OLIPEL: 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.
OLIPEL
Largest movements
- Stocks and contracts -€155,631
down €155,631 (-93.2%), from €166,943 to €11,312
- Receivables within one year +€55,020
up €55,020 (+42.9%), from €128,305 to €183,325
of which Trade receivables: +€55,020
- Tangible fixed assets +€11,666
up €11,666 (+21.1%), from €55,419 to €67,085
- Cash +€8,927
up €8,927 (+72.1%), from €12,384 to €21,310
mainly Stocks and contracts (+€155,631) and Tax, wage and social debts (+€4,949)
- Profit (loss) carried forward -€42,891
down €42,891 (-57.2%), from -€74,995 to -€117,887
- Trade debts -€41,513
down €41,513 (-96.3%), from €43,087 to €1,574
- Tax, wage and social debts +€4,949
up €4,949 (+514.9%), from €961 to €5,910
- Write-downs +€55,794
new in 2025: €55,794
- Gross operating margin +€39,927
up €39,927 (+260.9%), from €15,301 to €55,228
- Depreciation -€28,291
no longer reported in 2025 (was €28,291)
- Financial income +€720
new in 2025: €720
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 | €363,781 | €283,764 | -€80,018 | -22.0% |
| Fixed assets | 21/28 | €56,150 | €67,816 | +€11,666 | +20.8% |
| Intangible fixed assets | 21 | €731 | €731 | = | 0.0% |
| Tangible fixed assets | 22/27 | €55,419 | €67,085 | +€11,666 | +21.1% |
| Plant, machinery and equipment | 23 | €55,419 | €67,085 | +€11,666 | +21.1% |
| Current assets | 29/58 | €307,631 | €215,947 | -€91,684 | -29.8% |
| Stocks and contracts in progress | 3 | €166,943 | €11,312 | -€155,631 | -93.2% |
| Stocks | 30/36 | €166,943 | €11,312 | -€155,631 | -93.2% |
| Amounts receivable within one year | 40/41 | €128,305 | €183,325 | +€55,020 | +42.9% |
| Trade receivables | 40 | €7,460 | €62,480 | +€55,020 | +737.5% |
| Other amounts receivable | 41 | €120,845 | €120,845 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €12,384 | €21,310 | +€8,927 | +72.1% |
| Total equity and liabilities | 10/49 | €363,781 | €283,764 | -€80,018 | -22.0% |
| Equity | 10/15 | €25,005 | -€17,887 | -€42,891 | |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€74,995 | -€117,887 | -€42,891 | -57.2% |
| Amounts payable | 17/49 | €338,777 | €301,650 | -€37,126 | -11.0% |
| Amounts payable within one year | 42/48 | €338,777 | €301,650 | -€37,126 | -11.0% |
| Trade debts | 44 | €43,087 | €1,574 | -€41,513 | -96.3% |
| Suppliers | 440/4 | €43,087 | €1,574 | -€41,513 | -96.3% |
| Taxes, remuneration and social security | 45 | €961 | €5,910 | +€4,949 | +514.9% |
| Taxes | 450/3 | €961 | €5,910 | +€4,949 | +514.9% |
| Other amounts payable | 47/48 | €294,728 | €294,166 | -€562 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,291 | - | -€28,291 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €55,794 | +€55,794 | |
| Other operating charges | 640/8 | €387 | €169 | -€219 | -56.5% |
| Non-recurring operating charges | 66A | - | €42,311 | +€42,311 | |
| Gross operating margin | 9900 | €15,301 | €55,228 | +€39,927 | +260.9% |
| Operating profit (loss) | 9901 | -€13,377 | -€43,045 | -€29,668 | -221.8% |
| Financial income | 75/76B | - | €720 | +€720 | |
| Recurring financial income | 75 | - | €720 | +€720 | |
| Financial charges | 65/66B | €510 | €566 | +€56 | +11.0% |
| Recurring financial charges | 65 | €510 | €566 | +€56 | +11.0% |
| Profit (loss) for the period before taxes | 9903 | -€13,888 | -€42,891 | -€29,004 | -208.8% |
| Profit (loss) for the period | 9904 | -€13,888 | -€42,891 | -€29,004 | -208.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,888 | -€42,891 | -€29,004 | -208.8% |
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 28 September 2026 via checked.be.