OLAERTS: 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.
OLAERTS
Largest movements
- Tangible fixed assets -€49,128
down €49,128 (-5.7%), from €865,309 to €816,181
of which Land and buildings: -€65,051
- Receivables within one year -€30,416
down €30,416 (-5.8%), from €525,124 to €494,708
of which Trade receivables: -€49,805
- Stocks and contracts -€20,896
down €20,896 (-9.9%), from €211,221 to €190,325
- Debts after one year -€67,324
down €67,324 (-16.7%), from €403,031 to €335,708
of which Financial debts: -€60,166
- Tax, wage and social debts -€17,913
down €17,913 (-30.0%), from €59,631 to €41,718
of which Taxes: -€14,643
- Gross operating margin -€85,138
down €85,138 (-13.9%), from €610,961 to €525,823
- Taxes -€18,480
down €18,480 (-82.6%), from €22,376 to €3,896
- Staff costs -€10,513
down €10,513 (-2.6%), from €407,821 to €397,308
- Depreciation +€6,406
up €6,406 (+6.7%), from €94,949 to €101,354
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 | €1,655,992 | €1,539,489 | -€116,503 | -7.0% |
| Fixed assets | 21/28 | €865,359 | €816,231 | -€49,128 | -5.7% |
| Tangible fixed assets | 22/27 | €865,309 | €816,181 | -€49,128 | -5.7% |
| Land and buildings | 22 | €773,474 | €708,424 | -€65,051 | -8.4% |
| Plant, machinery and equipment | 23 | €63,534 | €83,370 | +€19,836 | +31.2% |
| Furniture and vehicles | 24 | €28,300 | €24,387 | -€3,913 | -13.8% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €790,633 | €723,259 | -€67,374 | -8.5% |
| Stocks and contracts in progress | 3 | €211,221 | €190,325 | -€20,896 | -9.9% |
| Stocks | 30/36 | €211,221 | €190,325 | -€20,896 | -9.9% |
| Amounts receivable within one year | 40/41 | €525,124 | €494,708 | -€30,416 | -5.8% |
| Trade receivables | 40 | €521,298 | €471,493 | -€49,805 | -9.6% |
| Other amounts receivable | 41 | €3,826 | €23,215 | +€19,389 | +507% |
| Current investments | 50/53 | €0 | - | -€0 | |
| Cash at bank and in hand | 54/58 | €50,387 | €34,105 | -€16,282 | -32.3% |
| Deferred charges and accrued income | 490/1 | €3,901 | €4,120 | +€220 | +5.6% |
| Total equity and liabilities | 10/49 | €1,655,992 | €1,539,489 | -€116,503 | -7.0% |
| Equity | 10/15 | €746,862 | €753,998 | +€7,135 | +1.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €726,862 | €733,998 | +€7,135 | +1.0% |
| Distributable reserves | 133 | €726,862 | €733,998 | +€7,135 | +1.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €909,129 | €785,492 | -€123,638 | -13.6% |
| Amounts payable after more than one year | 17 | €403,031 | €335,708 | -€67,324 | -16.7% |
| Financial debts | 170/4 | €78,166 | €18,000 | -€60,166 | -77.0% |
| Trade debts | 175 | €324,865 | €317,708 | -€7,157 | -2.2% |
| Amounts payable within one year | 42/48 | €506,091 | €449,784 | -€56,307 | -11.1% |
| Current portion of amounts payable after more than one year | 42 | €68,500 | €60,166 | -€8,334 | -12.2% |
| Trade debts | 44 | €136,557 | €121,218 | -€15,339 | -11.2% |
| Suppliers | 440/4 | €136,557 | €121,218 | -€15,339 | -11.2% |
| Taxes, remuneration and social security | 45 | €59,631 | €41,718 | -€17,913 | -30.0% |
| Taxes | 450/3 | €14,643 | €0 | -€14,643 | -100% |
| Remuneration and social security | 454/9 | €44,988 | €41,718 | -€3,270 | -7.3% |
| Other amounts payable | 47/48 | €241,402 | €226,682 | -€14,721 | -6.1% |
| Accrued charges and deferred income | 492/3 | €7 | €0 | -€7 | -100% |
| Remuneration, social security and pensions | 62 | €407,821 | €397,308 | -€10,513 | -2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,949 | €101,354 | +€6,406 | +6.7% |
| Other operating charges | 640/8 | €9,813 | €11,628 | +€1,814 | +18.5% |
| Gross operating margin | 9900 | €610,961 | €525,823 | -€85,138 | -13.9% |
| Operating profit (loss) | 9901 | €98,378 | €15,533 | -€82,845 | -84.2% |
| Financial income | 75/76B | €9,110 | €9,257 | +€146 | +1.6% |
| Recurring financial income | 75 | €9,110 | €9,257 | +€146 | +1.6% |
| Financial charges | 65/66B | €13,622 | €13,758 | +€136 | +1.0% |
| Recurring financial charges | 65 | €13,622 | €13,758 | +€136 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | €93,866 | €11,032 | -€82,834 | -88.2% |
| Income taxes | 67/77 | €22,376 | €3,896 | -€18,480 | -82.6% |
| Profit (loss) for the period | 9904 | €71,490 | €7,135 | -€64,355 | -90.0% |
| Profit (loss) for the period to be appropriated | 9905 | €71,490 | €7,135 | -€64,355 | -90.0% |
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 23 October 2026 via checked.be.