Oleander: 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.
Oleander
Largest movements
- Receivables within one year -€1.2m
down €1.2m (-89.0%), from €1.4m to €153,431
of which Other amounts receivable: -€1.2m
- Stocks and contracts -€169,023
down €169,023 (-18.8%), from €897,248 to €728,224
of which Stocks: -€205,768
- Cash +€110,274
up €110,274 (+55.2%), from €199,626 to €309,900
mainly Receivables within one year (+€1.2m) and Stocks and contracts (+€169,023)
- Deferred charges and accrued income -€57,546
down €57,546 (-67.4%), from €85,336 to €27,791
- Other debts -€1.3m
no longer reported in 2025 (was €1.3m)
- Trade debts -€99,441
down €99,441 (-18.8%), from €528,747 to €429,307
- Turnover -€464,019
down €464,019 (-66.4%), from €699,130 to €235,110
- Other operating income -€115,786
down €115,786 (-64.5%), from €179,622 to €63,837
- Services and other goods +€111,060
up €111,060 (+574%), from €19,349 to €130,409
- Write-downs -€85,156
down €85,156 (-1,319%), from -€6,455 to -€91,610
- Taxes -€45,032
down €45,032 (-95.5%), from €47,169 to €2,137
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 | €2,595,228 | €1,238,096 | -€1.4m | -52.3% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €18,750 | €18,750 | = | 0.0% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Financial fixed assets | 28 | €18,750 | €18,750 | = | 0.0% |
| Other financial fixed assets | 284/8 | €18,750 | €18,750 | = | 0.0% |
| Shares | 284 | €18,750 | €18,750 | = | 0.0% |
| Current assets | 29/58 | €2,576,478 | €1,219,346 | -€1.4m | -52.7% |
| Stocks and contracts in progress | 3 | €897,248 | €728,224 | -€169,023 | -18.8% |
| Stocks | 30/36 | €866,023 | €660,255 | -€205,768 | -23.8% |
| Property held for sale | 35 | €866,023 | €660,255 | -€205,768 | -23.8% |
| Contracts in progress | 37 | €31,225 | €67,970 | +€36,745 | +118% |
| Amounts receivable within one year | 40/41 | €1,394,268 | €153,431 | -€1.2m | -89.0% |
| Trade receivables | 40 | €7,118 | - | -€7,118 | |
| Other amounts receivable | 41 | €1,387,150 | €153,431 | -€1.2m | -88.9% |
| Cash at bank and in hand | 54/58 | €199,626 | €309,900 | +€110,274 | +55.2% |
| Deferred charges and accrued income | 490/1 | €85,336 | €27,791 | -€57,546 | -67.4% |
| Total equity and liabilities | 10/49 | €2,595,228 | €1,238,096 | -€1.4m | -52.3% |
| Equity | 10/15 | €782,487 | €787,554 | +€5,067 | +0.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €714,287 | €719,354 | +€5,067 | +0.7% |
| Amounts payable | 17/49 | €1,812,741 | €450,543 | -€1.4m | -75.1% |
| Amounts payable within one year | 42/48 | €1,812,741 | €450,543 | -€1.4m | -75.1% |
| Trade debts | 44 | €528,747 | €429,307 | -€99,441 | -18.8% |
| Suppliers | 440/4 | €528,747 | €429,307 | -€99,441 | -18.8% |
| Advances received on contracts in progress | 46 | €15,300 | - | -€15,300 | |
| Taxes, remuneration and social security | 45 | €18,694 | €21,236 | +€2,542 | +13.6% |
| Taxes | 450/3 | €18,694 | €21,236 | +€2,542 | +13.6% |
| Other amounts payable | 47/48 | €1,250,000 | - | -€1.3m | |
| Operating income | 70/76A | €162,708 | €38,313 | -€124,395 | -76.5% |
| Turnover | 70 | €699,130 | €235,110 | -€464,019 | -66.4% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€716,044 | -€260,634 | +€455,410 | +63.6% |
| Other operating income | 74 | €179,622 | €63,837 | -€115,786 | -64.5% |
| Operating charges | 60/66A | €48,252 | €59,635 | +€11,384 | +23.6% |
| Goods for resale, raw materials and consumables | 60 | €34,249 | €19,633 | -€14,616 | -42.7% |
| Purchases | 600/8 | €34,249 | €19,633 | -€14,616 | -42.7% |
| Services and other goods | 61 | €19,349 | €130,409 | +€111,060 | +574% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€6,455 | -€91,610 | -€85,156 | -1,319% |
| Other operating charges | 640/8 | €1,108 | €1,203 | +€95 | +8.6% |
| Operating profit (loss) | 9901 | €114,456 | -€21,322 | -€135,778 | |
| Financial income | 75/76B | €70,373 | €28,921 | -€41,453 | -58.9% |
| Recurring financial income | 75 | €70,373 | €28,921 | -€41,453 | -58.9% |
| Income from current assets | 751 | €70,373 | €28,921 | -€41,453 | -58.9% |
| Financial charges | 65/66B | €188 | €394 | +€207 | +110% |
| Recurring financial charges | 65 | €188 | €394 | +€207 | +110% |
| Other financial charges | 652/9 | €188 | €394 | +€207 | +110% |
| Profit (loss) for the period before taxes | 9903 | €184,642 | €7,204 | -€177,438 | -96.1% |
| Income taxes | 67/77 | €47,169 | €2,137 | -€45,032 | -95.5% |
| Taxes | 670/3 | €47,169 | €2,137 | -€45,032 | -95.5% |
| Profit (loss) for the period | 9904 | €137,473 | €5,067 | -€132,406 | -96.3% |
| Profit (loss) for the period to be appropriated | 9905 | €137,473 | €5,067 | -€132,406 | -96.3% |
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 16 October 2026 via checked.be.