OLRAYT: 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.
OLRAYT
Largest movements
- Receivables within one year +€119,897
up €119,897 (+118%), from €101,582 to €221,479
of which Trade receivables: +€96,097
- Tangible fixed assets -€12,384
down €12,384 (-9.4%), from €132,189 to €119,806
of which Furniture and vehicles: -€13,175
- Cash +€7,075
up €7,075 (+31.0%), from €22,853 to €29,928
mainly Trade debts (+€99,588) and Depreciation (+€70,066)
- Trade debts +€99,588
up €99,588 (+264%), from €37,707 to €137,295
- Other debts +€40,850
new in 2025: €40,850
- Reserves -€34,946
down €34,946 (-66.1%), from €52,879 to €17,933
of which Distributable reserves: -€34,946
- Debts after one year +€12,117
up €12,117 (+30.4%), from €39,907 to €52,024
- Depreciation +€11,207
up €11,207 (+19.0%), from €58,859 to €70,066
- Other operating charges -€7,009
down €7,009 (-66.3%), from €10,572 to €3,562
- Financial charges -€3,589
down €3,589 (-39.0%), from €9,209 to €5,621
- Gross operating margin +€1,709
up €1,709 (+1.8%), from €93,274 to €94,983
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 | €262,851 | €377,500 | +€114,649 | +43.6% |
| Fixed assets | 21/28 | €135,516 | €122,532 | -€12,984 | -9.6% |
| Intangible fixed assets | 21 | €2,092 | €1,492 | -€600 | -28.7% |
| Tangible fixed assets | 22/27 | €132,189 | €119,806 | -€12,384 | -9.4% |
| Plant, machinery and equipment | 23 | €8,670 | €9,461 | +€792 | +9.1% |
| Furniture and vehicles | 24 | €123,520 | €110,344 | -€13,175 | -10.7% |
| Financial fixed assets | 28 | €1,235 | €1,235 | = | 0.0% |
| Current assets | 29/58 | €127,335 | €254,967 | +€127,632 | +100% |
| Stocks and contracts in progress | 3 | €2,900 | €2,990 | +€90 | +3.1% |
| Stocks | 30/36 | €2,900 | €2,990 | +€90 | +3.1% |
| Amounts receivable within one year | 40/41 | €101,582 | €221,479 | +€119,897 | +118% |
| Trade receivables | 40 | €61,805 | €157,902 | +€96,097 | +155% |
| Other amounts receivable | 41 | €39,777 | €63,578 | +€23,800 | +59.8% |
| Cash at bank and in hand | 54/58 | €22,853 | €29,928 | +€7,075 | +31.0% |
| Deferred charges and accrued income | 490/1 | - | €570 | +€570 | |
| Total equity and liabilities | 10/49 | €262,851 | €377,500 | +€114,649 | +43.6% |
| Equity | 10/15 | €127,418 | €92,472 | -€34,946 | -27.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €52,879 | €17,933 | -€34,946 | -66.1% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €51,024 | €16,078 | -€34,946 | -68.5% |
| Profit (loss) carried forward | 14 | €55,989 | €55,989 | = | 0.0% |
| Amounts payable | 17/49 | €135,434 | €285,028 | +€149,595 | +110% |
| Amounts payable after more than one year | 17 | €39,907 | €52,024 | +€12,117 | +30.4% |
| Financial debts | 170/4 | €39,907 | €52,024 | +€12,117 | +30.4% |
| Amounts payable within one year | 42/48 | €95,527 | €233,005 | +€137,478 | +144% |
| Current portion of amounts payable after more than one year | 42 | €42,555 | €40,278 | -€2,278 | -5.4% |
| Trade debts | 44 | €37,707 | €137,295 | +€99,588 | +264% |
| Suppliers | 440/4 | €37,707 | €137,295 | +€99,588 | +264% |
| Taxes, remuneration and social security | 45 | €15,265 | €14,582 | -€682 | -4.5% |
| Taxes | 450/3 | €5,907 | €6,335 | +€428 | +7.2% |
| Remuneration and social security | 454/9 | €9,358 | €8,248 | -€1,110 | -11.9% |
| Other amounts payable | 47/48 | - | €40,850 | +€40,850 | |
| Remuneration, social security and pensions | 62 | €0 | €220 | +€219 | +129,100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,859 | €70,066 | +€11,207 | +19.0% |
| Other operating charges | 640/8 | €10,572 | €3,562 | -€7,009 | -66.3% |
| Non-recurring operating charges | 66A | €2,146 | €3,278 | +€1,132 | +52.8% |
| Gross operating margin | 9900 | €93,274 | €94,983 | +€1,709 | +1.8% |
| Operating profit (loss) | 9901 | €21,697 | €17,857 | -€3,840 | -17.7% |
| Financial income | 75/76B | €1 | €2 | +€1 | +257% |
| Recurring financial income | 75 | €1 | €2 | +€1 | +257% |
| Financial charges | 65/66B | €9,209 | €5,621 | -€3,589 | -39.0% |
| Recurring financial charges | 65 | €9,209 | €5,621 | -€3,589 | -39.0% |
| Profit (loss) for the period before taxes | 9903 | €12,488 | €12,239 | -€249 | -2.0% |
| Income taxes | 67/77 | €4,464 | €4,185 | -€280 | -6.3% |
| Profit (loss) for the period | 9904 | €8,024 | €8,054 | +€30 | +0.4% |
| Profit (loss) for the period to be appropriated | 9905 | €8,024 | €8,054 | +€30 | +0.4% |
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 31 October 2026 via checked.be.