Otel: 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.
Otel
Largest movements
- Cash -€38,804
down €38,804 (-79.1%), from €49,069 to €10,265
mainly Investment in fixed assets (net) (-€33,381) and Net result for the year (-€30,632)
- Intangible fixed assets -€28,571
down €28,571 (-18.7%), from €152,485 to €123,914
- Receivables within one year -€17,414
down €17,414 (-79.9%), from €21,787 to €4,373
of which Other amounts receivable: -€19,132
- Tangible fixed assets +€3,546
up €3,546 (+2.7%), from €130,262 to €133,808
of which Furniture and vehicles: +€7,799
- Reserves -€52,432
down €52,432 (-85.3%), from €61,475 to €9,043
- Debts after one year -€18,660
down €18,660 (-11.9%), from €156,901 to €138,241
- Tax, wage and social debts -€8,818
down €8,818 (-38.8%), from €22,724 to €13,905
of which Taxes: -€9,903
- Other debts +€8,243
up €8,243 (+189%), from €4,358 to €12,601
- Short-term financial debts -€7,500
down €7,500 (-100%), from €7,500 to €0
- Gross operating margin -€41,534
down €41,534 (-23.4%), from €177,169 to €135,634
- Depreciation +€10,208
up €10,208 (+21.2%), from €48,199 to €58,407
- Write-downs -€4,981
down €4,981 (-100%), from €4,981 to €0
- Taxes -€2,327
down €2,327 (-76.3%), from €3,051 to €723
- Staff costs -€2,190
down €2,190 (-3.4%), from €63,596 to €61,406
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 | €354,603 | €273,360 | -€81,243 | -22.9% |
| Fixed assets | 21/28 | €282,747 | €257,722 | -€25,025 | -8.9% |
| Intangible fixed assets | 21 | €152,485 | €123,914 | -€28,571 | -18.7% |
| Tangible fixed assets | 22/27 | €130,262 | €133,808 | +€3,546 | +2.7% |
| Plant, machinery and equipment | 23 | €10,220 | €6,376 | -€3,845 | -37.6% |
| Furniture and vehicles | 24 | €42,327 | €50,125 | +€7,799 | +18.4% |
| Other tangible fixed assets | 26 | €77,715 | €77,307 | -€408 | -0.5% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Current assets | 29/58 | €71,856 | €15,638 | -€56,218 | -78.2% |
| Stocks and contracts in progress | 3 | €1,000 | €1,000 | = | 0.0% |
| Stocks | 30/36 | €1,000 | €1,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €21,787 | €4,373 | -€17,414 | -79.9% |
| Trade receivables | 40 | €1,831 | €3,549 | +€1,718 | +93.9% |
| Other amounts receivable | 41 | €19,956 | €824 | -€19,132 | -95.9% |
| Cash at bank and in hand | 54/58 | €49,069 | €10,265 | -€38,804 | -79.1% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €354,603 | €273,360 | -€81,243 | -22.9% |
| Equity | 10/15 | €87,475 | €35,043 | -€52,432 | -59.9% |
| Contributions | 10/11 | €26,000 | €26,000 | = | 0.0% |
| Reserves | 13 | €61,475 | €9,043 | -€52,432 | -85.3% |
| Distributable reserves | 133 | €61,475 | €9,043 | -€52,432 | -85.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €267,128 | €238,317 | -€28,811 | -10.8% |
| Amounts payable after more than one year | 17 | €156,901 | €138,241 | -€18,660 | -11.9% |
| Financial debts | 170/4 | €156,901 | €138,241 | -€18,660 | -11.9% |
| Amounts payable within one year | 42/48 | €110,227 | €100,076 | -€10,151 | -9.2% |
| Current portion of amounts payable after more than one year | 42 | €33,301 | €37,548 | +€4,247 | +12.8% |
| Financial debts | 43 | €7,500 | €0 | -€7,500 | -100% |
| Credit institutions | 430/8 | €7,500 | €0 | -€7,500 | -100% |
| Trade debts | 44 | €42,343 | €36,021 | -€6,322 | -14.9% |
| Suppliers | 440/4 | €42,343 | €36,021 | -€6,322 | -14.9% |
| Taxes, remuneration and social security | 45 | €22,724 | €13,905 | -€8,818 | -38.8% |
| Taxes | 450/3 | €15,858 | €5,955 | -€9,903 | -62.4% |
| Remuneration and social security | 454/9 | €6,865 | €7,950 | +€1,085 | +15.8% |
| Other amounts payable | 47/48 | €4,358 | €12,601 | +€8,243 | +189% |
| Remuneration, social security and pensions | 62 | €63,596 | €61,406 | -€2,190 | -3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,199 | €58,407 | +€10,208 | +21.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,981 | €0 | -€4,981 | -100% |
| Other operating charges | 640/8 | €32,534 | €32,684 | +€150 | +0.5% |
| Gross operating margin | 9900 | €177,169 | €135,634 | -€41,534 | -23.4% |
| Operating profit (loss) | 9901 | €27,858 | -€16,863 | -€44,721 | |
| Financial income | 75/76B | €785 | €20 | -€765 | -97.4% |
| Recurring financial income | 75 | €785 | €20 | -€765 | -97.4% |
| Financial charges | 65/66B | €13,437 | €13,066 | -€371 | -2.8% |
| Recurring financial charges | 65 | €13,437 | €13,066 | -€371 | -2.8% |
| Profit (loss) for the period before taxes | 9903 | €15,206 | -€29,909 | -€45,115 | |
| Income taxes | 67/77 | €3,051 | €723 | -€2,327 | -76.3% |
| Profit (loss) for the period | 9904 | €12,155 | -€30,632 | -€42,787 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,155 | -€30,632 | -€42,787 |
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 14 October 2026 via checked.be.