Blue Orca: 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.
Blue Orca
Largest movements
- Cash -€49,167
down €49,167 (-69.1%), from €71,110 to €21,943
mainly Contributions, distributions and other (-€166,000) and Tax, wage and social debts (-€1,349)
- Receivables within one year -€23,955
down €23,955 (-15.3%), from €156,694 to €132,740
of which Trade receivables: -€45,764
- Reserves -€73,020
down €73,020 (-43.8%), from €166,843 to €93,823
- Gross operating margin -€41,210
down €41,210 (-24.8%), from €166,192 to €124,981
- Taxes -€9,729
down €9,729 (-24.5%), from €39,647 to €29,918
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.
Cash bridge derived
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 | €229,817 | €156,195 | -€73,622 | -32.0% |
| Fixed assets | 21/28 | €1,152 | €629 | -€523 | -45.4% |
| Tangible fixed assets | 22/27 | €1,152 | €629 | -€523 | -45.4% |
| Furniture and vehicles | 24 | €1,152 | €629 | -€523 | -45.4% |
| Current assets | 29/58 | €228,665 | €155,566 | -€73,099 | -32.0% |
| Amounts receivable within one year | 40/41 | €156,694 | €132,740 | -€23,955 | -15.3% |
| Trade receivables | 40 | €146,666 | €100,902 | -€45,764 | -31.2% |
| Other amounts receivable | 41 | €10,028 | €31,837 | +€21,810 | +217.5% |
| Cash at bank and in hand | 54/58 | €71,110 | €21,943 | -€49,167 | -69.1% |
| Deferred charges and accrued income | 490/1 | €861 | €884 | +€22 | +2.6% |
| Total equity and liabilities | 10/49 | €229,817 | €156,195 | -€73,622 | -32.0% |
| Equity | 10/15 | €169,343 | €96,323 | -€73,020 | -43.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €166,843 | €93,823 | -€73,020 | -43.8% |
| Distributable reserves | 133 | €166,843 | €93,823 | -€73,020 | -43.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €60,474 | €59,872 | -€602 | -1.0% |
| Amounts payable within one year | 42/48 | €59,810 | €59,572 | -€238 | -0.4% |
| Trade debts | 44 | €2,263 | €3,373 | +€1,111 | +49.1% |
| Suppliers | 440/4 | €2,263 | €3,373 | +€1,111 | +49.1% |
| Taxes, remuneration and social security | 45 | €57,548 | €56,199 | -€1,349 | -2.3% |
| Taxes | 450/3 | €57,548 | €56,199 | -€1,349 | -2.3% |
| Accrued charges and deferred income | 492/3 | €664 | €300 | -€364 | -54.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €417 | €523 | +€106 | +25.4% |
| Other operating charges | 640/8 | €1,063 | €1,481 | +€418 | +39.3% |
| Gross operating margin | 9900 | €166,192 | €124,981 | -€41,210 | -24.8% |
| Operating profit (loss) | 9901 | €164,712 | €122,978 | -€41,734 | -25.3% |
| Financial income | 75/76B | €639 | €629 | -€11 | -1.7% |
| Recurring financial income | 75 | €639 | €629 | -€11 | -1.7% |
| Financial charges | 65/66B | €1,138 | €708 | -€429 | -37.7% |
| Recurring financial charges | 65 | €1,138 | €708 | -€429 | -37.7% |
| Profit (loss) for the period before taxes | 9903 | €164,213 | €122,898 | -€41,315 | -25.2% |
| Income taxes | 67/77 | €39,647 | €29,918 | -€9,729 | -24.5% |
| Profit (loss) for the period | 9904 | €124,566 | €92,980 | -€31,586 | -25.4% |
| Profit (loss) for the period to be appropriated | 9905 | €124,566 | €92,980 | -€31,586 | -25.4% |
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 11 October 2026 via checked.be.