OPUS II: 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.
OPUS II
Largest movements
- Tangible fixed assets +€352,399
up €352,399 (+128%), from €275,264 to €627,663
of which Land and buildings: +€369,863
- Cash +€114,009
up €114,009 (+135%), from €84,515 to €198,524
mainly Net result for the year (+€374,098) and Other debts (+€116,746)
- Reserves +€295,787
up €295,787 (+174%), from €170,053 to €465,840
of which Distributable reserves: +€298,760
- Other debts +€116,746
up €116,746 (+1,588%), from €7,350 to €124,096
- Profit (loss) carried forward +€78,311
up €78,311, from -€78,311 to €0
- Debts after one year -€27,104
down €27,104 (-30.4%), from €89,120 to €62,016
- Trade debts +€16,200
up €16,200 (+468%), from €3,460 to €19,660
- Gross operating margin +€544,961
up €544,961 (+1,105%), from €49,326 to €594,287
- Taxes +€158,599
up €158,599 (+56,862%), from €279 to €158,878
- Other operating charges +€6,698
up €6,698 (+104%), from €6,462 to €13,159
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 | €368,097 | €842,191 | +€474,094 | +129% |
| Fixed assets | 21/28 | €276,852 | €629,251 | +€352,399 | +127% |
| Tangible fixed assets | 22/27 | €275,264 | €627,663 | +€352,399 | +128% |
| Land and buildings | 22 | €221,887 | €591,749 | +€369,863 | +167% |
| Plant, machinery and equipment | 23 | €9,210 | €8,191 | -€1,019 | -11.1% |
| Furniture and vehicles | 24 | €41,684 | €25,880 | -€15,804 | -37.9% |
| Other tangible fixed assets | 26 | €2,483 | €1,842 | -€640 | -25.8% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €1,588 | €1,588 | = | 0.0% |
| Current assets | 29/58 | €91,246 | €212,940 | +€121,695 | +133% |
| Stocks and contracts in progress | 3 | - | €3,000 | +€3,000 | |
| Stocks | 30/36 | - | €3,000 | +€3,000 | |
| Amounts receivable within one year | 40/41 | €206 | €3,928 | +€3,722 | +1,807% |
| Trade receivables | 40 | €75 | €0 | -€75 | -100% |
| Other amounts receivable | 41 | €131 | €3,928 | +€3,797 | +2,899% |
| Cash at bank and in hand | 54/58 | €84,515 | €198,524 | +€114,009 | +135% |
| Deferred charges and accrued income | 490/1 | €6,524 | €7,488 | +€964 | +14.8% |
| Total equity and liabilities | 10/49 | €368,097 | €842,191 | +€474,094 | +129% |
| Equity | 10/15 | €169,010 | €543,108 | +€374,098 | +221% |
| Contributions | 10/11 | €77,268 | €77,268 | = | 0.0% |
| Reserves | 13 | €170,053 | €465,840 | +€295,787 | +174% |
| Tax-exempt reserves | 132 | €166,688 | €163,715 | -€2,973 | -1.8% |
| Distributable reserves | 133 | €3,365 | €302,125 | +€298,760 | +8,879% |
| Profit (loss) carried forward | 14 | -€78,311 | €0 | +€78,311 | |
| Provisions and deferred taxes | 16 | €55,563 | €54,572 | -€991 | -1.8% |
| Deferred taxes | 168 | €55,563 | €54,572 | -€991 | -1.8% |
| Amounts payable | 17/49 | €143,525 | €244,511 | +€100,986 | +70.4% |
| Amounts payable after more than one year | 17 | €89,120 | €62,016 | -€27,104 | -30.4% |
| Financial debts | 170/4 | €89,120 | €62,016 | -€27,104 | -30.4% |
| Amounts payable within one year | 42/48 | €53,778 | €182,276 | +€128,498 | +239% |
| Current portion of amounts payable after more than one year | 42 | €40,266 | €28,350 | -€11,916 | -29.6% |
| Trade debts | 44 | €3,460 | €19,660 | +€16,200 | +468% |
| Suppliers | 440/4 | €3,460 | €19,660 | +€16,200 | +468% |
| Taxes, remuneration and social security | 45 | €2,702 | €10,170 | +€7,468 | +276% |
| Taxes | 450/3 | €1,450 | €10,170 | +€8,720 | +601% |
| Remuneration and social security | 454/9 | €1,252 | €0 | -€1,252 | -100% |
| Other amounts payable | 47/48 | €7,350 | €124,096 | +€116,746 | +1,588% |
| Accrued charges and deferred income | 492/3 | €627 | €219 | -€408 | -65.0% |
| Non-recurring operating income | 76A | - | €621,500 | +€621,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,166 | €44,620 | +€4,454 | +11.1% |
| Other operating charges | 640/8 | €6,462 | €13,159 | +€6,698 | +104% |
| Gross operating margin | 9900 | €49,326 | €594,287 | +€544,961 | +1,105% |
| Operating profit (loss) | 9901 | €2,698 | €536,508 | +€533,810 | +19,786% |
| Financial income | 75/76B | €21 | €406 | +€386 | +1,864% |
| Recurring financial income | 75 | €21 | €406 | +€386 | +1,864% |
| Financial charges | 65/66B | €6,240 | €4,930 | -€1,310 | -21.0% |
| Recurring financial charges | 65 | €6,240 | €4,930 | -€1,310 | -21.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,521 | €531,985 | +€535,506 | |
| Transfer from deferred taxes | 780 | - | €991 | +€991 | |
| Income taxes | 67/77 | €279 | €158,878 | +€158,599 | +56,862% |
| Profit (loss) for the period | 9904 | -€3,800 | €374,098 | +€377,898 | |
| Transfer from tax-exempt reserves | 789 | - | €2,973 | +€2,973 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,800 | €377,071 | +€380,871 |
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.