OPTIWATT: 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.
OPTIWATT
Largest movements
- Receivables within one year +€167,934
up €167,934 (+93.8%), from €179,089 to €347,023
of which Trade receivables: +€158,027
- Stocks and contracts -€112,211
down €112,211 (-38.9%), from €288,470 to €176,259
of which Contracts in progress: -€127,764
- Cash -€107,846
down €107,846 (-40.7%), from €265,111 to €157,265
mainly Receivables within one year (-€167,934) and Investment in fixed assets (net) (-€148,848)
- Deferred charges and accrued income +€86,193
up €86,193 (+118.2%), from €72,942 to €159,135
- Intangible fixed assets +€61,149
new in 2025: €61,149
- Profit (loss) carried forward +€142,614
up €142,614 (+72.6%), from €196,518 to €339,131
- Debts after one year -€20,718
down €20,718 (-29.3%), from €70,749 to €50,030
- Trade debts +€17,188
up €17,188 (+14.4%), from €118,985 to €136,173
- Tax, wage and social debts -€11,494
down €11,494 (-9.8%), from €117,364 to €105,870
of which Taxes: -€18,690
- Accrued charges and deferred income +€11,076
new in 2025: €11,076
- Gross operating margin +€135,782
up €135,782 (+41.4%), from €328,151 to €463,933
- Staff costs +€56,324
up €56,324 (+32.8%), from €171,487 to €227,812
- Depreciation +€33,357
up €33,357 (+2012.7%), from €1,657 to €35,015
- Taxes +€11,926
up €11,926 (+35.8%), from €33,332 to €45,258
- Financial charges -€4,893
down €4,893 (-35.7%), from €13,720 to €8,828
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €815,305 | €963,208 | +€147,903 | +18.1% |
| Fixed assets | 21/28 | €9,692 | €123,526 | +€113,833 | +1174.5% |
| Intangible fixed assets | 21 | - | €61,149 | +€61,149 | |
| Tangible fixed assets | 22/27 | €4,182 | €56,867 | +€52,685 | +1259.7% |
| Plant, machinery and equipment | 23 | - | €243 | +€243 | |
| Furniture and vehicles | 24 | €4,182 | €56,624 | +€52,442 | +1253.8% |
| Financial fixed assets | 28 | €5,510 | €5,510 | = | 0.0% |
| Current assets | 29/58 | €805,612 | €839,682 | +€34,070 | +4.2% |
| Stocks and contracts in progress | 3 | €288,470 | €176,259 | -€112,211 | -38.9% |
| Stocks | 30/36 | €57,501 | €73,054 | +€15,553 | +27.0% |
| Contracts in progress | 37 | €230,969 | €103,205 | -€127,764 | -55.3% |
| Amounts receivable within one year | 40/41 | €179,089 | €347,023 | +€167,934 | +93.8% |
| Trade receivables | 40 | €179,083 | €337,110 | +€158,027 | +88.2% |
| Other amounts receivable | 41 | €6 | €9,913 | +€9,907 | +167349.5% |
| Cash at bank and in hand | 54/58 | €265,111 | €157,265 | -€107,846 | -40.7% |
| Deferred charges and accrued income | 490/1 | €72,942 | €159,135 | +€86,193 | +118.2% |
| Total equity and liabilities | 10/49 | €815,305 | €963,208 | +€147,903 | +18.1% |
| Equity | 10/15 | €389,433 | €532,705 | +€143,273 | +36.8% |
| Contributions | 10/11 | €190,415 | €191,074 | +€659 | +0.3% |
| Reserves | 13 | €2,500 | €2,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €196,518 | €339,131 | +€142,614 | +72.6% |
| Amounts payable | 17/49 | €425,872 | €430,503 | +€4,630 | +1.1% |
| Amounts payable after more than one year | 17 | €70,749 | €50,030 | -€20,718 | -29.3% |
| Financial debts | 170/4 | €70,749 | €50,030 | -€20,718 | -29.3% |
| Amounts payable within one year | 42/48 | €355,123 | €369,396 | +€14,273 | +4.0% |
| Current portion of amounts payable after more than one year | 42 | €118,105 | €126,805 | +€8,700 | +7.4% |
| Financial debts | 43 | €23 | €0 | -€23 | -100.0% |
| Credit institutions | 430/8 | €23 | €0 | -€23 | -100.0% |
| Trade debts | 44 | €118,985 | €136,173 | +€17,188 | +14.4% |
| Suppliers | 440/4 | €118,985 | €136,173 | +€17,188 | +14.4% |
| Taxes, remuneration and social security | 45 | €117,364 | €105,870 | -€11,494 | -9.8% |
| Taxes | 450/3 | €97,988 | €79,298 | -€18,690 | -19.1% |
| Remuneration and social security | 454/9 | €19,376 | €26,572 | +€7,196 | +37.1% |
| Other amounts payable | 47/48 | €646 | €547 | -€99 | -15.3% |
| Accrued charges and deferred income | 492/3 | - | €11,076 | +€11,076 | |
| Remuneration, social security and pensions | 62 | €171,487 | €227,812 | +€56,324 | +32.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,657 | €35,015 | +€33,357 | +2012.7% |
| Other operating charges | 640/8 | €4,774 | €4,410 | -€363 | -7.6% |
| Gross operating margin | 9900 | €328,151 | €463,933 | +€135,782 | +41.4% |
| Operating profit (loss) | 9901 | €150,233 | €196,697 | +€46,464 | +30.9% |
| Financial income | 75/76B | €4 | €2 | -€2 | -46.7% |
| Recurring financial income | 75 | €4 | €2 | -€2 | -46.7% |
| Financial charges | 65/66B | €13,720 | €8,828 | -€4,893 | -35.7% |
| Recurring financial charges | 65 | €13,720 | €8,828 | -€4,893 | -35.7% |
| Profit (loss) for the period before taxes | 9903 | €136,517 | €187,872 | +€51,355 | +37.6% |
| Income taxes | 67/77 | €33,332 | €45,258 | +€11,926 | +35.8% |
| Profit (loss) for the period | 9904 | €103,185 | €142,614 | +€39,429 | +38.2% |
| Profit (loss) for the period to be appropriated | 9905 | €103,185 | €142,614 | +€39,429 | +38.2% |
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 10 October 2026 via checked.be.