ONTEX GROUP: 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.
What changed
ONTEX GROUP
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€3.7m
2024 · €15.5m-€11.8m
Equity
€1.68bn
2024 · €1.68bn+€3.7m
Cash
€36.7m
2024 · €28.8m+€7.9m
Balance sheet total
€2.82bn
2024 · €3.04bn-€218.1m
Largest movements
Assets
- Financial fixed assets -€340.1m
down €340.1m (-12.4%), from €2.75bn to €2.41bn
of which Affiliated companies: -€340.1m
- Receivables within one year +€121.4m
up €121.4m (+57.9%), from €209.6m to €331.0m
of which Other amounts receivable: +€147.4m
Equity and liabilities
- Debts after one year -€180.0m
down €180.0m (-31.0%), from €580.0m to €400.0m
- Short-term financial debts +€89.4m
up €89.4m (+48.3%), from €185.2m to €274.5m
of which Credit institutions: +€100.0m
- Other debts -€85.5m
down €85.5m (-16.2%), from €528.4m to €443.0m
Income statement
No income-statement line moved by more than 1% of the activity.
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
€15.5m
Staff costs
+€932,175
Depreciation
+€51,615
Provisions
+€5.1m
Other operating charges
-€16,057
Other operating items
+€7.0m
Financial income
+€1.1m
Financial charges
-€26.9m
Taxes
+€917,553
Result 2025
€3.7m
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.
From operations
-€208.7m
Investment
+€331.3m
Financing
-€114.6m
Cash 2024
€28.8m
From operations (derived)
-€208.7m
Net result for the year
+€3.7m
Depreciation
+€6.1m
Receivables within one year
-€121.4m
Deferred charges and accrued income
+€10.0m
Provisions
-€5.6m
Trade debts
-€13.6m
Tax, wage and social debts
-€2.9m
Other debts
-€85.5m
Accrued charges and deferred income
+€521,869
Investment (derived)
+€331.3m
Investment in fixed assets (net)
+€332.3m
Current investments
-€943,178
Financing
-€114.6m
Debts after one year
-€180.0m
Current portion of long-term debt
-€24.0m
Short-term financial debts
+€89.4m
Contributions, distributions and other
-€1
Cash 2025
€36.7m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,035,105,915 | €2,817,009,261 | -€218.1m | -7.2% |
| Fixed assets | 21/28 | €2,759,891,343 | €2,421,525,009 | -€338.4m | -12.3% |
| Intangible fixed assets | 21 | €13,645,146 | €15,449,779 | +€1.8m | +13.2% |
| Tangible fixed assets | 22/27 | €202,451 | €81,830 | -€120,621 | -59.6% |
| Plant, machinery and equipment | 23 | €177,026 | €81,830 | -€95,196 | -53.8% |
| Assets under construction and advance payments | 27 | €25,425 | - | -€25,425 | |
| Financial fixed assets | 28 | €2,746,043,746 | €2,405,993,400 | -€340.1m | -12.4% |
| Affiliated companies | 280/1 | €2,745,855,872 | €2,405,805,526 | -€340.1m | -12.4% |
| Participating interests | 280 | €1,687,065,289 | €1,687,065,289 | = | 0.0% |
| Amounts receivable | 281 | €1,058,790,583 | €718,740,237 | -€340.1m | -32.1% |
| Other financial fixed assets | 284/8 | €187,874 | €187,874 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €187,874 | €187,874 | = | 0.0% |
| Current assets | 29/58 | €275,214,572 | €395,484,252 | +€120.3m | +43.7% |
| Amounts receivable within one year | 40/41 | €209,569,020 | €330,974,897 | +€121.4m | +57.9% |
| Trade receivables | 40 | €94,833,470 | €68,803,898 | -€26.0m | -27.4% |
| Other amounts receivable | 41 | €114,735,550 | €262,170,999 | +€147.4m | +128.5% |
| Current investments | 50/53 | €10,571,753 | €11,514,931 | +€943,178 | +8.9% |
| Own shares | 50 | €10,571,753 | €11,514,931 | +€943,178 | +8.9% |
| Cash at bank and in hand | 54/58 | €28,773,214 | €36,699,703 | +€7.9m | +27.5% |
| Deferred charges and accrued income | 490/1 | €26,300,585 | €16,294,721 | -€10.0m | -38.0% |
| Total equity and liabilities | 10/49 | €3,035,105,915 | €2,817,009,261 | -€218.1m | -7.2% |
| Equity | 10/15 | €1,677,206,663 | €1,680,869,484 | +€3.7m | +0.2% |
| Contributions | 10/11 | €1,236,329,608 | €1,236,329,608 | = | 0.0% |
| Capital | 10 | €823,587,466 | €823,587,466 | = | 0.0% |
| Issued capital | 100 | €823,587,466 | €823,587,466 | = | 0.0% |
| Outside capital | 11 | €412,742,142 | €412,742,142 | = | 0.0% |
| Share premium | 1100/10 | €412,742,142 | €412,742,142 | = | 0.0% |
| Reserves | 13 | €269,116,428 | €270,242,747 | +€1.1m | +0.4% |
