N & M OPTIC: what changed
Two fiscal 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.
N & M OPTIC
Largest movements
- Tangible fixed assets +€37,502
up €37,502 (+46.1%), from €81,332 to €118,833
of which Furniture and vehicles: +€50,270
- Cash -€19,438
down €19,438 (-7.6%), from €256,699 to €237,262
mainly Contributions, distributions and other (-€211,209) and Investment in fixed assets (net) (-€67,180)
- Reserves -€61,209
down €61,209 (-99.7%), from €61,387 to €178
of which Distributable reserves: -€61,209
- Other debts +€55,622
up €55,622 (+35.1%), from €158,657 to €214,279
- Tax, wage and social debts -€28,765
down €28,765 (-55.2%), from €52,074 to €23,309
of which Taxes: -€29,867
- Profit (loss) carried forward +€26,463
up €26,463 (+36.7%), from €72,080 to €98,543
- Debts after one year +€26,113
new in 2025: €26,113
- Gross operating margin +€38,370
up €38,370 (+13.6%), from €281,227 to €319,597
- Taxes +€10,401
up €10,401 (+23.9%), from €43,560 to €53,961
- Staff costs -€6,819
down €6,819 (-10.8%), from €62,956 to €56,138
- Depreciation +€5,856
up €5,856 (+22.8%), from €25,655 to €31,511
- Other operating charges +€3,679
up €3,679 (+366.0%), from €1,005 to €4,685
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.
Cash bridge derived
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 | €392,508 | €410,739 | +€18,231 | +4.6% |
| Fixed assets | 21/28 | €89,729 | €125,398 | +€35,669 | +39.8% |
| Intangible fixed assets | 21 | €2,660 | €826 | -€1,833 | -68.9% |
| Tangible fixed assets | 22/27 | €81,332 | €118,833 | +€37,502 | +46.1% |
| Plant, machinery and equipment | 23 | €36,463 | €25,525 | -€10,938 | -30.0% |
| Furniture and vehicles | 24 | €28,698 | €78,968 | +€50,270 | +175.2% |
| Other tangible fixed assets | 26 | €16,170 | €14,340 | -€1,830 | -11.3% |
| Financial fixed assets | 28 | €5,738 | €5,738 | = | 0.0% |
| Current assets | 29/58 | €302,779 | €285,342 | -€17,437 | -5.8% |
| Stocks and contracts in progress | 3 | €37,938 | €38,222 | +€284 | +0.7% |
| Stocks | 30/36 | €37,938 | €38,222 | +€284 | +0.7% |
| Amounts receivable within one year | 40/41 | €2,567 | €5,161 | +€2,593 | +101.0% |
| Trade receivables | 40 | €2,376 | €5,161 | +€2,784 | +117.2% |
| Other amounts receivable | 41 | €191 | €0 | -€191 | -100.0% |
| Cash at bank and in hand | 54/58 | €256,699 | €237,262 | -€19,438 | -7.6% |
| Deferred charges and accrued income | 490/1 | €5,574 | €4,697 | -€877 | -15.7% |
| Total equity and liabilities | 10/49 | €392,508 | €410,739 | +€18,231 | +4.6% |
| Equity | 10/15 | €154,092 | €119,346 | -€34,746 | -22.5% |
| Contributions | 10/11 | €20,625 | €20,625 | = | 0.0% |
| Reserves | 13 | €61,387 | €178 | -€61,209 | -99.7% |
| Tax-exempt reserves | 132 | €178 | €178 | = | 0.0% |
| Distributable reserves | 133 | €61,209 | €0 | -€61,209 | -100.0% |
| Profit (loss) carried forward | 14 | €72,080 | €98,543 | +€26,463 | +36.7% |
| Amounts payable | 17/49 | €238,416 | €291,393 | +€52,977 | +22.2% |
| Amounts payable after more than one year | 17 | - | €26,113 | +€26,113 | |
| Financial debts | 170/4 | - | €26,113 | +€26,113 | |
| Amounts payable within one year | 42/48 | €237,235 | €263,781 | +€26,546 | +11.2% |
| Current portion of amounts payable after more than one year | 42 | - | €7,681 | +€7,681 | |
| Trade debts | 44 | €26,505 | €18,512 | -€7,993 | -30.2% |
| Suppliers | 440/4 | €26,505 | €18,512 | -€7,993 | -30.2% |
| Taxes, remuneration and social security | 45 | €52,074 | €23,309 | -€28,765 | -55.2% |
| Taxes | 450/3 | €38,553 | €8,686 | -€29,867 | -77.5% |
| Remuneration and social security | 454/9 | €13,521 | €14,624 | +€1,103 | +8.2% |
| Other amounts payable | 47/48 | €158,657 | €214,279 | +€55,622 | +35.1% |
| Accrued charges and deferred income | 492/3 | €1,180 | €1,498 | +€318 | +26.9% |
| Non-recurring operating income | 76A | €5,746 | €0 | -€5,746 | -100.0% |
| Remuneration, social security and pensions | 62 | €62,956 | €56,138 | -€6,819 | -10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,655 | €31,511 | +€5,856 | +22.8% |
| Other operating charges | 640/8 | €1,005 | €4,685 | +€3,679 | +366.0% |
| Non-recurring operating charges | 66A | €1,251 | €39 | -€1,212 | -96.9% |
| Gross operating margin | 9900 | €281,227 | €319,597 | +€38,370 | +13.6% |
| Operating profit (loss) | 9901 | €190,359 | €227,225 | +€36,865 | +19.4% |
| Financial income | 75/76B | €5,514 | €4,890 | -€625 | -11.3% |
| Recurring financial income | 75 | €5,514 | €4,890 | -€625 | -11.3% |
| Financial charges | 65/66B | €379 | €1,690 | +€1,311 | +345.7% |
| Recurring financial charges | 65 | €379 | €1,690 | +€1,311 | +345.7% |
| Profit (loss) for the period before taxes | 9903 | €195,494 | €230,424 | +€34,930 | +17.9% |
| Income taxes | 67/77 | €43,560 | €53,961 | +€10,401 | +23.9% |
| Profit (loss) for the period | 9904 | €151,934 | €176,463 | +€24,529 | +16.1% |
| Profit (loss) for the period to be appropriated | 9905 | €151,934 | €176,463 | +€24,529 | +16.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.