MARC VAN OPSTAL: what changed
MARC VAN OPSTAL
Largest movements
- Receivables within one year +€186,022
up €186,022 (+1,090%), from €17,067 to €203,089
of which Other amounts receivable: +€180,612
- Cash +€109,393
up €109,393 (+573%), from €19,083 to €128,477
mainly Short-term financial debts (+€125,000) and Debts after one year (+€106,603)
- Tangible fixed assets -€21,215
down €21,215 (-36.2%), from €58,678 to €37,463
of which Furniture and vehicles: -€20,992
- Receivables after one year -€6,652
down €6,652 (-37.6%), from €17,687 to €11,034
- Short-term financial debts +€125,000
new in 2025: €125,000
- Debts after one year +€106,603
up €106,603, from €0 to €106,603
- Tax, wage and social debts +€25,633
up €25,633 (+166%), from €15,437 to €41,070
of which Taxes: +€20,858
- Current portion of long-term debt +€21,728
up €21,728 (+326%), from €6,667 to €28,395
- Other debts -€14,699
down €14,699 (-19.8%), from €74,286 to €59,587
- Gross operating margin +€41,690
up €41,690 (+55.4%), from €75,291 to €116,981
- Taxes +€8,609
up €8,609 (+78.8%), from €10,923 to €19,533
- Financial income +€4,273
up €4,273 (+26,359%), from €16 to €4,289
- Financial charges +€3,674
up €3,674 (+1,866%), from €197 to €3,871
- Depreciation +€1,828
up €1,828 (+7.2%), from €25,350 to €27,178
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €115,612 | €382,355 | +€266,743 | +231% |
| Fixed assets | 21/28 | €59,038 | €37,463 | -€21,575 | -36.5% |
| Tangible fixed assets | 22/27 | €58,678 | €37,463 | -€21,215 | -36.2% |
| Furniture and vehicles | 24 | €57,248 | €36,256 | -€20,992 | -36.7% |
| Other tangible fixed assets | 26 | €1,430 | €1,208 | -€223 | -15.6% |
| Financial fixed assets | 28 | €360 | €0 | -€360 | -100% |
| Current assets | 29/58 | €56,574 | €344,892 | +€288,319 | +510% |
| Amounts receivable after more than one year | 29 | €17,687 | €11,034 | -€6,652 | -37.6% |
| Other amounts receivable | 291 | €17,687 | €11,034 | -€6,652 | -37.6% |
| Amounts receivable within one year | 40/41 | €17,067 | €203,089 | +€186,022 | +1,090% |
| Trade receivables | 40 | €17,067 | €22,477 | +€5,410 | +31.7% |
| Other amounts receivable | 41 | €0 | €180,612 | +€180,612 | |
| Cash at bank and in hand | 54/58 | €19,083 | €128,477 | +€109,393 | +573% |
| Deferred charges and accrued income | 490/1 | €2,736 | €2,293 | -€444 | -16.2% |
| Total equity and liabilities | 10/49 | €115,612 | €382,355 | +€266,743 | +231% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €97,012 | €363,755 | +€266,743 | +275% |
| Amounts payable after more than one year | 17 | €0 | €106,603 | +€106,603 | |
| Financial debts | 170/4 | €0 | €106,603 | +€106,603 | |
| Amounts payable within one year | 42/48 | €97,012 | €257,152 | +€160,140 | +165% |
| Current portion of amounts payable after more than one year | 42 | €6,667 | €28,395 | +€21,728 | +326% |
| Financial debts | 43 | - | €125,000 | +€125,000 | |
| Credit institutions | 430/8 | - | €125,000 | +€125,000 | |
| Trade debts | 44 | €623 | €3,100 | +€2,477 | +398% |
| Suppliers | 440/4 | €623 | €3,100 | +€2,477 | +398% |
| Taxes, remuneration and social security | 45 | €15,437 | €41,070 | +€25,633 | +166% |
| Taxes | 450/3 | €9,696 | €30,554 | +€20,858 | +215% |
| Remuneration and social security | 454/9 | €5,740 | €10,515 | +€4,775 | +83.2% |
| Other amounts payable | 47/48 | €74,286 | €59,587 | -€14,699 | -19.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,350 | €27,178 | +€1,828 | +7.2% |
| Other operating charges | 640/8 | €569 | €585 | +€16 | +2.9% |
| Gross operating margin | 9900 | €75,291 | €116,981 | +€41,690 | +55.4% |
| Operating profit (loss) | 9901 | €49,372 | €89,218 | +€39,845 | +80.7% |
| Financial income | 75/76B | €16 | €4,289 | +€4,273 | +26,359% |
| Recurring financial income | 75 | €16 | €4,289 | +€4,273 | +26,359% |
| Financial charges | 65/66B | €197 | €3,871 | +€3,674 | +1,866% |
| Recurring financial charges | 65 | €197 | €3,871 | +€3,674 | +1,866% |
| Profit (loss) for the period before taxes | 9903 | €49,192 | €89,636 | +€40,444 | +82.2% |
| Income taxes | 67/77 | €10,923 | €19,533 | +€8,609 | +78.8% |
| Profit (loss) for the period | 9904 | €38,268 | €70,103 | +€31,834 | +83.2% |
| Profit (loss) for the period to be appropriated | 9905 | €38,268 | €70,103 | +€31,834 | +83.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.