SP Opal 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.
SP Opal II
Largest movements
- Financial fixed assets -€37.3m
down €37.3m (-21.7%), from €171.5m to €134.3m
- Contributions -€37.4m
down €37.4m (-21.8%), from €171.3m to €133.9m
- Financial charges +€30.7m
up €30.7m (+375,213%), from €8,188 to €30.7m
of which Non-recurring financial charges: +€30.7m
- Financial income -€26.3m
down €26.3m (-57.5%), from €45.7m to €19.4m
- Gross operating margin -€18.9m
down €18.9m (-53.5%), from €35.3m to €16.4m
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 | €171,552,599 | €134,259,359 | -€37.3m | -21.7% |
| Fixed assets | 21/28 | €171,548,008 | €134,253,881 | -€37.3m | -21.7% |
| Financial fixed assets | 28 | €171,548,008 | €134,253,881 | -€37.3m | -21.7% |
| Current assets | 29/58 | €4,591 | €5,478 | +€887 | +19.3% |
| Amounts receivable within one year | 40/41 | €4,508 | €4,694 | +€187 | +4.1% |
| Other amounts receivable | 41 | €4,508 | €4,694 | +€187 | +4.1% |
| Cash at bank and in hand | 54/58 | €84 | €784 | +€700 | +836% |
| Total equity and liabilities | 10/49 | €171,552,599 | €134,259,359 | -€37.3m | -21.7% |
| Equity | 10/15 | €171,333,027 | €133,902,738 | -€37.4m | -21.8% |
| Contributions | 10/11 | €171,333,027 | €133,902,738 | -€37.4m | -21.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €219,572 | €356,620 | +€137,048 | +62.4% |
| Amounts payable within one year | 42/48 | €219,572 | €356,620 | +€137,048 | +62.4% |
| Trade debts | 44 | €36,559 | €6,674 | -€29,885 | -81.7% |
| Suppliers | 440/4 | €36,559 | €6,674 | -€29,885 | -81.7% |
| Other amounts payable | 47/48 | €183,013 | €349,946 | +€166,933 | +91.2% |
| Non-recurring operating income | 76A | €35,371,503 | €16,468,416 | -€18.9m | -53.4% |
| Gross operating margin | 9900 | €35,302,599 | €16,405,427 | -€18.9m | -53.5% |
| Operating profit (loss) | 9901 | €35,302,599 | €16,405,427 | -€18.9m | -53.5% |
| Financial income | 75/76B | €45,734,333 | €19,443,211 | -€26.3m | -57.5% |
| Recurring financial income | 75 | €45,734,333 | €19,443,211 | -€26.3m | -57.5% |
| Financial charges | 65/66B | €8,188 | €30,730,071 | +€30.7m | +375,213% |
| Recurring financial charges | 65 | €8,188 | €9,174 | +€986 | +12.0% |
| Non-recurring financial charges | 66B | - | €30,720,897 | +€30.7m | |
| Profit (loss) for the period before taxes | 9903 | €81,028,745 | €5,118,567 | -€75.9m | -93.7% |
| Profit (loss) for the period | 9904 | €81,028,745 | €5,118,567 | -€75.9m | -93.7% |
| Profit (loss) for the period to be appropriated | 9905 | €81,028,745 | €5,118,567 | -€75.9m | -93.7% |
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 22 October 2026 via checked.be.