ODYSZEE PROJECTS: 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.
ODYSZEE PROJECTS
Largest movements
- Tangible fixed assets +€120,125
up €120,125 (+192.2%), from €62,513 to €182,638
of which Land and buildings: +€131,349
- Receivables within one year -€82,878
down €82,878 (-49.9%), from €165,947 to €83,069
of which Trade receivables: -€42,097
- Cash +€4,889
up €4,889 (+1310.7%), from €373 to €5,262
mainly Debts after one year (+€116,836) and Receivables within one year (+€82,878)
- Debts after one year +€116,836
up €116,836 (+1895.9%), from €6,163 to €122,999
- Reserves -€51,000
down €51,000 (-44.0%), from €115,860 to €64,860
- Current portion of long-term debt -€16,769
down €16,769 (-57.0%), from €29,405 to €12,636
- Tax, wage and social debts -€14,198
down €14,198 (-74.7%), from €19,000 to €4,802
- Depreciation +€2,571
up €2,571 (+10.2%), from €25,213 to €27,784
- Financial income -€2,277
down €2,277 (-99.5%), from €2,289 to €12
- Taxes -€1,474
down €1,474 (-15.3%), from €9,617 to €8,144
- Write-downs -€840
down €840 (-100.0%), from €840 to €0
- Gross operating margin -€662
down €662 (-1.3%), from €49,109 to €48,448
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 | €231,121 | €271,121 | +€40,001 | +17.3% |
| Fixed assets | 21/28 | €62,513 | €182,638 | +€120,125 | +192.2% |
| Tangible fixed assets | 22/27 | €62,513 | €182,638 | +€120,125 | +192.2% |
| Land and buildings | 22 | €39,145 | €170,494 | +€131,349 | +335.5% |
| Plant, machinery and equipment | 23 | - | €1,991 | +€1,991 | |
| Furniture and vehicles | 24 | €23,368 | €10,153 | -€13,215 | -56.6% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €168,608 | €88,483 | -€80,124 | -47.5% |
| Amounts receivable within one year | 40/41 | €165,947 | €83,069 | -€82,878 | -49.9% |
| Trade receivables | 40 | €125,166 | €83,069 | -€42,097 | -33.6% |
| Other amounts receivable | 41 | €40,782 | €0 | -€40,782 | -100.0% |
| Cash at bank and in hand | 54/58 | €373 | €5,262 | +€4,889 | +1310.7% |
| Deferred charges and accrued income | 490/1 | €2,288 | €152 | -€2,135 | -93.3% |
| Total equity and liabilities | 10/49 | €231,121 | €271,121 | +€40,001 | +17.3% |
| Equity | 10/15 | €162,981 | €112,242 | -€50,739 | -31.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €115,860 | €64,860 | -€51,000 | -44.0% |
| Distributable reserves | 133 | €115,860 | €64,860 | -€51,000 | -44.0% |
| Profit (loss) carried forward | 14 | €34,721 | €34,982 | +€261 | +0.8% |
| Amounts payable | 17/49 | €68,140 | €158,879 | +€90,740 | +133.2% |
| Amounts payable after more than one year | 17 | €6,163 | €122,999 | +€116,836 | +1895.9% |
| Financial debts | 170/4 | €6,163 | €122,999 | +€116,836 | +1895.9% |
| Amounts payable within one year | 42/48 | €61,977 | €35,881 | -€26,097 | -42.1% |
| Current portion of amounts payable after more than one year | 42 | €29,405 | €12,636 | -€16,769 | -57.0% |
| Trade debts | 44 | €13,572 | €15,842 | +€2,269 | +16.7% |
| Suppliers | 440/4 | €13,572 | €15,842 | +€2,269 | +16.7% |
| Taxes, remuneration and social security | 45 | €19,000 | €4,802 | -€14,198 | -74.7% |
| Taxes | 450/3 | €19,000 | €4,802 | -€14,198 | -74.7% |
| Other amounts payable | 47/48 | - | €2,601 | +€2,601 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,213 | €27,784 | +€2,571 | +10.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €840 | €0 | -€840 | -100.0% |
| Other operating charges | 640/8 | €1,445 | €1,644 | +€199 | +13.8% |
| Gross operating margin | 9900 | €49,109 | €48,448 | -€662 | -1.3% |
| Operating profit (loss) | 9901 | €21,612 | €19,020 | -€2,592 | -12.0% |
| Financial income | 75/76B | €2,289 | €12 | -€2,277 | -99.5% |
| Recurring financial income | 75 | €2,289 | €12 | -€2,277 | -99.5% |
| Financial charges | 65/66B | €2,733 | €2,128 | -€605 | -22.1% |
| Recurring financial charges | 65 | €2,733 | €2,128 | -€605 | -22.1% |
| Profit (loss) for the period before taxes | 9903 | €21,168 | €16,905 | -€4,263 | -20.1% |
| Income taxes | 67/77 | €9,617 | €8,144 | -€1,474 | -15.3% |
| Profit (loss) for the period | 9904 | €11,551 | €8,761 | -€2,790 | -24.2% |
| Profit (loss) for the period to be appropriated | 9905 | €11,551 | €8,761 | -€2,790 | -24.2% |
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 2 October 2026 via checked.be.