OLSEN ENGINEERING: 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.
OLSEN ENGINEERING
Largest movements
- Receivables within one year +€1.3m
up €1.3m (+89.0%), from €1.5m to €2.8m
of which Trade receivables: +€658,813
- Stocks and contracts -€432,259
down €432,259 (-16.3%), from €2.6m to €2.2m
of which Contracts in progress: -€376,037
- Tangible fixed assets +€142,256
up €142,256 (+24.9%), from €571,839 to €714,095
of which Furniture and vehicles: +€148,396
- Intangible fixed assets -€95,546
down €95,546 (-14.4%), from €662,478 to €566,932
- Debts after one year +€362,613
up €362,613 (+35.3%), from €1.0m to €1.4m
- Trade debts +€311,752
up €311,752 (+32.5%), from €958,090 to €1.3m
- Other debts -€234,583
down €234,583 (-20.6%), from €1.1m to €903,606
- Current portion of long-term debt +€177,460
up €177,460 (+51.5%), from €344,348 to €521,808
- Advances received +€136,777
up €136,777 (+8.7%), from €1.6m to €1.7m
- Staff costs +€313,212
up €313,212 (+12.9%), from €2.4m to €2.7m
- Gross operating margin +€210,579
up €210,579 (+6.5%), from €3.3m to €3.5m
- Financial income +€53,852
up €53,852 (+1,933%), from €2,785 to €56,637
of which Non-recurring financial income: +€56,000
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 | €6,054,636 | €6,927,154 | +€872,517 | +14.4% |
| Fixed assets | 21/28 | €1,554,317 | €1,569,027 | +€14,710 | +0.9% |
| Intangible fixed assets | 21 | €662,478 | €566,932 | -€95,546 | -14.4% |
| Tangible fixed assets | 22/27 | €571,839 | €714,095 | +€142,256 | +24.9% |
| Land and buildings | 22 | €112,241 | €109,756 | -€2,485 | -2.2% |
| Plant, machinery and equipment | 23 | €114,897 | €111,241 | -€3,655 | -3.2% |
| Furniture and vehicles | 24 | €344,702 | €493,098 | +€148,396 | +43.1% |
| Financial fixed assets | 28 | €320,000 | €288,000 | -€32,000 | -10.0% |
| Current assets | 29/58 | €4,500,319 | €5,358,127 | +€857,808 | +19.1% |
| Stocks and contracts in progress | 3 | €2,646,694 | €2,214,435 | -€432,259 | -16.3% |
| Stocks | 30/36 | €689,099 | €632,878 | -€56,221 | -8.2% |
| Contracts in progress | 37 | €1,957,595 | €1,581,557 | -€376,037 | -19.2% |
| Amounts receivable within one year | 40/41 | €1,468,570 | €2,776,073 | +€1.3m | +89.0% |
| Trade receivables | 40 | €1,452,005 | €2,110,819 | +€658,813 | +45.4% |
| Other amounts receivable | 41 | €16,565 | €665,254 | +€648,689 | +3,916% |
| Cash at bank and in hand | 54/58 | €303,343 | €312,003 | +€8,659 | +2.9% |
| Deferred charges and accrued income | 490/1 | €81,712 | €55,616 | -€26,096 | -31.9% |
| Total equity and liabilities | 10/49 | €6,054,636 | €6,927,154 | +€872,517 | +14.4% |
| Equity | 10/15 | €725,215 | €882,556 | +€157,341 | +21.7% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €189,450 | €231,550 | +€42,100 | +22.2% |
| Tax-exempt reserves | 132 | €189,450 | €231,550 | +€42,100 | +22.2% |
| Profit (loss) carried forward | 14 | €435,765 | €551,006 | +€115,241 | +26.4% |
| Amounts payable | 17/49 | €5,329,422 | €6,044,597 | +€715,176 | +13.4% |
| Amounts payable after more than one year | 17 | €1,026,780 | €1,389,392 | +€362,613 | +35.3% |
| Financial debts | 170/4 | €1,026,780 | €1,389,392 | +€362,613 | +35.3% |
| Amounts payable within one year | 42/48 | €4,275,704 | €4,619,686 | +€343,982 | +8.0% |
| Current portion of amounts payable after more than one year | 42 | €344,348 | €521,808 | +€177,460 | +51.5% |
| Trade debts | 44 | €958,090 | €1,269,841 | +€311,752 | +32.5% |
| Suppliers | 440/4 | €958,090 | €1,269,841 | +€311,752 | +32.5% |
| Advances received on contracts in progress | 46 | €1,573,062 | €1,709,838 | +€136,777 | +8.7% |
| Taxes, remuneration and social security | 45 | €262,015 | €214,592 | -€47,423 | -18.1% |
| Taxes | 450/3 | €1,918 | - | -€1,918 | |
| Remuneration and social security | 454/9 | €260,097 | €214,592 | -€45,505 | -17.5% |
| Other amounts payable | 47/48 | €1,138,189 | €903,606 | -€234,583 | -20.6% |
| Accrued charges and deferred income | 492/3 | €26,938 | €35,520 | +€8,581 | +31.9% |
| Non-recurring operating income | 76A | €5,853 | - | -€5,853 | |
| Remuneration, social security and pensions | 62 | €2,431,174 | €2,744,386 | +€313,212 | +12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €303,737 | €273,510 | -€30,227 | -10.0% |
| Other operating charges | 640/8 | €16,385 | €21,235 | +€4,850 | +29.6% |
| Gross operating margin | 9900 | €3,257,828 | €3,468,407 | +€210,579 | +6.5% |
| Operating profit (loss) | 9901 | €506,533 | €429,276 | -€77,257 | -15.3% |
| Financial income | 75/76B | €2,785 | €56,637 | +€53,852 | +1,933% |
| Recurring financial income | 75 | €2,785 | €637 | -€2,148 | -77.1% |
| Non-recurring financial income | 76B | - | €56,000 | +€56,000 | |
| Financial charges | 65/66B | €24,839 | €53,673 | +€28,834 | +116% |
| Recurring financial charges | 65 | €24,336 | €53,673 | +€29,337 | +121% |
| Non-recurring financial charges | 66B | €503 | - | -€503 | |
| Profit (loss) for the period before taxes | 9903 | €484,479 | €432,240 | -€52,240 | -10.8% |
| Income taxes | 67/77 | €91,069 | €74,898 | -€16,171 | -17.8% |
| Profit (loss) for the period | 9904 | €393,411 | €357,341 | -€36,069 | -9.2% |
| Transfer to tax-exempt reserves | 689 | €84,200 | €42,100 | -€42,100 | -50.0% |
| Profit (loss) for the period to be appropriated | 9905 | €309,211 | €315,241 | +€6,031 | +2.0% |
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 16 October 2026 via checked.be.