ONRG (0807.407.907): financials and annual accounts

ONRG

Brussels ·KBO/BCE: BE 0807.407.907

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Balance sheet: assets
Total assets`20/58`	687,183	511,439	529,141	477,693	313,085	293,708	552,517	438,955	398,361	344,273	410,156	376,021	305,751	379,021	275,877	269,945	283,807
Fixed assets`21/28`	83,303	146,514	205,559	277,916	121,283	166,737	258,858	234,553	279,034	200,962	219,306	195,655	180,255	192,753	207,398	219,446	203,609
Intangible fixed assets`21`	-	-	-	-	-	-	-	-	12,260	24,520	36,780	49,040	61,300	73,560	85,820	98,080	110,340
Tangible fixed assets`22/27`	78,271	129,766	200,526	272,884	116,251	161,705	253,825	229,521	261,909	171,578	172,411	136,711	109,050	109,289	111,678	111,466	88,619
Land and buildings`22`	28,770	35,878	48,410	58,692	78,106	102,380	116,084	81,415	65,761	76,951	43,525	50,403	59,666	68,337	78,416	77,835	66,506
Plant, machinery and equipment`23`	39,306	40,967	66,166	90,932	29,589	43,094	50,693	40,841	50,709	70,475	35,561	32,644	39,672	32,634	33,262	23,038	22,114
Furniture and vehicles`24`	3,661	6,564	9,466	16,647	8,556	16,232	23,907	12,555	19,158	9,644	14,180	10,140	9,712	8,317	-	10,593	-
Leasing and similar rights`25`	6,534	46,357	76,485	106,612	-	-	-	-	-	-	-	-	-	-	-	-	-
Assets under construction and advance payments`27`	-	-	-	-	-	-	-	-	-	-	50,130	-	-	-	-	-	-
Financial fixed assets`28`	5,033	16,748	5,033	5,033	5,033	5,033	5,033	5,033	4,865	4,865	10,115	9,905	9,905	9,905	9,900	9,900	4,650
Current assets`29/58`	603,880	364,924	323,582	199,777	191,802	126,971	293,660	204,401	119,327	143,311	190,851	180,366	125,496	186,268	68,479	50,500	80,198
Stocks and contracts in progress`3`	30,122	14,962	28,127	24,020	22,657	15,357	17,657	9,059	13,287	16,447	10,548	21,820	17,370	28,979	25,506	35,178	44,500
Stocks`30/36`	30,122	14,962	28,127	24,020	22,657	15,357	17,657	9,059	13,287	16,447	10,548	21,820	17,370	28,979	25,506	35,178	44,500
Amounts receivable within one year`40/41`	499,704	278,790	207,668	125,724	136,734	91,640	133,295	124,667	40,817	96,106	111,501	106,570	66,638	107,262	22,374	-	13,556
Trade receivables`40`	1,589	24,879	24,866	13,267	58,656	45,441	19,988	27,817	2,771	1,771	1,576	27,625	11,129	72,827	2,222	-	3,212
Other amounts receivable`41`	498,115	253,911	182,802	112,458	78,078	46,199	113,307	96,850	38,046	94,336	109,925	78,944	55,509	34,435	20,152	-	10,345
Cash at bank and in hand`54/58`	69,366	66,808	82,812	42,396	28,370	19,327	139,371	69,967	64,474	28,122	66,918	49,333	41,269	49,934	20,598	15,322	22,142
Deferred charges and accrued income`490/1`	4,686	4,364	4,975	7,638	4,040	647	3,337	709	750	2,635	1,883	2,644	219	94	-	-	-
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	687,183	511,439	529,141	477,693	313,085	293,708	552,517	438,955	398,361	344,273	410,156	376,021	305,751	379,021	275,877	269,945	283,807
Equity`10/15`	334,274	275,348	205,640	189,204	182,947	159,428	204,395	96,842	44,330	27,845	107,557	104,475	90,943	80,469	34,171	11,981	13,135
Contributions`10/11`	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200
Issued capital`100`	-	-	-	-	-	-	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600
Uncalled capital`101`	-	-	-	-	-	-	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400
Reserves`13`	20,610	20,610	20,610	20,610	20,610	20,610	20,610	20,610	20,610	20,610	20,610	20,610	20,610	20,610	12,139	620	620
