OPAQO: 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.
OPAQO
Largest movements
- Receivables within one year +€17,534
up €17,534 (+59.1%), from €29,687 to €47,221
of which Trade receivables: +€24,742
- Cash -€12,915
down €12,915 (-19.7%), from €65,577 to €52,662
mainly Contributions, distributions and other (-€26,020) and Receivables within one year (-€17,534)
- Deferred charges and accrued income +€12,526
up €12,526 (+461.2%), from €2,716 to €15,242
- Current investments +€12,084
up €12,084 (+109.9%), from €11,000 to €23,084
- Tangible fixed assets -€7,391
down €7,391 (-100.0%), from €7,391 to €0
of which Other tangible fixed assets: -€7,104
- Reserves +€14,769
up €14,769 (+25.8%), from €57,334 to €72,103
of which Distributable reserves: +€14,769
- Trade debts -€14,588
down €14,588 (-74.9%), from €19,486 to €4,898
- Other debts +€13,425
up €13,425 (+95.0%), from €14,127 to €27,552
- Tax, wage and social debts +€8,352
up €8,352 (+47.4%), from €17,621 to €25,972
- Gross operating margin +€34,104
up €34,104 (+99.8%), from €34,169 to €68,273
- Taxes +€9,638
up €9,638 (+117.1%), from €8,230 to €17,868
- Write-downs -€3,000
new in 2025: -€3,000
- Other operating charges +€2,708
up €2,708 (+113.3%), from €2,390 to €5,098
- Financial income -€1,091
down €1,091 (-90.0%), from €1,212 to €121
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 | €116,371 | €138,209 | +€21,838 | +18.8% |
| Fixed assets | 21/28 | €7,391 | €0 | -€7,391 | -100.0% |
| Tangible fixed assets | 22/27 | €7,391 | €0 | -€7,391 | -100.0% |
| Furniture and vehicles | 24 | €287 | €0 | -€287 | -100.0% |
| Other tangible fixed assets | 26 | €7,104 | €0 | -€7,104 | -100.0% |
| Current assets | 29/58 | €108,980 | €138,209 | +€29,229 | +26.8% |
| Amounts receivable within one year | 40/41 | €29,687 | €47,221 | +€17,534 | +59.1% |
| Trade receivables | 40 | €21,750 | €46,493 | +€24,742 | +113.8% |
| Other amounts receivable | 41 | €7,937 | €729 | -€7,208 | -90.8% |
| Current investments | 50/53 | €11,000 | €23,084 | +€12,084 | +109.9% |
| Cash at bank and in hand | 54/58 | €65,577 | €52,662 | -€12,915 | -19.7% |
| Deferred charges and accrued income | 490/1 | €2,716 | €15,242 | +€12,526 | +461.2% |
| Total equity and liabilities | 10/49 | €116,371 | €138,209 | +€21,838 | +18.8% |
| Equity | 10/15 | €64,834 | €79,603 | +€14,769 | +22.8% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €57,334 | €72,103 | +€14,769 | +25.8% |
| Non-distributable reserves | 130/1 | €7,260 | €7,260 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,260 | €7,260 | = | 0.0% |
| Distributable reserves | 133 | €50,074 | €64,843 | +€14,769 | +29.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €51,537 | €58,606 | +€7,069 | +13.7% |
| Amounts payable within one year | 42/48 | €51,537 | €58,606 | +€7,069 | +13.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €304 | €184 | -€120 | -39.5% |
| Credit institutions | 430/8 | €304 | €184 | -€120 | -39.5% |
| Trade debts | 44 | €19,486 | €4,898 | -€14,588 | -74.9% |
| Suppliers | 440/4 | €19,486 | €4,898 | -€14,588 | -74.9% |
| Taxes, remuneration and social security | 45 | €17,621 | €25,972 | +€8,352 | +47.4% |
| Taxes | 450/3 | €17,621 | €25,972 | +€8,352 | +47.4% |
| Other amounts payable | 47/48 | €14,127 | €27,552 | +€13,425 | +95.0% |
| Non-recurring operating income | 76A | €0 | €8,655 | +€8,655 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,550 | €7,391 | -€159 | -2.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€3,000 | -€3,000 | |
| Other operating charges | 640/8 | €2,390 | €5,098 | +€2,708 | +113.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €34,169 | €68,273 | +€34,104 | +99.8% |
| Operating profit (loss) | 9901 | €24,229 | €58,784 | +€34,555 | +142.6% |
| Financial income | 75/76B | €1,212 | €121 | -€1,091 | -90.0% |
| Recurring financial income | 75 | €1,212 | €121 | -€1,091 | -90.0% |
| Financial charges | 65/66B | €307 | €248 | -€59 | -19.1% |
| Recurring financial charges | 65 | €307 | €248 | -€59 | -19.1% |
| Profit (loss) for the period before taxes | 9903 | €25,134 | €58,657 | +€33,523 | +133.4% |
| Income taxes | 67/77 | €8,230 | €17,868 | +€9,638 | +117.1% |
| Profit (loss) for the period | 9904 | €16,904 | €40,789 | +€23,885 | +141.3% |
| Profit (loss) for the period to be appropriated | 9905 | €16,904 | €40,789 | +€23,885 | +141.3% |
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.