OPHIR: 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.
OPHIR
Largest movements
- Current investments -€1.5m
down €1.5m (-100.0%), from €1.5m to €0
- Cash +€1.3m
up €1.3m (+446.6%), from €295,947 to €1.6m
mainly Net result for the year (+€2.0m) and Current investments (+€1.5m)
- Financial fixed assets +€376,581
up €376,581 (+3.8%), from €10.0m to €10.3m
- Receivables after one year -€162,713
down €162,713 (-29.7%), from €547,504 to €384,791
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€1.0m
down €1.0m (-32.8%), from €3.2m to €2.1m
- Gross operating margin +€67,392
up €67,392 (+80.6%), from -€83,652 to -€16,260
- Other operating charges +€10,133
up €10,133 (+467.0%), from €2,170 to €12,303
- Taxes +€5,704
up €5,704 (+50.8%), from €11,227 to €16,932
- Financial charges -€2,356
down €2,356 (-83.1%), from €2,835 to €479
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 | €14,817,783 | €14,861,860 | +€44,076 | +0.3% |
| Fixed assets | 21/28 | €10,242,625 | €10,595,721 | +€353,096 | +3.4% |
| Tangible fixed assets | 22/27 | €280,081 | €256,596 | -€23,485 | -8.4% |
| Land and buildings | 22 | €231,347 | €222,264 | -€9,084 | -3.9% |
| Furniture and vehicles | 24 | €48,733 | €34,332 | -€14,402 | -29.6% |
| Financial fixed assets | 28 | €9,962,545 | €10,339,126 | +€376,581 | +3.8% |
| Current assets | 29/58 | €4,575,158 | €4,266,138 | -€309,020 | -6.8% |
| Amounts receivable after more than one year | 29 | €547,504 | €384,791 | -€162,713 | -29.7% |
| Trade receivables | 290 | €547,504 | €384,791 | -€162,713 | -29.7% |
| Amounts receivable within one year | 40/41 | €2,217,664 | €2,263,142 | +€45,478 | +2.1% |
| Trade receivables | 40 | €5,047 | €6,978 | +€1,931 | +38.3% |
| Other amounts receivable | 41 | €2,212,617 | €2,256,164 | +€43,548 | +2.0% |
| Current investments | 50/53 | €1,500,000 | €0 | -€1.5m | -100.0% |
| Cash at bank and in hand | 54/58 | €295,947 | €1,617,531 | +€1.3m | +446.6% |
| Deferred charges and accrued income | 490/1 | €14,043 | €674 | -€13,368 | -95.2% |
| Total equity and liabilities | 10/49 | €14,817,783 | €14,861,860 | +€44,076 | +0.3% |
| Equity | 10/15 | €14,811,074 | €14,860,424 | +€49,350 | +0.3% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €151,584 | €151,078 | -€506 | -0.3% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,584 | €1,078 | -€506 | -32.0% |
| Distributable reserves | 133 | €140,000 | €140,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,559,490 | €14,609,346 | +€49,856 | +0.3% |
| Provisions and deferred taxes | 16 | €665 | €453 | -€213 | -32.0% |
| Deferred taxes | 168 | €665 | €453 | -€213 | -32.0% |
| Amounts payable | 17/49 | €6,044 | €983 | -€5,060 | -83.7% |
| Amounts payable within one year | 42/48 | €5,027 | €983 | -€4,044 | -80.4% |
| Trade debts | 44 | €0 | €983 | +€983 | |
| Suppliers | 440/4 | €0 | €983 | +€983 | |
| Taxes, remuneration and social security | 45 | €5,027 | €0 | -€5,027 | -100.0% |
| Taxes | 450/3 | €113 | €0 | -€113 | -100.0% |
| Remuneration and social security | 454/9 | €4,914 | €0 | -€4,914 | -100.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €1,017 | €0 | -€1,017 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,041 | €23,485 | +€444 | +1.9% |
| Other operating charges | 640/8 | €2,170 | €12,303 | +€10,133 | +467.0% |
| Gross operating margin | 9900 | -€83,652 | -€16,260 | +€67,392 | +80.6% |
| Operating profit (loss) | 9901 | -€108,864 | -€52,048 | +€56,815 | +52.2% |
| Financial income | 75/76B | €3,154,701 | €2,118,595 | -€1.0m | -32.8% |
| Recurring financial income | 75 | €3,154,701 | €2,118,595 | -€1.0m | -32.8% |
| Financial charges | 65/66B | €2,835 | €479 | -€2,356 | -83.1% |
| Recurring financial charges | 65 | €2,835 | €479 | -€2,356 | -83.1% |
| Profit (loss) for the period before taxes | 9903 | €3,043,002 | €2,066,068 | -€976,934 | -32.1% |
| Transfer from deferred taxes | 780 | €213 | €213 | +€0 | 0.0% |
| Income taxes | 67/77 | €11,227 | €16,932 | +€5,704 | +50.8% |
| Profit (loss) for the period | 9904 | €3,031,988 | €2,049,350 | -€982,638 | -32.4% |
| Transfer from tax-exempt reserves | 789 | €506 | €506 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,032,494 | €2,049,856 | -€982,638 | -32.4% |
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 3 October 2026 via checked.be.