OSWALD: 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.
OSWALD
Largest movements
- Cash -€11,860
down €11,860 (-12.7%), from €93,702 to €81,843
mainly Trade debts (-€11,008) and Investment in fixed assets (net) (-€9,160)
- Tangible fixed assets +€3,757
up €3,757 (+26.2%), from €14,345 to €18,102
of which Furniture and vehicles: +€9,160
- Receivables within one year +€3,533
up €3,533 (+12.7%), from €27,721 to €31,254
of which Trade receivables: +€3,298
- Stocks and contracts +€2,644
up €2,644 (+3.0%), from €86,861 to €89,504
- Deferred charges and accrued income -€2,352
down €2,352 (-21.6%), from €10,882 to €8,530
- Trade debts -€11,008
down €11,008 (-48.7%), from €22,595 to €11,587
- Other debts +€2,887
up €2,887 (+49.7%), from €5,808 to €8,695
- Reserves +€2,871
up €2,871 (+7.7%), from €37,055 to €39,926
of which Distributable reserves: +€2,871
- Purchases and services +€291,564
new in 2025: €291,564
- Depreciation -€3,742
down €3,742 (-40.9%), from €9,145 to €5,403
- Gross operating margin -€2,084
down €2,084 (-2.1%), from €97,247 to €95,162
- Staff costs +€1,252
up €1,252 (+1.5%), from €82,323 to €83,576
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 | €233,511 | €229,232 | -€4,279 | -1.8% |
| Fixed assets | 21/28 | €14,345 | €18,102 | +€3,757 | +26.2% |
| Tangible fixed assets | 22/27 | €14,345 | €18,102 | +€3,757 | +26.2% |
| Plant, machinery and equipment | 23 | €14,345 | €8,942 | -€5,403 | -37.7% |
| Furniture and vehicles | 24 | - | €9,160 | +€9,160 | |
| Current assets | 29/58 | €219,166 | €211,131 | -€8,035 | -3.7% |
| Stocks and contracts in progress | 3 | €86,861 | €89,504 | +€2,644 | +3.0% |
| Stocks | 30/36 | €86,861 | €89,504 | +€2,644 | +3.0% |
| Amounts receivable within one year | 40/41 | €27,721 | €31,254 | +€3,533 | +12.7% |
| Trade receivables | 40 | €26,078 | €29,376 | +€3,298 | +12.6% |
| Other amounts receivable | 41 | €1,643 | €1,878 | +€235 | +14.3% |
| Cash at bank and in hand | 54/58 | €93,702 | €81,843 | -€11,860 | -12.7% |
| Deferred charges and accrued income | 490/1 | €10,882 | €8,530 | -€2,352 | -21.6% |
| Total equity and liabilities | 10/49 | €233,511 | €229,232 | -€4,279 | -1.8% |
| Equity | 10/15 | €185,156 | €188,027 | +€2,871 | +1.6% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €37,055 | €39,926 | +€2,871 | +7.7% |
| Non-distributable reserves | 130/1 | €9,288 | €9,288 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,288 | €9,288 | = | 0.0% |
| Distributable reserves | 133 | €27,766 | €30,637 | +€2,871 | +10.3% |
| Profit (loss) carried forward | 14 | €86,128 | €86,128 | = | 0.0% |
| Amounts payable | 17/49 | €48,355 | €41,205 | -€7,150 | -14.8% |
| Amounts payable within one year | 42/48 | €48,355 | €41,205 | -€7,150 | -14.8% |
| Trade debts | 44 | €22,595 | €11,587 | -€11,008 | -48.7% |
| Suppliers | 440/4 | €22,595 | €11,587 | -€11,008 | -48.7% |
| Taxes, remuneration and social security | 45 | €19,952 | €20,923 | +€971 | +4.9% |
| Taxes | 450/3 | €9,288 | €9,568 | +€280 | +3.0% |
| Remuneration and social security | 454/9 | €10,664 | €11,355 | +€691 | +6.5% |
| Other amounts payable | 47/48 | €5,808 | €8,695 | +€2,887 | +49.7% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €291,564 | +€291,564 | |
| Remuneration, social security and pensions | 62 | €82,323 | €83,576 | +€1,252 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,145 | €5,403 | -€3,742 | -40.9% |
| Other operating charges | 640/8 | €2,717 | €1,875 | -€842 | -31.0% |
| Gross operating margin | 9900 | €97,247 | €95,162 | -€2,084 | -2.1% |
| Operating profit (loss) | 9901 | €3,062 | €4,309 | +€1,247 | +40.7% |
| Financial income | 75/76B | €4 | - | -€4 | |
| Recurring financial income | 75 | €4 | - | -€4 | |
| Financial charges | 65/66B | €285 | €328 | +€44 | +15.3% |
| Recurring financial charges | 65 | €285 | €328 | +€44 | +15.3% |
| Profit (loss) for the period before taxes | 9903 | €2,781 | €3,980 | +€1,199 | +43.1% |
| Income taxes | 67/77 | €1,668 | €1,109 | -€559 | -33.5% |
| Profit (loss) for the period | 9904 | €1,112 | €2,871 | +€1,759 | +158% |
| Profit (loss) for the period to be appropriated | 9905 | €1,112 | €2,871 | +€1,759 | +158% |
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 17 October 2026 via checked.be.