OGER CYCLES: 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.
OGER CYCLES
Largest movements
- Tangible fixed assets +€241,858
up €241,858 (+54.5%), from €444,156 to €686,014
of which Land and buildings: +€242,813
- Stocks and contracts -€51,271
down €51,271 (-5.1%), from €1.0m to €953,057
- Receivables within one year +€48,702
up €48,702 (+55.4%), from €87,909 to €136,611
of which Trade receivables: +€31,354
- Cash -€21,548
down €21,548 (-34.9%), from €61,738 to €40,189
mainly Investment in fixed assets (net) (-€267,888) and Advances received (-€52,432)
- Trade debts +€167,053
up €167,053 (+123.4%), from €135,380 to €302,433
- Debts after one year +€157,973
up €157,973 (+35.4%), from €446,368 to €604,340
- Advances received -€52,432
no longer reported in 2025 (was €52,432)
- Current portion of long-term debt -€42,816
down €42,816 (-32.9%), from €130,274 to €87,459
- Other debts -€24,716
down €24,716 (-81.8%), from €30,203 to €5,487
- Gross operating margin -€13,814
down €13,814 (-6.4%), from €216,461 to €202,647
- Depreciation -€10,230
down €10,230 (-28.2%), from €36,260 to €26,030
- Taxes -€3,917
down €3,917 (-71.8%), from €5,459 to €1,542
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 | €1,598,348 | €1,816,089 | +€217,741 | +13.6% |
| Fixed assets | 21/28 | €444,372 | €686,230 | +€241,858 | +54.4% |
| Tangible fixed assets | 22/27 | €444,156 | €686,014 | +€241,858 | +54.5% |
| Land and buildings | 22 | €442,851 | €685,664 | +€242,813 | +54.8% |
| Plant, machinery and equipment | 23 | €624 | €350 | -€273 | -43.8% |
| Furniture and vehicles | 24 | €681 | - | -€681 | |
| Financial fixed assets | 28 | €216 | €216 | = | 0.0% |
| Current assets | 29/58 | €1,153,976 | €1,129,858 | -€24,118 | -2.1% |
| Stocks and contracts in progress | 3 | €1,004,329 | €953,057 | -€51,271 | -5.1% |
| Stocks | 30/36 | €1,004,329 | €953,057 | -€51,271 | -5.1% |
| Amounts receivable within one year | 40/41 | €87,909 | €136,611 | +€48,702 | +55.4% |
| Trade receivables | 40 | €54,687 | €86,041 | +€31,354 | +57.3% |
| Other amounts receivable | 41 | €33,222 | €50,570 | +€17,348 | +52.2% |
| Cash at bank and in hand | 54/58 | €61,738 | €40,189 | -€21,548 | -34.9% |
| Total equity and liabilities | 10/49 | €1,598,348 | €1,816,089 | +€217,741 | +13.6% |
| Equity | 10/15 | €274,526 | €281,243 | +€6,717 | +2.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €254,526 | €261,243 | +€6,717 | +2.6% |
| Distributable reserves | 133 | €254,526 | €261,243 | +€6,717 | +2.6% |
| Amounts payable | 17/49 | €1,323,822 | €1,534,846 | +€211,024 | +15.9% |
| Amounts payable after more than one year | 17 | €446,368 | €604,340 | +€157,973 | +35.4% |
| Financial debts | 170/4 | €446,368 | €604,340 | +€157,973 | +35.4% |
| Amounts payable within one year | 42/48 | €877,455 | €930,506 | +€53,051 | +6.0% |
| Current portion of amounts payable after more than one year | 42 | €130,274 | €87,459 | -€42,816 | -32.9% |
| Financial debts | 43 | €456,667 | €450,000 | -€6,667 | -1.5% |
| Credit institutions | 430/8 | €456,667 | €450,000 | -€6,667 | -1.5% |
| Trade debts | 44 | €135,380 | €302,433 | +€167,053 | +123.4% |
| Suppliers | 440/4 | €135,380 | €302,433 | +€167,053 | +123.4% |
| Advances received on contracts in progress | 46 | €52,432 | - | -€52,432 | |
| Taxes, remuneration and social security | 45 | €72,499 | €85,128 | +€12,629 | +17.4% |
| Taxes | 450/3 | €72,391 | €81,806 | +€9,415 | +13.0% |
| Remuneration and social security | 454/9 | €107 | €3,322 | +€3,214 | +2994.5% |
| Other amounts payable | 47/48 | €30,203 | €5,487 | -€24,716 | -81.8% |
| Non-recurring operating income | 76A | - | €82,149 | +€82,149 | |
| Remuneration, social security and pensions | 62 | €105,195 | €103,562 | -€1,634 | -1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,260 | €26,030 | -€10,230 | -28.2% |
| Other operating charges | 640/8 | €14,545 | €16,604 | +€2,059 | +14.2% |
| Gross operating margin | 9900 | €216,461 | €202,647 | -€13,814 | -6.4% |
| Operating profit (loss) | 9901 | €60,461 | €56,451 | -€4,009 | -6.6% |
| Financial income | 75/76B | €5,016 | €4,077 | -€940 | -18.7% |
| Recurring financial income | 75 | €5,016 | €4,077 | -€940 | -18.7% |
| Financial charges | 65/66B | €51,887 | €52,269 | +€381 | +0.7% |
| Recurring financial charges | 65 | €51,887 | €52,269 | +€381 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €13,590 | €8,259 | -€5,331 | -39.2% |
| Income taxes | 67/77 | €5,459 | €1,542 | -€3,917 | -71.8% |
| Profit (loss) for the period | 9904 | €8,130 | €6,717 | -€1,413 | -17.4% |
| Profit (loss) for the period to be appropriated | 9905 | €8,130 | €6,717 | -€1,413 | -17.4% |
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 7 October 2026 via checked.be.