OPSINOX: 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.
What changed
OPSINOX
NACE 46.820, Wholesale trade
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€26,672
2024 · €8,687+€17,986
Equity
€3.1m
2024 · €3.1m+€26,672
Cash
€116,575
2024 · €49,955+€66,620
Balance sheet total
€5.4m
2024 · €5.7m-€300,568
Largest movements
Assets
- Receivables within one year -€252,933
down €252,933 (-34.9%), from €725,121 to €472,188
of which Trade receivables: -€249,858
- Tangible fixed assets -€171,178
down €171,178 (-5.2%), from €3.3m to €3.1m
- Cash +€66,620
up €66,620 (+133.4%), from €49,955 to €116,575
mainly Depreciation (+€320,701) and Receivables within one year (+€252,933)
Equity and liabilities
- Debts after one year -€305,777
down €305,777 (-26.8%), from €1.1m to €834,348
- Short-term financial debts +€101,204
up €101,204 (+20.3%), from €498,796 to €600,000
- Current portion of long-term debt -€59,635
down €59,635 (-22.5%), from €265,411 to €205,777
Income statement
- Gross operating margin -€170,566
down €170,566 (-10.6%), from €1.6m to €1.4m
- Depreciation -€159,682
down €159,682 (-33.2%), from €480,383 to €320,701
- Financial charges -€30,936
down €30,936 (-24.9%), from €124,245 to €93,309
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.
Result 2024
€8,687
Gross operating margin
-€170,566
Staff costs
-€5,672
Depreciation
+€159,682
Other operating charges
+€4,007
Financial income
-€441
Financial charges
+€30,936
Taxes
+€39
Result 2025
€26,672
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.
From operations
+€526,665
Investment
-€195,838
Financing
-€264,207
Cash 2024
€49,955
From operations (derived)
+€526,665
Net result for the year
+€26,672
Depreciation
+€320,701
Stocks and contracts
-€31,610
Receivables within one year
+€252,933
Deferred charges and accrued income
+€21,002
Trade debts
-€20,722
Tax, wage and social debts
-€6,912
Accrued charges and deferred income
-€35,400
Investment (derived)
-€195,838
Investment in fixed assets (net)
-€195,838
Financing
-€264,207
Debts after one year
-€305,777
Current portion of long-term debt
-€59,635
Short-term financial debts
+€101,204
Cash 2025
€116,575
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,712,187 | €5,411,619 | -€300,568 | -5.3% |
| Fixed assets | 21/28 | €3,333,549 | €3,208,686 | -€124,863 | -3.7% |
| Intangible fixed assets | 21 | €56,271 | €102,586 | +€46,315 | +82.3% |
| Tangible fixed assets | 22/27 | €3,276,507 | €3,105,329 | -€171,178 | -5.2% |
| Land and buildings | 22 | €1,969,549 | €1,905,156 | -€64,392 | -3.3% |
| Plant, machinery and equipment | 23 | €250,012 | €227,062 | -€22,950 | -9.2% |
| Furniture and vehicles | 24 | €5,947 | €4,114 | -€1,832 | -30.8% |
| Leasing and similar rights | 25 | €1,051,000 | €968,997 | -€82,003 | -7.8% |
| Financial fixed assets | 28 | €771 | €771 | = | 0.0% |
| Current assets | 29/58 | €2,378,638 | €2,202,933 | -€175,705 | -7.4% |
| Stocks and contracts in progress | 3 | €1,530,668 | €1,562,278 | +€31,610 | +2.1% |
| Stocks | 30/36 | €1,530,668 | €1,562,278 | +€31,610 | +2.1% |
| Amounts receivable within one year | 40/41 | €725,121 | €472,188 | -€252,933 | -34.9% |
| Trade receivables | 40 | €693,521 | €443,664 | -€249,858 | -36.0% |
