Olivier: 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.
What changed
Olivier
NACE 33.120, Repair and maintenance of machinery
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€352,595
2024 · -€194,651-€157,945
Equity
€6.2m
2024 · €6.5m-€352,595
Cash
€311,734
2024 · €332,894-€21,160
Balance sheet total
€10.0m
2024 · €10.1m-€121,707
Largest movements
Assets
- Tangible fixed assets -€311,904
down €311,904 (-3.5%), from €8.9m to €8.5m
- Stocks and contracts +€197,594
up €197,594 (+29.4%), from €671,603 to €869,197
Equity and liabilities
- Trade debts +€439,469
up €439,469 (+155.4%), from €282,772 to €722,242
- Reserves -€352,595
down €352,595 (-7.8%), from €4.5m to €4.2m
of which Distributable reserves: -€342,448
- Debts after one year -€222,677
down €222,677 (-30.6%), from €727,864 to €505,187
Income statement
- Gross operating margin -€132,805
down €132,805 (-17.1%), from €775,249 to €642,444
- Other operating charges +€61,630
up €61,630 (+52.3%), from €117,891 to €179,521
- Staff costs -€36,755
down €36,755 (-9.1%), from €401,741 to €364,986
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.
Result 2024
-€194,651
Gross operating margin
-€132,805
Staff costs
+€36,755
Depreciation
+€4,938
Write-downs
-€5,177
Other operating charges
-€61,630
Financial income
-€642
Financial charges
-€3,512
Taxes
+€4,129
Result 2025
-€352,595
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.
From operations
+€277,804
Investment
-€48,840
Financing
-€250,123
Cash 2024
€332,894
From operations (derived)
+€277,804
Net result for the year
-€352,595
Depreciation
+€360,743
Stocks and contracts
-€197,594
Receivables within one year
-€13,241
Smaller working-capital items
-€321
Provisions
-€3,382
Trade debts
+€439,469
Tax, wage and social debts
-€10,850
Other debts
+€54,464
Accrued charges and deferred income
+€1,110
Investment (derived)
-€48,840
Investment in fixed assets (net)
-€48,840
Financing
-€250,123
Debts after one year
-€222,677
Current portion of long-term debt
-€27,446
Cash 2025
€311,734
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,149,997 | €10,028,290 | -€121,707 | -1.2% |
| Fixed assets | 21/28 | €8,854,278 | €8,542,374 | -€311,904 | -3.5% |
| Tangible fixed assets | 22/27 | €8,852,801 | €8,540,897 | -€311,904 | -3.5% |
| Land and buildings | 22 | €8,013,513 | €7,871,558 | -€141,955 | -1.8% |
| Plant, machinery and equipment | 23 | €603,018 | €490,016 | -€113,002 | -18.7% |
| Furniture and vehicles | 24 | €219,022 | €169,561 | -€49,461 | -22.6% |
| Leasing and similar rights | 25 | €17,249 | €9,763 | -€7,486 | -43.4% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €1,476 | €1,476 | = | 0.0% |
| Current assets | 29/58 | €1,295,720 | €1,485,916 | +€190,197 | +14.7% |
| Stocks and contracts in progress | 3 | €671,603 | €869,197 | +€197,594 | +29.4% |
| Stocks | 30/36 | €671,603 | €869,197 | +€197,594 | +29.4% |
| Amounts receivable within one year | 40/41 | €252,616 | €265,858 | +€13,241 | +5.2% |
| Trade receivables | 40 | €188,588 | €224,477 | +€35,889 | +19.0% |
| Other amounts receivable | 41 | €64,028 | €41,381 | -€22,647 | -35.4% |
| Cash at bank and in hand | 54/58 | €332,894 | €311,734 | -€21,160 | -6.4% |
| Deferred charges and accrued income | 490/1 | €38,607 | €39,128 | +€521 | +1.3% |
