OPINIE: 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.
OPINIE
Largest movements
- Receivables within one year -€13,689
down €13,689 (-71.9%), from €19,049 to €5,360
of which Trade receivables: -€13,754
- Cash -€2,580
down €2,580 (-39.8%), from €6,477 to €3,898
mainly Contributions, distributions and other (-€36,967) and Trade debts (-€16,002)
- Tangible fixed assets -€2,425
down €2,425 (-25.8%), from €9,403 to €6,978
- Other debts +€42,255
up €42,255 (+3,005%), from €1,406 to €43,661
- Reserves -€34,762
down €34,762 (-30.0%), from €115,886 to €81,124
- Trade debts -€16,002
down €16,002 (-29.0%), from €55,255 to €39,253
- Short-term financial debts -€6,334
down €6,334 (-50.5%), from €12,546 to €6,212
of which Credit institutions: -€6,334
- Tax, wage and social debts -€3,042
down €3,042 (-24.6%), from €12,359 to €9,317
- Gross operating margin +€12,414
up €12,414 (+271%), from €4,579 to €16,993
- Depreciation +€6,958
up €6,958 (+329%), from €2,117 to €9,075
- Taxes +€2,390
up €2,390 (+81.5%), from €2,933 to €5,324
- Financial income -€1,699
down €1,699 (-28.2%), from €6,020 to €4,321
- Financial charges -€1,440
down €1,440 (-40.3%), from €3,573 to €2,132
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 | €205,102 | €185,980 | -€19,123 | -9.3% |
| Fixed assets | 21/28 | €9,403 | €6,978 | -€2,425 | -25.8% |
| Tangible fixed assets | 22/27 | €9,403 | €6,978 | -€2,425 | -25.8% |
| Plant, machinery and equipment | 23 | €3,967 | €3,107 | -€861 | -21.7% |
| Furniture and vehicles | 24 | €3,517 | €2,307 | -€1,209 | -34.4% |
| Other tangible fixed assets | 26 | €1,919 | €1,564 | -€355 | -18.5% |
| Current assets | 29/58 | €195,699 | €179,002 | -€16,698 | -8.5% |
| Amounts receivable after more than one year | 29 | €144,564 | €142,687 | -€1,877 | -1.3% |
| Other amounts receivable | 291 | €144,564 | €142,687 | -€1,877 | -1.3% |
| Stocks and contracts in progress | 3 | €25,609 | €27,057 | +€1,448 | +5.7% |
| Stocks | 30/36 | €25,609 | €27,057 | +€1,448 | +5.7% |
| Amounts receivable within one year | 40/41 | €19,049 | €5,360 | -€13,689 | -71.9% |
| Trade receivables | 40 | €14,112 | €358 | -€13,754 | -97.5% |
| Other amounts receivable | 41 | €4,937 | €5,002 | +€65 | +1.3% |
| Cash at bank and in hand | 54/58 | €6,477 | €3,898 | -€2,580 | -39.8% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €205,102 | €185,980 | -€19,123 | -9.3% |
| Equity | 10/15 | €122,086 | €87,324 | -€34,762 | -28.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €115,886 | €81,124 | -€34,762 | -30.0% |
| Distributable reserves | 133 | €115,886 | €81,124 | -€34,762 | -30.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €83,017 | €98,656 | +€15,639 | +18.8% |
| Amounts payable after more than one year | 17 | €213 | €0 | -€213 | -100% |
| Financial debts | 170/4 | €213 | €0 | -€213 | -100% |
| Amounts payable within one year | 42/48 | €82,804 | €98,656 | +€15,852 | +19.1% |
| Current portion of amounts payable after more than one year | 42 | €1,238 | €213 | -€1,026 | -82.8% |
| Financial debts | 43 | €12,546 | €6,212 | -€6,334 | -50.5% |
| Credit institutions | 430/8 | €12,546 | €6,212 | -€6,334 | -50.5% |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €55,255 | €39,253 | -€16,002 | -29.0% |
| Suppliers | 440/4 | €55,255 | €39,253 | -€16,002 | -29.0% |
| Taxes, remuneration and social security | 45 | €12,359 | €9,317 | -€3,042 | -24.6% |
| Taxes | 450/3 | €12,359 | €9,317 | -€3,042 | -24.6% |
| Other amounts payable | 47/48 | €1,406 | €43,661 | +€42,255 | +3,005% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,117 | €9,075 | +€6,958 | +329% |
| Other operating charges | 640/8 | €1,842 | €2,577 | +€735 | +39.9% |
| Gross operating margin | 9900 | €4,579 | €16,993 | +€12,414 | +271% |
| Operating profit (loss) | 9901 | €619 | €5,341 | +€4,721 | +762% |
| Financial income | 75/76B | €6,020 | €4,321 | -€1,699 | -28.2% |
| Recurring financial income | 75 | €6,020 | €4,321 | -€1,699 | -28.2% |
| Financial charges | 65/66B | €3,573 | €2,132 | -€1,440 | -40.3% |
| Recurring financial charges | 65 | €3,573 | €2,132 | -€1,440 | -40.3% |
| Profit (loss) for the period before taxes | 9903 | €3,066 | €7,529 | +€4,463 | +146% |
| Income taxes | 67/77 | €2,933 | €5,324 | +€2,390 | +81.5% |
| Profit (loss) for the period | 9904 | €133 | €2,206 | +€2,073 | +1,559% |
| Profit (loss) for the period to be appropriated | 9905 | €133 | €2,206 | +€2,073 | +1,559% |
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.