OSMAN: 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.
OSMAN
Largest movements
- Receivables within one year +€344,101
up €344,101 (+165%), from €207,931 to €552,033
of which Trade receivables: +€258,820
- Stocks and contracts +€146,513
up €146,513 (+23.7%), from €617,072 to €763,585
- Cash -€116,502
down €116,502 (-32.6%), from €357,618 to €241,116
mainly Receivables within one year (-€344,101) and Stocks and contracts (-€146,513)
- Debts after one year +€202,421
up €202,421 (+253%), from €79,859 to €282,280
- Tax, wage and social debts +€95,152
up €95,152 (+123%), from €77,614 to €172,766
of which Taxes: +€97,393
- Trade debts +€30,168
up €30,168 (+13.5%), from €223,886 to €254,055
- Reserves +€19,538
up €19,538 (+3.9%), from €506,104 to €525,643
of which Distributable reserves: +€19,538
- Gross operating margin -€429,775
down €429,775 (-75.2%), from €571,164 to €141,389
- Financial income -€8,160
down €8,160 (-98.8%), from €8,262 to €102
of which Non-recurring financial income: -€7,362
- Financial charges -€6,402
down €6,402 (-32.9%), from €19,437 to €13,035
of which Financial charges: -€5,503
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 | €1,318,878 | €1,681,912 | +€363,034 | +27.5% |
| Fixed assets | 21/28 | €133,601 | €120,233 | -€13,368 | -10.0% |
| Intangible fixed assets | 21 | €3,674 | €2,481 | -€1,194 | -32.5% |
| Tangible fixed assets | 22/27 | €125,699 | €113,525 | -€12,174 | -9.7% |
| Land and buildings | 22 | €354 | - | -€354 | |
| Plant, machinery and equipment | 23 | €13,532 | €8,289 | -€5,244 | -38.7% |
| Furniture and vehicles | 24 | €36,772 | €29,352 | -€7,420 | -20.2% |
| Leasing and similar rights | 25 | €38,973 | €46,927 | +€7,954 | +20.4% |
| Other tangible fixed assets | 26 | €36,068 | €28,957 | -€7,111 | -19.7% |
| Financial fixed assets | 28 | €4,227 | €4,227 | = | 0.0% |
| Current assets | 29/58 | €1,185,277 | €1,561,679 | +€376,402 | +31.8% |
| Stocks and contracts in progress | 3 | €617,072 | €763,585 | +€146,513 | +23.7% |
| Stocks | 30/36 | €617,072 | €763,585 | +€146,513 | +23.7% |
| Amounts receivable within one year | 40/41 | €207,931 | €552,033 | +€344,101 | +165% |
| Trade receivables | 40 | €179,688 | €438,509 | +€258,820 | +144% |
| Other amounts receivable | 41 | €28,243 | €113,524 | +€85,281 | +302% |
| Cash at bank and in hand | 54/58 | €357,618 | €241,116 | -€116,502 | -32.6% |
| Deferred charges and accrued income | 490/1 | €2,656 | €4,946 | +€2,289 | +86.2% |
| Total equity and liabilities | 10/49 | €1,318,878 | €1,681,912 | +€363,034 | +27.5% |
| Equity | 10/15 | €524,704 | €544,243 | +€19,538 | +3.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €506,104 | €525,643 | +€19,538 | +3.9% |
| Tax-exempt reserves | 132 | €335,251 | €335,251 | = | 0.0% |
| Distributable reserves | 133 | €170,853 | €190,391 | +€19,538 | +11.4% |
| Provisions and deferred taxes | 16 | €111,750 | €111,750 | = | 0.0% |
| Deferred taxes | 168 | €111,750 | €111,750 | = | 0.0% |
| Amounts payable | 17/49 | €682,423 | €1,025,919 | +€343,495 | +50.3% |
| Amounts payable after more than one year | 17 | €79,859 | €282,280 | +€202,421 | +253% |
| Financial debts | 170/4 | €79,859 | €282,280 | +€202,421 | +253% |
| Amounts payable within one year | 42/48 | €599,614 | €743,638 | +€144,024 | +24.0% |
| Current portion of amounts payable after more than one year | 42 | €33,329 | €36,241 | +€2,912 | +8.7% |
| Trade debts | 44 | €223,886 | €254,055 | +€30,168 | +13.5% |
| Suppliers | 440/4 | €223,886 | €254,055 | +€30,168 | +13.5% |
| Advances received on contracts in progress | 46 | €178,581 | €178,861 | +€280 | +0.2% |
| Taxes, remuneration and social security | 45 | €77,614 | €172,766 | +€95,152 | +123% |
| Taxes | 450/3 | €72,229 | €169,622 | +€97,393 | +135% |
| Remuneration and social security | 454/9 | €5,386 | €3,145 | -€2,241 | -41.6% |
| Other amounts payable | 47/48 | €86,204 | €101,715 | +€15,512 | +18.0% |
| Accrued charges and deferred income | 492/3 | €2,950 | - | -€2,950 | |
| Non-recurring operating income | 76A | €447,002 | - | -€447,002 | |
| Remuneration, social security and pensions | 62 | €37,936 | €38,559 | +€623 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,821 | €41,903 | +€4,083 | +10.8% |
| Other operating charges | 640/8 | €12,757 | €14,149 | +€1,392 | +10.9% |
| Gross operating margin | 9900 | €571,164 | €141,389 | -€429,775 | -75.2% |
| Operating profit (loss) | 9901 | €482,650 | €46,777 | -€435,873 | -90.3% |
| Financial income | 75/76B | €8,262 | €102 | -€8,160 | -98.8% |
| Recurring financial income | 75 | €900 | €102 | -€798 | -88.7% |
| Non-recurring financial income | 76B | €7,362 | - | -€7,362 | |
| Financial charges | 65/66B | €19,437 | €13,035 | -€6,402 | -32.9% |
| Recurring financial charges | 65 | €18,437 | €12,935 | -€5,503 | -29.8% |
| Non-recurring financial charges | 66B | €1,000 | €100 | -€900 | -90.0% |
| Profit (loss) for the period before taxes | 9903 | €471,475 | €33,844 | -€437,631 | -92.8% |
| Transfer to deferred taxes | 680 | €111,750 | - | -€111,750 | |
| Income taxes | 67/77 | €10,408 | €14,305 | +€3,897 | +37.4% |
| Profit (loss) for the period | 9904 | €349,316 | €19,538 | -€329,778 | -94.4% |
| Transfer to tax-exempt reserves | 689 | €335,251 | - | -€335,251 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,065 | €19,538 | +€5,473 | +38.9% |
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.