Dr. Nick Van Opstal: 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.
Dr. Nick Van Opstal
Largest movements
- Current investments -€138,000
down €138,000 (-83.5%), from €165,179 to €27,179
- Intangible fixed assets -€70,000
down €70,000 (-50.0%), from €140,000 to €70,000
- Cash -€54,184
down €54,184 (-50.3%), from €107,747 to €53,563
mainly Contributions, distributions and other (-€180,000) and Other debts (-€165,750)
- Other debts -€165,750
down €165,750 (-100%), from €165,750 to €0
- Debts after one year -€73,574
down €73,574 (-62.9%), from €116,931 to €43,358
- Tax, wage and social debts -€17,144
down €17,144 (-71.0%), from €24,151 to €7,008
- Reserves -€8,138
down €8,138 (-19.9%), from €40,809 to €32,671
- Gross operating margin +€87,720
up €87,720 (+39.9%), from €219,888 to €307,608
- Taxes +€21,614
up €21,614 (+64.4%), from €33,543 to €55,158
- Financial income -€6,028
down €6,028 (-62.4%), from €9,660 to €3,632
- Depreciation +€3,093
up €3,093 (+4.1%), from €74,898 to €77,991
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 | €445,846 | €182,570 | -€263,276 | -59.1% |
| Fixed assets | 21/28 | €159,930 | €93,103 | -€66,827 | -41.8% |
| Intangible fixed assets | 21 | €140,000 | €70,000 | -€70,000 | -50.0% |
| Tangible fixed assets | 22/27 | €19,930 | €23,103 | +€3,173 | +15.9% |
| Land and buildings | 22 | €8,975 | €5,269 | -€3,706 | -41.3% |
| Plant, machinery and equipment | 23 | €4,190 | €12,793 | +€8,603 | +205% |
| Furniture and vehicles | 24 | €6,764 | €5,041 | -€1,724 | -25.5% |
| Current assets | 29/58 | €285,916 | €89,467 | -€196,449 | -68.7% |
| Amounts receivable within one year | 40/41 | €9,424 | €8,726 | -€699 | -7.4% |
| Other amounts receivable | 41 | €9,424 | €8,726 | -€699 | -7.4% |
| Current investments | 50/53 | €165,179 | €27,179 | -€138,000 | -83.5% |
| Cash at bank and in hand | 54/58 | €107,747 | €53,563 | -€54,184 | -50.3% |
| Deferred charges and accrued income | 490/1 | €3,567 | €0 | -€3,567 | -100% |
| Total equity and liabilities | 10/49 | €445,846 | €182,570 | -€263,276 | -59.1% |
| Equity | 10/15 | €61,214 | €53,076 | -€8,138 | -13.3% |
| Contributions | 10/11 | €20,405 | €20,405 | = | 0.0% |
| Reserves | 13 | €40,809 | €32,671 | -€8,138 | -19.9% |
| Distributable reserves | 133 | €40,809 | €32,671 | -€8,138 | -19.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €384,632 | €129,494 | -€255,138 | -66.3% |
| Amounts payable after more than one year | 17 | €116,931 | €43,358 | -€73,574 | -62.9% |
| Financial debts | 170/4 | €116,931 | €43,358 | -€73,574 | -62.9% |
| Amounts payable within one year | 42/48 | €267,701 | €86,136 | -€181,564 | -67.8% |
| Current portion of amounts payable after more than one year | 42 | €72,633 | €73,574 | +€941 | +1.3% |
| Trade debts | 44 | €5,166 | €5,555 | +€389 | +7.5% |
| Suppliers | 440/4 | €5,166 | €5,555 | +€389 | +7.5% |
| Taxes, remuneration and social security | 45 | €24,151 | €7,008 | -€17,144 | -71.0% |
| Taxes | 450/3 | €24,151 | €7,008 | -€17,144 | -71.0% |
| Other amounts payable | 47/48 | €165,750 | €0 | -€165,750 | -100% |
| Non-recurring operating income | 76A | €2,496 | €0 | -€2,496 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,898 | €77,991 | +€3,093 | +4.1% |
| Other operating charges | 640/8 | €1,658 | €1,066 | -€592 | -35.7% |
| Gross operating margin | 9900 | €219,888 | €307,608 | +€87,720 | +39.9% |
| Operating profit (loss) | 9901 | €143,332 | €228,551 | +€85,219 | +59.5% |
| Financial income | 75/76B | €9,660 | €3,632 | -€6,028 | -62.4% |
| Recurring financial income | 75 | €9,660 | €3,632 | -€6,028 | -62.4% |
| Financial charges | 65/66B | €7,387 | €5,163 | -€2,225 | -30.1% |
| Recurring financial charges | 65 | €7,387 | €5,163 | -€2,225 | -30.1% |
| Profit (loss) for the period before taxes | 9903 | €145,604 | €227,020 | +€81,416 | +55.9% |
| Income taxes | 67/77 | €33,543 | €55,158 | +€21,614 | +64.4% |
| Profit (loss) for the period | 9904 | €112,060 | €171,862 | +€59,802 | +53.4% |
| Profit (loss) for the period to be appropriated | 9905 | €112,060 | €171,862 | +€59,802 | +53.4% |
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 30 October 2026 via checked.be.