| Non-distributable reserves | 130/1 | €41,139,791 | €42,266,110 | +€1.1m | +2.7% |
| Legal reserve | 130 | €30,568,038 | €30,751,179 | +€183,141 | +0.6% |
| Own shares acquired | 1312 | €10,571,753 | €11,514,931 | +€943,178 | +8.9% |
| Distributable reserves | 133 | €227,976,637 | €227,976,637 | = | 0.0% |
| Profit (loss) carried forward | 14 | €171,760,627 | €174,297,129 | +€2.5m | +1.5% |
| Provisions and deferred taxes | 16 | €7,975,354 | €2,361,650 | -€5.6m | -70.4% |
| Provisions for liabilities and charges | 160/5 | €7,975,354 | €2,361,650 | -€5.6m | -70.4% |
| Other liabilities and charges | 164/5 | €7,975,354 | €2,361,650 | -€5.6m | -70.4% |
| Amounts payable | 17/49 | €1,349,923,898 | €1,133,778,127 | -€216.1m | -16.0% |
| Amounts payable after more than one year | 17 | €580,000,000 | €400,000,000 | -€180.0m | -31.0% |
| Financial debts | 170/4 | €580,000,000 | €400,000,000 | -€180.0m | -31.0% |
| Unsubordinated bonds | 171 | €580,000,000 | €400,000,000 | -€180.0m | -31.0% |
| Amounts payable within one year | 42/48 | €760,472,477 | €723,804,837 | -€36.7m | -4.8% |
| Current portion of amounts payable after more than one year | 42 | €24,000,000 | - | -€24.0m | |
| Financial debts | 43 | €185,170,279 | €274,529,215 | +€89.4m | +48.3% |
| Credit institutions | 430/8 | - | €100,000,000 | +€100.0m | |
| Other loans | 439 | €185,170,279 | €174,529,215 | -€10.6m | -5.7% |
| Trade debts | 44 | €18,568,954 | €4,929,190 | -€13.6m | -73.5% |
| Suppliers | 440/4 | €18,568,954 | €4,929,190 | -€13.6m | -73.5% |
| Taxes, remuneration and social security | 45 | €4,303,663 | €1,392,490 | -€2.9m | -67.6% |
| Taxes | 450/3 | €2,109,870 | €46,471 | -€2.1m | -97.8% |
| Remuneration and social security | 454/9 | €2,193,793 | €1,346,019 | -€847,774 | -38.6% |
| Other amounts payable | 47/48 | €528,429,581 | €442,953,942 | -€85.5m | -16.2% |
| Accrued charges and deferred income | 492/3 | €9,451,421 | €9,973,290 | +€521,869 | +5.5% |
| Operating income | 70/76A | €56,592,841 | €75,228,370 | +€18.6m | +32.9% |
| Own construction capitalised | 72 | - | €1,033,658 | +€1.0m | |
| Other operating income | 74 | €56,592,841 | €74,194,712 | +€17.6m | +31.1% |
| Operating charges | 60/66A | €42,932,726 | €48,507,333 | +€5.6m | +13.0% |
| Services and other goods | 61 | €26,006,275 | €36,837,176 | +€10.8m | +41.6% |
| Remuneration, social security and pensions | 62 | €11,213,640 | €10,281,465 | -€932,175 | -8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,166,155 | €6,114,540 | -€51,615 | -0.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€492,725 | -€5,613,705 | -€5.1m | -1039.3% |
| Other operating charges | 640/8 | €4,445 | €20,502 | +€16,057 | +361.2% |
| Non-recurring operating charges | 66A | €34,936 | €867,355 | +€832,419 | +2382.7% |
| Operating profit (loss) | 9901 | €13,660,115 | €26,721,037 | +€13.1m | +95.6% |
| Financial income | 75/76B | €73,655,690 | €74,764,940 | +€1.1m | +1.5% |
| Recurring financial income | 75 | €73,655,690 | €74,764,940 | +€1.1m | +1.5% |
| Income from current assets | 751 | €56,208,111 | €53,412,897 | -€2.8m | -5.0% |
| Other financial income | 752/9 | €17,447,579 | €21,352,043 | +€3.9m | +22.4% |
| Financial charges | 65/66B | €69,740,599 | €96,647,127 | +€26.9m | +38.6% |
| Recurring financial charges | 65 | €67,917,326 | €96,647,127 | +€28.7m | +42.3% |
| Debt charges | 650 | €47,668,821 | €45,605,745 | -€2.1m | -4.3% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | -€955,597 | €8,341,717 | +€9.3m | |
| Other financial charges | 652/9 | €21,204,102 | €42,699,665 | +€21.5m | +101.4% |
| Non-recurring financial charges | 66B | €1,823,273 | - | -€1.8m | |
| Profit (loss) for the period before taxes | 9903 | €17,575,206 | €4,838,850 | -€12.7m | -72.5% |
| Income taxes | 67/77 | €2,093,581 | €1,176,028 | -€917,553 | -43.8% |
| Taxes | 670/3 | €2,093,581 | €1,176,028 | -€917,553 | -43.8% |
| Profit (loss) for the period | 9904 | €15,481,625 | €3,662,822 | -€11.8m | -76.3% |
| Profit (loss) for the period to be appropriated | 9905 | €15,481,625 | €3,662,822 | -€11.8m | -76.3% |
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 5 October 2026 via checked.be.