OPEN2: what changed
OPEN2
Largest movements
- Receivables within one year +€36,413
up €36,413 (+42.3%), from €86,077 to €122,490
of which Trade receivables: +€39,183
- Tangible fixed assets -€33,404
down €33,404 (-17.9%), from €186,447 to €153,043
of which Land and buildings: -€23,613
- Cash -€23,947
down €23,947 (-67.7%), from €35,366 to €11,419
mainly Debts after one year (-€46,258) and Receivables within one year (-€36,413)
- Intangible fixed assets +€10,518
up €10,518 (+66.6%), from €15,786 to €26,304
- Debts after one year -€46,258
down €46,258 (-30.0%), from €154,148 to €107,890
- Short-term financial debts +€34,351
up €34,351 (+4,866%), from €706 to €35,057
of which Other loans: +€35,000
- Reserves -€20,197
down €20,197 (-21.8%), from €92,589 to €72,392
of which Distributable reserves: -€20,197
- Other debts +€20,197
new in 2025: €20,197
- Trade debts -€7,666
down €7,666 (-25.5%), from €30,081 to €22,415
- Gross operating margin +€48,688
up €48,688 (+40.8%), from €119,226 to €167,914
- Staff costs +€11,238
up €11,238 (+13.8%), from €81,582 to €92,821
- Depreciation +€10,564
up €10,564 (+26.7%), from €39,500 to €50,064
- Other operating charges +€7,236
up €7,236 (+207%), from €3,489 to €10,725
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €327,414 | €318,356 | -€9,058 | -2.8% |
| Fixed assets | 21/28 | €202,548 | €179,662 | -€22,886 | -11.3% |
| Intangible fixed assets | 21 | €15,786 | €26,304 | +€10,518 | +66.6% |
| Tangible fixed assets | 22/27 | €186,447 | €153,043 | -€33,404 | -17.9% |
| Land and buildings | 22 | €152,194 | €128,581 | -€23,613 | -15.5% |
| Plant, machinery and equipment | 23 | €674 | €371 | -€303 | -45.0% |
| Furniture and vehicles | 24 | €33,580 | €24,092 | -€9,488 | -28.3% |
| Financial fixed assets | 28 | €315 | €315 | = | 0.0% |
| Current assets | 29/58 | €124,866 | €138,694 | +€13,828 | +11.1% |
| Stocks and contracts in progress | 3 | €125 | €95 | -€30 | -24.0% |
| Stocks | 30/36 | €125 | €95 | -€30 | -24.0% |
| Amounts receivable within one year | 40/41 | €86,077 | €122,490 | +€36,413 | +42.3% |
| Trade receivables | 40 | €62,313 | €101,496 | +€39,183 | +62.9% |
| Other amounts receivable | 41 | €23,764 | €20,995 | -€2,770 | -11.7% |
| Current investments | 50/53 | €547 | €1,403 | +€856 | +156% |
| Cash at bank and in hand | 54/58 | €35,366 | €11,419 | -€23,947 | -67.7% |
| Deferred charges and accrued income | 490/1 | €2,751 | €3,287 | +€536 | +19.5% |
| Total equity and liabilities | 10/49 | €327,414 | €318,356 | -€9,058 | -2.8% |
| Equity | 10/15 | €86,530 | €70,281 | -€16,249 | -18.8% |
| Contributions | 10/11 | €9,200 | €9,200 | = | 0.0% |
| Reserves | 13 | €92,589 | €72,392 | -€20,197 | -21.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €90,729 | €70,532 | -€20,197 | -22.3% |
| Profit (loss) carried forward | 14 | -€15,258 | -€11,311 | +€3,948 | +25.9% |
| Amounts payable | 17/49 | €240,884 | €248,075 | +€7,192 | +3.0% |
| Amounts payable after more than one year | 17 | €154,148 | €107,890 | -€46,258 | -30.0% |
| Financial debts | 170/4 | €154,148 | €107,890 | -€46,258 | -30.0% |
| Amounts payable within one year | 42/48 | €86,735 | €140,185 | +€53,450 | +61.6% |
| Current portion of amounts payable after more than one year | 42 | €51,060 | €51,999 | +€939 | +1.8% |
| Financial debts | 43 | €706 | €35,057 | +€34,351 | +4,866% |
| Credit institutions | 430/8 | €706 | €57 | -€649 | -91.9% |
| Other loans | 439 | - | €35,000 | +€35,000 | |
| Trade debts | 44 | €30,081 | €22,415 | -€7,666 | -25.5% |
| Suppliers | 440/4 | €30,081 | €22,415 | -€7,666 | -25.5% |
| Taxes, remuneration and social security | 45 | €4,889 | €10,518 | +€5,629 | +115% |
| Taxes | 450/3 | €720 | €6,224 | +€5,504 | +765% |
| Remuneration and social security | 454/9 | €4,169 | €4,294 | +€125 | +3.0% |
| Other amounts payable | 47/48 | - | €20,197 | +€20,197 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €81,582 | €92,821 | +€11,238 | +13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,500 | €50,064 | +€10,564 | +26.7% |
| Other operating charges | 640/8 | €3,489 | €10,725 | +€7,236 | +207% |
| Gross operating margin | 9900 | €119,226 | €167,914 | +€48,688 | +40.8% |
| Operating profit (loss) | 9901 | -€5,346 | €14,305 | +€19,650 | |
| Financial income | 75/76B | €29 | €4 | -€25 | -85.3% |
| Recurring financial income | 75 | €29 | €4 | -€25 | -85.3% |
| Financial charges | 65/66B | €9,785 | €10,199 | +€413 | +4.2% |
| Recurring financial charges | 65 | €9,785 | €10,199 | +€413 | +4.2% |
| Profit (loss) for the period before taxes | 9903 | -€15,101 | €4,110 | +€19,212 | |
| Income taxes | 67/77 | €157 | €163 | +€6 | +3.7% |
| Profit (loss) for the period | 9904 | -€15,258 | €3,948 | +€19,206 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,258 | €3,948 | +€19,206 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.