Arnaud Opsomer: 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.
Arnaud Opsomer
Largest movements
- Tangible fixed assets -€15,396
down €15,396 (-22.8%), from €67,413 to €52,017
- Cash +€15,070
up €15,070 (+68.8%), from €21,913 to €36,983
mainly Depreciation (+€15,131) and Net result for the year (+€15,105)
- Receivables within one year +€3,948
up €3,948 (+19.9%), from €19,847 to €23,794
of which Trade receivables: +€4,577
- Deferred charges and accrued income -€3,007
down €3,007 (-98.6%), from €3,050 to €43
- Debts after one year -€16,277
down €16,277 (-20.6%), from €79,033 to €62,756
- Reserves +€15,105
up €15,105 (+152%), from €9,926 to €25,030
- Trade debts +€1,612
up €1,612 (+210%), from €767 to €2,380
- Gross operating margin +€18,268
up €18,268 (+80.5%), from €22,699 to €40,967
- Depreciation +€7,111
up €7,111 (+88.7%), from €8,020 to €15,131
- Taxes +€3,698
up €3,698 (+148%), from €2,499 to €6,197
- Financial charges +€1,345
up €1,345 (+93.3%), from €1,441 to €2,786
- Other operating charges +€935
up €935 (+115%), from €815 to €1,749
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 | €113,185 | €113,800 | +€615 | +0.5% |
| Fixed assets | 21/28 | €68,375 | €52,979 | -€15,396 | -22.5% |
| Tangible fixed assets | 22/27 | €67,413 | €52,017 | -€15,396 | -22.8% |
| Furniture and vehicles | 24 | €67,413 | €52,017 | -€15,396 | -22.8% |
| Financial fixed assets | 28 | €962 | €962 | = | 0.0% |
| Current assets | 29/58 | €44,810 | €60,821 | +€16,011 | +35.7% |
| Amounts receivable within one year | 40/41 | €19,847 | €23,794 | +€3,948 | +19.9% |
| Trade receivables | 40 | €18,353 | €22,930 | +€4,577 | +24.9% |
| Other amounts receivable | 41 | €1,494 | €864 | -€629 | -42.1% |
| Cash at bank and in hand | 54/58 | €21,913 | €36,983 | +€15,070 | +68.8% |
| Deferred charges and accrued income | 490/1 | €3,050 | €43 | -€3,007 | -98.6% |
| Total equity and liabilities | 10/49 | €113,185 | €113,800 | +€615 | +0.5% |
| Equity | 10/15 | €12,426 | €27,530 | +€15,105 | +122% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €9,926 | €25,030 | +€15,105 | +152% |
| Distributable reserves | 133 | €9,926 | €25,030 | +€15,105 | +152% |
| Amounts payable | 17/49 | €100,760 | €86,270 | -€14,490 | -14.4% |
| Amounts payable after more than one year | 17 | €79,033 | €62,756 | -€16,277 | -20.6% |
| Financial debts | 170/4 | €79,033 | €62,756 | -€16,277 | -20.6% |
| Amounts payable within one year | 42/48 | €21,705 | €23,513 | +€1,808 | +8.3% |
| Current portion of amounts payable after more than one year | 42 | €15,803 | €16,277 | +€474 | +3.0% |
| Trade debts | 44 | €767 | €2,380 | +€1,612 | +210% |
| Suppliers | 440/4 | €767 | €2,380 | +€1,612 | +210% |
| Taxes, remuneration and social security | 45 | €3,711 | €3,197 | -€514 | -13.8% |
| Taxes | 450/3 | €3,711 | €3,197 | -€514 | -13.8% |
| Other amounts payable | 47/48 | €1,425 | €1,660 | +€235 | +16.5% |
| Accrued charges and deferred income | 492/3 | €21 | €0 | -€21 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,020 | €15,131 | +€7,111 | +88.7% |
| Other operating charges | 640/8 | €815 | €1,749 | +€935 | +115% |
| Gross operating margin | 9900 | €22,699 | €40,967 | +€18,268 | +80.5% |
| Operating profit (loss) | 9901 | €13,865 | €24,087 | +€10,222 | +73.7% |
| Financial charges | 65/66B | €1,441 | €2,786 | +€1,345 | +93.3% |
| Recurring financial charges | 65 | €1,441 | €2,786 | +€1,345 | +93.3% |
| Profit (loss) for the period before taxes | 9903 | €12,424 | €21,301 | +€8,877 | +71.4% |
| Income taxes | 67/77 | €2,499 | €6,197 | +€3,698 | +148% |
| Profit (loss) for the period | 9904 | €9,926 | €15,105 | +€5,179 | +52.2% |
| Profit (loss) for the period to be appropriated | 9905 | €9,926 | €15,105 | +€5,179 | +52.2% |
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.