Opexer: 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.
Opexer
Largest movements
- Receivables within one year -€22,827
down €22,827 (-19.5%), from €117,193 to €94,366
of which Trade receivables: -€34,867
- Deferred charges and accrued income -€5,846
down €5,846 (-100%), from €5,846 to €0
- Reserves -€81,972
down €81,972 (-89.1%), from €91,972 to €10,000
- Other debts +€81,321
new in 2025: €81,321
- Tax, wage and social debts -€25,201
down €25,201 (-95.5%), from €26,394 to €1,193
- Short-term financial debts -€1,562
down €1,562 (-100%), from €1,562 to €0
- Gross operating margin -€59,235
down €59,235 (-90.2%), from €65,680 to €6,445
- Taxes -€11,986
down €11,986 (-90.9%), from €13,179 to €1,193
- Other operating charges -€1,237
down €1,237 (-29.3%), from €4,219 to €2,983
- Financial charges -€961
down €961 (-40.6%), from €2,368 to €1,407
- Financial income +€859
up €859 (+17.7%), from €4,864 to €5,723
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 | €124,860 | €96,253 | -€28,607 | -22.9% |
| Formation expenses | 20 | €1,358 | €863 | -€495 | -36.4% |
| Fixed assets | 21/28 | €463 | €171 | -€293 | -63.1% |
| Tangible fixed assets | 22/27 | €433 | €171 | -€263 | -60.6% |
| Furniture and vehicles | 24 | €433 | €171 | -€263 | -60.6% |
| Financial fixed assets | 28 | €30 | €0 | -€30 | -100% |
| Current assets | 29/58 | €123,039 | €95,219 | -€27,820 | -22.6% |
| Amounts receivable within one year | 40/41 | €117,193 | €94,366 | -€22,827 | -19.5% |
| Trade receivables | 40 | €34,867 | €0 | -€34,867 | -100% |
| Other amounts receivable | 41 | €82,325 | €94,366 | +€12,041 | +14.6% |
| Cash at bank and in hand | 54/58 | - | €853 | +€853 | |
| Deferred charges and accrued income | 490/1 | €5,846 | €0 | -€5,846 | -100% |
| Total equity and liabilities | 10/49 | €124,860 | €96,253 | -€28,607 | -22.9% |
| Equity | 10/15 | €93,472 | €11,500 | -€81,972 | -87.7% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €91,972 | €10,000 | -€81,972 | -89.1% |
| Distributable reserves | 133 | €91,972 | €10,000 | -€81,972 | -89.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €31,388 | €84,753 | +€53,365 | +170% |
| Amounts payable within one year | 42/48 | €31,388 | €84,753 | +€53,365 | +170% |
| Financial debts | 43 | €1,562 | €0 | -€1,562 | -100% |
| Credit institutions | 430/8 | €1,562 | €0 | -€1,562 | -100% |
| Trade debts | 44 | €3,432 | €2,239 | -€1,193 | -34.8% |
| Suppliers | 440/4 | €3,432 | €2,239 | -€1,193 | -34.8% |
| Taxes, remuneration and social security | 45 | €26,394 | €1,193 | -€25,201 | -95.5% |
| Taxes | 450/3 | €26,394 | €1,193 | -€25,201 | -95.5% |
| Other amounts payable | 47/48 | - | €81,321 | +€81,321 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €758 | €757 | -€0 | -0.1% |
| Other operating charges | 640/8 | €4,219 | €2,983 | -€1,237 | -29.3% |
| Non-recurring operating charges | 66A | €25,680 | €6,480 | -€19,199 | -74.8% |
| Gross operating margin | 9900 | €65,680 | €6,445 | -€59,235 | -90.2% |
| Operating profit (loss) | 9901 | €35,024 | -€3,775 | -€38,799 | |
| Financial income | 75/76B | €4,864 | €5,723 | +€859 | +17.7% |
| Recurring financial income | 75 | €4,864 | €5,723 | +€859 | +17.7% |
| Financial charges | 65/66B | €2,368 | €1,407 | -€961 | -40.6% |
| Recurring financial charges | 65 | €2,368 | €1,407 | -€961 | -40.6% |
| Profit (loss) for the period before taxes | 9903 | €37,520 | €542 | -€36,978 | -98.6% |
| Income taxes | 67/77 | €13,179 | €1,193 | -€11,986 | -90.9% |
| Profit (loss) for the period | 9904 | €24,341 | -€651 | -€24,992 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,341 | -€651 | -€24,992 |
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 13 October 2026 via checked.be.