OTES: what changed
What changed
OTES
NACE 80.090, Investigation and security activities
filed annual accounts (NBB)
Net result for the year
€63,457
2024 · €67,990-€4,533
Equity
€347,622
2024 · €324,227+€23,395
Cash
€233,146
2024 · €137,499+€95,647
Balance sheet total
€455,445
2024 · €418,912+€36,533
Largest movements
Assets
- Cash +€95,647
up €95,647 (+69.6%), from €137,499 to €233,146
mainly Net result for the year (+€63,457) and Current investments (+€59,298)
- Current investments -€59,298
down €59,298 (-48.2%), from €122,970 to €63,672
- Receivables within one year +€14,653
up €14,653 (+24.3%), from €60,364 to €75,017
of which Trade receivables: +€22,982
- Tangible fixed assets -€9,606
down €9,606 (-15.9%), from €60,238 to €50,632
of which Furniture and vehicles: -€7,520
- Stocks and contracts -€4,957
down €4,957 (-24.8%), from €20,015 to €15,058
Equity and liabilities
- Reserves +€24,228
up €24,228 (+8.9%), from €273,478 to €297,706
- Trade debts +€22,734
up €22,734 (+138%), from €16,502 to €39,236
- Debts after one year -€13,876
down €13,876 (-38.9%), from €35,633 to €21,756
Income statement
- Gross operating margin -€10,240
down €10,240 (-6.3%), from €162,109 to €151,869
- Staff costs -€4,850
down €4,850 (-14.1%), from €34,492 to €29,641
- Taxes -€2,917
down €2,917 (-9.6%), from €30,473 to €27,556
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€67,990
Gross operating margin
-€10,240
Staff costs
+€4,850
Depreciation
-€1,482
Write-downs
-€285
Other operating charges
-€129
Financial income
-€437
Financial charges
+€273
Taxes
+€2,917
Result 2025
€63,457
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€105,345
Investment
+€43,740
Financing
-€53,438
Cash 2024
€137,499
From operations (derived)
+€105,345
Net result for the year
+€63,457
Depreciation
+€26,082
Stocks and contracts
+€4,957
Receivables within one year
-€14,653
Deferred charges and accrued income
-€1,012
Trade debts
+€22,734
Tax, wage and social debts
+€1,268
Other debts
+€2,355
Accrued charges and deferred income
+€156
Investment (derived)
+€43,740
Investment in fixed assets (net)
-€15,558
Current investments
+€59,298
Financing
-€53,438
Debts after one year
-€13,876
Current portion of long-term debt
+€482
Short-term financial debts
+€19
Contributions, distributions and other
-€40,063
Cash 2025
€233,146
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €418,912 | €455,445 | +€36,533 | +8.7% |
| Formation expenses | 20 | €307 | €272 | -€35 | -11.5% |
| Fixed assets | 21/28 | €66,382 | €55,895 | -€10,488 | -15.8% |
| Intangible fixed assets | 21 | €6,144 | €5,263 | -€881 | -14.3% |
| Tangible fixed assets | 22/27 | €60,238 | €50,632 | -€9,606 | -15.9% |
| Plant, machinery and equipment | 23 | €5,442 | €3,356 | -€2,086 | -38.3% |
| Furniture and vehicles | 24 | €54,796 | €47,275 | -€7,520 | -13.7% |
| Current assets | 29/58 | €352,222 | €399,279 | +€47,057 | +13.4% |
| Stocks and contracts in progress | 3 | €20,015 | €15,058 | -€4,957 | -24.8% |
| Stocks | 30/36 | €20,015 | €15,058 | -€4,957 | -24.8% |
| Amounts receivable within one year | 40/41 | €60,364 | €75,017 | +€14,653 | +24.3% |
| Trade receivables | 40 | €52,035 | €75,017 | +€22,982 | +44.2% |
| Other amounts receivable | 41 | €8,329 | €0 | -€8,329 | -100% |
| Current investments | 50/53 | €122,970 | €63,672 | -€59,298 | -48.2% |
| Cash at bank and in hand | 54/58 | €137,499 | €233,146 | +€95,647 | +69.6% |
| Deferred charges and accrued income | 490/1 | €11,374 | €12,386 | +€1,012 | +8.9% |
| Total equity and liabilities | 10/49 | €418,912 | €455,445 | +€36,533 | +8.7% |
| Equity | 10/15 | €324,227 | €347,622 | +€23,395 | +7.2% |
| Contributions | 10/11 | €28,000 | €28,000 | = | 0.0% |
| Reserves | 13 | €273,478 | €297,706 | +€24,228 | +8.9% |
| Distributable reserves | 133 | €273,478 | €297,706 | +€24,228 | +8.9% |
| Profit (loss) carried forward | 14 | €22,749 | €21,916 | -€833 | -3.7% |
| Amounts payable | 17/49 | €94,685 | €107,823 | +€13,139 | +13.9% |
| Amounts payable after more than one year | 17 | €35,633 | €21,756 | -€13,876 | -38.9% |
| Financial debts | 170/4 | €35,633 | €21,756 | -€13,876 | -38.9% |
| Amounts payable within one year | 42/48 | €58,477 | €85,336 | +€26,859 | +45.9% |
| Current portion of amounts payable after more than one year | 42 | €13,394 | €13,876 | +€482 | +3.6% |
| Financial debts | 43 | €18 | €37 | +€19 | +104% |
| Credit institutions | 430/8 | €18 | €37 | +€19 | +104% |
| Trade debts | 44 | €16,502 | €39,236 | +€22,734 | +138% |
| Suppliers | 440/4 | €16,502 | €39,236 | +€22,734 | +138% |
| Taxes, remuneration and social security | 45 | €16,571 | €17,839 | +€1,268 | +7.7% |
| Taxes | 450/3 | €8,482 | €14,080 | +€5,598 | +66.0% |
| Remuneration and social security | 454/9 | €8,089 | €3,759 | -€4,330 | -53.5% |
| Other amounts payable | 47/48 | €11,993 | €14,348 | +€2,355 | +19.6% |
| Accrued charges and deferred income | 492/3 | €575 | €731 | +€156 | +27.2% |
| Remuneration, social security and pensions | 62 | €34,492 | €29,641 | -€4,850 | -14.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,599 | €26,082 | +€1,482 | +6.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €285 | +€285 | |
| Other operating charges | 640/8 | €2,577 | €2,706 | +€129 | +5.0% |
| Gross operating margin | 9900 | €162,109 | €151,869 | -€10,240 | -6.3% |
| Operating profit (loss) | 9901 | €100,441 | €93,155 | -€7,286 | -7.3% |
| Financial income | 75/76B | €822 | €386 | -€437 | -53.1% |
| Recurring financial income | 75 | €822 | €386 | -€437 | -53.1% |
| Financial charges | 65/66B | €2,800 | €2,527 | -€273 | -9.7% |
| Recurring financial charges | 65 | €2,800 | €2,527 | -€273 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | €98,463 | €91,013 | -€7,450 | -7.6% |
| Income taxes | 67/77 | €30,473 | €27,556 | -€2,917 | -9.6% |
| Profit (loss) for the period | 9904 | €67,990 | €63,457 | -€4,533 | -6.7% |
| Profit (loss) for the period to be appropriated | 9905 | €67,990 | €63,457 | -€4,533 | -6.7% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.