Oxygen: 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.
Oxygen
Largest movements
- Receivables within one year +€167,529
up €167,529 (+19.7%), from €850,438 to €1.0m
of which Trade receivables: +€189,376
- Cash +€21,687
up €21,687 (+3.4%), from €634,370 to €656,057
mainly Net result for the year (+€629,080) and Other debts (+€83,585)
- Intangible fixed assets +€20,295
new in 2025: €20,295
- Reserves +€173,080
up €173,080 (+663.8%), from €26,074 to €199,153
of which Distributable reserves: +€173,080
- Accrued charges and deferred income -€116,165
down €116,165 (-58.6%), from €198,175 to €82,010
- Other debts +€83,585
up €83,585 (+30.6%), from €273,600 to €357,185
- Tax, wage and social debts +€74,540
up €74,540 (+22.5%), from €331,595 to €406,135
of which Taxes: +€44,809
- Trade debts -€21,907
down €21,907 (-3.7%), from €595,883 to €573,976
- Gross operating margin +€724,821
up €724,821 (+22.1%), from €3.3m to €4.0m
- Staff costs +€233,166
up €233,166 (+8.4%), from €2.8m to €3.0m
- Taxes +€125,695
up €125,695 (+84.8%), from €148,154 to €273,849
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 | €1,665,841 | €1,858,943 | +€193,102 | +11.6% |
| Fixed assets | 21/28 | €97,131 | €116,889 | +€19,759 | +20.3% |
| Intangible fixed assets | 21 | - | €20,295 | +€20,295 | |
| Tangible fixed assets | 22/27 | €94,723 | €94,187 | -€536 | -0.6% |
| Plant, machinery and equipment | 23 | €906 | €16,241 | +€15,335 | +1692.8% |
| Furniture and vehicles | 24 | €71,407 | €60,926 | -€10,481 | -14.7% |
| Other tangible fixed assets | 26 | €22,409 | €17,020 | -€5,390 | -24.1% |
| Financial fixed assets | 28 | €2,408 | €2,408 | = | 0.0% |
| Current assets | 29/58 | €1,568,710 | €1,742,054 | +€173,343 | +11.1% |
| Amounts receivable within one year | 40/41 | €850,438 | €1,017,967 | +€167,529 | +19.7% |
| Trade receivables | 40 | €816,487 | €1,005,862 | +€189,376 | +23.2% |
| Other amounts receivable | 41 | €33,951 | €12,105 | -€21,846 | -64.3% |
| Cash at bank and in hand | 54/58 | €634,370 | €656,057 | +€21,687 | +3.4% |
| Deferred charges and accrued income | 490/1 | €83,903 | €68,030 | -€15,873 | -18.9% |
| Total equity and liabilities | 10/49 | €1,665,841 | €1,858,943 | +€193,102 | +11.6% |
| Equity | 10/15 | €266,074 | €439,153 | +€173,080 | +65.0% |
| Contributions | 10/11 | €240,000 | €240,000 | = | 0.0% |
| Capital | 10 | €240,000 | €240,000 | = | 0.0% |
| Issued capital | 100 | €240,000 | €240,000 | = | 0.0% |
| Reserves | 13 | €26,074 | €199,153 | +€173,080 | +663.8% |
| Non-distributable reserves | 130/1 | €24,000 | €24,000 | = | 0.0% |
| Legal reserve | 130 | €24,000 | €24,000 | = | 0.0% |
| Distributable reserves | 133 | €2,074 | €175,153 | +€173,080 | +8346.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,399,767 | €1,419,790 | +€20,023 | +1.4% |
| Amounts payable within one year | 42/48 | €1,201,592 | €1,337,780 | +€136,188 | +11.3% |
| Financial debts | 43 | €514 | €484 | -€29 | -5.7% |
| Credit institutions | 430/8 | €514 | €484 | -€29 | -5.7% |
| Trade debts | 44 | €595,883 | €573,976 | -€21,907 | -3.7% |
| Suppliers | 440/4 | €595,883 | €573,976 | -€21,907 | -3.7% |
| Taxes, remuneration and social security | 45 | €331,595 | €406,135 | +€74,540 | +22.5% |
| Taxes | 450/3 | €9,428 | €54,237 | +€44,809 | +475.3% |
| Remuneration and social security | 454/9 | €322,166 | €351,898 | +€29,732 | +9.2% |
| Other amounts payable | 47/48 | €273,600 | €357,185 | +€83,585 | +30.6% |
| Accrued charges and deferred income | 492/3 | €198,175 | €82,010 | -€116,165 | -58.6% |
| Remuneration, social security and pensions | 62 | €2,782,371 | €3,015,537 | +€233,166 | +8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,511 | €25,214 | +€703 | +2.9% |
| Other operating charges | 640/8 | €13,782 | €23,792 | +€10,010 | +72.6% |
| Gross operating margin | 9900 | €3,273,735 | €3,998,556 | +€724,821 | +22.1% |
| Operating profit (loss) | 9901 | €453,072 | €934,014 | +€480,942 | +106.2% |
| Financial income | 75/76B | €3 | €257 | +€254 | +9921.5% |
| Recurring financial income | 75 | €3 | €257 | +€254 | +9921.5% |
| Financial charges | 65/66B | €29,328 | €31,342 | +€2,014 | +6.9% |
| Recurring financial charges | 65 | €29,328 | €31,342 | +€2,014 | +6.9% |
| Profit (loss) for the period before taxes | 9903 | €423,747 | €902,928 | +€479,182 | +113.1% |
| Income taxes | 67/77 | €148,154 | €273,849 | +€125,695 | +84.8% |
| Profit (loss) for the period | 9904 | €275,593 | €629,080 | +€353,487 | +128.3% |
| Profit (loss) for the period to be appropriated | 9905 | €275,593 | €629,080 | +€353,487 | +128.3% |
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 5 October 2026 via checked.be.