OPAL: 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.
OPAL
Largest movements
- Cash +€61,895
up €61,895 (+132.7%), from €46,658 to €108,553
mainly Net result for the year (+€77,799) and Depreciation (+€13,269)
- Tangible fixed assets -€13,269
down €13,269 (-27.1%), from €48,970 to €35,701
- Receivables within one year +€5,050
new in 2025: €5,050
- Reserves +€77,799
up €77,799 (+214.6%), from €36,246 to €114,045
- Trade debts -€32,430
down €32,430 (-97.0%), from €33,436 to €1,006
- Tax, wage and social debts +€4,340
up €4,340 (+25.7%), from €16,909 to €21,249
of which Taxes: +€6,277
- Other debts +€3,966
up €3,966 (+98.2%), from €4,037 to €8,003
- Gross operating margin +€60,375
up €60,375 (+112.2%), from €53,819 to €114,194
- Depreciation +€9,162
up €9,162 (+223.1%), from €4,107 to €13,269
- Taxes +€8,577
up €8,577 (+67.9%), from €12,626 to €21,203
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 | €95,628 | €149,303 | +€53,675 | +56.1% |
| Fixed assets | 21/28 | €48,970 | €35,701 | -€13,269 | -27.1% |
| Tangible fixed assets | 22/27 | €48,970 | €35,701 | -€13,269 | -27.1% |
| Furniture and vehicles | 24 | €48,970 | €35,701 | -€13,269 | -27.1% |
| Current assets | 29/58 | €46,658 | €113,602 | +€66,944 | +143.5% |
| Amounts receivable within one year | 40/41 | - | €5,050 | +€5,050 | |
| Trade receivables | 40 | - | €5,050 | +€5,050 | |
| Cash at bank and in hand | 54/58 | €46,658 | €108,553 | +€61,895 | +132.7% |
| Total equity and liabilities | 10/49 | €95,628 | €149,303 | +€53,675 | +56.1% |
| Equity | 10/15 | €41,246 | €119,045 | +€77,799 | +188.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €36,246 | €114,045 | +€77,799 | +214.6% |
| Distributable reserves | 133 | €36,246 | €114,045 | +€77,799 | +214.6% |
| Amounts payable | 17/49 | €54,382 | €30,258 | -€24,124 | -44.4% |
| Amounts payable within one year | 42/48 | €54,382 | €30,258 | -€24,124 | -44.4% |
| Trade debts | 44 | €33,436 | €1,006 | -€32,430 | -97.0% |
| Suppliers | 440/4 | €33,436 | €1,006 | -€32,430 | -97.0% |
| Taxes, remuneration and social security | 45 | €16,909 | €21,249 | +€4,340 | +25.7% |
| Taxes | 450/3 | €14,926 | €21,203 | +€6,277 | +42.1% |
| Remuneration and social security | 454/9 | €1,983 | €46 | -€1,937 | -97.7% |
| Other amounts payable | 47/48 | €4,037 | €8,003 | +€3,966 | +98.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,107 | €13,269 | +€9,162 | +223.1% |
| Other operating charges | 640/8 | €839 | €1,851 | +€1,012 | +120.7% |
| Gross operating margin | 9900 | €53,819 | €114,194 | +€60,375 | +112.2% |
| Operating profit (loss) | 9901 | €48,873 | €99,073 | +€50,200 | +102.7% |
| Financial charges | 65/66B | - | €71 | +€71 | |
| Recurring financial charges | 65 | - | €71 | +€71 | |
| Profit (loss) for the period before taxes | 9903 | €48,873 | €99,002 | +€50,129 | +102.6% |
| Income taxes | 67/77 | €12,626 | €21,203 | +€8,577 | +67.9% |
| Profit (loss) for the period | 9904 | €36,246 | €77,799 | +€41,552 | +114.6% |
| Profit (loss) for the period to be appropriated | 9905 | €36,246 | €77,799 | +€41,552 | +114.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.