O.H.E.: 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
O.H.E.
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
-€25,106
2025 · -€75,421+€50,315
Equity
€2.1m
2025 · €2.2m-€25,106
Cash
€252,250
2025 · €308,706-€56,456
Balance sheet total
€11.0m
2025 · €10.4m+€510,179
Largest movements
Assets
- Receivables within one year +€941,431
up €941,431 (+209%), from €450,679 to €1.4m
of which Other amounts receivable: +€838,077
- Tangible fixed assets -€382,647
down €382,647 (-4.4%), from €8.6m to €8.2m
of which Leasing and similar rights: -€366,880
Equity and liabilities
- Other debts +€1.0m
up €1.0m (+106%), from €945,530 to €1.9m
- Debts after one year -€477,746
down €477,746 (-7.3%), from €6.6m to €6.1m
of which Financial debts: -€486,354
Income statement
- Gross operating margin +€51,110
up €51,110 (+8.4%), from €606,572 to €657,682
- Depreciation -€10,640
down €10,640 (-2.3%), from €460,384 to €449,744
- Financial charges +€7,454
up €7,454 (+3.3%), from €223,921 to €231,375
From the 2025 result to the 2026 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 2025
-€75,421
Gross operating margin
+€51,110
Depreciation
+€10,640
Other operating charges
-€1,221
Financial income
-€2,760
Financial charges
-€7,454
Result 2026
-€25,106
raises the resultlowers the result
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€475,279
Investment
-€67,096
Financing
-€464,638
Cash 2025
€308,706
From operations (derived)
+€475,279
Net result for the year
-€25,106
Depreciation
+€449,744
Receivables within one year
-€941,431
Deferred charges and accrued income
-€7,851
Provisions
-€18,084
Trade debts
+€659
Other debts
+€1.0m
Accrued charges and deferred income
+€14,169
Investment (derived)
-€67,096
Investment in fixed assets (net)
-€67,096
Financing
-€464,638
Debts after one year
-€477,746
Current portion of long-term debt
+€13,108
Cash 2026
€252,250
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,449,085 | €10,959,264 | +€510,179 | +4.9% |
| Fixed assets | 21/28 | €9,616,619 | €9,233,972 | -€382,647 | -4.0% |
| Tangible fixed assets | 22/27 | €8,616,619 | €8,233,972 | -€382,647 | -4.4% |
| Land and buildings | 22 | €1,999,464 | €2,001,782 | +€2,318 | +0.1% |
| Leasing and similar rights | 25 | €6,335,465 | €5,968,585 | -€366,880 | -5.8% |
| Other tangible fixed assets | 26 | €281,690 | €263,605 | -€18,085 | -6.4% |
| Financial fixed assets | 28 | €1,000,000 | €1,000,000 | = | 0.0% |
| Current assets | 29/58 | €832,466 | €1,725,291 | +€892,826 | +107% |
| Amounts receivable within one year | 40/41 | €450,679 | €1,392,110 | +€941,431 | +209% |
| Trade receivables | 40 | €38,031 | €141,385 | +€103,353 | +272% |
| Other amounts receivable | 41 | €412,648 | €1,250,725 | +€838,077 | +203% |
| Cash at bank and in hand | 54/58 | €308,706 | €252,250 | -€56,456 | -18.3% |
| Deferred charges and accrued income | 490/1 | €73,081 | €80,932 | +€7,851 | +10.7% |
| Total equity and liabilities | 10/49 | €10,449,085 | €10,959,264 | +€510,179 | +4.9% |
| Equity | 10/15 | €2,152,004 | €2,126,898 | -€25,106 | -1.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €2,090,004 | €2,064,898 | -€25,106 | -1.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €806,611 | €752,358 | -€54,253 | -6.7% |
| Distributable reserves | 133 | €1,277,194 | €1,306,340 | +€29,147 | +2.3% |
| Provisions and deferred taxes | 16 | €268,807 | €250,722 | -€18,084 | -6.7% |
| Deferred taxes | 168 | €268,807 | €250,722 | -€18,084 | -6.7% |
| Amounts payable | 17/49 | €8,028,274 | €8,581,643 | +€553,369 | +6.9% |
| Amounts payable after more than one year | 17 | €6,565,520 | €6,087,774 | -€477,746 | -7.3% |
| Financial debts | 170/4 | €6,253,680 | €5,767,326 | -€486,354 | -7.8% |
| Other amounts payable | 178/9 | €311,840 | €320,448 | +€8,607 | +2.8% |
| Amounts payable within one year | 42/48 | €1,430,153 | €2,447,100 | +€1.0m | +71.1% |
| Current portion of amounts payable after more than one year | 42 | €473,245 | €486,354 | +€13,108 | +2.8% |
| Trade debts | 44 | €6,378 | €7,037 | +€659 | +10.3% |
| Suppliers | 440/4 | €6,378 | €7,037 | +€659 | +10.3% |
| Taxes, remuneration and social security | 45 | €5,000 | €5,000 | = | 0.0% |
| Taxes | 450/3 | €5,000 | €5,000 | = | 0.0% |
| Other amounts payable | 47/48 | €945,530 | €1,948,709 | +€1.0m | +106% |
| Accrued charges and deferred income | 492/3 | €32,601 | €46,770 | +€14,169 | +43.5% |
| Non-recurring operating income | 76A | - | €40,030 | +€40,030 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €460,384 | €449,744 | -€10,640 | -2.3% |
| Other operating charges | 640/8 | €45,358 | €46,579 | +€1,221 | +2.7% |
| Gross operating margin | 9900 | €606,572 | €657,682 | +€51,110 | +8.4% |
| Operating profit (loss) | 9901 | €100,831 | €161,359 | +€60,529 | +60.0% |
| Financial income | 75/76B | €29,585 | €26,825 | -€2,760 | -9.3% |
| Recurring financial income | 75 | €29,585 | €26,825 | -€2,760 | -9.3% |
| Financial charges | 65/66B | €223,921 | €231,375 | +€7,454 | +3.3% |
| Recurring financial charges | 65 | €223,921 | €231,375 | +€7,454 | +3.3% |
| Profit (loss) for the period before taxes | 9903 | -€93,506 | -€43,191 | +€50,315 | +53.8% |
| Transfer from deferred taxes | 780 | €18,084 | €18,084 | = | 0.0% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€75,421 | -€25,106 | +€50,315 | +66.7% |
| Transfer from tax-exempt reserves | 789 | €54,253 | €54,253 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,168 | €29,147 | +€50,315 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.