OE39 Developments: 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.
OE39 Developments
Largest movements
- Cash +€43,343
up €43,343 (+107.3%), from €40,381 to €83,724
mainly Trade debts (+€62,095) and Net result for the year (+€21,608)
- Receivables within one year +€24,745
up €24,745 (+112.5%), from €22,004 to €46,749
of which Trade receivables: +€12,961
- Stocks and contracts +€8,595
new in 2025: €8,595
- Tangible fixed assets -€5,622
down €5,622 (-3.2%), from €176,508 to €170,886
of which Land and buildings: -€7,757
- Trade debts +€62,095
up €62,095 (+418.1%), from €14,850 to €76,946
- Reserves +€22,000
up €22,000 (+59.5%), from €37,000 to €59,000
- Tax, wage and social debts -€14,423
down €14,423 (-56.8%), from €25,389 to €10,966
of which Taxes: -€14,996
- Gross operating margin +€31,944
up €31,944 (+59.7%), from €53,489 to €85,433
- Staff costs +€19,794
up €19,794 (+494.1%), from €4,006 to €23,800
- Other operating charges +€5,293
up €5,293 (+157.2%), from €3,368 to €8,661
- Taxes +€3,827
up €3,827 (+65.1%), from €5,875 to €9,702
- Depreciation +€3,477
up €3,477 (+19.3%), from €17,995 to €21,472
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 | €238,892 | €310,071 | +€71,178 | +29.8% |
| Fixed assets | 21/28 | €176,508 | €170,886 | -€5,622 | -3.2% |
| Tangible fixed assets | 22/27 | €176,508 | €170,886 | -€5,622 | -3.2% |
| Land and buildings | 22 | €138,375 | €130,619 | -€7,757 | -5.6% |
| Plant, machinery and equipment | 23 | €2,149 | €1,124 | -€1,025 | -47.7% |
| Furniture and vehicles | 24 | €35,983 | €39,144 | +€3,160 | +8.8% |
| Current assets | 29/58 | €62,385 | €139,185 | +€76,800 | +123.1% |
| Stocks and contracts in progress | 3 | - | €8,595 | +€8,595 | |
| Stocks | 30/36 | - | €8,595 | +€8,595 | |
| Amounts receivable within one year | 40/41 | €22,004 | €46,749 | +€24,745 | +112.5% |
| Trade receivables | 40 | €21,933 | €34,894 | +€12,961 | +59.1% |
| Other amounts receivable | 41 | €71 | €11,855 | +€11,784 | +16643.9% |
| Cash at bank and in hand | 54/58 | €40,381 | €83,724 | +€43,343 | +107.3% |
| Deferred charges and accrued income | 490/1 | - | €116 | +€116 | |
| Total equity and liabilities | 10/49 | €238,892 | €310,071 | +€71,178 | +29.8% |
| Equity | 10/15 | €138,097 | €159,705 | +€21,608 | +15.6% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €37,000 | €59,000 | +€22,000 | +59.5% |
| Distributable reserves | 133 | €37,000 | €59,000 | +€22,000 | +59.5% |
| Profit (loss) carried forward | 14 | €1,097 | €705 | -€392 | -35.7% |
| Amounts payable | 17/49 | €100,795 | €150,366 | +€49,570 | +49.2% |
| Amounts payable within one year | 42/48 | €100,795 | €150,366 | +€49,570 | +49.2% |
| Trade debts | 44 | €14,850 | €76,946 | +€62,095 | +418.1% |
| Suppliers | 440/4 | €14,850 | €76,946 | +€62,095 | +418.1% |
| Advances received on contracts in progress | 46 | €4,071 | €7,143 | +€3,073 | +75.5% |
| Taxes, remuneration and social security | 45 | €25,389 | €10,966 | -€14,423 | -56.8% |
| Taxes | 450/3 | €24,192 | €9,196 | -€14,996 | -62.0% |
| Remuneration and social security | 454/9 | €1,197 | €1,770 | +€573 | +47.9% |
| Other amounts payable | 47/48 | €56,486 | €55,312 | -€1,174 | -2.1% |
| Remuneration, social security and pensions | 62 | €4,006 | €23,800 | +€19,794 | +494.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,995 | €21,472 | +€3,477 | +19.3% |
| Other operating charges | 640/8 | €3,368 | €8,661 | +€5,293 | +157.2% |
| Gross operating margin | 9900 | €53,489 | €85,433 | +€31,944 | +59.7% |
| Operating profit (loss) | 9901 | €28,119 | €31,499 | +€3,380 | +12.0% |
| Financial income | 75/76B | €9 | €9 | +€1 | +6.9% |
| Recurring financial income | 75 | €9 | €9 | +€1 | +6.9% |
| Financial charges | 65/66B | €261 | €199 | -€62 | -23.8% |
| Recurring financial charges | 65 | €261 | €199 | -€62 | -23.8% |
| Profit (loss) for the period before taxes | 9903 | €27,867 | €31,310 | +€3,442 | +12.4% |
| Income taxes | 67/77 | €5,875 | €9,702 | +€3,827 | +65.1% |
| Profit (loss) for the period | 9904 | €21,992 | €21,608 | -€384 | -1.7% |
| Profit (loss) for the period to be appropriated | 9905 | €21,992 | €21,608 | -€384 | -1.7% |
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 29 September 2026 via checked.be.