OSE: 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.
OSE
Largest movements
- Cash -€46,641
down €46,641 (-25.9%), from €180,280 to €133,640
mainly Other debts (-€33,658) and Deferred charges and accrued income (-€12,589)
- Deferred charges and accrued income +€12,589
up €12,589 (+676%), from €1,864 to €14,452
- Receivables within one year -€9,826
down €9,826 (-33.3%), from €29,530 to €19,703
of which Trade receivables: -€21,461
- Current investments +€6,197
up €6,197 (+19.3%), from €32,156 to €38,353
- Other debts -€33,658
down €33,658 (-30.5%), from €110,316 to €76,658
- Tax, wage and social debts -€9,865
down €9,865 (-39.7%), from €24,833 to €14,968
of which Taxes: -€5,405
- Debts after one year -€9,494
down €9,494 (-54.1%), from €17,535 to €8,041
- Trade debts +€7,251
up €7,251 (+61.5%), from €11,789 to €19,040
- Reserves +€5,250
up €5,250 (+1.8%), from €286,300 to €291,550
- Gross operating margin -€37,012
down €37,012 (-76.6%), from €48,328 to €11,316
- Taxes -€9,629
down €9,629 (-62.1%), from €15,499 to €5,869
- Financial income -€1,264
down €1,264 (-19.6%), from €6,438 to €5,173
- Financial charges -€550
down €550 (-37.2%), from €1,479 to €929
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 | €468,770 | €427,855 | -€40,916 | -8.7% |
| Fixed assets | 21/28 | €224,941 | €221,706 | -€3,235 | -1.4% |
| Intangible fixed assets | 21 | €3,031 | €1,771 | -€1,260 | -41.6% |
| Tangible fixed assets | 22/27 | €6,494 | €6,523 | +€30 | +0.5% |
| Furniture and vehicles | 24 | €2,346 | €2,885 | +€538 | +23.0% |
| Other tangible fixed assets | 26 | €4,148 | €3,639 | -€509 | -12.3% |
| Financial fixed assets | 28 | €215,416 | €213,411 | -€2,005 | -0.9% |
| Current assets | 29/58 | €243,830 | €206,149 | -€37,681 | -15.5% |
| Amounts receivable within one year | 40/41 | €29,530 | €19,703 | -€9,826 | -33.3% |
| Trade receivables | 40 | €27,512 | €6,050 | -€21,461 | -78.0% |
| Other amounts receivable | 41 | €2,018 | €13,653 | +€11,635 | +577% |
| Current investments | 50/53 | €32,156 | €38,353 | +€6,197 | +19.3% |
| Cash at bank and in hand | 54/58 | €180,280 | €133,640 | -€46,641 | -25.9% |
| Deferred charges and accrued income | 490/1 | €1,864 | €14,452 | +€12,589 | +676% |
| Total equity and liabilities | 10/49 | €468,770 | €427,855 | -€40,916 | -8.7% |
| Equity | 10/15 | €294,970 | €299,654 | +€4,683 | +1.6% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €286,300 | €291,550 | +€5,250 | +1.8% |
| Distributable reserves | 133 | €286,300 | €291,550 | +€5,250 | +1.8% |
| Profit (loss) carried forward | 14 | €610 | €44 | -€567 | -92.9% |
| Amounts payable | 17/49 | €173,800 | €128,201 | -€45,599 | -26.2% |
| Amounts payable after more than one year | 17 | €17,535 | €8,041 | -€9,494 | -54.1% |
| Financial debts | 170/4 | €17,535 | €8,041 | -€9,494 | -54.1% |
| Amounts payable within one year | 42/48 | €156,265 | €120,160 | -€36,105 | -23.1% |
| Current portion of amounts payable after more than one year | 42 | €9,328 | €9,494 | +€166 | +1.8% |
| Trade debts | 44 | €11,789 | €19,040 | +€7,251 | +61.5% |
| Suppliers | 440/4 | €11,789 | €19,040 | +€7,251 | +61.5% |
| Taxes, remuneration and social security | 45 | €24,833 | €14,968 | -€9,865 | -39.7% |
| Taxes | 450/3 | €20,133 | €14,728 | -€5,405 | -26.8% |
| Remuneration and social security | 454/9 | €4,700 | €240 | -€4,460 | -94.9% |
| Other amounts payable | 47/48 | €110,316 | €76,658 | -€33,658 | -30.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,966 | €3,057 | +€91 | +3.1% |
| Other operating charges | 640/8 | €690 | €751 | +€60 | +8.7% |
| Gross operating margin | 9900 | €48,328 | €11,316 | -€37,012 | -76.6% |
| Operating profit (loss) | 9901 | €44,671 | €7,508 | -€37,163 | -83.2% |
| Financial income | 75/76B | €6,438 | €5,173 | -€1,264 | -19.6% |
| Recurring financial income | 75 | €6,438 | €5,173 | -€1,264 | -19.6% |
| Financial charges | 65/66B | €1,479 | €929 | -€550 | -37.2% |
| Recurring financial charges | 65 | €1,479 | €929 | -€550 | -37.2% |
| Profit (loss) for the period before taxes | 9903 | €49,630 | €11,753 | -€37,877 | -76.3% |
| Income taxes | 67/77 | €15,499 | €5,869 | -€9,629 | -62.1% |
| Profit (loss) for the period | 9904 | €34,132 | €5,883 | -€28,248 | -82.8% |
| Profit (loss) for the period to be appropriated | 9905 | €34,132 | €5,883 | -€28,248 | -82.8% |
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 15 October 2026 via checked.be.