Hans 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.
Hans Van Opstal
Largest movements
- Tangible fixed assets +€96,414
up €96,414 (+393%), from €24,562 to €120,976
of which Furniture and vehicles: +€73,388
- Cash -€37,328
down €37,328 (-74.2%), from €50,312 to €12,984
- Receivables within one year +€27,723
up €27,723 (+147%), from €18,919 to €46,642
of which Trade receivables: +€18,498
- Deferred charges and accrued income -€13,500
no longer reported in 2025 (was €13,500)
- Debts after one year +€31,513
new in 2025: €31,513
- Reserves +€26,291
up €26,291 (+50.5%), from €52,049 to €78,341
of which Distributable reserves: +€26,291
- Trade debts +€13,205
up €13,205 (+67.2%), from €19,664 to €32,869
- Current portion of long-term debt +€11,741
new in 2025: €11,741
- Tax, wage and social debts -€9,441
down €9,441 (-41.1%), from €22,969 to €13,527
of which Taxes: -€7,602
- Depreciation +€23,467
up €23,467 (+8,078%), from €291 to €23,757
- Gross operating margin +€11,987
up €11,987 (+46.8%), from €25,620 to €37,608
- Taxes -€3,830
down €3,830 (-44.5%), from €8,610 to €4,780
- Financial charges +€2,121
up €2,121 (+800%), from €265 to €2,386
- Other operating charges -€408
down €408 (-24.8%), from €1,644 to €1,235
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €107,292 | €180,602 | +€73,309 | +68.3% |
| Fixed assets | 21/28 | €24,562 | €120,976 | +€96,414 | +393% |
| Tangible fixed assets | 22/27 | €24,562 | €120,976 | +€96,414 | +393% |
| Land and buildings | 22 | €19,762 | €41,278 | +€21,517 | +109% |
| Plant, machinery and equipment | 23 | - | €1,509 | +€1,509 | |
| Furniture and vehicles | 24 | €4,800 | €78,188 | +€73,388 | +1,529% |
| Current assets | 29/58 | €82,731 | €59,626 | -€23,104 | -27.9% |
| Amounts receivable within one year | 40/41 | €18,919 | €46,642 | +€27,723 | +147% |
| Trade receivables | 40 | €11,888 | €30,386 | +€18,498 | +156% |
| Other amounts receivable | 41 | €7,031 | €16,256 | +€9,225 | +131% |
| Cash at bank and in hand | 54/58 | €50,312 | €12,984 | -€37,328 | -74.2% |
| Deferred charges and accrued income | 490/1 | €13,500 | - | -€13,500 | |
| Total equity and liabilities | 10/49 | €107,292 | €180,602 | +€73,309 | +68.3% |
| Equity | 10/15 | €64,660 | €90,951 | +€26,291 | +40.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €52,049 | €78,341 | +€26,291 | +50.5% |
| Non-distributable reserves | 130/1 | €1,240 | €1,240 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,240 | €1,240 | = | 0.0% |
| Tax-exempt reserves | 132 | €198 | €198 | = | 0.0% |
| Distributable reserves | 133 | €50,611 | €76,903 | +€26,291 | +51.9% |
| Profit (loss) carried forward | 14 | €210 | €210 | = | 0.0% |
| Amounts payable | 17/49 | €42,633 | €89,651 | +€47,018 | +110% |
| Amounts payable after more than one year | 17 | - | €31,513 | +€31,513 | |
| Financial debts | 170/4 | - | €31,513 | +€31,513 | |
| Amounts payable within one year | 42/48 | €42,633 | €58,138 | +€15,505 | +36.4% |
| Current portion of amounts payable after more than one year | 42 | - | €11,741 | +€11,741 | |
| Trade debts | 44 | €19,664 | €32,869 | +€13,205 | +67.2% |
| Suppliers | 440/4 | €19,664 | €32,869 | +€13,205 | +67.2% |
| Taxes, remuneration and social security | 45 | €22,969 | €13,527 | -€9,441 | -41.1% |
| Taxes | 450/3 | €21,129 | €13,527 | -€7,602 | -36.0% |
| Remuneration and social security | 454/9 | €1,839 | - | -€1,839 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €291 | €23,757 | +€23,467 | +8,078% |
| Other operating charges | 640/8 | €1,644 | €1,235 | -€408 | -24.8% |
| Gross operating margin | 9900 | €25,620 | €37,608 | +€11,987 | +46.8% |
| Operating profit (loss) | 9901 | €23,686 | €12,615 | -€11,071 | -46.7% |
| Financial income | 75/76B | €1,063 | €797 | -€266 | -25.0% |
| Recurring financial income | 75 | €1,063 | €797 | -€266 | -25.0% |
| Financial charges | 65/66B | €265 | €2,386 | +€2,121 | +800% |
| Recurring financial charges | 65 | €265 | €2,386 | +€2,121 | +800% |
| Profit (loss) for the period before taxes | 9903 | €24,484 | €11,026 | -€13,458 | -55.0% |
| Income taxes | 67/77 | €8,610 | €4,780 | -€3,830 | -44.5% |
| Profit (loss) for the period | 9904 | €15,874 | €6,246 | -€9,628 | -60.7% |
| Profit (loss) for the period to be appropriated | 9905 | €15,874 | €6,246 | -€9,628 | -60.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.