Olivander: 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.
Olivander
Largest movements
- Cash -€334,652
down €334,652 (-61.1%), from €547,740 to €213,088
mainly Contributions, distributions and other (-€478,694) and Debts after one year (-€14,075)
- Tangible fixed assets -€33,274
down €33,274 (-31.4%), from €105,895 to €72,621
- Receivables within one year -€23,429
down €23,429 (-77.2%), from €30,350 to €6,922
of which Other amounts receivable: -€19,241
- Stocks and contracts +€11,121
up €11,121 (+166%), from €6,682 to €17,803
of which Contracts in progress: +€11,948
- Reserves -€418,579
down €418,579 (-71.6%), from €584,431 to €165,852
- Other debts +€57,418
up €57,418 (+69,716%), from €82 to €57,500
- Debts after one year -€14,075
down €14,075 (-30.2%), from €46,566 to €32,491
- Trade debts +€11,281
up €11,281 (+45.3%), from €24,905 to €36,186
- Tax, wage and social debts -€9,705
down €9,705 (-96.2%), from €10,093 to €388
of which Remuneration and social security: -€7,987
- Gross operating margin -€152,179
down €152,179 (-34.6%), from €439,881 to €287,703
- Taxes -€35,459
down €35,459 (-56.0%), from €63,345 to €27,887
- Staff costs +€23,364
up €23,364 (+16.2%), from €144,563 to €167,927
- Depreciation +€5,699
up €5,699 (+20.7%), from €27,575 to €33,274
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 | €694,910 | €321,493 | -€373,417 | -53.7% |
| Fixed assets | 21/28 | €105,895 | €72,621 | -€33,274 | -31.4% |
| Tangible fixed assets | 22/27 | €105,895 | €72,621 | -€33,274 | -31.4% |
| Plant, machinery and equipment | 23 | €3,852 | €0 | -€3,852 | -100% |
| Furniture and vehicles | 24 | €36,078 | €21,974 | -€14,104 | -39.1% |
| Leasing and similar rights | 25 | €65,966 | €50,647 | -€15,319 | -23.2% |
| Current assets | 29/58 | €589,015 | €248,872 | -€340,143 | -57.7% |
| Stocks and contracts in progress | 3 | €6,682 | €17,803 | +€11,121 | +166% |
| Stocks | 30/36 | €6,682 | €5,855 | -€828 | -12.4% |
| Contracts in progress | 37 | €0 | €11,948 | +€11,948 | |
| Amounts receivable within one year | 40/41 | €30,350 | €6,922 | -€23,429 | -77.2% |
| Trade receivables | 40 | €6,055 | €1,867 | -€4,188 | -69.2% |
| Other amounts receivable | 41 | €24,296 | €5,055 | -€19,241 | -79.2% |
| Cash at bank and in hand | 54/58 | €547,740 | €213,088 | -€334,652 | -61.1% |
| Deferred charges and accrued income | 490/1 | €4,242 | €11,058 | +€6,817 | +161% |
| Total equity and liabilities | 10/49 | €694,910 | €321,493 | -€373,417 | -53.7% |
| Equity | 10/15 | €599,431 | €180,852 | -€418,579 | -69.8% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €584,431 | €165,852 | -€418,579 | -71.6% |
| Distributable reserves | 133 | €584,431 | €165,852 | -€418,579 | -71.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €95,478 | €140,640 | +€45,162 | +47.3% |
| Amounts payable after more than one year | 17 | €46,566 | €32,491 | -€14,075 | -30.2% |
| Financial debts | 170/4 | €46,566 | €32,491 | -€14,075 | -30.2% |
| Amounts payable within one year | 42/48 | €48,912 | €108,149 | +€59,237 | +121% |
| Current portion of amounts payable after more than one year | 42 | €13,832 | €14,075 | +€243 | +1.8% |
| Trade debts | 44 | €24,905 | €36,186 | +€11,281 | +45.3% |
| Suppliers | 440/4 | €24,905 | €36,186 | +€11,281 | +45.3% |
| Taxes, remuneration and social security | 45 | €10,093 | €388 | -€9,705 | -96.2% |
| Taxes | 450/3 | €2,106 | €388 | -€1,718 | -81.6% |
| Remuneration and social security | 454/9 | €7,987 | €0 | -€7,987 | -100% |
| Other amounts payable | 47/48 | €82 | €57,500 | +€57,418 | +69,716% |
| Remuneration, social security and pensions | 62 | €144,563 | €167,927 | +€23,364 | +16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,575 | €33,274 | +€5,699 | +20.7% |
| Other operating charges | 640/8 | €481 | €4,034 | +€3,553 | +739% |
| Gross operating margin | 9900 | €439,881 | €287,703 | -€152,179 | -34.6% |
| Operating profit (loss) | 9901 | €267,263 | €82,469 | -€184,794 | -69.1% |
| Financial income | 75/76B | €3,858 | €6,979 | +€3,120 | +80.9% |
| Recurring financial income | 75 | €3,858 | €6,979 | +€3,120 | +80.9% |
| Financial charges | 65/66B | €1,364 | €1,445 | +€81 | +5.9% |
| Recurring financial charges | 65 | €1,364 | €1,445 | +€81 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | €269,757 | €88,002 | -€181,755 | -67.4% |
| Income taxes | 67/77 | €63,345 | €27,887 | -€35,459 | -56.0% |
| Profit (loss) for the period | 9904 | €206,412 | €60,115 | -€146,296 | -70.9% |
| Profit (loss) for the period to be appropriated | 9905 | €206,412 | €60,115 | -€146,296 | -70.9% |
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.