OPHTA BAUDOUX: 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.
OPHTA BAUDOUX
Largest movements
- Cash +€48,290
up €48,290 (+71.8%), from €67,286 to €115,576
mainly Net result for the year (+€120,295) and Depreciation (+€23,748)
- Tangible fixed assets -€11,989
down €11,989 (-3.1%), from €390,273 to €378,283
of which Land and buildings: -€11,949
- Deferred charges and accrued income -€10,600
down €10,600 (-24.8%), from €42,758 to €32,158
- Reserves +€79,935
up €79,935 (+42.1%), from €189,885 to €269,821
- Debts after one year -€26,905
down €26,905 (-11.6%), from €231,282 to €204,377
- Other debts -€23,358
down €23,358 (-99.9%), from €23,383 to €25
- Advances received -€12,952
no longer reported in 2025 (was €12,952)
- Tax, wage and social debts +€10,768
up €10,768 (+34.0%), from €31,666 to €42,434
of which Taxes: +€13,162
- Gross operating margin +€21,136
up €21,136 (+11.6%), from €181,853 to €202,989
- Financial charges +€6,785
up €6,785 (+234.8%), from €2,890 to €9,675
- Taxes +€5,457
up €5,457 (+13.1%), from €41,569 to €47,026
- Depreciation +€5,366
up €5,366 (+29.2%), from €18,383 to €23,748
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 | €534,129 | €560,599 | +€26,470 | +5.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €390,310 | €378,321 | -€11,989 | -3.1% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €390,273 | €378,283 | -€11,989 | -3.1% |
| Land and buildings | 22 | €342,852 | €330,904 | -€11,949 | -3.5% |
| Plant, machinery and equipment | 23 | €46,259 | €45,559 | -€700 | -1.5% |
| Furniture and vehicles | 24 | €1,162 | €1,821 | +€659 | +56.7% |
| Leasing and similar rights | 25 | €0 | €0 | = | |
| Financial fixed assets | 28 | €38 | €38 | = | 0.0% |
| Current assets | 29/58 | €143,819 | €182,279 | +€38,460 | +26.7% |
| Amounts receivable within one year | 40/41 | €3,503 | €4,711 | +€1,208 | +34.5% |
| Trade receivables | 40 | - | €1,208 | +€1,208 | |
| Other amounts receivable | 41 | €3,503 | €3,503 | = | 0.0% |
| Current investments | 50/53 | €30,272 | €29,834 | -€439 | -1.5% |
| Cash at bank and in hand | 54/58 | €67,286 | €115,576 | +€48,290 | +71.8% |
| Deferred charges and accrued income | 490/1 | €42,758 | €32,158 | -€10,600 | -24.8% |
| Total equity and liabilities | 10/49 | €534,129 | €560,599 | +€26,470 | +5.0% |
| Equity | 10/15 | €202,285 | €282,221 | +€79,935 | +39.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €189,885 | €269,821 | +€79,935 | +42.1% |
| Distributable reserves | 133 | €189,885 | €269,821 | +€79,935 | +42.1% |
| Amounts payable | 17/49 | €331,844 | €278,379 | -€53,465 | -16.1% |
| Amounts payable after more than one year | 17 | €231,282 | €204,377 | -€26,905 | -11.6% |
| Financial debts | 170/4 | €231,282 | €204,377 | -€26,905 | -11.6% |
| Amounts payable within one year | 42/48 | €100,562 | €73,985 | -€26,577 | -26.4% |
| Current portion of amounts payable after more than one year | 42 | €27,666 | €26,905 | -€761 | -2.8% |
| Trade debts | 44 | €4,894 | €4,621 | -€273 | -5.6% |
| Suppliers | 440/4 | €4,894 | €4,621 | -€273 | -5.6% |
| Advances received on contracts in progress | 46 | €12,952 | - | -€12,952 | |
| Taxes, remuneration and social security | 45 | €31,666 | €42,434 | +€10,768 | +34.0% |
| Taxes | 450/3 | €29,272 | €42,434 | +€13,162 | +45.0% |
| Remuneration and social security | 454/9 | €2,395 | - | -€2,395 | |
| Other amounts payable | 47/48 | €23,383 | €25 | -€23,358 | -99.9% |
| Accrued charges and deferred income | 492/3 | - | €17 | +€17 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,383 | €23,748 | +€5,366 | +29.2% |
| Other operating charges | 640/8 | €1,205 | €2,763 | +€1,558 | +129.2% |
| Gross operating margin | 9900 | €181,853 | €202,989 | +€21,136 | +11.6% |
| Operating profit (loss) | 9901 | €162,265 | €176,478 | +€14,212 | +8.8% |
| Financial income | 75/76B | €2,044 | €519 | -€1,526 | -74.6% |
| Recurring financial income | 75 | €2,044 | €519 | -€1,526 | -74.6% |
| Financial charges | 65/66B | €2,890 | €9,675 | +€6,785 | +234.8% |
| Recurring financial charges | 65 | €2,890 | €9,675 | +€6,785 | +234.8% |
| Profit (loss) for the period before taxes | 9903 | €161,420 | €167,321 | +€5,902 | +3.7% |
| Income taxes | 67/77 | €41,569 | €47,026 | +€5,457 | +13.1% |
| Profit (loss) for the period | 9904 | €119,851 | €120,295 | +€444 | +0.4% |
| Profit (loss) for the period to be appropriated | 9905 | €119,851 | €120,295 | +€444 | +0.4% |
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 12 October 2026 via checked.be.