| Total equity and liabilities | 10/49 | €10,149,997 | €10,028,290 | -€121,707 | -1.2% |
| Equity | 10/15 | €6,536,767 | €6,184,171 | -€352,595 | -5.4% |
| Contributions | 10/11 | €2,000,000 | €2,000,000 | = | 0.0% |
| Capital | 10 | €2,000,000 | €2,000,000 | = | 0.0% |
| Issued capital | 100 | €2,000,000 | €2,000,000 | = | 0.0% |
| Reserves | 13 | €4,536,767 | €4,184,171 | -€352,595 | -7.8% |
| Non-distributable reserves | 130/1 | €200,000 | €200,000 | = | 0.0% |
| Legal reserve | 130 | €200,000 | €200,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €126,858 | €116,711 | -€10,147 | -8.0% |
| Distributable reserves | 133 | €4,209,909 | €3,867,460 | -€342,448 | -8.1% |
| Provisions and deferred taxes | 16 | €42,286 | €38,904 | -€3,382 | -8.0% |
| Deferred taxes | 168 | €42,286 | €38,904 | -€3,382 | -8.0% |
| Amounts payable | 17/49 | €3,570,945 | €3,805,215 | +€234,270 | +6.6% |
| Amounts payable after more than one year | 17 | €727,864 | €505,187 | -€222,677 | -30.6% |
| Financial debts | 170/4 | €727,864 | €505,187 | -€222,677 | -30.6% |
| Amounts payable within one year | 42/48 | €2,787,285 | €3,243,123 | +€455,838 | +16.4% |
| Current portion of amounts payable after more than one year | 42 | €250,123 | €222,677 | -€27,446 | -11.0% |
| Trade debts | 44 | €282,772 | €722,242 | +€439,469 | +155.4% |
| Suppliers | 440/4 | €282,772 | €722,242 | +€439,469 | +155.4% |
| Advances received on contracts in progress | 46 | €5,426 | €5,626 | +€200 | +3.7% |
| Taxes, remuneration and social security | 45 | €64,600 | €53,750 | -€10,850 | -16.8% |
| Taxes | 450/3 | €28,744 | €10,753 | -€17,991 | -62.6% |
| Remuneration and social security | 454/9 | €35,856 | €42,997 | +€7,142 | +19.9% |
| Other amounts payable | 47/48 | €2,184,364 | €2,238,828 | +€54,464 | +2.5% |
| Accrued charges and deferred income | 492/3 | €55,795 | €56,905 | +€1,110 | +2.0% |
| Non-recurring operating income | 76A | €0 | €3,250 | +€3,250 | |
| Remuneration, social security and pensions | 62 | €401,741 | €364,986 | -€36,755 | -9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €365,681 | €360,743 | -€4,938 | -1.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €5,177 | +€5,177 | |
| Other operating charges | 640/8 | €117,891 | €179,521 | +€61,630 | +52.3% |
| Gross operating margin | 9900 | €775,249 | €642,444 | -€132,805 | -17.1% |
| Operating profit (loss) | 9901 | -€110,064 | -€267,984 | -€157,920 | -143.5% |
| Financial income | 75/76B | €642 | €0 | -€642 | -100.0% |
| Recurring financial income | 75 | €642 | €0 | -€642 | -100.0% |
| Financial charges | 65/66B | €82,169 | €85,681 | +€3,512 | +4.3% |
| Recurring financial charges | 65 | €82,169 | €85,681 | +€3,512 | +4.3% |
| Profit (loss) for the period before taxes | 9903 | -€191,590 | -€353,664 | -€162,074 | -84.6% |
| Transfer from deferred taxes | 780 | €3,382 | €3,382 | = | 0.0% |
| Income taxes | 67/77 | €6,443 | €2,313 | -€4,129 | -64.1% |
| Profit (loss) for the period | 9904 | -€194,651 | -€352,595 | -€157,945 | -81.1% |
| Transfer from tax-exempt reserves | 789 | €10,147 | €10,147 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€184,504 | -€342,448 | -€157,945 | -85.6% |
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 6 October 2026 via checked.be.