,198 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €3,390 | €4,580 | +€1,190 | +35.1% |
| Current assets | 29/58 | €37,543,868 | €39,636,764 | +€2.1m | +5.6% |
| Amounts receivable after more than one year | 29 | €57,690 | €28,562 | -€29,128 | -50.5% |
| Other amounts receivable | 291 | €57,690 | €28,562 | -€29,128 | -50.5% |
| Stocks and contracts in progress | 3 | €829,632 | €468,633 | -€360,999 | -43.5% |
| Stocks | 30/36 | €0 | - | = | |
| Goods purchased for resale | 34 | €0 | - | = | |
| Contracts in progress | 37 | €829,632 | €468,633 | -€360,999 | -43.5% |
| Amounts receivable within one year | 40/41 | €12,889,829 | €13,046,377 | +€156,547 | +1.2% |
| Trade receivables | 40 | €9,142,674 | €6,800,104 | -€2.3m | -25.6% |
| Other amounts receivable | 41 | €3,747,156 | €6,246,273 | +€2.5m | +66.7% |
| Current investments | 50/53 | €15,002,401 | €20,002,902 | +€5.0m | +33.3% |
| Cash at bank and in hand | 54/58 | €8,352,967 | €5,450,306 | -€2.9m | -34.8% |
| Deferred charges and accrued income | 490/1 | €411,348 | €639,985 | +€228,637 | +55.6% |
| Total equity and liabilities | 10/49 | €167,831,604 | €167,261,594 | -€570,010 | -0.3% |
| Equity | 10/15 | €112,405,627 | €113,279,694 | +€874,068 | +0.8% |
| Contributions | 10/11 | €17,406,034 | €17,406,034 | = | 0.0% |
| Capital | 10 | €17,406,034 | €17,406,034 | = | 0.0% |
| Reserves | 13 | €14,537,702 | €15,931,610 | +€1.4m | +9.6% |
| Profit (loss) carried forward | 14 | €62,053,048 | €62,056,966 | +€3,919 | 0.0% |
| Investment grants | 15 | €18,408,843 | €17,885,085 | -€523,758 | -2.8% |
| Amounts payable | 17/49 | €55,425,977 | €53,981,899 | -€1.4m | -2.6% |
| Amounts payable after more than one year | 17 | €24,609,138 | €21,759,467 | -€2.8m | -11.6% |
| Financial debts | 170/4 | €24,609,138 | €21,759,467 | -€2.8m | -11.6% |
| Credit institutions | 173 | €24,609,138 | €21,759,467 | -€2.8m | -11.6% |
| Amounts payable within one year | 42/48 | €21,440,654 | €22,460,155 | +€1.0m | +4.8% |
| Current portion of amounts payable after more than one year | 42 | €2,845,639 | €2,849,670 | +€4,032 | +0.1% |
| Trade debts | 44 | €3,930,868 | €4,316,669 | +€385,801 | +9.8% |
| Suppliers | 440/4 | €3,930,868 | €4,316,669 | +€385,801 | +9.8% |
| Advances received on contracts in progress | 46 | €4,021,639 | €4,278,668 | +€257,029 | +6.4% |
| Taxes, remuneration and social security | 45 | €5,884,616 | €6,111,708 | +€227,092 | +3.9% |
| Taxes | 450/3 | €504,870 | €450,215 | -€54,655 | -10.8% |
| Remuneration and social security | 454/9 | €5,379,746 | €5,661,494 | +€281,748 | +5.2% |
| Accrued charges and deferred income | 492/3 | €9,376,185 | €9,762,277 | +€386,092 | +4.1% |
| Operating income | 70/76A | €115,399,115 | €122,163,875 | +€6.8m | +5.9% |
| Turnover | 70 | €109,906,963 | €114,558,305 | +€4.7m | +4.2% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€718,840 | -€707,083 | +€11,757 | +1.6% |
| Other operating income | 74 | €1,867,620 | €2,151,951 | +€284,331 | +15.2% |
| Non-recurring operating income | 76A | €1,050,746 | €2,661,389 | +€1.6m | +153.3% |
| Operating charges | 60/66A | €115,274,362 | €120,230,452 | +€5.0m | +4.3% |
| Goods for resale, raw materials and consumables | 60 | €919,840 | €955,494 | +€35,653 | +3.9% |
| Purchases | 600/8 | €916,882 | €955,494 | +€38,612 | +4.2% |
| Change in stocks: decrease (increase) | 609 | €2,958 | €0 | -€2,958 | -100.0% |
| Services and other goods | 61 | €18,700,271 | €20,258,717 | +€1.6m | +8.3% |
| Remuneration, social security and pensions | 62 | €83,836,546 | €87,201,754 | +€3.4m | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,450,914 | €11,578,457 | +€127,544 | +1.1% |
| Other operating charges | 640/8 | €256,061 | €192,189 | -€63,873 | -24.9% |
| Non-recurring operating charges | 66A | €110,729 | €43,841 | -€66,888 | -60.4% |
| Operating profit (loss) | 9901 | €124,753 | €1,933,423 | +€1.8m | +1449.8% |
| Financial income | 75/76B | €787,096 | €703,600 | -€83,496 | -10.6% |
| Recurring financial income | 75 | €787,096 | €703,600 | -€83,496 | -10.6% |
| Income from current assets | 751 | €583,145 | €400,368 | -€182,777 | -31.3% |
| Other financial income | 752/9 | €203,951 | €303,232 | +€99,281 | +48.7% |
| Financial charges | 65/66B | €1,355,832 | €1,239,198 | -€116,635 | -8.6% |
| Recurring financial charges | 65 | €1,355,832 | €1,239,198 | -€116,635 | -8.6% |
| Debt charges | 650 | €1,327,439 | €1,208,512 | -€118,927 | -9.0% |
| Other financial charges | 652/9 | €28,394 | €30,686 | +€2,292 | +8.1% |
| Profit (loss) for the period before taxes | 9903 | -€443,984 | €1,397,826 | +€1.8m | |
| Profit (loss) for the period | 9904 | -€443,984 | €1,397,826 | +€1.8m | |
| Profit (loss) for the period to be appropriated | 9905 | -€443,984 | €1,397,826 | +€1.8m |
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.