OPEN DEVELOPMENT: 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.
OPEN DEVELOPMENT
Largest movements
- Tangible fixed assets -€16,801
down €16,801 (-44.1%), from €38,105 to €21,304
- Current investments -€13,895
down €13,895 (-9.5%), from €146,925 to €133,031
- Cash +€10,721
up €10,721 (+34.9%), from €30,678 to €41,399
mainly Net result for the year (+€40,651) and Depreciation (+€18,999)
- Receivables within one year +€4,967
up €4,967 (+53.3%), from €9,322 to €14,289
of which Trade receivables: +€6,265
- Reserves -€15,426
down €15,426 (-8.3%), from €186,075 to €170,649
- Tax, wage and social debts +€14,766
up €14,766 (+169%), from €8,728 to €23,494
- Debts after one year -€8,457
no longer reported in 2025 (was €8,457)
- Current portion of long-term debt -€8,152
down €8,152 (-49.1%), from €16,608 to €8,457
- Gross operating margin +€19,998
up €19,998 (+45.3%), from €44,127 to €64,125
- Financial income +€13,888
up €13,888 (+186%), from €7,460 to €21,348
- Taxes +€11,527
up €11,527 (+93.2%), from €12,371 to €23,898
- Depreciation +€815
up €815 (+4.5%), from €18,184 to €18,999
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.
Derived cash bridge
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 | €227,285 | €212,064 | -€15,221 | -6.7% |
| Fixed assets | 21/28 | €38,105 | €21,304 | -€16,801 | -44.1% |
| Tangible fixed assets | 22/27 | €38,105 | €21,304 | -€16,801 | -44.1% |
| Furniture and vehicles | 24 | €38,105 | €21,304 | -€16,801 | -44.1% |
| Current assets | 29/58 | €189,180 | €190,760 | +€1,580 | +0.8% |
| Amounts receivable within one year | 40/41 | €9,322 | €14,289 | +€4,967 | +53.3% |
| Trade receivables | 40 | €8,024 | €14,289 | +€6,265 | +78.1% |
| Other amounts receivable | 41 | €1,298 | - | -€1,298 | |
| Current investments | 50/53 | €146,925 | €133,031 | -€13,895 | -9.5% |
| Cash at bank and in hand | 54/58 | €30,678 | €41,399 | +€10,721 | +34.9% |
| Deferred charges and accrued income | 490/1 | €2,254 | €2,041 | -€213 | -9.4% |
| Total equity and liabilities | 10/49 | €227,285 | €212,064 | -€15,221 | -6.7% |
| Equity | 10/15 | €192,275 | €176,849 | -€15,426 | -8.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €186,075 | €170,649 | -€15,426 | -8.3% |
| Distributable reserves | 133 | €186,075 | €170,649 | -€15,426 | -8.3% |
| Amounts payable | 17/49 | €35,009 | €35,215 | +€205 | +0.6% |
| Amounts payable after more than one year | 17 | €8,457 | - | -€8,457 | |
| Financial debts | 170/4 | €8,457 | - | -€8,457 | |
| Amounts payable within one year | 42/48 | €26,213 | €34,284 | +€8,070 | +30.8% |
| Current portion of amounts payable after more than one year | 42 | €16,608 | €8,457 | -€8,152 | -49.1% |
| Trade debts | 44 | €877 | €1,569 | +€693 | +79.0% |
| Suppliers | 440/4 | €877 | €1,569 | +€693 | +79.0% |
| Taxes, remuneration and social security | 45 | €8,728 | €23,494 | +€14,766 | +169% |
| Taxes | 450/3 | €8,728 | €23,494 | +€14,766 | +169% |
| Other amounts payable | 47/48 | - | €763 | +€763 | |
| Accrued charges and deferred income | 492/3 | €339 | €931 | +€592 | +174% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,184 | €18,999 | +€815 | +4.5% |
| Other operating charges | 640/8 | €1,212 | €1,316 | +€103 | +8.5% |
| Non-recurring operating charges | 66A | €157 | - | -€157 | |
| Gross operating margin | 9900 | €44,127 | €64,125 | +€19,998 | +45.3% |
| Operating profit (loss) | 9901 | €24,574 | €43,810 | +€19,236 | +78.3% |
| Financial income | 75/76B | €7,460 | €21,348 | +€13,888 | +186% |
| Recurring financial income | 75 | €7,460 | €21,348 | +€13,888 | +186% |
| Financial charges | 65/66B | €841 | €609 | -€232 | -27.6% |
| Recurring financial charges | 65 | €841 | €609 | -€232 | -27.6% |
| Profit (loss) for the period before taxes | 9903 | €31,193 | €64,549 | +€33,356 | +107% |
| Income taxes | 67/77 | €12,371 | €23,898 | +€11,527 | +93.2% |
| Profit (loss) for the period | 9904 | €18,822 | €40,651 | +€21,829 | +116% |
| Profit (loss) for the period to be appropriated | 9905 | €18,822 | €40,651 | +€21,829 | +116% |
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 21 October 2026 via checked.be.