OLIVIER OTTE: 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.
OLIVIER OTTE
Largest movements
- Cash +€34,196
up €34,196 (+50.1%), from €68,212 to €102,408
mainly Net result for the year (+€31,949) and Depreciation (+€7,263)
- Tangible fixed assets -€7,263
down €7,263 (-40.8%), from €17,800 to €10,536
of which Furniture and vehicles: -€5,496
- Receivables within one year -€3,459
down €3,459 (-27.8%), from €12,451 to €8,992
of which Other amounts receivable: -€2,437
- Reserves +€30,000
new in 2025: €30,000
- Tax, wage and social debts -€8,139
down €8,139 (-33.8%), from €24,097 to €15,957
- Profit (loss) carried forward +€1,949
up €1,949 (+2.8%), from €69,171 to €71,119
- Gross operating margin -€50,902
down €50,902 (-48.4%), from €105,068 to €54,165
- Taxes -€8,488
down €8,488 (-36.5%), from €23,247 to €14,759
- Depreciation -€4,353
down €4,353 (-37.5%), from €11,616 to €7,263
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 | €98,549 | €122,971 | +€24,422 | +24.8% |
| Fixed assets | 21/28 | €17,800 | €10,536 | -€7,263 | -40.8% |
| Tangible fixed assets | 22/27 | €17,800 | €10,536 | -€7,263 | -40.8% |
| Plant, machinery and equipment | 23 | €4,555 | €2,788 | -€1,767 | -38.8% |
| Furniture and vehicles | 24 | €13,245 | €7,748 | -€5,496 | -41.5% |
| Current assets | 29/58 | €80,749 | €112,435 | +€31,685 | +39.2% |
| Amounts receivable within one year | 40/41 | €12,451 | €8,992 | -€3,459 | -27.8% |
| Trade receivables | 40 | €10,013 | €8,992 | -€1,022 | -10.2% |
| Other amounts receivable | 41 | €2,437 | - | -€2,437 | |
| Cash at bank and in hand | 54/58 | €68,212 | €102,408 | +€34,196 | +50.1% |
| Deferred charges and accrued income | 490/1 | €86 | €1,035 | +€948 | +1,097% |
| Total equity and liabilities | 10/49 | €98,549 | €122,971 | +€24,422 | +24.8% |
| Equity | 10/15 | €74,171 | €106,119 | +€31,949 | +43.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €30,000 | +€30,000 | |
| Distributable reserves | 133 | - | €30,000 | +€30,000 | |
| Profit (loss) carried forward | 14 | €69,171 | €71,119 | +€1,949 | +2.8% |
| Amounts payable | 17/49 | €24,378 | €16,852 | -€7,526 | -30.9% |
| Amounts payable within one year | 42/48 | €24,350 | €16,834 | -€7,516 | -30.9% |
| Trade debts | 44 | €253 | €876 | +€623 | +246% |
| Suppliers | 440/4 | €253 | €876 | +€623 | +246% |
| Taxes, remuneration and social security | 45 | €24,097 | €15,957 | -€8,139 | -33.8% |
| Taxes | 450/3 | €24,097 | €15,957 | -€8,139 | -33.8% |
| Accrued charges and deferred income | 492/3 | €29 | €18 | -€10 | -35.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,616 | €7,263 | -€4,353 | -37.5% |
| Other operating charges | 640/8 | €1,048 | €548 | -€499 | -47.7% |
| Gross operating margin | 9900 | €105,068 | €54,165 | -€50,902 | -48.4% |
| Operating profit (loss) | 9901 | €92,404 | €46,354 | -€46,050 | -49.8% |
| Financial income | 75/76B | €98 | €397 | +€299 | +305% |
| Recurring financial income | 75 | €98 | €397 | +€299 | +305% |
| Financial charges | 65/66B | €84 | €43 | -€41 | -48.6% |
| Recurring financial charges | 65 | €84 | €43 | -€41 | -48.6% |
| Profit (loss) for the period before taxes | 9903 | €92,418 | €46,707 | -€45,711 | -49.5% |
| Income taxes | 67/77 | €23,247 | €14,759 | -€8,488 | -36.5% |
| Profit (loss) for the period | 9904 | €69,171 | €31,949 | -€37,222 | -53.8% |
| Profit (loss) for the period to be appropriated | 9905 | €69,171 | €31,949 | -€37,222 | -53.8% |
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 23 October 2026 via checked.be.