Non-distributable reserves`130/1`	-	-	-	1,860	1,860	1,860	-	-	-	-	-	-	-	-	-	-	-
Legal reserve`130`	-	-	-	-	-	-	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,182	620	620
Reserves not available under the articles`1311`	-	-	-	1,860	1,860	1,860	-	-	-	-	-	-	-	-	-	-	-
Tax-exempt reserves`132`	18,750	18,750	18,750	18,750	18,750	18,750	18,750	18,750	18,750	18,750	18,750	18,750	18,750	18,750	-	-	-
Distributable reserves`133`	1,860	1,860	1,860	-	-	-	-	-	-	-	-	-	-	-	10,957	-	-
Profit (loss) carried forward`14`	307,464	248,538	178,830	162,394	156,137	132,618	177,585	70,032	17,520	1,035	80,747	77,665	64,133	53,659	15,833	5,161	6,315
Amounts payable`17/49`	352,909	236,091	323,502	288,489	130,138	134,281	348,123	342,113	354,031	316,427	302,599	271,546	214,807	298,552	241,706	257,964	270,672
Amounts payable after more than one year`17`	6,725	34,981	82,540	128,645	-	-	41,151	62,059	98,222	37,591	65,198	39,109	29,148	48,454	92,891	137,885	170,059
Financial debts`170/4`	6,725	34,981	82,540	128,645	-	-	41,151	62,059	98,222	37,591	65,198	39,109	29,148	48,454	92,891	137,885	170,059
Amounts payable within one year`42/48`	346,010	200,937	239,511	159,844	130,138	134,281	306,972	280,054	255,809	278,836	237,401	232,437	185,660	250,099	148,815	106,529	92,902
Current portion of amounts payable after more than one year`42`	28,256	49,322	46,435	45,348	727	727	20,908	34,607	36,441	27,607	35,749	32,320	19,306	44,437	43,880	40,585	36,459
Financial debts`43`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	44	-	-
Credit institutions`430/8`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	44	-	-
Trade debts`44`	20,332	17,915	60,618	24,652	52,250	51,675	64,371	40,899	4,918	21,451	44,712	37,050	82,523	72,797	30,250	3,964	20,390
Suppliers`440/4`	20,332	17,915	60,618	24,652	52,250	51,675	64,371	40,899	4,918	21,451	44,712	37,050	82,523	72,797	30,250	3,964	20,390
Advances received on contracts in progress`46`	-	11,877	-	-	-	-	-	-	-	-	-	-	-	71,328	-	-	-
Taxes, remuneration and social security`45`	72,031	62,899	64,089	53,929	38,282	27,418	136,965	43,857	54,721	17,036	45,066	48,956	28,736	29,461	22,023	23,970	20,422
Taxes`450/3`	49,572	29,519	409	725	1,295	11,599	45,523	3,258	4,349	354	10,620	16,024	3,832	12,806	4,341	2,703	2,851
Remuneration and social security`454/9`	22,459	33,380	63,680	53,204	36,987	15,819	91,443	40,599	50,372	16,683	34,446	32,931	24,904	16,654	17,682	21,267	17,571
Other amounts payable`47/48`	225,391	58,924	68,369	35,915	38,879	54,460	84,727	160,691	159,728	212,742	111,875	114,112	55,095	32,076	52,618	38,010	15,630
Accrued charges and deferred income`492/3`	174	172	1,451	-	-	-	-	-	-	-	-	-	-	-	-	13,550	7,712
Income statement
Non-recurring operating income`76A`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,803	1,800	-
Gross operating margin`9900`	774,714	734,200	703,323	450,612	227,907	185,542	722,954	548,726	471,229	365,453	435,315	437,465	330,727	321,324	253,554	161,368	176,538
Remuneration, social security and pensions`62`	444,986	520,886	579,932	345,228	150,957	194,530	408,086	308,445	236,729	187,153	266,257	262,921	232,661	223,305	186,006	122,662	125,052
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	36,997	70,760	92,290	85,759	50,438	61,437	94,419	88,515	85,741	65,661	52,851	51,917	36,135	22,926	42,604	28,325	23,426
Other operating charges`640/8`	11,449	10,074	13,013	5,659	1,255	1,807	1,546	6,239	3,257	3,902	3,174	6,063	7,182	459	1,546	784	805
