OLSEN ENGINEERING: 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.
OLSEN ENGINEERING
Largest movements
- Cash -€522,796
down €522,796 (-63.3%), from €826,139 to €303,343
mainly Trade debts (-€542,632) and Investment in fixed assets (net) (-€367,976)
- Stocks and contracts +€207,164
up €207,164 (+8.5%), from €2.4m to €2.6m
of which Stocks: +€171,942
- Tangible fixed assets +€155,811
up €155,811 (+37.5%), from €416,028 to €571,839
of which Furniture and vehicles: +€97,122
- Intangible fixed assets -€91,572
down €91,572 (-12.1%), from €754,050 to €662,478
- Trade debts -€542,632
down €542,632 (-36.2%), from €1.5m to €958,090
- Debts after one year -€207,469
down €207,469 (-16.8%), from €1.2m to €1.0m
- Other debts +€158,000
up €158,000 (+16.1%), from €980,189 to €1.1m
- Advances received +€154,021
up €154,021 (+10.9%), from €1.4m to €1.6m
- Profit (loss) carried forward +€85,211
up €85,211 (+24.3%), from €350,554 to €435,765
- Staff costs +€339,255
up €339,255 (+16.2%), from €2.1m to €2.4m
- Gross operating margin +€222,474
up €222,474 (+7.3%), from €3.0m to €3.3m
- Depreciation +€46,505
up €46,505 (+18.1%), from €257,231 to €303,737
- Taxes -€40,335
down €40,335 (-30.7%), from €131,404 to €91,069
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,364,109 | €6,054,636 | -€309,473 | -4.9% |
| Fixed assets | 21/28 | €1,490,078 | €1,554,317 | +€64,239 | +4.3% |
| Intangible fixed assets | 21 | €754,050 | €662,478 | -€91,572 | -12.1% |
| Tangible fixed assets | 22/27 | €416,028 | €571,839 | +€155,811 | +37.5% |
| Land and buildings | 22 | €102,461 | €112,241 | +€9,780 | +9.5% |
| Plant, machinery and equipment | 23 | €65,987 | €114,897 | +€48,910 | +74.1% |
| Furniture and vehicles | 24 | €247,579 | €344,702 | +€97,122 | +39.2% |
| Financial fixed assets | 28 | €320,000 | €320,000 | = | 0.0% |
| Current assets | 29/58 | €4,874,031 | €4,500,319 | -€373,712 | -7.7% |
| Stocks and contracts in progress | 3 | €2,439,530 | €2,646,694 | +€207,164 | +8.5% |
| Stocks | 30/36 | €517,157 | €689,099 | +€171,942 | +33.2% |
| Contracts in progress | 37 | €1,922,372 | €1,957,595 | +€35,222 | +1.8% |
| Amounts receivable within one year | 40/41 | €1,530,843 | €1,468,570 | -€62,273 | -4.1% |
| Trade receivables | 40 | €1,499,133 | €1,452,005 | -€47,128 | -3.1% |
| Other amounts receivable | 41 | €31,710 | €16,565 | -€15,145 | -47.8% |
| Cash at bank and in hand | 54/58 | €826,139 | €303,343 | -€522,796 | -63.3% |
| Deferred charges and accrued income | 490/1 | €77,519 | €81,712 | +€4,193 | +5.4% |
| Total equity and liabilities | 10/49 | €6,364,109 | €6,054,636 | -€309,473 | -4.9% |
| Equity | 10/15 | €555,804 | €725,215 | +€169,411 | +30.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €105,250 | €189,450 | +€84,200 | +80.0% |
| Tax-exempt reserves | 132 | €105,250 | €189,450 | +€84,200 | +80.0% |
| Profit (loss) carried forward | 14 | €350,554 | €435,765 | +€85,211 | +24.3% |
| Amounts payable | 17/49 | €5,808,305 | €5,329,422 | -€478,883 | -8.2% |
| Amounts payable after more than one year | 17 | €1,234,248 | €1,026,780 | -€207,469 | -16.8% |
| Financial debts | 170/4 | €1,234,248 | €1,026,780 | -€207,469 | -16.8% |
| Amounts payable within one year | 42/48 | €4,542,167 | €4,275,704 | -€266,463 | -5.9% |
| Current portion of amounts payable after more than one year | 42 | €314,905 | €344,348 | +€29,443 | +9.3% |
| Trade debts | 44 | €1,500,722 | €958,090 | -€542,632 | -36.2% |
| Suppliers | 440/4 | €1,500,722 | €958,090 | -€542,632 | -36.2% |
| Advances received on contracts in progress | 46 | €1,419,040 | €1,573,062 | +€154,021 | +10.9% |
| Taxes, remuneration and social security | 45 | €327,311 | €262,015 | -€65,295 | -19.9% |
| Taxes | 450/3 | €70,457 | €1,918 | -€68,539 | -97.3% |
| Remuneration and social security | 454/9 | €256,854 | €260,097 | +€3,243 | +1.3% |
| Other amounts payable | 47/48 | €980,189 | €1,138,189 | +€158,000 | +16.1% |
| Accrued charges and deferred income | 492/3 | €31,890 | €26,938 | -€4,952 | -15.5% |
| Non-recurring operating income | 76A | - | €5,853 | +€5,853 | |
| Remuneration, social security and pensions | 62 | €2,091,919 | €2,431,174 | +€339,255 | +16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €257,231 | €303,737 | +€46,505 | +18.1% |
| Other operating charges | 640/8 | €25,721 | €16,385 | -€9,337 | -36.3% |
| Gross operating margin | 9900 | €3,035,354 | €3,257,828 | +€222,474 | +7.3% |
| Operating profit (loss) | 9901 | €660,482 | €506,533 | -€153,950 | -23.3% |
| Financial income | 75/76B | €2,555 | €2,785 | +€230 | +9.0% |
| Recurring financial income | 75 | €2,555 | €2,785 | +€230 | +9.0% |
| Financial charges | 65/66B | €18,497 | €24,839 | +€6,342 | +34.3% |
| Recurring financial charges | 65 | €18,497 | €24,336 | +€5,839 | +31.6% |
| Non-recurring financial charges | 66B | - | €503 | +€503 | |
| Profit (loss) for the period before taxes | 9903 | €644,540 | €484,479 | -€160,061 | -24.8% |
| Income taxes | 67/77 | €131,404 | €91,069 | -€40,335 | -30.7% |
| Profit (loss) for the period | 9904 | €513,137 | €393,411 | -€119,726 | -23.3% |
| Transfer to tax-exempt reserves | 689 | €105,250 | €84,200 | -€21,050 | -20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €407,887 | €309,211 | -€98,676 | -24.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.