OFR: 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.
OFR
Largest movements
- Tangible fixed assets +€339,904
up €339,904 (+466%), from €72,938 to €412,842
of which Land and buildings: +€339,350
- Cash -€10,033
down €10,033 (-37.3%), from €26,895 to €16,862
mainly Investment in fixed assets (net) (-€357,417) and Trade debts (-€1,075)
- Receivables within one year -€6,963
down €6,963 (-65.6%), from €10,609 to €3,646
of which Trade receivables: -€4,605
- Debts after one year +€267,954
up €267,954 (+569%), from €47,105 to €315,059
- Other debts +€23,495
up €23,495 (+2,932%), from €801 to €24,296
- Current portion of long-term debt +€19,029
up €19,029 (+145%), from €13,144 to €32,173
- Profit (loss) carried forward +€7,512
up €7,512 (+21.6%), from €34,710 to €42,222
- Tax, wage and social debts +€5,993
up €5,993 (+57.5%), from €10,424 to €16,417
- Staff costs +€15,711
new in 2025: €15,711
- Depreciation +€9,491
up €9,491 (+118%), from €8,022 to €17,513
- Gross operating margin -€9,178
down €9,178 (-16.4%), from €55,975 to €46,798
- Taxes -€7,248
down €7,248 (-69.5%), from €10,425 to €3,177
- Financial charges +€937
up €937 (+61.6%), from €1,521 to €2,458
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 | €110,442 | €433,350 | +€322,908 | +292% |
| Fixed assets | 21/28 | €72,938 | €412,842 | +€339,904 | +466% |
| Tangible fixed assets | 22/27 | €72,938 | €412,842 | +€339,904 | +466% |
| Land and buildings | 22 | - | €339,350 | +€339,350 | |
| Plant, machinery and equipment | 23 | €20,417 | €17,629 | -€2,788 | -13.7% |
| Furniture and vehicles | 24 | €52,521 | €55,863 | +€3,342 | +6.4% |
| Current assets | 29/58 | €37,504 | €20,508 | -€16,996 | -45.3% |
| Amounts receivable within one year | 40/41 | €10,609 | €3,646 | -€6,963 | -65.6% |
| Trade receivables | 40 | €7,699 | €3,094 | -€4,605 | -59.8% |
| Other amounts receivable | 41 | €2,910 | €552 | -€2,357 | -81.0% |
| Cash at bank and in hand | 54/58 | €26,895 | €16,862 | -€10,033 | -37.3% |
| Total equity and liabilities | 10/49 | €110,442 | €433,350 | +€322,908 | +292% |
| Equity | 10/15 | €37,710 | €45,222 | +€7,512 | +19.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,710 | €42,222 | +€7,512 | +21.6% |
| Amounts payable | 17/49 | €72,732 | €388,128 | +€315,396 | +434% |
| Amounts payable after more than one year | 17 | €47,105 | €315,059 | +€267,954 | +569% |
| Financial debts | 170/4 | €47,105 | €315,059 | +€267,954 | +569% |
| Amounts payable within one year | 42/48 | €25,627 | €73,069 | +€47,442 | +185% |
| Current portion of amounts payable after more than one year | 42 | €13,144 | €32,173 | +€19,029 | +145% |
| Trade debts | 44 | €1,259 | €184 | -€1,075 | -85.4% |
| Suppliers | 440/4 | €1,259 | €184 | -€1,075 | -85.4% |
| Taxes, remuneration and social security | 45 | €10,424 | €16,417 | +€5,993 | +57.5% |
| Taxes | 450/3 | €10,424 | €16,417 | +€5,993 | +57.5% |
| Other amounts payable | 47/48 | €801 | €24,296 | +€23,495 | +2,932% |
| Remuneration, social security and pensions | 62 | - | €15,711 | +€15,711 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,022 | €17,513 | +€9,491 | +118% |
| Other operating charges | 640/8 | €1,303 | €505 | -€797 | -61.2% |
| Gross operating margin | 9900 | €55,975 | €46,798 | -€9,178 | -16.4% |
| Operating profit (loss) | 9901 | €46,651 | €13,069 | -€33,582 | -72.0% |
| Financial income | 75/76B | €5 | €79 | +€74 | +1,378% |
| Recurring financial income | 75 | €5 | €79 | +€74 | +1,378% |
| Financial charges | 65/66B | €1,521 | €2,458 | +€937 | +61.6% |
| Recurring financial charges | 65 | €1,521 | €2,458 | +€937 | +61.6% |
| Profit (loss) for the period before taxes | 9903 | €45,135 | €10,689 | -€34,446 | -76.3% |
| Income taxes | 67/77 | €10,425 | €3,177 | -€7,248 | -69.5% |
| Profit (loss) for the period | 9904 | €34,710 | €7,512 | -€27,198 | -78.4% |
| Profit (loss) for the period to be appropriated | 9905 | €34,710 | €7,512 | -€27,198 | -78.4% |
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 13 October 2026 via checked.be.