Non-recurring operating charges`66A`	146,902	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating profit (loss)`9901`	134,379	132,479	18,089	13,966	25,257	-72,231	218,903	145,527	145,502	108,738	113,032	116,564	54,748	74,633	23,398	9,596	27,255
Financial income`75/76B`	2,215	5,466	4,008	0	11	121	1,446	626	287	132	1,118	490	357	268	798	127	61
Recurring financial income`75`	2,215	5,466	4,008	0	11	121	1,446	626	287	132	1,118	490	357	268	798	127	61
Financial charges`65/66B`	5,188	5,924	5,518	7,443	1,748	1,888	3,057	3,642	4,052	3,228	7,525	6,444	7,330	9,089	11,081	12,677	17,959
Recurring financial charges`65`	5,188	5,924	5,518	7,443	1,748	1,888	3,057	3,642	4,052	3,228	7,525	6,444	7,330	9,089	11,081	12,677	17,959
Profit (loss) for the period before taxes`9903`	131,406	132,022	16,579	6,523	23,519	-73,999	217,293	142,512	141,737	105,642	106,625	110,610	47,774	65,812	14,918	-1,153	9,357
Income taxes`67/77`	22,480	27,314	143	266	-	-	39,740	-	253	354	3,543	7,078	3,299	8,558	3,685	1	2,422
Profit (loss) for the period`9904`	108,926	104,708	16,436	6,257	23,519	-73,999	177,553	142,512	141,485	105,288	103,082	103,532	44,475	57,254	11,233	-1,154	6,935
Transfer to tax-exempt reserves`689`	-	-	-	-	-	-	-	-	-	-	-	-	-	18,750	-	-	-
Profit (loss) for the period to be appropriated`9905`	108,926	104,708	16,436	6,257	23,519	-73,999	177,553	142,512	141,485	105,288	103,082	103,532	44,475	38,504	11,233	-1,154	6,935
Appropriation of the result
Profit (loss) to be appropriated`9906`	357,464	283,538	178,830	162,394	156,137	132,618	247,585	160,032	142,520	186,035	180,747	167,665	98,133	54,337	16,394	5,161	6,935
Profit (loss) brought forward from the previous period`14P`	248,538	178,830	162,394	156,137	132,618	-	-	-	-	-	-	-	-	-	-	-	-
Transfer to equity`691/2`	-	-	-	-	-	-	-	-	-	-	-	-	-	678	562	-	620
To the legal reserve`6920`	-	-	-	-	-	-	-	-	-	-	-	-	-	678	562	-	620
Profit to be distributed`694/7`	50,000	35,000	-	-	-	-	70,000	90,000	125,000	185,000	100,000	90,000	34,000	-	-	-	-
Directors or managers`695`	50,000	35,000	-	-	-	-	70,000	90,000	125,000	185,000	100,000	90,000	34,000	-	-	-	-
Social balance sheet
Average staff (FTE)`9087`	18.5	15.3	17.8	16.6	7.1	11.5	16	12.2	10.3	7.8	11.1	13	9.5	10.1	7.8	5.8	5.9
Hours worked`1013`	19,493	20,720	23,929	16,357	8,869	12,070	28,305	21,489	17,396	13,371	19,241	19,405	17,686	18,310	13,644	10,493	10,055
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Financial year	Type	Filed	Reference	Document
31-12-2025	micro format	31-08-2026	2026-00505128	PDF
31-12-2024	micro format	31-08-2025	2025-00481762	PDF
31-12-2023	micro format	02-07-2024	2024-00193490	PDF
31-12-2022	micro format	31-08-2023	2023-00435847	PDF
31-12-2021	full format	26-09-2022	2022-20435687	PDF
31-12-2020	full format	31-08-2021	2021-61400335	PDF
31-12-2019	full format	30-10-2020	2020-65100344	PDF
31-12-2018	micro format	23-07-2019	2019-35900115	PDF
31-12-2017	micro format	29-08-2018	2018-59900212	PDF
31-12-2016	micro format	23-08-2017	2017-47900345	PDF
31-12-2015	full format	19-08-2016	2016-43600341	PDF
31-12-2014	full format	28-08-2015	2015-50300327	PDF
31-12-2013	full format	19-08-2014	2014-44000036	PDF
31-12-2012	full format	30-08-2013	2013-54600205	PDF
31-12-2011	full format	23-10-2012	2012-61300177	PDF
31-12-2010	full format	31-08-2011	2011-53200428	PDF
31-12-2009	full format	22-07-2010	2010-34700021	PDF

