AU-R-ORA: 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.
AU-R-ORA
Largest movements
- Cash -€370,113
down €370,113 (-34.7%), from €1.1m to €695,666
mainly Contributions, distributions and other (-€1.1m) and Current investments (-€99,512)
- Current investments +€99,512
up €99,512 (+19.6%), from €508,412 to €607,924
- Receivables within one year -€85,743
down €85,743 (-21.2%), from €405,301 to €319,558
of which Trade receivables: -€104,507
- Reserves -€416,489
down €416,489 (-39.5%), from €1.1m to €638,291
- Accrued charges and deferred income +€61,762
up €61,762 (+32,692%), from €189 to €61,951
- Other debts +€46,509
up €46,509 (+5.5%), from €850,035 to €896,544
- Trade debts -€29,985
down €29,985 (-98.3%), from €30,491 to €506
- Tax, wage and social debts -€24,615
down €24,615 (-48.9%), from €50,302 to €25,687
of which Taxes: -€24,615
- Financial charges +€174,329
up €174,329 (+1,796%), from €9,704 to €184,033
- Taxes +€54,122
up €54,122 (+19.8%), from €273,066 to €327,189
- Gross operating margin +€21,823
up €21,823 (+2.0%), from €1.1m to €1.1m
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 | €1,988,796 | €1,625,978 | -€362,818 | -18.2% |
| Fixed assets | 21/28 | €6,546 | €0 | -€6,546 | -100% |
| Tangible fixed assets | 22/27 | €6,546 | €0 | -€6,546 | -100% |
| Furniture and vehicles | 24 | €6,546 | €0 | -€6,546 | -100% |
| Current assets | 29/58 | €1,982,250 | €1,625,978 | -€356,271 | -18.0% |
| Amounts receivable within one year | 40/41 | €405,301 | €319,558 | -€85,743 | -21.2% |
| Trade receivables | 40 | €397,083 | €292,576 | -€104,507 | -26.3% |
| Other amounts receivable | 41 | €8,218 | €26,982 | +€18,764 | +228% |
| Current investments | 50/53 | €508,412 | €607,924 | +€99,512 | +19.6% |
| Cash at bank and in hand | 54/58 | €1,065,779 | €695,666 | -€370,113 | -34.7% |
| Deferred charges and accrued income | 490/1 | €2,759 | €2,830 | +€72 | +2.6% |
| Total equity and liabilities | 10/49 | €1,988,796 | €1,625,978 | -€362,818 | -18.2% |
| Equity | 10/15 | €1,057,780 | €641,291 | -€416,489 | -39.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €1,054,780 | €638,291 | -€416,489 | -39.5% |
| Distributable reserves | 133 | €1,054,780 | €638,291 | -€416,489 | -39.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €931,016 | €984,687 | +€53,671 | +5.8% |
| Amounts payable within one year | 42/48 | €930,827 | €922,736 | -€8,091 | -0.9% |
| Trade debts | 44 | €30,491 | €506 | -€29,985 | -98.3% |
| Suppliers | 440/4 | €30,491 | €506 | -€29,985 | -98.3% |
| Taxes, remuneration and social security | 45 | €50,302 | €25,687 | -€24,615 | -48.9% |
| Taxes | 450/3 | €43,602 | €18,987 | -€24,615 | -56.5% |
| Remuneration and social security | 454/9 | €6,700 | €6,700 | = | 0.0% |
| Other amounts payable | 47/48 | €850,035 | €896,544 | +€46,509 | +5.5% |
| Accrued charges and deferred income | 492/3 | €189 | €61,951 | +€61,762 | +32,692% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,218 | €6,546 | -€1,672 | -20.3% |
| Other operating charges | 640/8 | €2,618 | €1,245 | -€1,372 | -52.4% |
| Gross operating margin | 9900 | €1,089,718 | €1,111,542 | +€21,823 | +2.0% |
| Operating profit (loss) | 9901 | €1,078,883 | €1,103,750 | +€24,867 | +2.3% |
| Financial income | 75/76B | €48,216 | €45,763 | -€2,453 | -5.1% |
| Recurring financial income | 75 | €48,216 | €45,763 | -€2,453 | -5.1% |
| Financial charges | 65/66B | €9,704 | €184,033 | +€174,329 | +1,796% |
| Recurring financial charges | 65 | €9,704 | €184,033 | +€174,329 | +1,796% |
| Profit (loss) for the period before taxes | 9903 | €1,117,395 | €965,480 | -€151,915 | -13.6% |
| Income taxes | 67/77 | €273,066 | €327,189 | +€54,122 | +19.8% |
| Profit (loss) for the period | 9904 | €844,328 | €638,291 | -€206,037 | -24.4% |
| Profit (loss) for the period to be appropriated | 9905 | €844,328 | €638,291 | -€206,037 | -24.4% |
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 28 October 2026 via checked.be.