OLSTRA: 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.
What changed
OLSTRA
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.6m
2024 · €762,096+€851,710
Equity
€9.6m
2024 · €7.9m+€1.6m
Cash
€437,395
2024 · €100,735+€336,660
Balance sheet total
€19.0m
2024 · €19.5m-€547,160
Largest movements
Assets
- Tangible fixed assets -€1.0m
down €1.0m (-17.9%), from €5.8m to €4.7m
of which Land and buildings: -€780,095
- Cash +€336,660
up €336,660 (+334%), from €100,735 to €437,395
mainly Net result for the year (+€1.6m) and Investment in fixed assets (net) (+€687,048)
Equity and liabilities
- Other debts -€1.7m
down €1.7m (-45.2%), from €3.7m to €2.0m
- Reserves +€1.1m
up €1.1m (+51.0%), from €2.2m to €3.4m
of which Tax-exempt reserves: +€1.1m
- Debts after one year -€640,821
down €640,821 (-10.2%), from €6.3m to €5.7m
of which Financial debts: -€655,687
- Profit (loss) carried forward +€475,096
up €475,096 (+14.0%), from €3.4m to €3.9m
- Trade debts -€459,313
down €459,313 (-95.8%), from €479,368 to €20,055
Income statement
- Other operating income -€646,355
down €646,355 (-35.2%), from €1.8m to €1.2m
- Turnover +€427,578
up €427,578 (+68.9%), from €620,981 to €1.0m
- Services and other goods +€185,211
up €185,211 (+94.4%), from €196,122 to €381,332
- Depreciation -€101,326
down €101,326 (-23.8%), from €426,352 to €325,026
- Taxes -€79,062
down €79,062 (-31.2%), from €253,134 to €174,072
of which Taxes: -€83,507
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
€762,096
Turnover
+€427,578
Other operating income
-€646,355
Services and other goods
-€185,211
Staff costs
+€9,965
Depreciation
+€101,326
Other operating charges
-€12,532
Other operating items
+€1.5m
Financial income
+€1,663
Financial charges
-€56,909
Taxes
+€79,062
Deferred taxes and other
-€379,570
Result 2025
€1.6m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€302,894
Investment
+€687,048
Financing
-€653,281
Cash 2024
€100,735
From operations (derived)
+€302,894
Net result for the year
+€1.6m
Depreciation
+€325,026
Receivables within one year
-€128,751
Deferred charges and accrued income
+€498
Provisions
+€379,570
Trade debts
-€459,313
Tax, wage and social debts
+€169,508
Other debts
-€1.7m
Accrued charges and deferred income
+€67,083
Investment (derived)
+€687,048
Investment in fixed assets (net)
+€687,048
Financing
-€653,281
Debts after one year
-€640,821
Current portion of long-term debt
-€70,698
Short-term financial debts
+€58,238
Cash 2025
€437,395
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €19,516,085 | €18,968,924 | -€547,160 | -2.8% |
| Fixed assets | 21/28 | €16,062,826 | €15,050,752 | -€1.0m | -6.3% |
| Tangible fixed assets | 22/27 | €5,758,086 | €4,728,161 | -€1.0m | -17.9% |
| Land and buildings | 22 | €5,324,291 | €4,544,196 | -€780,095 | -14.7% |
| Plant, machinery and equipment | 23 | €107,937 | €73,864 | -€34,074 | -31.6% |
| Furniture and vehicles | 24 | €325,858 | €110,102 | -€215,756 | -66.2% |
| Financial fixed assets | 28 | €10,304,739 | €10,322,590 | +€17,851 | +0.2% |
| Affiliated companies | 280/1 | €10,302,589 | €10,322,589 | +€20,000 | +0.2% |
| Participating interests | 280 | €10,302,589 | €10,322,589 | +€20,000 | +0.2% |
| Other financial fixed assets | 284/8 | €2,150 | €1 | -€2,149 | -100.0% |
| Shares | 284 | €2,150 | €1 | -€2,149 | -100.0% |
| Current assets | 29/58 | €3,453,259 | €3,918,173 | +€464,913 | +13.5% |
| Amounts receivable after more than one year | 29 | €1 | €1 | = | 0.0% |
| Other amounts receivable | 291 | €1 | €1 | = | 0.0% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €3,322,679 | €3,451,430 | +€128,751 | +3.9% |
| Trade receivables | 40 | €2,875,355 | €2,962,789 | +€87,434 | +3.0% |
| Other amounts receivable | 41 | €447,324 | €488,641 | +€41,317 | +9.2% |
| Cash at bank and in hand | 54/58 | €100,735 | €437,395 | +€336,660 | +334% |
| Deferred charges and accrued income | 490/1 | €29,844 | €29,346 | -€498 | -1.7% |
| Total equity and liabilities | 10/49 | €19,516,085 | €18,968,924 | -€547,160 | -2.8% |
| Equity | 10/15 | €7,938,248 | €9,552,053 | +€1.6m | +20.3% |
