OTIS: 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.
What changed
OTIS
NACE 43.240, Other construction installation
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€4.0m
2024 · €7.7m-€3.8m
Equity
€19.1m
2024 · €74.4m-€55.3m
Cash
€2,080
2024 · €56,727-€54,647
Balance sheet total
€122.3m
2024 · €126.0m-€3.7m
Largest movements
Assets
- Stocks and contracts -€3.9m
down €3.9m (-23.2%), from €16.8m to €12.9m
Equity and liabilities
- Other debts +€59.3m
new in 2025: €59.3m
- Profit (loss) carried forward -€55.3m
down €55.3m (-76.3%), from €72.6m to €17.2m
- Advances received -€4.1m
down €4.1m (-20.6%), from €19.8m to €15.7m
- Trade debts -€3.7m
down €3.7m (-49.2%), from €7.5m to €3.8m
Income statement
- Financial income -€5.5m
down €5.5m (-72.0%), from €7.6m to €2.1m
- Goods and materials -€4.3m
down €4.3m (-15.0%), from €28.5m to €24.2m
- Turnover +€1.5m
up €1.5m (+2.7%), from €56.1m to €57.7m
- Taxes -€701,544
down €701,544 (-42.3%), from €1.7m to €956,987
- Provisions -€660,713
no longer reported in 2025 (was €660,713)
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.
Result 2024
€7.7m
Turnover
+€1.5m
Goods and materials
+€4.3m
Services and other goods
-€82,064
Staff costs
+€71,295
Depreciation
+€92,956
Provisions
+€660,713
Other operating charges
-€144,163
Other operating items
-€5.0m
Financial income
-€5.5m
Financial charges
-€387,711
Taxes
+€701,544
Result 2025
€4.0m
Cash bridge derived
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.
From operations
+€59.2m
Investment
-€3,450
Financing
-€59.3m
Cash 2024
€56,727
From operations (derived)
+€59.2m
Net result for the year
+€4.0m
Depreciation
+€103,489
Stocks and contracts
+€3.9m
Receivables within one year
-€432,113
Smaller working-capital items
+€48,504
Provisions
+€362,416
Trade debts
-€3.7m
Tax, wage and social debts
-€206,913
Advances received
-€4.1m
Other debts
+€59.3m
Investment (derived)
-€3,450
Investment in fixed assets (net)
-€3,450
Financing
-€59.3m
Contributions, distributions and other
-€59.3m
Cash 2025
€2,080
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €125,998,153 | €122,252,908 | -€3.7m | -3.0% |
| Fixed assets | 21/28 | €6,761,634 | €6,661,595 | -€100,039 | -1.5% |
| Tangible fixed assets | 22/27 | €240,635 | €140,596 | -€100,039 | -41.6% |
| Plant, machinery and equipment | 23 | €240,635 | €140,596 | -€100,039 | -41.6% |
| Financial fixed assets | 28 | €6,520,999 | €6,520,999 | = | 0.0% |
| Affiliated companies | 280/1 | €6,516,785 | €6,516,785 | = | 0.0% |
| Participating interests | 280 | €6,516,785 | €6,516,785 | = | 0.0% |
| Other financial fixed assets | 284/8 | €4,214 | €4,214 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €4,214 | €4,214 | = | 0.0% |
| Current assets | 29/58 | €119,236,519 | €115,591,313 | -€3.6m | -3.1% |
| Stocks and contracts in progress | 3 | €16,818,233 | €12,923,609 | -€3.9m | -23.2% |
| Contracts in progress | 37 | €16,818,233 | €12,923,609 | -€3.9m | -23.2% |
| Amounts receivable within one year | 40/41 | €101,808,198 | €102,240,311 | +€432,113 | +0.4% |
| Trade receivables | 40 | €10,484,003 | €10,956,866 | +€472,863 | +4.5% |
| Other amounts receivable | 41 | €91,324,195 | €91,283,445 | -€40,750 | 0.0% |
| Cash at bank and in hand | 54/58 | €56,727 | €2,080 | -€54,647 | -96.3% |
| Deferred charges and accrued income | 490/1 | €553,361 | €425,313 | -€128,048 | -23.1% |
| Total equity and liabilities | 10/49 | €125,998,153 | €122,252,908 | -€3.7m | -3.0% |
| Equity | 10/15 | €74,388,303 | €19,051,608 | -€55.3m | -74.4% |
| Contributions | 10/11 | €893,000 | €893,000 | = | 0.0% |
| Capital | 10 | €893,000 | €893,000 | = | 0.0% |
| Issued capital | 100 | €893,000 | €893,000 | = | 0.0% |