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
EBITDA	171,376	203,240	110,378	99,725	75,695	-10,795	313,322	234,042	231,243	174,398	165,884	168,481	90,883	97,559	66,002	37,922	50,681
Cash flow	145,923	175,468	108,725	92,016	73,957	-12,562	271,972	231,027	227,226	170,949	155,933	155,449	80,610	80,181	53,837	27,171	30,362
Investment in fixed assets	18,791	11,716	19,932	245,572	9,627	32,457	118,723	44,035	178,321	52,567	79,738	67,318	23,637	30,533	41,149	44,161	227,036
Change in cash	2,558	-16,004	40,417	14,025	9,044	-120,044	69,404	5,493	36,352	-38,796	17,585	8,064	-8,665	29,335	5,277	-6,820	-
Working capital	257,870	163,987	84,072	39,933	61,664	-7,310	-13,312	-75,653	-136,482	-135,526	-46,551	-52,071	-60,164	-63,831	-80,336	-56,029	-12,704
Solvency	48.6%	53.8%	38.9%	39.6%	58.4%	54.3%	37.0%	22.1%	11.1%	8.1%	26.2%	27.8%	29.7%	21.2%	12.4%	4.4%	4.6%
Current ratio	1.75	1.82	1.35	1.25	1.47	0.95	0.96	0.73	0.47	0.51	0.80	0.78	0.68	0.74	0.46	0.47	0.86
Quick ratio	1.66	1.74	1.23	1.10	1.30	0.83	0.90	0.70	0.41	0.45	0.76	0.68	0.58	0.63	0.29	0.14	0.38
Debt to equity	1.06	0.86	1.57	1.52	0.71	0.84	1.70	3.53	7.99	11.36	2.81	2.60	2.36	3.71	7.07	21.53	20.61
ROE	32.6%	38.0%	8.0%	3.3%	12.9%	-46.4%	86.9%	147.2%	319.2%	378.1%	95.8%	99.1%	48.9%	71.2%	32.9%	-9.6%	52.8%
ROA	15.9%	20.5%	3.1%	1.3%	7.5%	-25.2%	32.1%	32.5%	35.5%	30.6%	25.1%	27.5%	14.5%	15.1%	4.1%	-0.4%	2.4%
Interest coverage	33.04	34.31	20.00	13.40	43.30	-	-	-	-	-	-	-	-	-	-	-	-

Item	31-12-2025	31-12-2024	31-12-2023	31-12-2022	31-12-2021
Employees at the balance-sheet date	21	15	17	22	18
full-time	1	4	1	-	-
part-time	20	11	16	22	18
in full-time equivalents	13.3	9.8	12.3	11.8	9.5
Average over the year, in full-time equivalents	11.5	11.3	12.3	9.9	7.1
On a permanent contract	4	4	5	3	3
Joined	46	43	101	-	-
Left	42	39	106	-	-

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€18,791	-	€19,932	€245,572	€9,627
Financial fixed assets	-	€11,716	-	-	-
Depreciation and write-downs of the year	€36,997	€70,760	€92,290	€85,759	€50,438

ONRG

Annual accounts 2025

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency48.6%

Current ratio1.75

Return on assets15.9%

Staff

Staff cost per FTE€24,053

Joined and left+4

Filed annual accounts

Filings

Key figures and ratios

Social balance sheet

Investments

Insights on ONRG

Next steps