NEW ORCQ: what changed
What changed
NEW ORCQ
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€202,931
2024 · €106,841+€96,090
Equity
€707,933
2024 · €542,001+€165,931
Cash
€71,530
2024 · €14,496+€57,035
Balance sheet total
€1.1m
2024 · €989,980+€71,790
Largest movements
Assets
- Cash +€57,035
up €57,035 (+393%), from €14,496 to €71,530
mainly Net result for the year (+€202,931) and Other debts (+€57,090)
- Receivables within one year +€13,980
up €13,980 (+5.7%), from €246,527 to €260,507
of which Other amounts receivable: +€184,144
Equity and liabilities
- Reserves +€165,931
up €165,931 (+31.7%), from €523,401 to €689,333
- Trade debts -€80,090
down €80,090 (-96.2%), from €83,268 to €3,178
- Other debts +€57,090
up €57,090 (+149%), from €38,444 to €95,534
- Debts after one year -€45,816
down €45,816 (-20.1%), from €228,133 to €182,317
Income statement
- Gross operating margin +€130,707
up €130,707 (+57.0%), from €229,161 to €359,868
- Taxes -€25,852
down €25,852 (-62.5%), from €41,348 to €15,496
- Financial charges -€4,051
down €4,051 (-23.0%), from €17,625 to €13,573
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€106,841
Gross operating margin
+€130,707
Staff costs
-€3,567
Depreciation
+€444
Other operating charges
-€697
Other operating items
-€58,500
Financial income
-€2,201
Financial charges
+€4,051
Taxes
+€25,852
Result 2025
€202,931
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€155,383
Investment
+€16
Financing
-€98,364
Cash 2024
€14,496
From operations (derived)
+€155,383
Net result for the year
+€202,931
Depreciation
+€946
Receivables within one year
-€13,980
Deferred charges and accrued income
-€1,738
Trade debts
-€80,090
Tax, wage and social debts
-€9,561
Other debts
+€57,090
Accrued charges and deferred income
-€216
Investment (derived)
+€16
Investment in fixed assets (net)
+€16
Financing
-€98,364
Debts after one year
-€45,816
Current portion of long-term debt
-€8,772
Short-term financial debts
-€6,776
Contributions, distributions and other
-€37,000
Cash 2025
€71,530
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €989,980 | €1,061,770 | +€71,790 | +7.3% |
| Fixed assets | 21/28 | €423,512 | €422,550 | -€962 | -0.2% |
| Tangible fixed assets | 22/27 | €1,439 | €493 | -€946 | -65.7% |
| Plant, machinery and equipment | 23 | €1,439 | €493 | -€946 | -65.7% |
| Financial fixed assets | 28 | €422,073 | €422,057 | -€16 | 0.0% |
| Current assets | 29/58 | €566,468 | €639,220 | +€72,752 | +12.8% |
| Amounts receivable after more than one year | 29 | €300,000 | €300,000 | = | 0.0% |
| Other amounts receivable | 291 | €300,000 | €300,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €246,527 | €260,507 | +€13,980 | +5.7% |
| Trade receivables | 40 | €204,620 | €34,455 | -€170,165 | -83.2% |
| Other amounts receivable | 41 | €41,907 | €226,052 | +€184,144 | +439% |
| Cash at bank and in hand | 54/58 | €14,496 | €71,530 | +€57,035 | +393% |
| Deferred charges and accrued income | 490/1 | €5,445 | €7,183 | +€1,738 | +31.9% |
| Total equity and liabilities | 10/49 | €989,980 | €1,061,770 | +€71,790 | +7.3% |
| Equity | 10/15 | €542,001 | €707,933 | +€165,931 | +30.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €523,401 | €689,333 | +€165,931 | +31.7% |
| Distributable reserves | 133 | €523,401 | €689,333 | +€165,931 | +31.7% |
| Amounts payable | 17/49 | €447,978 | €353,837 | -€94,141 | -21.0% |
| Amounts payable after more than one year | 17 | €228,133 | €182,317 | -€45,816 | -20.1% |
| Financial debts | 170/4 | €228,133 | €182,317 | -€45,816 | -20.1% |
| Amounts payable within one year | 42/48 | €217,597 | €169,488 | -€48,109 | -22.1% |
| Current portion of amounts payable after more than one year | 42 | €54,588 | €45,816 | -€8,772 | -16.1% |
| Financial debts | 43 | €10,143 | €3,367 | -€6,776 | -66.8% |
| Credit institutions | 430/8 | €10,143 | €3,367 | -€6,776 | -66.8% |
| Trade debts | 44 | €83,268 | €3,178 | -€80,090 | -96.2% |
| Suppliers | 440/4 | €83,268 | €3,178 | -€80,090 | -96.2% |
| Taxes, remuneration and social security | 45 | €31,154 | €21,593 | -€9,561 | -30.7% |
| Taxes | 450/3 | €19,514 | €12,318 | -€7,196 | -36.9% |
| Remuneration and social security | 454/9 | €11,639 | €9,275 | -€2,365 | -20.3% |
| Other amounts payable | 47/48 | €38,444 | €95,534 | +€57,090 | +149% |
| Accrued charges and deferred income | 492/3 | €2,249 | €2,033 | -€216 | -9.6% |
| Remuneration, social security and pensions | 62 | €73,516 | €77,083 | +€3,567 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,390 | €946 | -€444 | -31.9% |
| Other operating charges | 640/8 | €3,491 | €4,188 | +€697 | +20.0% |
| Non-recurring operating charges | 66A | - | €58,500 | +€58,500 | |
| Gross operating margin | 9900 | €229,161 | €359,868 | +€130,707 | +57.0% |
| Operating profit (loss) | 9901 | €150,764 | €219,151 | +€68,387 | +45.4% |
| Financial income | 75/76B | €15,051 | €12,850 | -€2,201 | -14.6% |
| Recurring financial income | 75 | €15,051 | €12,850 | -€2,201 | -14.6% |
| Financial charges | 65/66B | €17,625 | €13,573 | -€4,051 | -23.0% |
| Recurring financial charges | 65 | €17,625 | €13,573 | -€4,051 | -23.0% |
| Profit (loss) for the period before taxes | 9903 | €148,190 | €218,428 | +€70,238 | +47.4% |
| Income taxes | 67/77 | €41,348 | €15,496 | -€25,852 | -62.5% |
| Profit (loss) for the period | 9904 | €106,841 | €202,931 | +€96,090 | +89.9% |
| Profit (loss) for the period to be appropriated | 9905 | €106,841 | €202,931 | +€96,090 | +89.9% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.