OFEXIM: 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.
OFEXIM
Largest movements
- Cash -€496,429
down €496,429 (-70.7%), from €701,734 to €205,305
mainly Current investments (-€400,000) and Contributions, distributions and other (-€332,580)
- Current investments +€400,000
new in 2025: €400,000
- Receivables within one year -€40,590
down €40,590 (-57.2%), from €70,967 to €30,377
- Reserves -€143,180
down €143,180 (-19.9%), from €720,940 to €577,760
- Gross operating margin -€58,497
down €58,497 (-17.5%), from €333,685 to €275,187
- Taxes -€17,738
down €17,738 (-16.7%), from €106,203 to €88,466
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 | €773,318 | €635,977 | -€137,341 | -17.8% |
| Fixed assets | 21/28 | €617 | €295 | -€322 | -52.2% |
| Tangible fixed assets | 22/27 | €617 | €295 | -€322 | -52.2% |
| Furniture and vehicles | 24 | €617 | €295 | -€322 | -52.2% |
| Current assets | 29/58 | €772,701 | €635,682 | -€137,018 | -17.7% |
| Amounts receivable within one year | 40/41 | €70,967 | €30,377 | -€40,590 | -57.2% |
| Trade receivables | 40 | €70,967 | €30,377 | -€40,590 | -57.2% |
| Current investments | 50/53 | - | €400,000 | +€400,000 | |
| Cash at bank and in hand | 54/58 | €701,734 | €205,305 | -€496,429 | -70.7% |
| Total equity and liabilities | 10/49 | €773,318 | €635,977 | -€137,341 | -17.8% |
| Equity | 10/15 | €734,074 | €590,910 | -€143,164 | -19.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €720,940 | €577,760 | -€143,180 | -19.9% |
| Distributable reserves | 133 | €720,940 | €577,760 | -€143,180 | -19.9% |
| Profit (loss) carried forward | 14 | €734 | €750 | +€16 | +2.2% |
| Amounts payable | 17/49 | €39,244 | €45,067 | +€5,823 | +14.8% |
| Amounts payable within one year | 42/48 | €38,168 | €43,958 | +€5,790 | +15.2% |
| Trade debts | 44 | - | €100 | +€100 | |
| Suppliers | 440/4 | - | €100 | +€100 | |
| Taxes, remuneration and social security | 45 | €31,150 | €36,995 | +€5,845 | +18.8% |
| Taxes | 450/3 | €31,150 | €36,995 | +€5,845 | +18.8% |
| Other amounts payable | 47/48 | €7,019 | €6,864 | -€155 | -2.2% |
| Accrued charges and deferred income | 492/3 | €1,075 | €1,109 | +€34 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €627 | €322 | -€305 | -48.6% |
| Other operating charges | 640/8 | €2,534 | €1,509 | -€1,025 | -40.5% |
| Gross operating margin | 9900 | €333,685 | €275,187 | -€58,497 | -17.5% |
| Operating profit (loss) | 9901 | €330,524 | €273,356 | -€57,168 | -17.3% |
| Financial income | 75/76B | €2,983 | €4,832 | +€1,849 | +62.0% |
| Recurring financial income | 75 | €2,983 | €4,832 | +€1,849 | +62.0% |
| Financial charges | 65/66B | €169 | €307 | +€138 | +82.0% |
| Recurring financial charges | 65 | €169 | €307 | +€138 | +82.0% |
| Profit (loss) for the period before taxes | 9903 | €333,338 | €277,882 | -€55,457 | -16.6% |
| Income taxes | 67/77 | €106,203 | €88,466 | -€17,738 | -16.7% |
| Profit (loss) for the period | 9904 | €227,135 | €189,416 | -€37,719 | -16.6% |
| Profit (loss) for the period to be appropriated | 9905 | €227,135 | €189,416 | -€37,719 | -16.6% |
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 5 October 2026 via checked.be.