| Other amounts receivable | 41 | €31,600 | €28,524 | -€3,076 | -9.7% |
| Cash at bank and in hand | 54/58 | €49,955 | €116,575 | +€66,620 | +133.4% |
| Deferred charges and accrued income | 490/1 | €72,894 | €51,892 | -€21,002 | -28.8% |
| Total equity and liabilities | 10/49 | €5,712,187 | €5,411,619 | -€300,568 | -5.3% |
| Equity | 10/15 | €3,061,706 | €3,088,378 | +€26,672 | +0.9% |
| Contributions | 10/11 | €1,995,000 | €1,995,000 | = | 0.0% |
| Capital | 10 | €1,995,000 | €1,995,000 | = | 0.0% |
| Issued capital | 100 | €2,370,000 | €2,370,000 | = | 0.0% |
| Uncalled capital | 101 | €375,000 | €375,000 | = | 0.0% |
| Reserves | 13 | €1,066,706 | €1,093,378 | +€26,672 | +2.5% |
| Non-distributable reserves | 130/1 | €59,806 | €61,139 | +€1,334 | +2.2% |
| Legal reserve | 130 | €59,806 | €61,139 | +€1,334 | +2.2% |
| Tax-exempt reserves | 132 | €52,623 | €52,623 | = | 0.0% |
| Distributable reserves | 133 | €954,278 | €979,616 | +€25,338 | +2.7% |
| Amounts payable | 17/49 | €2,650,481 | €2,323,240 | -€327,240 | -12.3% |
| Amounts payable after more than one year | 17 | €1,140,125 | €834,348 | -€305,777 | -26.8% |
| Financial debts | 170/4 | €1,140,125 | €834,348 | -€305,777 | -26.8% |
| Amounts payable within one year | 42/48 | €1,455,989 | €1,469,925 | +€13,936 | +1.0% |
| Current portion of amounts payable after more than one year | 42 | €265,411 | €205,777 | -€59,635 | -22.5% |
| Financial debts | 43 | €498,796 | €600,000 | +€101,204 | +20.3% |
| Credit institutions | 430/8 | €498,796 | €600,000 | +€101,204 | +20.3% |
| Trade debts | 44 | €357,812 | €337,091 | -€20,722 | -5.8% |
| Suppliers | 440/4 | €357,812 | €337,091 | -€20,722 | -5.8% |
| Taxes, remuneration and social security | 45 | €113,970 | €107,058 | -€6,912 | -6.1% |
| Taxes | 450/3 | €32,632 | €31,556 | -€1,076 | -3.3% |
| Remuneration and social security | 454/9 | €81,337 | €75,501 | -€5,836 | -7.2% |
| Other amounts payable | 47/48 | €220,000 | €220,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €54,367 | €18,967 | -€35,400 | -65.1% |
| Non-recurring operating income | 76A | - | €73,539 | +€73,539 | |
| Remuneration, social security and pensions | 62 | €932,558 | €938,229 | +€5,672 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €480,383 | €320,701 | -€159,682 | -33.2% |
| Other operating charges | 640/8 | €59,321 | €55,315 | -€4,007 | -6.8% |
| Gross operating margin | 9900 | €1,605,651 | €1,435,085 | -€170,566 | -10.6% |
| Operating profit (loss) | 9901 | €133,389 | €120,840 | -€12,549 | -9.4% |
| Financial income | 75/76B | €1,021 | €580 | -€441 | -43.2% |
| Recurring financial income | 75 | €1,021 | €580 | -€441 | -43.2% |
| Financial charges | 65/66B | €124,245 | €93,309 | -€30,936 | -24.9% |
| Recurring financial charges | 65 | €124,245 | €93,309 | -€30,936 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | €10,165 | €28,111 | +€17,946 | +176.5% |
| Income taxes | 67/77 | €1,479 | €1,439 | -€39 | -2.7% |
| Profit (loss) for the period | 9904 | €8,687 | €26,672 | +€17,986 | +207.1% |
| Profit (loss) for the period to be appropriated | 9905 | €8,687 | €26,672 | +€17,986 | +207.1% |
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 11 October 2026 via checked.be.