Opwaerts: 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.
Opwaerts
Largest movements
- Financial fixed assets +€24,804
up €24,804 (+60.5%), from €41,000 to €65,804
- Tangible fixed assets -€13,973
down €13,973 (-27.6%), from €50,644 to €36,671
of which Leasing and similar rights: -€9,568
- Cash -€8,026
down €8,026 (-5.9%), from €135,459 to €127,433
mainly Contributions, distributions and other (-€67,405) and Investment in fixed assets (net) (-€24,804)
- Other debts +€40,415
up €40,415 (+122%), from €33,133 to €73,548
- Reserves -€30,216
down €30,216 (-15.5%), from €195,438 to €165,221
- Debts after one year -€9,370
down €9,370 (-41.6%), from €22,511 to €13,141
- Tax, wage and social debts +€2,914
up €2,914 (+38.4%), from €7,589 to €10,503
of which Remuneration and social security: +€2,000
- Gross operating margin -€13,278
down €13,278 (-17.0%), from €78,299 to €65,021
- Taxes -€3,577
down €3,577 (-21.8%), from €16,413 to €12,836
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 | €276,340 | €278,267 | +€1,927 | +0.7% |
| Fixed assets | 21/28 | €91,644 | €102,475 | +€10,831 | +11.8% |
| Tangible fixed assets | 22/27 | €50,644 | €36,671 | -€13,973 | -27.6% |
| Plant, machinery and equipment | 23 | €5,365 | €3,402 | -€1,963 | -36.6% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Leasing and similar rights | 25 | €30,226 | €20,657 | -€9,568 | -31.7% |
| Other tangible fixed assets | 26 | €15,053 | €12,612 | -€2,441 | -16.2% |
| Financial fixed assets | 28 | €41,000 | €65,804 | +€24,804 | +60.5% |
| Current assets | 29/58 | €184,696 | €175,792 | -€8,904 | -4.8% |
| Amounts receivable within one year | 40/41 | €48,424 | €47,438 | -€985 | -2.0% |
| Trade receivables | 40 | €40,201 | €39,681 | -€520 | -1.3% |
| Other amounts receivable | 41 | €8,223 | €7,758 | -€465 | -5.7% |
| Cash at bank and in hand | 54/58 | €135,459 | €127,433 | -€8,026 | -5.9% |
| Deferred charges and accrued income | 490/1 | €814 | €920 | +€107 | +13.1% |
| Total equity and liabilities | 10/49 | €276,340 | €278,267 | +€1,927 | +0.7% |
| Equity | 10/15 | €201,638 | €171,421 | -€30,216 | -15.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €195,438 | €165,221 | -€30,216 | -15.5% |
| Distributable reserves | 133 | €195,438 | €165,221 | -€30,216 | -15.5% |
| Amounts payable | 17/49 | €74,703 | €106,846 | +€32,143 | +43.0% |
| Amounts payable after more than one year | 17 | €22,511 | €13,141 | -€9,370 | -41.6% |
| Financial debts | 170/4 | €22,511 | €13,141 | -€9,370 | -41.6% |
| Amounts payable within one year | 42/48 | €52,192 | €93,705 | +€41,513 | +79.5% |
| Current portion of amounts payable after more than one year | 42 | €9,143 | €9,370 | +€228 | +2.5% |
| Trade debts | 44 | €2,327 | €283 | -€2,044 | -87.8% |
| Suppliers | 440/4 | €2,327 | €283 | -€2,044 | -87.8% |
| Taxes, remuneration and social security | 45 | €7,589 | €10,503 | +€2,914 | +38.4% |
| Taxes | 450/3 | €7,589 | €8,503 | +€914 | +12.0% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €33,133 | €73,548 | +€40,415 | +122% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,099 | €13,973 | -€125 | -0.9% |
| Other operating charges | 640/8 | €1,062 | €1,022 | -€40 | -3.8% |
| Gross operating margin | 9900 | €78,299 | €65,021 | -€13,278 | -17.0% |
| Operating profit (loss) | 9901 | €63,138 | €50,026 | -€13,112 | -20.8% |
| Financial income | 75/76B | €832 | €812 | -€19 | -2.3% |
| Recurring financial income | 75 | €832 | €812 | -€19 | -2.3% |
| Financial charges | 65/66B | €1,032 | €814 | -€218 | -21.1% |
| Recurring financial charges | 65 | €1,032 | €814 | -€218 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | €62,938 | €50,024 | -€12,914 | -20.5% |
| Income taxes | 67/77 | €16,413 | €12,836 | -€3,577 | -21.8% |
| Profit (loss) for the period | 9904 | €46,525 | €37,188 | -€9,337 | -20.1% |
| Profit (loss) for the period to be appropriated | 9905 | €46,525 | €37,188 | -€9,337 | -20.1% |
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 16 October 2026 via checked.be.