| Contributions | 10/11 | €2,321,800 | €2,321,800 | = | 0.0% |
| Capital | 10 | €2,321,800 | €2,321,800 | = | 0.0% |
| Issued capital | 100 | €2,321,800 | €2,321,800 | = | 0.0% |
| Reserves | 13 | €2,232,780 | €3,371,489 | +€1.1m | +51.0% |
| Non-distributable reserves | 130/1 | €232,180 | €232,180 | = | 0.0% |
| Legal reserve | 130 | €232,180 | €232,180 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €1,138,709 | +€1.1m | |
| Distributable reserves | 133 | €2,000,600 | €2,000,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,383,668 | €3,858,764 | +€475,096 | +14.0% |
| Provisions and deferred taxes | 16 | - | €379,570 | +€379,570 | |
| Deferred taxes | 168 | - | €379,570 | +€379,570 | |
| Amounts payable | 17/49 | €11,577,837 | €9,037,301 | -€2.5m | -21.9% |
| Amounts payable after more than one year | 17 | €6,293,683 | €5,652,862 | -€640,821 | -10.2% |
| Financial debts | 170/4 | €4,153,029 | €3,497,342 | -€655,687 | -15.8% |
| Credit institutions | 173 | €4,153,029 | €3,497,342 | -€655,687 | -15.8% |
| Other amounts payable | 178/9 | €2,140,655 | €2,155,520 | +€14,865 | +0.7% |
| Amounts payable within one year | 42/48 | €5,220,879 | €3,254,082 | -€2.0m | -37.7% |
| Current portion of amounts payable after more than one year | 42 | €697,352 | €626,654 | -€70,698 | -10.1% |
| Financial debts | 43 | €59,160 | €117,398 | +€58,238 | +98.4% |
| Credit institutions | 430/8 | €59,160 | €117,398 | +€58,238 | +98.4% |
| Trade debts | 44 | €479,368 | €20,055 | -€459,313 | -95.8% |
| Suppliers | 440/4 | €479,368 | €20,055 | -€459,313 | -95.8% |
| Taxes, remuneration and social security | 45 | €299,133 | €468,641 | +€169,508 | +56.7% |
| Taxes | 450/3 | €173,286 | €332,685 | +€159,399 | +92.0% |
| Remuneration and social security | 454/9 | €125,847 | €135,956 | +€10,109 | +8.0% |
| Other amounts payable | 47/48 | €3,685,866 | €2,021,334 | -€1.7m | -45.2% |
| Accrued charges and deferred income | 492/3 | €63,275 | €130,358 | +€67,083 | +106% |
| Operating income | 70/76A | €2,514,659 | €3,827,044 | +€1.3m | +52.2% |
| Turnover | 70 | €620,981 | €1,048,558 | +€427,578 | +68.9% |
| Other operating income | 74 | €1,835,761 | €1,189,406 | -€646,355 | -35.2% |
| Non-recurring operating income | 76A | €57,917 | €1,589,079 | +€1.5m | +2,644% |
| Operating charges | 60/66A | €1,343,519 | €1,448,441 | +€104,922 | +7.8% |
| Services and other goods | 61 | €196,122 | €381,332 | +€185,211 | +94.4% |
| Remuneration, social security and pensions | 62 | €603,000 | €593,035 | -€9,965 | -1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €426,352 | €325,026 | -€101,326 | -23.8% |
| Other operating charges | 640/8 | €118,045 | €130,578 | +€12,532 | +10.6% |
| Non-recurring operating charges | 66A | - | €18,469 | +€18,469 | |
| Operating profit (loss) | 9901 | €1,171,140 | €2,378,603 | +€1.2m | +103% |
| Financial income | 75/76B | €1,563 | €3,226 | +€1,663 | +106% |
| Recurring financial income | 75 | €1,563 | €3,226 | +€1,663 | +106% |
| Income from current assets | 751 | €1,389 | €2,251 | +€862 | +62.0% |
| Other financial income | 752/9 | €173 | €975 | +€802 | +463% |
| Financial charges | 65/66B | €157,473 | €214,381 | +€56,909 | +36.1% |
| Recurring financial charges | 65 | €157,473 | €214,381 | +€56,909 | +36.1% |
| Debt charges | 650 | €154,151 | €211,378 | +€57,228 | +37.1% |
| Other financial charges | 652/9 | €3,322 | €3,003 | -€319 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €1,015,230 | €2,167,447 | +€1.2m | +113% |
| Transfer to deferred taxes | 680 | - | €379,570 | +€379,570 | |
| Income taxes | 67/77 | €253,134 | €174,072 | -€79,062 | -31.2% |
| Taxes | 670/3 | €257,579 | €174,072 | -€83,507 | -32.4% |
| Tax adjustments and reversals of tax provisions | 77 | €4,445 | €0 | -€4,445 | -100% |
| Profit (loss) for the period | 9904 | €762,096 | €1,613,806 | +€851,710 | +112% |
| Transfer to tax-exempt reserves | 689 | - | €1,138,709 | +€1.1m | |
| Profit (loss) for the period to be appropriated | 9905 | €762,096 | €475,096 | -€287,000 | -37.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.