OFD VISION: 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.
OFD VISION
Largest movements
- Tangible fixed assets +€102,573
up €102,573 (+65.4%), from €156,791 to €259,364
of which Other tangible fixed assets: +€116,378
- Cash -€24,264
down €24,264 (-9.5%), from €254,149 to €229,885
mainly Investment in fixed assets (net) (-€133,304) and Stocks and contracts (-€15,167)
- Receivables within one year -€23,054
down €23,054 (-42.8%), from €53,868 to €30,813
- Stocks and contracts +€15,167
up €15,167 (+33.5%), from €45,339 to €60,506
- Reserves +€78,131
up €78,131 (+23.1%), from €337,942 to €416,073
of which Distributable reserves: +€79,991
- Other debts +€13,553
up €13,553 (+15.4%), from €87,730 to €101,283
- Trade debts -€11,348
down €11,348 (-41.4%), from €27,399 to €16,050
- Gross operating margin -€18,166
down €18,166 (-8.6%), from €211,852 to €193,686
- Financial charges +€13,432
up €13,432 (+5,173%), from €260 to €13,692
- Depreciation +€11,642
up €11,642 (+58.1%), from €20,045 to €31,687
- Taxes -€10,932
down €10,932 (-27.7%), from €39,420 to €28,488
- Staff costs -€10,486
down €10,486 (-19.2%), from €54,692 to €44,206
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 | €512,454 | €587,557 | +€75,103 | +14.7% |
| Fixed assets | 21/28 | €158,799 | €260,416 | +€101,617 | +64.0% |
| Intangible fixed assets | 21 | €1,893 | €937 | -€956 | -50.5% |
| Tangible fixed assets | 22/27 | €156,791 | €259,364 | +€102,573 | +65.4% |
| Land and buildings | 22 | €117,398 | €114,165 | -€3,233 | -2.8% |
| Furniture and vehicles | 24 | €11,461 | €889 | -€10,572 | -92.2% |
| Other tangible fixed assets | 26 | €27,932 | €144,310 | +€116,378 | +417% |
| Financial fixed assets | 28 | €115 | €115 | = | 0.0% |
| Current assets | 29/58 | €353,655 | €327,141 | -€26,514 | -7.5% |
| Stocks and contracts in progress | 3 | €45,339 | €60,506 | +€15,167 | +33.5% |
| Stocks | 30/36 | €45,339 | €60,506 | +€15,167 | +33.5% |
| Amounts receivable within one year | 40/41 | €53,868 | €30,813 | -€23,054 | -42.8% |
| Trade receivables | 40 | €53,868 | €30,813 | -€23,054 | -42.8% |
| Cash at bank and in hand | 54/58 | €254,149 | €229,885 | -€24,264 | -9.5% |
| Deferred charges and accrued income | 490/1 | €299 | €5,936 | +€5,637 | +1,884% |
| Total equity and liabilities | 10/49 | €512,454 | €587,557 | +€75,103 | +14.7% |
| Equity | 10/15 | €344,095 | €422,226 | +€78,131 | +22.7% |
| Contributions | 10/11 | €6,153 | €6,153 | = | 0.0% |
| Reserves | 13 | €337,942 | €416,073 | +€78,131 | +23.1% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €336,082 | €416,073 | +€79,991 | +23.8% |
| Amounts payable | 17/49 | €168,360 | €165,331 | -€3,028 | -1.8% |
| Amounts payable within one year | 42/48 | €168,360 | €165,331 | -€3,028 | -1.8% |
| Trade debts | 44 | €27,399 | €16,050 | -€11,348 | -41.4% |
| Suppliers | 440/4 | €27,399 | €16,050 | -€11,348 | -41.4% |
| Taxes, remuneration and social security | 45 | €53,231 | €47,998 | -€5,233 | -9.8% |
| Taxes | 450/3 | €39,955 | €35,579 | -€4,376 | -11.0% |
| Remuneration and social security | 454/9 | €13,276 | €12,419 | -€857 | -6.5% |
| Other amounts payable | 47/48 | €87,730 | €101,283 | +€13,553 | +15.4% |
| Remuneration, social security and pensions | 62 | €54,692 | €44,206 | -€10,486 | -19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,045 | €31,687 | +€11,642 | +58.1% |
| Other operating charges | 640/8 | €5,980 | €2,004 | -€3,976 | -66.5% |
| Gross operating margin | 9900 | €211,852 | €193,686 | -€18,166 | -8.6% |
| Operating profit (loss) | 9901 | €131,136 | €115,790 | -€15,346 | -11.7% |
| Financial income | 75/76B | €8,688 | €4,521 | -€4,166 | -48.0% |
| Recurring financial income | 75 | €8,688 | €4,521 | -€4,166 | -48.0% |
| Financial charges | 65/66B | €260 | €13,692 | +€13,432 | +5,173% |
| Recurring financial charges | 65 | €260 | €13,692 | +€13,432 | +5,173% |
| Profit (loss) for the period before taxes | 9903 | €139,564 | €106,619 | -€32,944 | -23.6% |
| Income taxes | 67/77 | €39,420 | €28,488 | -€10,932 | -27.7% |
| Profit (loss) for the period | 9904 | €100,143 | €78,131 | -€22,012 | -22.0% |
| Profit (loss) for the period to be appropriated | 9905 | €100,143 | €78,131 | -€22,012 | -22.0% |
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.