OLAF 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.
OLAF PROJECTS
Largest movements
- Cash -€173,239
down €173,239 (-74.6%), from €232,348 to €59,109
mainly Contributions, distributions and other (-€125,000) and Other debts (-€123,552)
- Receivables within one year +€51,774
up €51,774 (+35.5%), from €145,907 to €197,682
of which Trade receivables: +€61,287
- Tangible fixed assets -€17,935
down €17,935 (-18.9%), from €94,896 to €76,960
- Other debts -€123,552
down €123,552 (-49.7%), from €248,552 to €125,000
- Debts after one year -€11,696
down €11,696 (-25.5%), from €45,910 to €34,214
- Accrued charges and deferred income -€11,087
no longer reported in 2025 (was €11,087)
- Gross operating margin -€124,084
down €124,084 (-39.7%), from €312,286 to €188,201
- Taxes -€35,432
down €35,432 (-48.0%), from €73,820 to €38,387
- Depreciation +€14,284
up €14,284 (+216.4%), from €6,600 to €20,884
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 | €475,771 | €335,725 | -€140,045 | -29.4% |
| Fixed assets | 21/28 | €94,896 | €76,960 | -€17,935 | -18.9% |
| Tangible fixed assets | 22/27 | €94,896 | €76,960 | -€17,935 | -18.9% |
| Furniture and vehicles | 24 | €94,896 | €76,960 | -€17,935 | -18.9% |
| Current assets | 29/58 | €380,875 | €258,765 | -€122,110 | -32.1% |
| Amounts receivable within one year | 40/41 | €145,907 | €197,682 | +€51,774 | +35.5% |
| Trade receivables | 40 | €132,896 | €194,183 | +€61,287 | +46.1% |
| Other amounts receivable | 41 | €13,012 | €3,499 | -€9,513 | -73.1% |
| Cash at bank and in hand | 54/58 | €232,348 | €59,109 | -€173,239 | -74.6% |
| Deferred charges and accrued income | 490/1 | €2,619 | €1,974 | -€646 | -24.7% |
| Total equity and liabilities | 10/49 | €475,771 | €335,725 | -€140,045 | -29.4% |
| Equity | 10/15 | €66,578 | €66,934 | +€357 | +0.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €48,028 | €48,028 | = | 0.0% |
| Distributable reserves | 133 | €48,028 | €48,028 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €357 | +€357 | |
| Amounts payable | 17/49 | €409,193 | €268,791 | -€140,402 | -34.3% |
| Amounts payable after more than one year | 17 | €45,910 | €34,214 | -€11,696 | -25.5% |
| Financial debts | 170/4 | €45,910 | €34,214 | -€11,696 | -25.5% |
| Amounts payable within one year | 42/48 | €352,197 | €234,577 | -€117,620 | -33.4% |
| Current portion of amounts payable after more than one year | 42 | €11,318 | €11,233 | -€85 | -0.8% |
| Trade debts | 44 | €370 | €2,609 | +€2,239 | +605.3% |
| Suppliers | 440/4 | €370 | €2,609 | +€2,239 | +605.3% |
| Taxes, remuneration and social security | 45 | €91,957 | €95,735 | +€3,778 | +4.1% |
| Taxes | 450/3 | €91,957 | €95,735 | +€3,778 | +4.1% |
| Other amounts payable | 47/48 | €248,552 | €125,000 | -€123,552 | -49.7% |
| Accrued charges and deferred income | 492/3 | €11,087 | - | -€11,087 | |
| Non-recurring operating income | 76A | €40,000 | - | -€40,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,600 | €20,884 | +€14,284 | +216.4% |
| Other operating charges | 640/8 | €1,095 | €1,678 | +€582 | +53.2% |
| Gross operating margin | 9900 | €312,286 | €188,201 | -€124,084 | -39.7% |
| Operating profit (loss) | 9901 | €304,591 | €165,640 | -€138,951 | -45.6% |
| Financial income | 75/76B | €574 | €5 | -€569 | -99.1% |
| Recurring financial income | 75 | €574 | €5 | -€569 | -99.1% |
| Financial charges | 65/66B | €834 | €1,901 | +€1,066 | +127.8% |
| Recurring financial charges | 65 | €834 | €1,901 | +€1,066 | +127.8% |
| Profit (loss) for the period before taxes | 9903 | €304,330 | €163,744 | -€140,586 | -46.2% |
| Income taxes | 67/77 | €73,820 | €38,387 | -€35,432 | -48.0% |
| Profit (loss) for the period | 9904 | €230,510 | €125,357 | -€105,153 | -45.6% |
| Profit (loss) for the period to be appropriated | 9905 | €230,510 | €125,357 | -€105,153 | -45.6% |
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.