OPRAZ: 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.
OPRAZ
Largest movements
- Current investments -€163,618
down €163,618 (-10.6%), from €1.5m to €1.4m
- Cash +€73,389
up €73,389 (+72.7%), from €100,881 to €174,270
mainly Current investments (+€163,618) and Depreciation (+€57,651)
- Receivables within one year -€52,674
down €52,674 (-64.9%), from €81,188 to €28,513
of which Other amounts receivable: -€54,219
- Debts after one year -€99,505
down €99,505 (-14.3%), from €696,341 to €596,836
- Other debts -€76,000
no longer reported in 2025 (was €76,000)
- Gross operating margin +€77,829
up €77,829, from -€27,045 to €50,784
- Other operating charges -€22,966
down €22,966 (-78.2%), from €29,364 to €6,397
- Financial income -€9,773
down €9,773 (-20.0%), from €48,868 to €39,096
- Depreciation +€9,346
up €9,346 (+19.3%), from €48,305 to €57,651
- Financial charges +€4,695
up €4,695 (+23.4%), from €20,044 to €24,739
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 | €4,292,118 | €4,102,505 | -€189,614 | -4.4% |
| Fixed assets | 21/28 | €2,304,034 | €2,257,725 | -€46,309 | -2.0% |
| Intangible fixed assets | 21 | €101,006 | €80,805 | -€20,201 | -20.0% |
| Tangible fixed assets | 22/27 | €1,224,910 | €1,198,870 | -€26,040 | -2.1% |
| Land and buildings | 22 | €1,193,268 | €1,164,228 | -€29,040 | -2.4% |
| Plant, machinery and equipment | 23 | €30,554 | €24,888 | -€5,666 | -18.5% |
| Furniture and vehicles | 24 | €1,088 | €9,754 | +€8,666 | +796% |
| Financial fixed assets | 28 | €978,118 | €978,051 | -€67 | 0.0% |
| Current assets | 29/58 | €1,988,084 | €1,844,779 | -€143,305 | -7.2% |
| Amounts receivable after more than one year | 29 | €260,000 | €260,000 | = | 0.0% |
| Trade receivables | 290 | €260,000 | €260,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €81,188 | €28,513 | -€52,674 | -64.9% |
| Trade receivables | 40 | €1,131 | €2,676 | +€1,545 | +137% |
| Other amounts receivable | 41 | €80,057 | €25,837 | -€54,219 | -67.7% |
| Current investments | 50/53 | €1,542,703 | €1,379,084 | -€163,618 | -10.6% |
| Cash at bank and in hand | 54/58 | €100,881 | €174,270 | +€73,389 | +72.7% |
| Deferred charges and accrued income | 490/1 | €3,313 | €2,912 | -€401 | -12.1% |
| Total equity and liabilities | 10/49 | €4,292,118 | €4,102,505 | -€189,614 | -4.4% |
| Equity | 10/15 | €3,427,007 | €3,427,011 | +€5 | 0.0% |
| Contributions | 10/11 | €192,400 | €192,400 | = | 0.0% |
| Reserves | 13 | €357,751 | €357,751 | = | 0.0% |
| Tax-exempt reserves | 132 | €350,000 | - | -€350,000 | |
| Distributable reserves | 133 | €7,751 | €357,751 | +€350,000 | +4,516% |
| Profit (loss) carried forward | 14 | €2,876,856 | €2,876,861 | +€5 | 0.0% |
| Amounts payable | 17/49 | €865,111 | €675,493 | -€189,618 | -21.9% |
| Amounts payable after more than one year | 17 | €696,341 | €596,836 | -€99,505 | -14.3% |
| Financial debts | 170/4 | €696,341 | €596,836 | -€99,505 | -14.3% |
| Amounts payable within one year | 42/48 | €151,922 | €52,552 | -€99,370 | -65.4% |
| Current portion of amounts payable after more than one year | 42 | €50,090 | €50,996 | +€906 | +1.8% |
| Financial debts | 43 | €286 | - | -€286 | |
| Credit institutions | 430/8 | €286 | - | -€286 | |
| Trade debts | 44 | €1,677 | €1,259 | -€418 | -24.9% |
| Suppliers | 440/4 | €1,677 | €1,259 | -€418 | -24.9% |
| Taxes, remuneration and social security | 45 | €23,870 | €297 | -€23,572 | -98.8% |
| Taxes | 450/3 | €23,870 | €297 | -€23,572 | -98.8% |
| Other amounts payable | 47/48 | €76,000 | - | -€76,000 | |
| Accrued charges and deferred income | 492/3 | €16,849 | €26,105 | +€9,257 | +54.9% |
| Remuneration, social security and pensions | 62 | €918 | - | -€918 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,305 | €57,651 | +€9,346 | +19.3% |
| Other operating charges | 640/8 | €29,364 | €6,397 | -€22,966 | -78.2% |
| Gross operating margin | 9900 | -€27,045 | €50,784 | +€77,829 | |
| Operating profit (loss) | 9901 | -€105,632 | -€13,265 | +€92,367 | +87.4% |
| Financial income | 75/76B | €48,868 | €39,096 | -€9,773 | -20.0% |
| Recurring financial income | 75 | €48,868 | €39,096 | -€9,773 | -20.0% |
| Financial charges | 65/66B | €20,044 | €24,739 | +€4,695 | +23.4% |
| Recurring financial charges | 65 | €20,044 | €24,739 | +€4,695 | +23.4% |
| Profit (loss) for the period before taxes | 9903 | -€76,807 | €1,092 | +€77,899 | |
| Income taxes | 67/77 | -€805 | €1,087 | +€1,892 | |
| Profit (loss) for the period | 9904 | -€76,002 | €5 | +€76,007 | |
| Profit (loss) for the period to be appropriated | 9905 | -€76,002 | €5 | +€76,007 |
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 21 October 2026 via checked.be.