OPEN: 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.
OPEN
Largest movements
- Tangible fixed assets -€8,657
down €8,657 (-5.4%), from €159,383 to €150,726
of which Other tangible fixed assets: -€5,708
- Receivables within one year -€4,121
down €4,121 (-29.5%), from €13,993 to €9,872
of which Trade receivables: -€2,268
- Profit (loss) carried forward -€15,540
down €15,540 (-10.0%), from -€155,883 to -€171,423
- Debts after one year -€10,415
down €10,415 (-3.9%), from €268,662 to €258,247
- Accrued charges and deferred income +€7,819
new in 2025: €7,819
- Other debts +€7,359
up €7,359 (+23.8%), from €30,968 to €38,327
- Current portion of long-term debt -€1,874
down €1,874 (-15.3%), from €12,289 to €10,415
- Gross operating margin -€343,184
down €343,184, from €342,111 to -€1,072
- Other operating charges -€290,880
down €290,880 (-99.5%), from €292,293 to €1,412
- Financial charges -€3,715
down €3,715 (-61.1%), from €6,084 to €2,369
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 | €181,255 | €167,050 | -€14,205 | -7.8% |
| Fixed assets | 21/28 | €164,666 | €155,809 | -€8,857 | -5.4% |
| Tangible fixed assets | 22/27 | €159,383 | €150,726 | -€8,657 | -5.4% |
| Land and buildings | 22 | €97,489 | €94,540 | -€2,949 | -3.0% |
| Other tangible fixed assets | 26 | €61,894 | €56,186 | -€5,708 | -9.2% |
| Financial fixed assets | 28 | €5,283 | €5,083 | -€200 | -3.8% |
| Current assets | 29/58 | €16,589 | €11,241 | -€5,348 | -32.2% |
| Stocks and contracts in progress | 3 | €702 | - | -€702 | |
| Stocks | 30/36 | €702 | - | -€702 | |
| Amounts receivable within one year | 40/41 | €13,993 | €9,872 | -€4,121 | -29.5% |
| Trade receivables | 40 | €12,140 | €9,872 | -€2,268 | -18.7% |
| Other amounts receivable | 41 | €1,853 | - | -€1,853 | |
| Cash at bank and in hand | 54/58 | €912 | €1,370 | +€458 | +50.2% |
| Deferred charges and accrued income | 490/1 | €982 | - | -€982 | |
| Total equity and liabilities | 10/49 | €181,255 | €167,050 | -€14,205 | -7.8% |
| Equity | 10/15 | -€137,283 | -€152,823 | -€15,540 | -11.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€155,883 | -€171,423 | -€15,540 | -10.0% |
| Amounts payable | 17/49 | €318,539 | €319,873 | +€1,335 | +0.4% |
| Amounts payable after more than one year | 17 | €268,662 | €258,247 | -€10,415 | -3.9% |
| Financial debts | 170/4 | €268,662 | €258,247 | -€10,415 | -3.9% |
| Amounts payable within one year | 42/48 | €49,877 | €53,807 | +€3,931 | +7.9% |
| Current portion of amounts payable after more than one year | 42 | €12,289 | €10,415 | -€1,874 | -15.3% |
| Trade debts | 44 | €4,329 | €4,028 | -€300 | -6.9% |
| Suppliers | 440/4 | €4,329 | €3,653 | -€675 | -15.6% |
| Bills of exchange payable | 441 | - | €375 | +€375 | |
| Taxes, remuneration and social security | 45 | €2,291 | €1,037 | -€1,254 | -54.7% |
| Taxes | 450/3 | €2,291 | €1,037 | -€1,254 | -54.7% |
| Other amounts payable | 47/48 | €30,968 | €38,327 | +€7,359 | +23.8% |
| Accrued charges and deferred income | 492/3 | - | €7,819 | +€7,819 | |
| Remuneration, social security and pensions | 62 | €246 | - | -€246 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,381 | €8,657 | -€1,724 | -16.6% |
| Other operating charges | 640/8 | €292,293 | €1,412 | -€290,880 | -99.5% |
| Non-recurring operating charges | 66A | - | €1,853 | +€1,853 | |
| Gross operating margin | 9900 | €342,111 | -€1,072 | -€343,184 | |
| Operating profit (loss) | 9901 | €39,191 | -€12,995 | -€52,186 | |
| Financial income | 75/76B | €26 | €1 | -€25 | -96.3% |
| Recurring financial income | 75 | €26 | €1 | -€25 | -96.3% |
| Financial charges | 65/66B | €6,084 | €2,369 | -€3,715 | -61.1% |
| Recurring financial charges | 65 | €6,084 | €2,369 | -€3,715 | -61.1% |
| Profit (loss) for the period before taxes | 9903 | €33,133 | -€15,363 | -€48,496 | |
| Income taxes | 67/77 | €157 | €177 | +€20 | +12.5% |
| Profit (loss) for the period | 9904 | €32,976 | -€15,540 | -€48,516 | |
| Profit (loss) for the period to be appropriated | 9905 | €32,976 | -€15,540 | -€48,516 |
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 7 October 2026 via checked.be.