| Reserves | 13 | €939,094 | €939,094 | = | 0.0% |
| Non-distributable reserves | 130/1 | €922,222 | €922,222 | = | 0.0% |
| Legal reserve | 130 | €89,300 | €89,300 | = | 0.0% |
| Other | 1319 | €832,922 | €832,922 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,872 | €16,872 | = | 0.0% |
| Profit (loss) carried forward | 14 | €72,556,209 | €17,219,514 | -€55.3m | -76.3% |
| Provisions and deferred taxes | 16 | €1,191,667 | €1,554,083 | +€362,416 | +30.4% |
| Provisions for liabilities and charges | 160/5 | €1,191,667 | €1,554,083 | +€362,416 | +30.4% |
| Other liabilities and charges | 164/5 | €1,191,667 | €1,554,083 | +€362,416 | +30.4% |
| Amounts payable | 17/49 | €50,418,183 | €101,647,217 | +€51.2m | +101.6% |
| Amounts payable within one year | 42/48 | €44,175,450 | €95,484,028 | +€51.3m | +116.1% |
| Trade debts | 44 | €7,528,843 | €3,822,295 | -€3.7m | -49.2% |
| Suppliers | 440/4 | €7,528,843 | €3,822,295 | -€3.7m | -49.2% |
| Advances received on contracts in progress | 46 | €19,754,293 | €15,676,332 | -€4.1m | -20.6% |
| Taxes, remuneration and social security | 45 | €16,892,314 | €16,685,401 | -€206,913 | -1.2% |
| Taxes | 450/3 | €12,323,015 | €12,160,523 | -€162,492 | -1.3% |
| Remuneration and social security | 454/9 | €4,569,299 | €4,524,878 | -€44,421 | -1.0% |
| Other amounts payable | 47/48 | - | €59,300,000 | +€59.3m | |
| Accrued charges and deferred income | 492/3 | €6,242,733 | €6,163,189 | -€79,544 | -1.3% |
| Operating income | 70/76A | €57,288,363 | €53,776,020 | -€3.5m | -6.1% |
| Turnover | 70 | €56,146,947 | €57,670,644 | +€1.5m | +2.7% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €1,141,416 | -€3,894,624 | -€5.0m | |
| Operating charges | 60/66A | €55,283,938 | €50,398,750 | -€4.9m | -8.8% |
| Goods for resale, raw materials and consumables | 60 | €28,526,301 | €24,239,850 | -€4.3m | -15.0% |
| Purchases | 600/8 | €28,526,301 | €24,239,850 | -€4.3m | -15.0% |
| Services and other goods | 61 | €7,778,230 | €7,860,294 | +€82,064 | +1.1% |
| Remuneration, social security and pensions | 62 | €17,956,745 | €17,885,450 | -€71,295 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €196,445 | €103,489 | -€92,956 | -47.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €660,713 | - | -€660,713 | |
| Other operating charges | 640/8 | €165,504 | €309,667 | +€144,163 | +87.1% |
| Operating profit (loss) | 9901 | €2,004,425 | €3,377,270 | +€1.4m | +68.5% |
| Financial income | 75/76B | €7,582,659 | €2,122,356 | -€5.5m | -72.0% |
| Recurring financial income | 75 | €7,582,659 | €2,122,356 | -€5.5m | -72.0% |
| Income from financial fixed assets | 750 | €4,400,000 | - | -€4.4m | |
| Income from current assets | 751 | €3,144,415 | €2,026,088 | -€1.1m | -35.6% |
| Other financial income | 752/9 | €38,244 | €96,268 | +€58,024 | +151.7% |
| Financial charges | 65/66B | €191,623 | €579,334 | +€387,711 | +202.3% |
| Recurring financial charges | 65 | €191,623 | €213,672 | +€22,049 | +11.5% |
| Debt charges | 650 | €164,092 | €182,478 | +€18,386 | +11.2% |
| Other financial charges | 652/9 | €27,531 | €31,194 | +€3,663 | +13.3% |
| Non-recurring financial charges | 66B | - | €365,662 | +€365,662 | |
| Profit (loss) for the period before taxes | 9903 | €9,395,461 | €4,920,292 | -€4.5m | -47.6% |
| Income taxes | 67/77 | €1,658,531 | €956,987 | -€701,544 | -42.3% |
| Taxes | 670/3 | €1,658,531 | €956,987 | -€701,544 | -42.3% |
| Profit (loss) for the period | 9904 | €7,736,930 | €3,963,305 | -€3.8m | -48.8% |
| Profit (loss) for the period to be appropriated | 9905 | €7,736,930 | €3,963,305 | -€3.8m | -48.8% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.