OPEN2: 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.
OPEN2
Largest movements
- Receivables within one year +€36,413
up €36,413 (+42.3%), from €86,077 to €122,490
of which Trade receivables: +€39,183
- Tangible fixed assets -€33,404
down €33,404 (-17.9%), from €186,447 to €153,043
of which Land and buildings: -€23,613
- Cash -€23,947
down €23,947 (-67.7%), from €35,366 to €11,419
mainly Debts after one year (-€46,258) and Receivables within one year (-€36,413)
- Intangible fixed assets +€10,518
up €10,518 (+66.6%), from €15,786 to €26,304
- Debts after one year -€46,258
down €46,258 (-30.0%), from €154,148 to €107,890
- Short-term financial debts +€34,351
up €34,351 (+4,866%), from €706 to €35,057
of which Other loans: +€35,000
- Reserves -€20,197
down €20,197 (-21.8%), from €92,589 to €72,392
of which Distributable reserves: -€20,197
- Other debts +€20,197
new in 2025: €20,197
- Trade debts -€7,666
down €7,666 (-25.5%), from €30,081 to €22,415
- Gross operating margin +€48,688
up €48,688 (+40.8%), from €119,226 to €167,914
- Staff costs +€11,238
up €11,238 (+13.8%), from €81,582 to €92,821
- Depreciation +€10,564
up €10,564 (+26.7%), from €39,500 to €50,064
- Other operating charges +€7,236
up €7,236 (+207%), from €3,489 to €10,725
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 | €327,414 | €318,356 | -€9,058 | -2.8% |
| Fixed assets | 21/28 | €202,548 | €179,662 | -€22,886 | -11.3% |
| Intangible fixed assets | 21 | €15,786 | €26,304 | +€10,518 | +66.6% |
| Tangible fixed assets | 22/27 | €186,447 | €153,043 | -€33,404 | -17.9% |
| Land and buildings | 22 | €152,194 | €128,581 | -€23,613 | -15.5% |
| Plant, machinery and equipment | 23 | €674 | €371 | -€303 | -45.0% |
| Furniture and vehicles | 24 | €33,580 | €24,092 | -€9,488 | -28.3% |
| Financial fixed assets | 28 | €315 | €315 | = | 0.0% |
| Current assets | 29/58 | €124,866 | €138,694 | +€13,828 | +11.1% |
| Stocks and contracts in progress | 3 | €125 | €95 | -€30 | -24.0% |
| Stocks | 30/36 | €125 | €95 | -€30 | -24.0% |
| Amounts receivable within one year | 40/41 | €86,077 | €122,490 | +€36,413 | +42.3% |
| Trade receivables | 40 | €62,313 | €101,496 | +€39,183 | +62.9% |
| Other amounts receivable | 41 | €23,764 | €20,995 | -€2,770 | -11.7% |
| Current investments | 50/53 | €547 | €1,403 | +€856 | +156% |
| Cash at bank and in hand | 54/58 | €35,366 | €11,419 | -€23,947 | -67.7% |
| Deferred charges and accrued income | 490/1 | €2,751 | €3,287 | +€536 | +19.5% |
| Total equity and liabilities | 10/49 | €327,414 | €318,356 | -€9,058 | -2.8% |
| Equity | 10/15 | €86,530 | €70,281 | -€16,249 | -18.8% |
| Contributions | 10/11 | €9,200 | €9,200 | = | 0.0% |
| Reserves | 13 | €92,589 | €72,392 | -€20,197 | -21.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €90,729 | €70,532 | -€20,197 | -22.3% |
| Profit (loss) carried forward | 14 | -€15,258 | -€11,311 | +€3,948 | +25.9% |
| Amounts payable | 17/49 | €240,884 | €248,075 | +€7,192 | +3.0% |
| Amounts payable after more than one year | 17 | €154,148 | €107,890 | -€46,258 | -30.0% |
| Financial debts | 170/4 | €154,148 | €107,890 | -€46,258 | -30.0% |
| Amounts payable within one year | 42/48 | €86,735 | €140,185 | +€53,450 | +61.6% |
| Current portion of amounts payable after more than one year | 42 | €51,060 | €51,999 | +€939 | +1.8% |
| Financial debts | 43 | €706 | €35,057 | +€34,351 | +4,866% |
| Credit institutions | 430/8 | €706 | €57 | -€649 | -91.9% |
| Other loans | 439 | - | €35,000 | +€35,000 | |
| Trade debts | 44 | €30,081 | €22,415 | -€7,666 | -25.5% |
| Suppliers | 440/4 | €30,081 | €22,415 | -€7,666 | -25.5% |
| Taxes, remuneration and social security | 45 | €4,889 | €10,518 | +€5,629 | +115% |
| Taxes | 450/3 | €720 | €6,224 | +€5,504 | +765% |
| Remuneration and social security | 454/9 | €4,169 | €4,294 | +€125 | +3.0% |
| Other amounts payable | 47/48 | - | €20,197 | +€20,197 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €81,582 | €92,821 | +€11,238 | +13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,500 | €50,064 | +€10,564 | +26.7% |
| Other operating charges | 640/8 | €3,489 | €10,725 | +€7,236 | +207% |
| Gross operating margin | 9900 | €119,226 | €167,914 | +€48,688 | +40.8% |
| Operating profit (loss) | 9901 | -€5,346 | €14,305 | +€19,650 | |
| Financial income | 75/76B | €29 | €4 | -€25 | -85.3% |
| Recurring financial income | 75 | €29 | €4 | -€25 | -85.3% |
| Financial charges | 65/66B | €9,785 | €10,199 | +€413 | +4.2% |
| Recurring financial charges | 65 | €9,785 | €10,199 | +€413 | +4.2% |
| Profit (loss) for the period before taxes | 9903 | -€15,101 | €4,110 | +€19,212 | |
| Income taxes | 67/77 | €157 | €163 | +€6 | +3.7% |
| Profit (loss) for the period | 9904 | -€15,258 | €3,948 | +€19,206 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,258 | €3,948 | +€19,206 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.