OVATION MANAGEMENT: 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.
OVATION MANAGEMENT
Largest movements
- Receivables within one year -€84,545
down €84,545 (-68.1%), from €124,183 to €39,638
of which Trade receivables: -€81,654
- Tangible fixed assets -€51,345
down €51,345 (-4.3%), from €1.2m to €1.1m
of which Land and buildings: -€49,304
- Debts after one year -€80,329
down €80,329 (-19.2%), from €417,575 to €337,246
- Reserves -€63,167
down €63,167 (-29.6%), from €213,401 to €150,234
of which Distributable reserves: -€63,167
- Other debts +€28,491
up €28,491 (+20.4%), from €139,686 to €168,177
- Tax, wage and social debts -€16,734
down €16,734 (-99.0%), from €16,904 to €170
- Gross operating margin +€115,102
up €115,102, from -€80,205 to €34,897
- Other operating charges +€2,671
up €2,671 (+26.0%), from €10,275 to €12,947
- Taxes -€2,384
down €2,384 (-93.3%), from €2,554 to €170
- Financial charges -€1,996
down €1,996 (-6.8%), from €29,329 to €27,333
- Financial income -€1,907
no longer reported in 2025 (was €1,907)
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 | €1,348,716 | €1,210,774 | -€137,942 | -10.2% |
| Fixed assets | 21/28 | €1,215,049 | €1,163,704 | -€51,345 | -4.2% |
| Tangible fixed assets | 22/27 | €1,190,049 | €1,138,704 | -€51,345 | -4.3% |
| Land and buildings | 22 | €1,072,221 | €1,022,917 | -€49,304 | -4.6% |
| Plant, machinery and equipment | 23 | €324 | €758 | +€434 | +134% |
| Furniture and vehicles | 24 | €111,503 | €109,028 | -€2,475 | -2.2% |
| Other tangible fixed assets | 26 | €6,000 | €6,000 | = | 0.0% |
| Financial fixed assets | 28 | €25,000 | €25,000 | = | 0.0% |
| Current assets | 29/58 | €133,667 | €47,071 | -€86,597 | -64.8% |
| Amounts receivable within one year | 40/41 | €124,183 | €39,638 | -€84,545 | -68.1% |
| Trade receivables | 40 | €94,465 | €12,811 | -€81,654 | -86.4% |
| Other amounts receivable | 41 | €29,718 | €26,827 | -€2,891 | -9.7% |
| Cash at bank and in hand | 54/58 | €3,811 | €2,173 | -€1,638 | -43.0% |
| Deferred charges and accrued income | 490/1 | €5,674 | €5,260 | -€413 | -7.3% |
| Total equity and liabilities | 10/49 | €1,348,716 | €1,210,774 | -€137,942 | -10.2% |
| Equity | 10/15 | €377,201 | €314,034 | -€63,167 | -16.7% |
| Contributions | 10/11 | €163,800 | €163,800 | = | 0.0% |
| Reserves | 13 | €213,401 | €150,234 | -€63,167 | -29.6% |
| Non-distributable reserves | 130/1 | €17,000 | €17,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €17,000 | €17,000 | = | 0.0% |
| Distributable reserves | 133 | €196,401 | €133,234 | -€63,167 | -32.2% |
| Provisions and deferred taxes | 16 | €283,904 | €279,650 | -€4,253 | -1.5% |
| Provisions for liabilities and charges | 160/5 | €283,904 | €279,650 | -€4,253 | -1.5% |
| Pensions and similar obligations | 160 | €283,904 | €279,650 | -€4,253 | -1.5% |
| Amounts payable | 17/49 | €687,611 | €617,090 | -€70,521 | -10.3% |
| Amounts payable after more than one year | 17 | €417,575 | €337,246 | -€80,329 | -19.2% |
| Financial debts | 170/4 | €417,575 | €337,246 | -€80,329 | -19.2% |
| Amounts payable within one year | 42/48 | €270,037 | €279,845 | +€9,808 | +3.6% |
| Current portion of amounts payable after more than one year | 42 | €78,969 | €80,329 | +€1,360 | +1.7% |
| Trade debts | 44 | €34,477 | €31,168 | -€3,309 | -9.6% |
| Suppliers | 440/4 | €34,477 | €31,168 | -€3,309 | -9.6% |
| Taxes, remuneration and social security | 45 | €16,904 | €170 | -€16,734 | -99.0% |
| Taxes | 450/3 | €16,904 | €170 | -€16,734 | -99.0% |
| Other amounts payable | 47/48 | €139,686 | €168,177 | +€28,491 | +20.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €3,373 | - | -€3,373 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,004 | €61,868 | +€864 | +1.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€4,199 | -€4,253 | -€54 | -1.3% |
| Other operating charges | 640/8 | €10,275 | €12,947 | +€2,671 | +26.0% |
| Gross operating margin | 9900 | -€80,205 | €34,897 | +€115,102 | |
| Operating profit (loss) | 9901 | -€147,285 | -€35,665 | +€111,621 | +75.8% |
| Financial income | 75/76B | €1,907 | - | -€1,907 | |
| Recurring financial income | 75 | €1,907 | - | -€1,907 | |
| Financial charges | 65/66B | €29,329 | €27,333 | -€1,996 | -6.8% |
| Recurring financial charges | 65 | €29,329 | €27,333 | -€1,996 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | -€174,707 | -€62,997 | +€111,710 | +63.9% |
| Income taxes | 67/77 | €2,554 | €170 | -€2,384 | -93.3% |
| Profit (loss) for the period | 9904 | -€177,261 | -€63,167 | +€114,094 | +64.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€177,261 | -€63,167 | +€114,094 | +64.4% |
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 23 October 2026 via checked.be.