FISH ORCA: what changed
Two fiscal 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.
FISH ORCA
Largest movements
- Cash -€55,499
down €55,499 (-21.8%), from €254,157 to €198,658
mainly Receivables within one year (-€36,841) and Investment in fixed assets (net) (-€26,560)
- Receivables within one year +€36,841
up €36,841 (+23.0%), from €159,892 to €196,733
of which Trade receivables: +€22,631
- Tangible fixed assets +€18,757
up €18,757 (+283.5%), from €6,616 to €25,373
of which Furniture and vehicles: +€19,287
- Stocks and contracts +€5,398
up €5,398 (+25.0%), from €21,627 to €27,025
- Trade debts +€21,787
up €21,787 (+145.0%), from €15,022 to €36,809
- Tax, wage and social debts -€19,639
down €19,639 (-71.5%), from €27,463 to €7,824
- Staff costs +€17,230
up €17,230 (+54.8%), from €31,466 to €48,696
- Taxes -€17,144
down €17,144 (-50.2%), from €34,144 to €17,000
- Write-downs -€14,682
new in 2025: -€14,682
- Gross operating margin -€8,522
down €8,522 (-12.0%), from €70,894 to €62,372
- Depreciation +€5,876
up €5,876 (+304.9%), from €1,927 to €7,803
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 | €442,292 | €447,839 | +€5,547 | +1.3% |
| Fixed assets | 21/28 | €6,616 | €25,373 | +€18,757 | +283.5% |
| Tangible fixed assets | 22/27 | €6,616 | €25,373 | +€18,757 | +283.5% |
| Furniture and vehicles | 24 | €4,393 | €23,680 | +€19,287 | +439.0% |
| Other tangible fixed assets | 26 | €2,223 | €1,693 | -€530 | -23.8% |
| Current assets | 29/58 | €435,676 | €422,466 | -€13,210 | -3.0% |
| Stocks and contracts in progress | 3 | €21,627 | €27,025 | +€5,398 | +25.0% |
| Stocks | 30/36 | €21,627 | €27,025 | +€5,398 | +25.0% |
| Amounts receivable within one year | 40/41 | €159,892 | €196,733 | +€36,841 | +23.0% |
| Trade receivables | 40 | €154,654 | €177,285 | +€22,631 | +14.6% |
| Other amounts receivable | 41 | €5,238 | €19,448 | +€14,210 | +271.3% |
| Cash at bank and in hand | 54/58 | €254,157 | €198,658 | -€55,499 | -21.8% |
| Deferred charges and accrued income | 490/1 | - | €50 | +€50 | |
| Total equity and liabilities | 10/49 | €442,292 | €447,839 | +€5,547 | +1.3% |
| Equity | 10/15 | €399,807 | €401,917 | +€2,110 | +0.5% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €394,109 | €394,109 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,000 | €3,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €66,281 | €66,281 | = | 0.0% |
| Distributable reserves | 133 | €324,828 | €324,828 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,302 | -€22,192 | +€2,110 | +8.7% |
| Amounts payable | 17/49 | €42,485 | €45,922 | +€3,437 | +8.1% |
| Amounts payable within one year | 42/48 | €42,485 | €44,633 | +€2,148 | +5.1% |
| Trade debts | 44 | €15,022 | €36,809 | +€21,787 | +145.0% |
| Suppliers | 440/4 | €15,022 | €36,809 | +€21,787 | +145.0% |
| Taxes, remuneration and social security | 45 | €27,463 | €7,824 | -€19,639 | -71.5% |
| Taxes | 450/3 | €27,463 | €7,824 | -€19,639 | -71.5% |
| Accrued charges and deferred income | 492/3 | - | €1,289 | +€1,289 | |
| Remuneration, social security and pensions | 62 | €31,466 | €48,696 | +€17,230 | +54.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,927 | €7,803 | +€5,876 | +304.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€14,682 | -€14,682 | |
| Other operating charges | 640/8 | €237 | €253 | +€16 | +6.8% |
| Non-recurring operating charges | 66A | €37,900 | - | -€37,900 | |
| Gross operating margin | 9900 | €70,894 | €62,372 | -€8,522 | -12.0% |
| Operating profit (loss) | 9901 | -€636 | €20,302 | +€20,938 | |
| Financial income | 75/76B | €17 | - | -€17 | |
| Recurring financial income | 75 | €17 | - | -€17 | |
| Financial charges | 65/66B | €1,408 | €1,192 | -€216 | -15.3% |
| Recurring financial charges | 65 | €1,408 | €1,192 | -€216 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | -€2,027 | €19,110 | +€21,137 | |
| Income taxes | 67/77 | €34,144 | €17,000 | -€17,144 | -50.2% |
| Profit (loss) for the period | 9904 | -€36,171 | €2,110 | +€38,281 | |
| Profit (loss) for the period to be appropriated | 9905 | -€36,171 | €2,110 | +€38,281 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.