OPHTARA: 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.
OPHTARA
Largest movements
- Tangible fixed assets -€154,790
down €154,790 (-14.6%), from €1.1m to €908,905
of which Land and buildings: -€86,709
- Cash +€153,170
up €153,170 (+110%), from €139,569 to €292,739
mainly Net result for the year (+€509,384) and Depreciation (+€171,064)
- Deferred charges and accrued income -€39,332
down €39,332 (-87.6%), from €44,903 to €5,572
- Receivables within one year +€20,149
up €20,149 (+29.1%), from €69,128 to €89,277
of which Other amounts receivable: +€25,125
- Debts after one year -€147,967
down €147,967 (-25.6%), from €577,570 to €429,603
- Short-term financial debts +€120,000
new in 2025: €120,000
- Tax, wage and social debts +€26,213
up €26,213 (+38.8%), from €67,581 to €93,794
of which Taxes: +€14,046
- Current portion of long-term debt -€23,099
down €23,099 (-13.7%), from €168,590 to €145,491
- Trade debts -€20,075
down €20,075 (-46.5%), from €43,167 to €23,092
- Gross operating margin +€588,329
up €588,329 (+110%), from €533,489 to €1.1m
- Taxes +€143,082
up €143,082 (+404%), from €35,420 to €178,502
- Staff costs +€32,645
up €32,645 (+16.2%), from €201,077 to €233,722
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 | €1,326,924 | €1,299,111 | -€27,812 | -2.1% |
| Fixed assets | 21/28 | €1,063,695 | €908,905 | -€154,790 | -14.6% |
| Tangible fixed assets | 22/27 | €1,063,695 | €908,905 | -€154,790 | -14.6% |
| Land and buildings | 22 | €871,781 | €785,072 | -€86,709 | -9.9% |
| Furniture and vehicles | 24 | €191,914 | €123,833 | -€68,081 | -35.5% |
| Current assets | 29/58 | €263,229 | €390,206 | +€126,977 | +48.2% |
| Stocks and contracts in progress | 3 | €9,629 | €2,619 | -€7,010 | -72.8% |
| Stocks | 30/36 | €9,629 | €2,619 | -€7,010 | -72.8% |
| Amounts receivable within one year | 40/41 | €69,128 | €89,277 | +€20,149 | +29.1% |
| Trade receivables | 40 | €5,614 | €637 | -€4,977 | -88.7% |
| Other amounts receivable | 41 | €63,514 | €88,640 | +€25,125 | +39.6% |
| Cash at bank and in hand | 54/58 | €139,569 | €292,739 | +€153,170 | +110% |
| Deferred charges and accrued income | 490/1 | €44,903 | €5,572 | -€39,332 | -87.6% |
| Total equity and liabilities | 10/49 | €1,326,924 | €1,299,111 | -€27,812 | -2.1% |
| Equity | 10/15 | €418,623 | €428,007 | +€9,384 | +2.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €156,860 | €156,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €155,000 | €155,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €249,363 | €258,747 | +€9,384 | +3.8% |
| Amounts payable | 17/49 | €908,301 | €871,105 | -€37,196 | -4.1% |
| Amounts payable after more than one year | 17 | €577,570 | €429,603 | -€147,967 | -25.6% |
| Financial debts | 170/4 | €577,570 | €429,603 | -€147,967 | -25.6% |
| Amounts payable within one year | 42/48 | €279,338 | €382,376 | +€103,038 | +36.9% |
| Current portion of amounts payable after more than one year | 42 | €168,590 | €145,491 | -€23,099 | -13.7% |
| Financial debts | 43 | - | €120,000 | +€120,000 | |
| Credit institutions | 430/8 | - | €120,000 | +€120,000 | |
| Trade debts | 44 | €43,167 | €23,092 | -€20,075 | -46.5% |
| Suppliers | 440/4 | €43,167 | €23,092 | -€20,075 | -46.5% |
| Taxes, remuneration and social security | 45 | €67,581 | €93,794 | +€26,213 | +38.8% |
| Taxes | 450/3 | €46,007 | €60,053 | +€14,046 | +30.5% |
| Remuneration and social security | 454/9 | €21,574 | €33,741 | +€12,167 | +56.4% |
| Accrued charges and deferred income | 492/3 | €51,392 | €59,125 | +€7,733 | +15.0% |
| Non-recurring operating income | 76A | - | €515,686 | +€515,686 | |
| Remuneration, social security and pensions | 62 | €201,077 | €233,722 | +€32,645 | +16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €169,776 | €171,064 | +€1,288 | +0.8% |
| Other operating charges | 640/8 | €10,523 | €11,996 | +€1,473 | +14.0% |
| Gross operating margin | 9900 | €533,489 | €1,121,818 | +€588,329 | +110% |
| Operating profit (loss) | 9901 | €152,112 | €705,035 | +€552,923 | +363% |
| Financial income | 75/76B | €1,180 | €26 | -€1,154 | -97.8% |
| Recurring financial income | 75 | €1,180 | €26 | -€1,154 | -97.8% |
| Financial charges | 65/66B | €21,708 | €17,177 | -€4,531 | -20.9% |
| Recurring financial charges | 65 | €21,708 | €17,177 | -€4,531 | -20.9% |
| Profit (loss) for the period before taxes | 9903 | €131,585 | €687,885 | +€556,301 | +423% |
| Income taxes | 67/77 | €35,420 | €178,502 | +€143,082 | +404% |
| Profit (loss) for the period | 9904 | €96,165 | €509,384 | +€413,219 | +430% |
| Profit (loss) for the period to be appropriated | 9905 | €96,165 | €509,384 | +€413,219 | +430% |
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 29 October 2026 via checked.be.