OPHTAMAL: 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.
OPHTAMAL
Largest movements
- Current investments +€152,578
up €152,578 (+42.1%), from €362,491 to €515,068
- Receivables within one year -€60,145
down €60,145 (-53.3%), from €112,913 to €52,768
of which Trade receivables: -€60,145
- Cash +€43,720
up €43,720 (+13.1%), from €333,549 to €377,269
mainly Net result for the year (+€132,009) and Receivables within one year (+€60,145)
- Reserves +€132,009
up €132,009 (+17.3%), from €763,141 to €895,151
- Gross operating margin -€62,137
down €62,137 (-23.4%), from €266,064 to €203,927
- Taxes -€21,149
down €21,149 (-24.0%), from €88,035 to €66,887
- Financial income -€10,012
down €10,012 (-86.2%), from €11,612 to €1,600
- Depreciation -€5,135
down €5,135 (-95.4%), from €5,381 to €246
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 | €810,437 | €950,194 | +€139,756 | +17.2% |
| Fixed assets | 21/28 | €0 | €3,184 | +€3,184 | |
| Tangible fixed assets | 22/27 | €0 | €3,184 | +€3,184 | |
| Furniture and vehicles | 24 | €0 | €3,184 | +€3,184 | |
| Current assets | 29/58 | €810,437 | €947,010 | +€136,572 | +16.9% |
| Amounts receivable within one year | 40/41 | €112,913 | €52,768 | -€60,145 | -53.3% |
| Trade receivables | 40 | €112,913 | €52,768 | -€60,145 | -53.3% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €362,491 | €515,068 | +€152,578 | +42.1% |
| Cash at bank and in hand | 54/58 | €333,549 | €377,269 | +€43,720 | +13.1% |
| Deferred charges and accrued income | 490/1 | €1,484 | €1,904 | +€420 | +28.3% |
| Total equity and liabilities | 10/49 | €810,437 | €950,194 | +€139,756 | +17.2% |
| Equity | 10/15 | €773,141 | €905,151 | +€132,009 | +17.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €763,141 | €895,151 | +€132,009 | +17.3% |
| Distributable reserves | 133 | €763,141 | €895,151 | +€132,009 | +17.3% |
| Amounts payable | 17/49 | €37,296 | €45,043 | +€7,747 | +20.8% |
| Amounts payable after more than one year | 17 | €2,595 | €3,445 | +€850 | +32.8% |
| Other amounts payable | 178/9 | €2,595 | €3,445 | +€850 | +32.8% |
| Amounts payable within one year | 42/48 | €34,702 | €41,598 | +€6,897 | +19.9% |
| Trade debts | 44 | €150 | €160 | +€10 | +6.7% |
| Suppliers | 440/4 | €150 | €160 | +€10 | +6.7% |
| Taxes, remuneration and social security | 45 | €34,552 | €41,438 | +€6,887 | +19.9% |
| Taxes | 450/3 | €34,552 | €41,438 | +€6,887 | +19.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,381 | €246 | -€5,135 | -95.4% |
| Other operating charges | 640/8 | €1,384 | €1,417 | +€34 | +2.4% |
| Gross operating margin | 9900 | €266,064 | €203,927 | -€62,137 | -23.4% |
| Operating profit (loss) | 9901 | €259,299 | €202,263 | -€57,036 | -22.0% |
| Financial income | 75/76B | €11,612 | €1,600 | -€10,012 | -86.2% |
| Recurring financial income | 75 | €11,612 | €1,600 | -€10,012 | -86.2% |
| Financial charges | 65/66B | €2,573 | €4,967 | +€2,394 | +93.0% |
| Recurring financial charges | 65 | €2,573 | €4,967 | +€2,394 | +93.0% |
| Profit (loss) for the period before taxes | 9903 | €268,338 | €198,896 | -€69,442 | -25.9% |
| Income taxes | 67/77 | €88,035 | €66,887 | -€21,149 | -24.0% |
| Profit (loss) for the period | 9904 | €180,303 | €132,009 | -€48,293 | -26.8% |
| Profit (loss) for the period to be appropriated | 9905 | €180,303 | €132,009 | -€48,293 | -26.8% |
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 23 October 2026 via checked.be.