OLIFRA: 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.
OLIFRA
Largest movements
- Tangible fixed assets +€1.7m
up €1.7m (+3,773%), from €46,386 to €1.8m
of which Land and buildings: +€1.8m
- Stocks and contracts -€1.1m
no longer reported in 2025 (was €1.1m)
- Receivables after one year +€150,000
new in 2025: €150,000
- Cash +€21,860
up €21,860 (+424%), from €5,154 to €27,014
- Debts after one year +€1.8m
new in 2025: €1.8m
- Short-term financial debts -€852,729
down €852,729 (-98.0%), from €870,081 to €17,352
- Reserves -€125,069
down €125,069 (-49.1%), from €254,546 to €129,476
of which Distributable reserves: -€123,209
- Current portion of long-term debt +€58,748
up €58,748 (+745%), from €7,881 to €66,629
- Trade debts -€42,840
down €42,840 (-80.6%), from €53,126 to €10,286
- Gross operating margin -€87,314
down €87,314 (-51.2%), from €170,577 to €83,263
- Depreciation +€54,358
up €54,358 (+422%), from €12,886 to €67,243
- Financial charges +€53,174
up €53,174 (+133%), from €40,019 to €93,193
- Taxes -€25,077
down €25,077 (-97.9%), from €25,627 to €551
- Other operating charges +€11,675
up €11,675 (+543%), from €2,149 to €13,824
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,311,632 | €2,123,400 | +€811,768 | +61.9% |
| Fixed assets | 21/28 | €66,386 | €1,816,310 | +€1.7m | +2,636% |
| Tangible fixed assets | 22/27 | €46,386 | €1,796,310 | +€1.7m | +3,773% |
| Land and buildings | 22 | - | €1,757,897 | +€1.8m | |
| Plant, machinery and equipment | 23 | €4,295 | €5,614 | +€1,320 | +30.7% |
| Other tangible fixed assets | 26 | €42,092 | €32,799 | -€9,293 | -22.1% |
| Financial fixed assets | 28 | €20,000 | €20,000 | = | 0.0% |
| Current assets | 29/58 | €1,245,246 | €307,091 | -€938,155 | -75.3% |
| Amounts receivable after more than one year | 29 | - | €150,000 | +€150,000 | |
| Other amounts receivable | 291 | - | €150,000 | +€150,000 | |
| Stocks and contracts in progress | 3 | €1,092,864 | - | -€1.1m | |
| Stocks | 30/36 | €1,092,864 | - | -€1.1m | |
| Amounts receivable within one year | 40/41 | €116,605 | €100,378 | -€16,227 | -13.9% |
| Trade receivables | 40 | €116,605 | €85,852 | -€30,753 | -26.4% |
| Other amounts receivable | 41 | - | €14,527 | +€14,527 | |
| Current investments | 50/53 | €25,582 | €25,855 | +€274 | +1.1% |
| Cash at bank and in hand | 54/58 | €5,154 | €27,014 | +€21,860 | +424% |
| Deferred charges and accrued income | 490/1 | €5,041 | €3,843 | -€1,198 | -23.8% |
| Total equity and liabilities | 10/49 | €1,311,632 | €2,123,400 | +€811,768 | +61.9% |
| Equity | 10/15 | €273,421 | €148,076 | -€125,345 | -45.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €254,546 | €129,476 | -€125,069 | -49.1% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €252,686 | €129,476 | -€123,209 | -48.8% |
| Profit (loss) carried forward | 14 | €275 | - | -€275 | |
| Amounts payable | 17/49 | €1,038,211 | €1,975,324 | +€937,113 | +90.3% |
| Amounts payable after more than one year | 17 | - | €1,751,649 | +€1.8m | |
| Financial debts | 170/4 | - | €1,751,649 | +€1.8m | |
| Amounts payable within one year | 42/48 | €1,038,211 | €218,475 | -€819,736 | -79.0% |
| Current portion of amounts payable after more than one year | 42 | €7,881 | €66,629 | +€58,748 | +745% |
| Financial debts | 43 | €870,081 | €17,352 | -€852,729 | -98.0% |
| Credit institutions | 430/8 | €870,081 | €17,352 | -€852,729 | -98.0% |
| Trade debts | 44 | €53,126 | €10,286 | -€42,840 | -80.6% |
| Suppliers | 440/4 | €53,126 | €10,286 | -€42,840 | -80.6% |
| Taxes, remuneration and social security | 45 | €44,954 | €30,731 | -€14,223 | -31.6% |
| Taxes | 450/3 | €42,758 | €30,731 | -€12,027 | -28.1% |
| Remuneration and social security | 454/9 | €2,196 | - | -€2,196 | |
| Other amounts payable | 47/48 | €62,168 | €93,478 | +€31,309 | +50.4% |
| Accrued charges and deferred income | 492/3 | - | €5,200 | +€5,200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,886 | €67,243 | +€54,358 | +422% |
| Other operating charges | 640/8 | €2,149 | €13,824 | +€11,675 | +543% |
| Non-recurring operating charges | 66A | €307 | - | -€307 | |
| Gross operating margin | 9900 | €170,577 | €83,263 | -€87,314 | -51.2% |
| Operating profit (loss) | 9901 | €155,235 | €2,195 | -€153,040 | -98.6% |
| Financial income | 75/76B | €166 | €1,498 | +€1,332 | +803% |
| Recurring financial income | 75 | €166 | €1,498 | +€1,332 | +803% |
| Financial charges | 65/66B | €40,019 | €93,193 | +€53,174 | +133% |
| Recurring financial charges | 65 | €40,019 | €93,193 | +€53,174 | +133% |
| Profit (loss) for the period before taxes | 9903 | €115,382 | -€89,500 | -€204,882 | |
| Income taxes | 67/77 | €25,627 | €551 | -€25,077 | -97.9% |
| Profit (loss) for the period | 9904 | €89,755 | -€90,050 | -€179,805 | |
| Profit (loss) for the period to be appropriated | 9905 | €89,755 | -€90,050 | -€179,805 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.