OPCODES: 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.
OPCODES
Largest movements
- Cash +€85,098
up €85,098 (+65.5%), from €129,940 to €215,039
mainly Net result for the year (+€120,738) and Tax, wage and social debts (+€12,377)
- Current investments +€46,429
up €46,429 (+25.8%), from €179,927 to €226,357
- Reserves +€119,905
up €119,905 (+36.8%), from €325,399 to €445,304
- Tax, wage and social debts +€12,377
up €12,377 (+107.4%), from €11,524 to €23,901
of which Taxes: +€9,815
- Financial income -€31,630
down €31,630 (-90.3%), from €35,014 to €3,384
- Gross operating margin +€16,099
up €16,099 (+10.4%), from €154,054 to €170,153
- Taxes +€2,150
up €2,150 (+4.5%), from €48,072 to €50,223
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 | €338,766 | €471,659 | +€132,893 | +39.2% |
| Fixed assets | 21/28 | €4,127 | €2,488 | -€1,639 | -39.7% |
| Tangible fixed assets | 22/27 | €4,127 | €2,488 | -€1,639 | -39.7% |
| Plant, machinery and equipment | 23 | €2,001 | €970 | -€1,032 | -51.5% |
| Other tangible fixed assets | 26 | €2,125 | €1,518 | -€607 | -28.6% |
| Current assets | 29/58 | €334,639 | €469,171 | +€134,532 | +40.2% |
| Amounts receivable within one year | 40/41 | €23,199 | €25,955 | +€2,756 | +11.9% |
| Trade receivables | 40 | €23,199 | €25,955 | +€2,756 | +11.9% |
| Current investments | 50/53 | €179,927 | €226,357 | +€46,429 | +25.8% |
| Cash at bank and in hand | 54/58 | €129,940 | €215,039 | +€85,098 | +65.5% |
| Deferred charges and accrued income | 490/1 | €1,573 | €1,822 | +€248 | +15.8% |
| Total equity and liabilities | 10/49 | €338,766 | €471,659 | +€132,893 | +39.2% |
| Equity | 10/15 | €325,399 | €445,304 | +€119,905 | +36.8% |
| Reserves | 13 | €325,399 | €445,304 | +€119,905 | +36.8% |
| Distributable reserves | 133 | €325,399 | €445,304 | +€119,905 | +36.8% |
| Amounts payable | 17/49 | €13,367 | €26,355 | +€12,988 | +97.2% |
| Amounts payable within one year | 42/48 | €13,367 | €26,355 | +€12,988 | +97.2% |
| Trade debts | 44 | €219 | €1,421 | +€1,202 | +549.3% |
| Suppliers | 440/4 | €219 | €1,421 | +€1,202 | +549.3% |
| Taxes, remuneration and social security | 45 | €11,524 | €23,901 | +€12,377 | +107.4% |
| Taxes | 450/3 | €7,217 | €17,032 | +€9,815 | +136.0% |
| Remuneration and social security | 454/9 | €4,306 | €6,869 | +€2,563 | +59.5% |
| Other amounts payable | 47/48 | €1,624 | €1,033 | -€591 | -36.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,440 | €1,639 | -€801 | -32.8% |
| Other operating charges | 640/8 | €804 | €827 | +€23 | +2.9% |
| Gross operating margin | 9900 | €154,054 | €170,153 | +€16,099 | +10.4% |
| Operating profit (loss) | 9901 | €150,811 | €167,687 | +€16,876 | +11.2% |
| Financial income | 75/76B | €35,014 | €3,384 | -€31,630 | -90.3% |
| Recurring financial income | 75 | €35,014 | €3,384 | -€31,630 | -90.3% |
| Financial charges | 65/66B | €292 | €110 | -€182 | -62.3% |
| Recurring financial charges | 65 | €292 | €110 | -€182 | -62.3% |
| Profit (loss) for the period before taxes | 9903 | €185,533 | €170,961 | -€14,572 | -7.9% |
| Income taxes | 67/77 | €48,072 | €50,223 | +€2,150 | +4.5% |
| Profit (loss) for the period | 9904 | €137,461 | €120,738 | -€16,723 | -12.2% |
| Profit (loss) for the period to be appropriated | 9905 | €137,461 | €120,738 | -€16,723 | -12.2% |
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 11 October 2026 via checked.be.