OVAL: what changed
Two fiscal 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.
OVAL
Largest movements
- Cash -€28,672
down €28,672 (-88.0%), from €32,568 to €3,896
mainly Debts after one year (-€36,203) and Other debts (-€27,248)
- Tangible fixed assets -€24,055
down €24,055 (-2.7%), from €898,494 to €874,439
of which Land and buildings: -€28,046
- Debts after one year -€36,203
down €36,203 (-6.5%), from €555,433 to €519,230
- Other debts -€27,248
down €27,248 (-49.9%), from €54,637 to €27,389
- Profit (loss) carried forward +€24,747
up €24,747 (+9.4%), from €262,446 to €287,193
- Gross operating margin -€25,733
down €25,733 (-23.6%), from €108,898 to €83,165
- Other operating charges -€4,182
down €4,182 (-39.8%), from €10,507 to €6,326
- Taxes +€2,073
up €2,073 (+34.0%), from €6,092 to €8,165
- Financial charges -€1,221
down €1,221 (-7.9%), from €15,545 to €14,324
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €950,575 | €900,540 | -€50,035 | -5.3% |
| Fixed assets | 21/28 | €898,676 | €874,621 | -€24,055 | -2.7% |
| Tangible fixed assets | 22/27 | €898,494 | €874,439 | -€24,055 | -2.7% |
| Land and buildings | 22 | €893,905 | €865,859 | -€28,046 | -3.1% |
| Plant, machinery and equipment | 23 | €3,210 | €2,691 | -€519 | -16.2% |
| Furniture and vehicles | 24 | €1,380 | €5,889 | +€4,510 | +326.9% |
| Financial fixed assets | 28 | €182 | €182 | = | 0.0% |
| Current assets | 29/58 | €51,899 | €25,919 | -€25,980 | -50.1% |
| Amounts receivable within one year | 40/41 | €19,331 | €20,900 | +€1,569 | +8.1% |
| Trade receivables | 40 | €19,331 | €16,900 | -€2,431 | -12.6% |
| Other amounts receivable | 41 | - | €4,000 | +€4,000 | |
| Cash at bank and in hand | 54/58 | €32,568 | €3,896 | -€28,672 | -88.0% |
| Deferred charges and accrued income | 490/1 | - | €1,124 | +€1,124 | |
| Total equity and liabilities | 10/49 | €950,575 | €900,540 | -€50,035 | -5.3% |
| Equity | 10/15 | €282,906 | €307,653 | +€24,747 | +8.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €262,446 | €287,193 | +€24,747 | +9.4% |
| Amounts payable | 17/49 | €667,669 | €592,888 | -€74,782 | -11.2% |
| Amounts payable after more than one year | 17 | €555,433 | €519,230 | -€36,203 | -6.5% |
| Financial debts | 170/4 | €555,433 | €519,230 | -€36,203 | -6.5% |
| Amounts payable within one year | 42/48 | €111,766 | €73,658 | -€38,108 | -34.1% |
| Current portion of amounts payable after more than one year | 42 | €36,432 | €36,203 | -€230 | -0.6% |
| Trade debts | 44 | €5,930 | €978 | -€4,951 | -83.5% |
| Suppliers | 440/4 | €5,930 | €978 | -€4,951 | -83.5% |
| Taxes, remuneration and social security | 45 | €14,767 | €9,087 | -€5,680 | -38.5% |
| Taxes | 450/3 | €14,767 | €9,087 | -€5,680 | -38.5% |
| Other amounts payable | 47/48 | €54,637 | €27,389 | -€27,248 | -49.9% |
| Accrued charges and deferred income | 492/3 | €471 | - | -€471 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,549 | €29,603 | +€1,054 | +3.7% |
| Other operating charges | 640/8 | €10,507 | €6,326 | -€4,182 | -39.8% |
| Gross operating margin | 9900 | €108,898 | €83,165 | -€25,733 | -23.6% |
| Operating profit (loss) | 9901 | €69,841 | €47,236 | -€22,605 | -32.4% |
| Financial income | 75/76B | €18 | - | -€18 | |
| Recurring financial income | 75 | €18 | - | -€18 | |
| Financial charges | 65/66B | €15,545 | €14,324 | -€1,221 | -7.9% |
| Recurring financial charges | 65 | €15,545 | €14,324 | -€1,221 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | €54,315 | €32,912 | -€21,403 | -39.4% |
| Income taxes | 67/77 | €6,092 | €8,165 | +€2,073 | +34.0% |
| Profit (loss) for the period | 9904 | €48,222 | €24,747 | -€23,475 | -48.7% |
| Profit (loss) for the period to be appropriated | 9905 | €48,222 | €24,747 | -€23,475 | -48.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.