OLVAMA: 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.
OLVAMA
Largest movements
- Financial fixed assets +€203,098
up €203,098 (+224.9%), from €90,321 to €293,419
- Receivables within one year +€47,967
new in 2025: €47,967
of which Trade receivables: +€42,350
- Tangible fixed assets -€46,897
down €46,897 (-69.9%), from €67,082 to €20,185
- Debts after one year +€75,062
new in 2025: €75,062
- Trade debts +€72,544
up €72,544 (+9012.4%), from €805 to €73,349
- Current portion of long-term debt +€57,834
new in 2025: €57,834
- Profit (loss) carried forward +€14,920
up €14,920 (+60.0%), from €24,886 to €39,806
- Other debts -€14,533
down €14,533 (-16.3%), from €89,350 to €74,818
- Financial charges -€32,448
down €32,448 (-60.9%), from €53,285 to €20,837
- Gross operating margin -€28,135
down €28,135 (-36.0%), from €78,198 to €50,064
- Financial income -€3,609
down €3,609 (-27.1%), from €13,295 to €9,686
- Depreciation -€1,764
down €1,764 (-11.3%), from €15,644 to €13,880
- Taxes +€1,728
up €1,728 (+23.4%), from €7,395 to €9,123
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €160,635 | €362,745 | +€202,110 | +125.8% |
| Fixed assets | 21/28 | €157,403 | €313,604 | +€156,201 | +99.2% |
| Tangible fixed assets | 22/27 | €67,082 | €20,185 | -€46,897 | -69.9% |
| Furniture and vehicles | 24 | €67,082 | €20,185 | -€46,897 | -69.9% |
| Financial fixed assets | 28 | €90,321 | €293,419 | +€203,098 | +224.9% |
| Current assets | 29/58 | €3,232 | €49,141 | +€45,910 | +1420.6% |
| Amounts receivable within one year | 40/41 | - | €47,967 | +€47,967 | |
| Trade receivables | 40 | - | €42,350 | +€42,350 | |
| Other amounts receivable | 41 | - | €5,617 | +€5,617 | |
| Cash at bank and in hand | 54/58 | €1,934 | €1,024 | -€909 | -47.0% |
| Deferred charges and accrued income | 490/1 | €1,298 | €150 | -€1,147 | -88.4% |
| Total equity and liabilities | 10/49 | €160,635 | €362,745 | +€202,110 | +125.8% |
| Equity | 10/15 | €59,886 | €74,806 | +€14,920 | +24.9% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,886 | €39,806 | +€14,920 | +60.0% |
| Amounts payable | 17/49 | €100,749 | €287,939 | +€187,191 | +185.8% |
| Amounts payable after more than one year | 17 | - | €75,062 | +€75,062 | |
| Financial debts | 170/4 | - | €75,062 | +€75,062 | |
| Amounts payable within one year | 42/48 | €100,749 | €212,877 | +€112,129 | +111.3% |
| Current portion of amounts payable after more than one year | 42 | - | €57,834 | +€57,834 | |
| Trade debts | 44 | €805 | €73,349 | +€72,544 | +9012.4% |
| Suppliers | 440/4 | €805 | €73,349 | +€72,544 | +9012.4% |
| Taxes, remuneration and social security | 45 | €10,594 | €6,878 | -€3,716 | -35.1% |
| Taxes | 450/3 | €10,594 | €6,878 | -€3,716 | -35.1% |
| Other amounts payable | 47/48 | €89,350 | €74,818 | -€14,533 | -16.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,644 | €13,880 | -€1,764 | -11.3% |
| Other operating charges | 640/8 | €1,706 | €989 | -€717 | -42.0% |
| Gross operating margin | 9900 | €78,198 | €50,064 | -€28,135 | -36.0% |
| Operating profit (loss) | 9901 | €60,847 | €35,195 | -€25,653 | -42.2% |
| Financial income | 75/76B | €13,295 | €9,686 | -€3,609 | -27.1% |
| Recurring financial income | 75 | €13,295 | €9,686 | -€3,609 | -27.1% |
| Financial charges | 65/66B | €53,285 | €20,837 | -€32,448 | -60.9% |
| Recurring financial charges | 65 | €53,285 | €20,837 | -€32,448 | -60.9% |
| Profit (loss) for the period before taxes | 9903 | €20,857 | €24,043 | +€3,186 | +15.3% |
| Income taxes | 67/77 | €7,395 | €9,123 | +€1,728 | +23.4% |
| Profit (loss) for the period | 9904 | €13,462 | €14,920 | +€1,458 | +10.8% |
| Profit (loss) for the period to be appropriated | 9905 | €13,462 | €14,920 | +€1,458 | +10.8% |
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.