OYSTERSHELL: 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.
What changed
OYSTERSHELL
NACE 72.109, Other research and development on natural sciences
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€5.8m
2024 · €6.5m-€729,302
Equity
€15.1m
2024 · €9.3m+€5.8m
Cash
€8.4m
2024 · €8.5m-€80,881
Balance sheet total
€32.7m
2024 · €31.3m+€1.4m
Largest movements
Assets
- Current investments +€2.6m
up €2.6m, from €0 to €2.6m
- Financial fixed assets -€918,665
down €918,665 (-13.4%), from €6.9m to €6.0m
of which Affiliated companies: -€933,665
- Intangible fixed assets +€509,067
up €509,067 (+14.6%), from €3.5m to €4.0m
- Stocks and contracts -€353,203
down €353,203 (-23.8%), from €1.5m to €1.1m
Equity and liabilities
- Profit (loss) carried forward +€5.8m
up €5.8m (+70.3%), from €8.3m to €14.2m
- Debts after one year -€2.1m
down €2.1m (-32.5%), from €6.6m to €4.4m
- Other debts -€1.2m
down €1.2m (-21.3%), from €5.7m to €4.5m
- Trade debts -€1.1m
down €1.1m (-15.3%), from €6.9m to €5.9m
Income statement
- Financial charges +€808,441
up €808,441 (+118.1%), from €684,686 to €1.5m
- Goods and materials -€682,560
down €682,560 (-3.3%), from €20.7m to €20.1m
of which Purchases: -€1.0m
- Depreciation +€461,320
up €461,320 (+30.0%), from €1.5m to €2.0m
- Turnover +€426,432
up €426,432 (+1.1%), from €39.4m to €39.8m
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
€6.5m
Turnover
+€426,432
Other operating income
-€35,844
Goods and materials
+€682,560
Services and other goods
-€146,380
Staff costs
-€91,784
Depreciation
-€461,320
Other operating charges
+€1,628
Other operating items
+€143,590
Financial income
-€365,403
Financial charges
-€808,441
Taxes
-€74,341
Result 2025
€5.8m
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
+€6.1m
Investment
-€4.1m
Financing
-€2.0m
Cash 2024
€8.5m
From operations (derived)
+€6.1m
Net result for the year
+€5.8m
Depreciation
+€2.0m
Stocks and contracts
+€353,203
Receivables within one year
+€317,212
Deferred charges and accrued income
-€25,370
Trade debts
-€1.1m
Tax, wage and social debts
+€67,933
Other debts
-€1.2m
Accrued charges and deferred income
-€148,611
Investment (derived)
-€4.1m
Investment in fixed assets (net)
-€1.5m
Current investments
-€2.6m
Financing
-€2.0m
Debts after one year
-€2.1m
Current portion of long-term debt
+€105,127
Cash 2025
€8.4m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €31,333,105 | €32,739,622 | +€1.4m | +4.5% |
| Fixed assets | 21/28 | €14,163,932 | €13,678,097 | -€485,835 | -3.4% |
| Intangible fixed assets | 21 | €3,479,210 | €3,988,277 | +€509,067 | +14.6% |
| Tangible fixed assets | 22/27 | €3,815,938 | €3,739,702 | -€76,237 | -2.0% |
| Land and buildings | 22 | €2,624,172 | €2,543,833 | -€80,340 | -3.1% |
| Plant, machinery and equipment | 23 | €1,112,333 | €1,119,679 | +€7,346 | +0.7% |
| Furniture and vehicles | 24 | €79,433 | €76,190 | -€3,243 | -4.1% |
| Financial fixed assets | 28 | €6,868,783 | €5,950,118 | -€918,665 | -13.4% |
| Affiliated companies | 280/1 | €6,868,783 | €5,935,118 | -€933,665 | -13.6% |
| Amounts receivable | 281 | €6,868,783 | €5,935,118 | -€933,665 | -13.6% |
| Other financial fixed assets | 284/8 | - | €15,000 | +€15,000 | |
| Amounts receivable and cash guarantees | 285/8 | - | €15,000 | +€15,000 | |
| Current assets | 29/58 | €17,169,173 | €19,061,525 | +€1.9m | +11.0% |
| Stocks and contracts in progress | 3 | €1,486,158 | €1,132,956 | -€353,203 | -23.8% |
| Stocks | 30/36 | €1,486,158 | €1,132,956 | -€353,203 | -23.8% |
| Raw materials and consumables | 30/31 | €604,773 | €355,617 | -€249,156 | -41.2% |
| Work in progress | 32 | €83,088 | €34,771 | -€48,317 | -58.2% |
| Finished goods | 33 | €798,298 | €742,568 | -€55,730 | -7.0% |
| Amounts receivable within one year | 40/41 | €7,019,394 | €6,702,182 | -€317,212 | -4.5% |
| Trade receivables | 40 | €6,211,434 | €6,087,954 | -€123,479 | -2.0% |
| Other amounts receivable | 41 | €807,960 | €614,227 | -€193,733 | -24.0% |
| Current investments | 50/53 | €0 | €2,618,278 | +€2.6m | |
| Other investments | 51/53 | €0 | €2,618,278 | +€2.6m | |
| Cash at bank and in hand | 54/58 | €8,458,890 | €8,378,009 | -€80,881 | -1.0% |
| Deferred charges and accrued income | 490/1 | €204,731 | €230,101 | +€25,370 | +12.4% |
