Olenarc: 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.
Olenarc
Largest movements
- Cash +€180,681
up €180,681 (+872.0%), from €20,721 to €201,402
mainly Net result for the year (+€123,148) and Tax, wage and social debts (+€51,096)
- Receivables within one year -€20,343
no longer reported in 2025 (was €20,343)
- Tangible fixed assets +€18,013
up €18,013 (+521.5%), from €3,454 to €21,467
- Reserves +€123,147
up €123,147 (+456.7%), from €26,963 to €150,110
- Tax, wage and social debts +€51,096
up €51,096 (+388.7%), from €13,147 to €64,243
of which Taxes: +€49,521
- Trade debts +€6,292
up €6,292 (+521.7%), from €1,206 to €7,498
- Gross operating margin +€139,016
up €139,016 (+400.8%), from €34,681 to €173,697
- Taxes +€31,504
up €31,504 (+431.0%), from €7,310 to €38,814
- Depreciation +€10,110
up €10,110 (+2553.0%), from €396 to €10,506
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 | €44,518 | €224,351 | +€179,833 | +404.0% |
| Fixed assets | 21/28 | €3,454 | €21,467 | +€18,013 | +521.5% |
| Tangible fixed assets | 22/27 | €3,454 | €21,467 | +€18,013 | +521.5% |
| Furniture and vehicles | 24 | €3,454 | €21,467 | +€18,013 | +521.5% |
| Current assets | 29/58 | €41,064 | €202,884 | +€161,820 | +394.1% |
| Amounts receivable within one year | 40/41 | €20,343 | - | -€20,343 | |
| Trade receivables | 40 | €20,343 | - | -€20,343 | |
| Cash at bank and in hand | 54/58 | €20,721 | €201,402 | +€180,681 | +872.0% |
| Deferred charges and accrued income | 490/1 | - | €1,482 | +€1,482 | |
| Total equity and liabilities | 10/49 | €44,518 | €224,351 | +€179,833 | +404.0% |
| Equity | 10/15 | €29,463 | €152,610 | +€123,147 | +418.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €26,963 | €150,110 | +€123,147 | +456.7% |
| Distributable reserves | 133 | €26,963 | €150,110 | +€123,147 | +456.7% |
| Amounts payable | 17/49 | €15,055 | €71,741 | +€56,686 | +376.5% |
| Amounts payable within one year | 42/48 | €14,353 | €71,741 | +€57,388 | +399.8% |
| Trade debts | 44 | €1,206 | €7,498 | +€6,292 | +521.7% |
| Suppliers | 440/4 | €1,206 | €7,498 | +€6,292 | +521.7% |
| Taxes, remuneration and social security | 45 | €13,147 | €64,243 | +€51,096 | +388.7% |
| Taxes | 450/3 | €13,147 | €62,668 | +€49,521 | +376.7% |
| Remuneration and social security | 454/9 | - | €1,575 | +€1,575 | |
| Accrued charges and deferred income | 492/3 | €702 | - | -€702 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €396 | €10,506 | +€10,110 | +2553.0% |
| Other operating charges | 640/8 | - | €1,138 | +€1,138 | |
| Gross operating margin | 9900 | €34,681 | €173,697 | +€139,016 | +400.8% |
| Operating profit (loss) | 9901 | €34,285 | €162,053 | +€127,768 | +372.7% |
| Financial charges | 65/66B | €12 | €91 | +€79 | +658.3% |
| Recurring financial charges | 65 | €12 | €91 | +€79 | +658.3% |
| Profit (loss) for the period before taxes | 9903 | €34,273 | €161,962 | +€127,689 | +372.6% |
| Income taxes | 67/77 | €7,310 | €38,814 | +€31,504 | +431.0% |
| Profit (loss) for the period | 9904 | €26,963 | €123,148 | +€96,185 | +356.7% |
| Profit (loss) for the period to be appropriated | 9905 | €26,963 | €123,148 | +€96,185 | +356.7% |
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 3 October 2026 via checked.be.