ODAN: 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.
ODAN
Largest movements
- Cash +€298,321
up €298,321 (+11.9%), from €2.5m to €2.8m
mainly Net result for the year (+€511,045) and Depreciation (+€43,927)
- Receivables after one year +€225,000
up €225,000 (+18.9%), from €1.2m to €1.4m
- Reserves +€511,045
up €511,045 (+12.5%), from €4.1m to €4.6m
of which Distributable reserves: +€511,045
- Financial income +€165,460
up €165,460 (+57.6%), from €287,122 to €452,582
- Financial charges -€51,795
down €51,795 (-80.4%), from €64,435 to €12,640
- Gross operating margin +€35,911
up €35,911 (+29.7%), from €120,778 to €156,689
- Depreciation +€5,659
up €5,659 (+14.8%), from €38,268 to €43,927
- Taxes +€2,435
up €2,435 (+6.2%), from €39,224 to €41,658
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 | €4,902,115 | €5,429,163 | +€527,048 | +10.8% |
| Fixed assets | 21/28 | €1,086,033 | €1,047,388 | -€38,644 | -3.6% |
| Tangible fixed assets | 22/27 | €291,245 | €252,601 | -€38,644 | -13.3% |
| Land and buildings | 22 | €177,492 | €160,874 | -€16,618 | -9.4% |
| Plant, machinery and equipment | 23 | €2,652 | €6,837 | +€4,185 | +158% |
| Furniture and vehicles | 24 | €111,102 | €84,890 | -€26,212 | -23.6% |
| Financial fixed assets | 28 | €794,788 | €794,788 | = | 0.0% |
| Current assets | 29/58 | €3,816,083 | €4,381,775 | +€565,692 | +14.8% |
| Amounts receivable after more than one year | 29 | €1,187,716 | €1,412,716 | +€225,000 | +18.9% |
| Trade receivables | 290 | €1,187,716 | €1,412,716 | +€225,000 | +18.9% |
| Amounts receivable within one year | 40/41 | €31,635 | €49,384 | +€17,749 | +56.1% |
| Other amounts receivable | 41 | €31,635 | €49,384 | +€17,749 | +56.1% |
| Cash at bank and in hand | 54/58 | €2,502,485 | €2,800,806 | +€298,321 | +11.9% |
| Deferred charges and accrued income | 490/1 | €94,247 | €118,870 | +€24,623 | +26.1% |
| Total equity and liabilities | 10/49 | €4,902,115 | €5,429,163 | +€527,048 | +10.8% |
| Equity | 10/15 | €4,321,889 | €4,832,934 | +€511,045 | +11.8% |
| Contributions | 10/11 | €247,894 | €247,894 | = | 0.0% |
| Capital | 10 | €247,894 | €247,894 | = | 0.0% |
| Issued capital | 100 | €247,894 | €247,894 | = | 0.0% |
| Reserves | 13 | €4,073,996 | €4,585,041 | +€511,045 | +12.5% |
| Non-distributable reserves | 130/1 | €69,744 | €69,744 | = | 0.0% |
| Legal reserve | 130 | €69,744 | €69,744 | = | 0.0% |
| Tax-exempt reserves | 132 | €62,616 | €62,616 | = | 0.0% |
| Distributable reserves | 133 | €3,941,636 | €4,452,681 | +€511,045 | +13.0% |
| Amounts payable | 17/49 | €580,226 | €596,229 | +€16,003 | +2.8% |
| Amounts payable after more than one year | 17 | €170,000 | €170,000 | = | 0.0% |
| Financial debts | 170/4 | €170,000 | €170,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €396,468 | €400,486 | +€4,017 | +1.0% |
| Trade debts | 44 | €3,446 | €425 | -€3,021 | -87.7% |
| Suppliers | 440/4 | €3,446 | €425 | -€3,021 | -87.7% |
| Taxes, remuneration and social security | 45 | €9,933 | €10,506 | +€573 | +5.8% |
| Taxes | 450/3 | €9,933 | €10,506 | +€573 | +5.8% |
| Other amounts payable | 47/48 | €383,089 | €389,555 | +€6,465 | +1.7% |
| Accrued charges and deferred income | 492/3 | €13,758 | €25,743 | +€11,985 | +87.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,268 | €43,927 | +€5,659 | +14.8% |
| Gross operating margin | 9900 | €120,778 | €156,689 | +€35,911 | +29.7% |
| Operating profit (loss) | 9901 | €82,510 | €112,762 | +€30,252 | +36.7% |
| Financial income | 75/76B | €287,122 | €452,582 | +€165,460 | +57.6% |
| Recurring financial income | 75 | €287,122 | €452,582 | +€165,460 | +57.6% |
| Financial charges | 65/66B | €64,435 | €12,640 | -€51,795 | -80.4% |
| Recurring financial charges | 65 | €64,435 | €12,640 | -€51,795 | -80.4% |
| Profit (loss) for the period before taxes | 9903 | €305,197 | €552,703 | +€247,506 | +81.1% |
| Income taxes | 67/77 | €39,224 | €41,658 | +€2,435 | +6.2% |
| Profit (loss) for the period | 9904 | €265,973 | €511,045 | +€245,072 | +92.1% |
| Profit (loss) for the period to be appropriated | 9905 | €265,973 | €511,045 | +€245,072 | +92.1% |
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 26 October 2026 via checked.be.