Operando: 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.
Operando
Largest movements
- Tangible fixed assets +€71,024
up €71,024 (+10.4%), from €682,032 to €753,056
- Receivables within one year +€21,571
up €21,571 (+64.5%), from €33,470 to €55,041
of which Trade receivables: +€32,320
- Other debts +€107,550
up €107,550 (+64.0%), from €168,041 to €275,591
- Debts after one year -€30,819
down €30,819 (-7.2%), from €430,258 to €399,439
- Trade debts +€17,294
up €17,294 (+257%), from €6,741 to €24,035
- Gross operating margin +€46,676
up €46,676 (+64.4%), from €72,502 to €119,178
- Taxes +€8,402
up €8,402 (+118%), from €7,135 to €15,538
- Depreciation +€7,690
up €7,690 (+46.5%), from €16,541 to €24,230
- Staff costs -€1,764
down €1,764 (-100%), from €1,764 to €0
- Financial charges +€1,415
up €1,415 (+5.4%), from €26,076 to €27,491
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 | €722,333 | €820,077 | +€97,744 | +13.5% |
| Fixed assets | 21/28 | €682,032 | €753,056 | +€71,024 | +10.4% |
| Tangible fixed assets | 22/27 | €682,032 | €753,056 | +€71,024 | +10.4% |
| Land and buildings | 22 | €682,032 | €753,056 | +€71,024 | +10.4% |
| Current assets | 29/58 | €40,301 | €67,021 | +€26,720 | +66.3% |
| Amounts receivable within one year | 40/41 | €33,470 | €55,041 | +€21,571 | +64.5% |
| Trade receivables | 40 | €4,240 | €36,560 | +€32,320 | +762% |
| Other amounts receivable | 41 | €29,230 | €18,481 | -€10,749 | -36.8% |
| Cash at bank and in hand | 54/58 | €5,574 | €3,106 | -€2,468 | -44.3% |
| Deferred charges and accrued income | 490/1 | €1,257 | €8,874 | +€7,616 | +606% |
| Total equity and liabilities | 10/49 | €722,333 | €820,077 | +€97,744 | +13.5% |
| Equity | 10/15 | €86,287 | €86,287 | = | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €81,287 | €81,287 | = | 0.0% |
| Distributable reserves | 133 | €81,287 | €81,287 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €636,046 | €733,790 | +€97,744 | +15.4% |
| Amounts payable after more than one year | 17 | €430,258 | €399,439 | -€30,819 | -7.2% |
| Financial debts | 170/4 | €430,258 | €399,439 | -€30,819 | -7.2% |
| Amounts payable within one year | 42/48 | €205,789 | €334,351 | +€128,562 | +62.5% |
| Current portion of amounts payable after more than one year | 42 | €29,963 | €30,819 | +€856 | +2.9% |
| Trade debts | 44 | €6,741 | €24,035 | +€17,294 | +257% |
| Suppliers | 440/4 | €6,741 | €24,035 | +€17,294 | +257% |
| Taxes, remuneration and social security | 45 | €1,043 | €3,906 | +€2,863 | +274% |
| Taxes | 450/3 | €1,043 | €3,906 | +€2,863 | +274% |
| Other amounts payable | 47/48 | €168,041 | €275,591 | +€107,550 | +64.0% |
| Remuneration, social security and pensions | 62 | €1,764 | €0 | -€1,764 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,541 | €24,230 | +€7,690 | +46.5% |
| Other operating charges | 640/8 | €1,665 | €3,055 | +€1,390 | +83.5% |
| Gross operating margin | 9900 | €72,502 | €119,178 | +€46,676 | +64.4% |
| Operating profit (loss) | 9901 | €52,532 | €91,892 | +€39,360 | +74.9% |
| Financial charges | 65/66B | €26,076 | €27,491 | +€1,415 | +5.4% |
| Recurring financial charges | 65 | €26,076 | €27,491 | +€1,415 | +5.4% |
| Profit (loss) for the period before taxes | 9903 | €26,456 | €64,401 | +€37,945 | +143% |
| Income taxes | 67/77 | €7,135 | €15,538 | +€8,402 | +118% |
| Profit (loss) for the period | 9904 | €19,321 | €48,864 | +€29,543 | +153% |
| Profit (loss) for the period to be appropriated | 9905 | €19,321 | €48,864 | +€29,543 | +153% |
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 24 October 2026 via checked.be.