OLEX: 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.
OLEX
Largest movements
- Cash +€57,260
up €57,260 (+344.9%), from €16,603 to €73,863
mainly Net result for the year (+€58,110) and Depreciation (+€31,337)
- Tangible fixed assets -€31,207
down €31,207 (-10.0%), from €313,569 to €282,361
of which Furniture and vehicles: -€21,719
- Deferred charges and accrued income -€5,470
down €5,470 (-100.0%), from €5,470 to €0
- Reserves +€58,110
new in 2025: €58,110
- Other debts -€24,105
down €24,105 (-28.8%), from €83,632 to €59,527
- Debts after one year -€20,016
down €20,016 (-9.0%), from €222,381 to €202,365
- Tax, wage and social debts +€7,003
up €7,003 (+264.1%), from €2,652 to €9,654
- Gross operating margin -€18,887
down €18,887 (-13.9%), from €135,610 to €116,724
- Depreciation +€18,121
up €18,121 (+137.1%), from €13,216 to €31,337
- Taxes +€2,602
up €2,602 (+17.6%), from €14,824 to €17,426
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 | €351,183 | €371,858 | +€20,674 | +5.9% |
| Formation expenses | 20 | €2,987 | €2,857 | -€130 | -4.3% |
| Fixed assets | 21/28 | €313,569 | €282,361 | -€31,207 | -10.0% |
| Tangible fixed assets | 22/27 | €313,569 | €282,361 | -€31,207 | -10.0% |
| Land and buildings | 22 | €210,016 | €200,896 | -€9,120 | -4.3% |
| Plant, machinery and equipment | 23 | €1,229 | €861 | -€368 | -29.9% |
| Furniture and vehicles | 24 | €102,323 | €80,604 | -€21,719 | -21.2% |
| Current assets | 29/58 | €34,628 | €86,640 | +€52,012 | +150.2% |
| Amounts receivable within one year | 40/41 | €12,555 | €12,777 | +€222 | +1.8% |
| Trade receivables | 40 | €775 | €0 | -€775 | -100.0% |
| Other amounts receivable | 41 | €11,780 | €12,777 | +€997 | +8.5% |
| Cash at bank and in hand | 54/58 | €16,603 | €73,863 | +€57,260 | +344.9% |
| Deferred charges and accrued income | 490/1 | €5,470 | €0 | -€5,470 | -100.0% |
| Total equity and liabilities | 10/49 | €351,183 | €371,858 | +€20,674 | +5.9% |
| Equity | 10/15 | €18,600 | €76,710 | +€58,110 | +312.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €58,110 | +€58,110 | |
| Distributable reserves | 133 | - | €58,110 | +€58,110 | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €332,583 | €295,147 | -€37,436 | -11.3% |
| Amounts payable after more than one year | 17 | €222,381 | €202,365 | -€20,016 | -9.0% |
| Financial debts | 170/4 | €222,381 | €202,365 | -€20,016 | -9.0% |
| Amounts payable within one year | 42/48 | €109,283 | €92,782 | -€16,501 | -15.1% |
| Current portion of amounts payable after more than one year | 42 | €19,718 | €20,016 | +€297 | +1.5% |
| Trade debts | 44 | €3,281 | €3,586 | +€305 | +9.3% |
| Suppliers | 440/4 | €3,281 | €3,586 | +€305 | +9.3% |
| Taxes, remuneration and social security | 45 | €2,652 | €9,654 | +€7,003 | +264.1% |
| Taxes | 450/3 | €2,652 | €9,654 | +€7,003 | +264.1% |
| Other amounts payable | 47/48 | €83,632 | €59,527 | -€24,105 | -28.8% |
| Accrued charges and deferred income | 492/3 | €919 | €0 | -€919 | -100.0% |
| Non-recurring operating income | 76A | - | €36 | +€36 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,216 | €31,337 | +€18,121 | +137.1% |
| Other operating charges | 640/8 | €668 | €924 | +€257 | +38.4% |
| Non-recurring operating charges | 66A | €41,587 | €0 | -€41,587 | -100.0% |
| Gross operating margin | 9900 | €135,610 | €116,724 | -€18,887 | -13.9% |
| Operating profit (loss) | 9901 | €80,139 | €84,462 | +€4,323 | +5.4% |
| Financial income | 75/76B | €574 | €168 | -€406 | -70.7% |
| Recurring financial income | 75 | €574 | €168 | -€406 | -70.7% |
| Financial charges | 65/66B | €9,279 | €9,095 | -€184 | -2.0% |
| Recurring financial charges | 65 | €9,279 | €9,095 | -€184 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | €71,434 | €75,536 | +€4,102 | +5.7% |
| Income taxes | 67/77 | €14,824 | €17,426 | +€2,602 | +17.6% |
| Profit (loss) for the period | 9904 | €56,610 | €58,110 | +€1,500 | +2.6% |
| Profit (loss) for the period to be appropriated | 9905 | €56,610 | €58,110 | +€1,500 | +2.6% |
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 4 October 2026 via checked.be.