| Total equity and liabilities | 10/49 | €31,333,105 | €32,739,622 | +€1.4m | +4.5% |
| Equity | 10/15 | €9,283,382 | €15,055,342 | +€5.8m | +62.2% |
| Contributions | 10/11 | €862,546 | €862,546 | = | 0.0% |
| Capital | 10 | €66,960 | €66,960 | = | 0.0% |
| Issued capital | 100 | €66,960 | €66,960 | = | 0.0% |
| Outside capital | 11 | €795,586 | €795,586 | = | 0.0% |
| Share premium | 1100/10 | €795,586 | €795,586 | = | 0.0% |
| Reserves | 13 | €108,450 | €36,200 | -€72,250 | -66.6% |
| Non-distributable reserves | 130/1 | €36,200 | €36,200 | = | 0.0% |
| Legal reserve | 130 | €36,200 | €36,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €72,250 | - | -€72,250 | |
| Profit (loss) carried forward | 14 | €8,312,386 | €14,156,596 | +€5.8m | +70.3% |
| Amounts payable | 17/49 | €22,049,723 | €17,684,279 | -€4.4m | -19.8% |
| Amounts payable after more than one year | 17 | €6,555,620 | €4,427,904 | -€2.1m | -32.5% |
| Financial debts | 170/4 | €6,555,620 | €4,427,904 | -€2.1m | -32.5% |
| Credit institutions | 173 | €6,555,620 | €4,427,904 | -€2.1m | -32.5% |
| Amounts payable within one year | 42/48 | €15,334,314 | €13,245,197 | -€2.1m | -13.6% |
| Current portion of amounts payable after more than one year | 42 | €2,022,589 | €2,127,716 | +€105,127 | +5.2% |
| Trade debts | 44 | €6,930,509 | €5,873,148 | -€1.1m | -15.3% |
| Suppliers | 440/4 | €6,930,509 | €5,873,148 | -€1.1m | -15.3% |
| Taxes, remuneration and social security | 45 | €726,353 | €794,287 | +€67,933 | +9.4% |
| Taxes | 450/3 | - | €32,500 | +€32,500 | |
| Remuneration and social security | 454/9 | €726,353 | €761,787 | +€35,433 | +4.9% |
| Other amounts payable | 47/48 | €5,654,863 | €4,450,047 | -€1.2m | -21.3% |
| Accrued charges and deferred income | 492/3 | €159,789 | €11,178 | -€148,611 | -93.0% |
| Operating income | 70/76A | €40,859,355 | €41,393,533 | +€534,179 | +1.3% |
| Turnover | 70 | €39,384,638 | €39,811,070 | +€426,432 | +1.1% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€293,210 | -€104,047 | +€189,163 | +64.5% |
| Own construction capitalised | 72 | €447,254 | €401,681 | -€45,573 | -10.2% |
| Other operating income | 74 | €1,320,672 | €1,284,828 | -€35,844 | -2.7% |
| Operating charges | 60/66A | €34,269,180 | €34,284,475 | +€15,296 | 0.0% |
| Goods for resale, raw materials and consumables | 60 | €20,747,647 | €20,065,087 | -€682,560 | -3.3% |
| Purchases | 600/8 | €20,820,023 | €19,815,931 | -€1.0m | -4.8% |
| Change in stocks: decrease (increase) | 609 | -€72,377 | €249,156 | +€321,533 | |
| Services and other goods | 61 | €7,525,252 | €7,671,632 | +€146,380 | +1.9% |
| Remuneration, social security and pensions | 62 | €4,430,861 | €4,522,645 | +€91,784 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,539,187 | €2,000,506 | +€461,320 | +30.0% |
| Other operating charges | 640/8 | €26,232 | €24,605 | -€1,628 | -6.2% |
| Operating profit (loss) | 9901 | €6,590,175 | €7,109,058 | +€518,883 | +7.9% |
| Financial income | 75/76B | €787,200 | €421,797 | -€365,403 | -46.4% |
| Recurring financial income | 75 | €787,200 | €421,797 | -€365,403 | -46.4% |
| Income from financial fixed assets | 750 | €366,652 | €314,599 | -€52,053 | -14.2% |
| Income from current assets | 751 | - | €106,965 | +€106,965 | |
| Other financial income | 752/9 | €420,548 | €233 | -€420,315 | -99.9% |
| Financial charges | 65/66B | €684,686 | €1,493,128 | +€808,441 | +118.1% |
| Recurring financial charges | 65 | €684,686 | €1,493,128 | +€808,441 | +118.1% |
| Debt charges | 650 | €654,297 | €620,087 | -€34,209 | -5.2% |
| Other financial charges | 652/9 | €30,390 | €873,040 | +€842,651 | +2772.8% |
| Profit (loss) for the period before taxes | 9903 | €6,692,689 | €6,037,728 | -€654,961 | -9.8% |
| Income taxes | 67/77 | €191,426 | €265,767 | +€74,341 | +38.8% |
| Taxes | 670/3 | €327,656 | €343,538 | +€15,881 | +4.8% |
| Tax adjustments and reversals of tax provisions | 77 | €136,230 | €77,770 | -€58,460 | -42.9% |
| Profit (loss) for the period | 9904 | €6,501,263 | €5,771,960 | -€729,302 | -11.2% |
| Transfer from tax-exempt reserves | 789 | €835,567 | €72,250 | -€763,317 | -91.4% |
| Profit (loss) for the period to be appropriated | 9905 | €7,336,830 | €5,844,210 | -€1.5m | -20.3% |
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 3 October 2026 via checked.be.