C. Van Orshoven: 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.
C. Van Orshoven
Largest movements
- Cash +€232,522
up €232,522 (+203%), from €114,786 to €347,308
mainly Current investments (+€200,000) and Other debts (+€120,282)
- Current investments -€200,000
down €200,000 (-100%), from €200,000 to €0
- Deferred charges and accrued income +€4,276
up €4,276 (+32.3%), from €13,227 to €17,503
- Other debts +€120,282
up €120,282 (+219%), from €54,886 to €175,168
- Reserves -€103,092
down €103,092 (-39.3%), from €262,178 to €159,087
- Tax, wage and social debts +€24,457
up €24,457 (+202%), from €12,104 to €36,562
- Gross operating margin -€18,949
down €18,949 (-13.9%), from €136,327 to €117,378
- Taxes -€3,390
down €3,390 (-10.5%), from €32,223 to €28,833
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 | €335,801 | €374,427 | +€38,626 | +11.5% |
| Fixed assets | 21/28 | €6,359 | €9,617 | +€3,258 | +51.2% |
| Tangible fixed assets | 22/27 | €6,359 | €9,617 | +€3,258 | +51.2% |
| Plant, machinery and equipment | 23 | - | €4,561 | +€4,561 | |
| Furniture and vehicles | 24 | €4,743 | €3,561 | -€1,182 | -24.9% |
| Other tangible fixed assets | 26 | €1,616 | €1,495 | -€121 | -7.5% |
| Current assets | 29/58 | €329,443 | €364,810 | +€35,368 | +10.7% |
| Amounts receivable within one year | 40/41 | €1,430 | €0 | -€1,430 | -100% |
| Trade receivables | 40 | €1,430 | €0 | -€1,430 | -100% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €200,000 | €0 | -€200,000 | -100% |
| Cash at bank and in hand | 54/58 | €114,786 | €347,308 | +€232,522 | +203% |
| Deferred charges and accrued income | 490/1 | €13,227 | €17,503 | +€4,276 | +32.3% |
| Total equity and liabilities | 10/49 | €335,801 | €374,427 | +€38,626 | +11.5% |
| Equity | 10/15 | €265,178 | €162,087 | -€103,092 | -38.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €262,178 | €159,087 | -€103,092 | -39.3% |
| Distributable reserves | 133 | €262,178 | €159,087 | -€103,092 | -39.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €70,623 | €212,340 | +€141,717 | +201% |
| Amounts payable within one year | 42/48 | €69,938 | €212,340 | +€142,402 | +204% |
| Trade debts | 44 | €2,948 | €611 | -€2,337 | -79.3% |
| Suppliers | 440/4 | €2,948 | €611 | -€2,337 | -79.3% |
| Taxes, remuneration and social security | 45 | €12,104 | €36,562 | +€24,457 | +202% |
| Taxes | 450/3 | €12,104 | €36,562 | +€24,457 | +202% |
| Other amounts payable | 47/48 | €54,886 | €175,168 | +€120,282 | +219% |
| Accrued charges and deferred income | 492/3 | €685 | €0 | -€685 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,286 | €1,932 | +€646 | +50.2% |
| Other operating charges | 640/8 | €451 | €465 | +€14 | +3.2% |
| Non-recurring operating charges | 66A | €223 | €0 | -€223 | -100% |
| Gross operating margin | 9900 | €136,327 | €117,378 | -€18,949 | -13.9% |
| Operating profit (loss) | 9901 | €134,367 | €114,980 | -€19,386 | -14.4% |
| Financial income | 75/76B | €2,369 | €1,110 | -€1,259 | -53.2% |
| Recurring financial income | 75 | €2,369 | €1,110 | -€1,259 | -53.2% |
| Financial charges | 65/66B | €1,421 | €1,451 | +€30 | +2.1% |
| Recurring financial charges | 65 | €1,421 | €1,451 | +€30 | +2.1% |
| Profit (loss) for the period before taxes | 9903 | €135,314 | €114,639 | -€20,676 | -15.3% |
| Income taxes | 67/77 | €32,223 | €28,833 | -€3,390 | -10.5% |
| Profit (loss) for the period | 9904 | €103,092 | €85,806 | -€17,285 | -16.8% |
| Profit (loss) for the period to be appropriated | 9905 | €103,092 | €85,806 | -€17,285 | -16.8% |
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 24 October 2026 via checked.be.