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.
What changed
ORA
NACE 68.310, Real estate agency activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€159,639
2024 · €77,313+€82,326
Equity
€1.9m
2024 · €1.8m+€639
Cash
€2,968
2024 · €4,627-€1,660
Balance sheet total
€6.3m
2024 · €6.2m+€140,296
Largest movements
Assets
- Receivables after one year +€1.8m
new in 2025: €1.8m
- Financial fixed assets -€1.8m
down €1.8m (-50.1%), from €3.6m to €1.8m
- Stocks and contracts -€286,356
no longer reported in 2025 (was €286,356)
- Tangible fixed assets +€245,609
up €245,609 (+18.6%), from €1.3m to €1.6m
of which Land and buildings: +€255,916
- Receivables within one year +€167,597
up €167,597 (+17.7%), from €948,014 to €1.1m
of which Trade receivables: +€198,150
Equity and liabilities
- Other debts +€186,799
up €186,799 (+16.1%), from €1.2m to €1.3m
Income statement
- Gross operating margin +€78,483
up €78,483 (+32.5%), from €241,366 to €319,848
- Financial charges -€13,526
down €13,526 (-10.1%), from €133,267 to €119,742
- Depreciation +€8,285
up €8,285 (+24.2%), from €34,243 to €42,528
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.
Result 2024
€77,313
Gross operating margin
+€78,483
Depreciation
-€8,285
Provisions
+€248
Other operating charges
-€2,249
Financial charges
+€13,526
Taxes
+€604
Result 2025
€159,639
raises the resultlowers the result
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.
From operations
-€1.4m
Investment
+€1.5m
Financing
-€146,005
Cash 2024
€4,627
From operations (derived)
-€1.4m
Net result for the year
+€159,639
Depreciation
+€42,528
Receivables after one year
-€1.8m
Stocks and contracts
+€286,356
Receivables within one year
-€167,597
Deferred charges and accrued income
+€13,245
Provisions
-€10,585
Trade debts
-€56,232
Tax, wage and social debts
+€9,630
Other debts
+€186,799
Accrued charges and deferred income
-€2,950
Investment (derived)
+€1.5m
Investment in fixed assets (net)
+€1.5m
Financing
-€146,005
Debts after one year
+€8,186
Current portion of long-term debt
+€4,809
Contributions, distributions and other
-€159,000
Cash 2025
€2,968
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,158,229 | €6,298,525 | +€140,296 | +2.3% |
| Fixed assets | 21/28 | €4,905,986 | €3,353,404 | -€1.6m | -31.6% |
| Tangible fixed assets | 22/27 | €1,317,374 | €1,562,983 | +€245,609 | +18.6% |
| Land and buildings | 22 | €1,218,869 | €1,474,786 | +€255,916 | +21.0% |
| Plant, machinery and equipment | 23 | €16,785 | €16,121 | -€665 | -4.0% |
| Furniture and vehicles | 24 | €73,505 | €65,484 | -€8,021 | -10.9% |
| Other tangible fixed assets | 26 | €8,214 | €6,593 | -€1,621 | -19.7% |
| Financial fixed assets | 28 | €3,588,612 | €1,790,421 | -€1.8m | -50.1% |
| Current assets | 29/58 | €1,252,243 | €2,945,121 | +€1.7m | +135% |
| Amounts receivable after more than one year | 29 | - | €1,826,542 | +€1.8m | |
| Trade receivables | 290 | - | €1,826,542 | +€1.8m | |
| Stocks and contracts in progress | 3 | €286,356 | - | -€286,356 | |
| Stocks | 30/36 | €286,356 | - | -€286,356 | |
| Amounts receivable within one year | 40/41 | €948,014 | €1,115,612 | +€167,597 | +17.7% |
| Trade receivables | 40 | €395,815 | €593,965 | +€198,150 | +50.1% |
| Other amounts receivable | 41 | €552,199 | €521,647 | -€30,553 | -5.5% |
| Cash at bank and in hand | 54/58 | €4,627 | €2,968 | -€1,660 | -35.9% |
| Deferred charges and accrued income | 490/1 | €13,245 | - | -€13,245 | |
| Total equity and liabilities | 10/49 | €6,158,229 | €6,298,525 | +€140,296 | +2.3% |
| Equity | 10/15 | €1,849,961 | €1,850,600 | +€639 | 0.0% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Revaluation surpluses | 12 | €481,000 | €481,000 | = | 0.0% |
| Reserves | 13 | €1,299,367 | €1,299,367 | = | 0.0% |
| Distributable reserves | 133 | €1,299,367 | €1,299,367 | = | 0.0% |
| Profit (loss) carried forward | 14 | €61,534 | €62,173 | +€639 | +1.0% |
| Provisions and deferred taxes | 16 | €1,393,890 | €1,383,305 | -€10,585 | -0.8% |
| Provisions for liabilities and charges | 160/5 | €1,393,890 | €1,383,305 | -€10,585 | -0.8% |
| Other liabilities and charges | 164/5 | €1,393,890 | €1,383,305 | -€10,585 | -0.8% |
| Amounts payable | 17/49 | €2,914,378 | €3,064,620 | +€150,241 | +5.2% |
| Amounts payable after more than one year | 17 | €1,528,092 | €1,536,278 | +€8,186 | +0.5% |
| Financial debts | 170/4 | €931,066 | €801,021 | -€130,044 | -14.0% |
| Other amounts payable | 178/9 | €597,027 | €735,257 | +€138,230 | +23.2% |
| Amounts payable within one year | 42/48 | €1,383,336 | €1,528,342 | +€145,006 | +10.5% |
| Current portion of amounts payable after more than one year | 42 | €127,852 | €132,661 | +€4,809 | +3.8% |
| Trade debts | 44 | €78,173 | €21,941 | -€56,232 | -71.9% |
| Suppliers | 440/4 | €78,173 | €21,941 | -€56,232 | -71.9% |
| Taxes, remuneration and social security | 45 | €14,635 | €24,265 | +€9,630 | +65.8% |
| Taxes | 450/3 | €14,635 | €24,265 | +€9,630 | +65.8% |
| Other amounts payable | 47/48 | €1,162,676 | €1,349,475 | +€186,799 | +16.1% |
| Accrued charges and deferred income | 492/3 | €2,950 | - | -€2,950 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,243 | €42,528 | +€8,285 | +24.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€10,337 | -€10,585 | -€248 | -2.4% |
| Other operating charges | 640/8 | €6,013 | €8,262 | +€2,249 | +37.4% |
| Gross operating margin | 9900 | €241,366 | €319,848 | +€78,483 | +32.5% |
| Operating profit (loss) | 9901 | €211,446 | €279,643 | +€68,197 | +32.3% |
| Financial charges | 65/66B | €133,267 | €119,742 | -€13,526 | -10.1% |
| Recurring financial charges | 65 | €133,267 | €119,742 | -€13,526 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | €78,179 | €159,901 | +€81,723 | +105% |
| Income taxes | 67/77 | €866 | €262 | -€604 | -69.7% |
| Profit (loss) for the period | 9904 | €77,313 | €159,639 | +€82,326 | +106% |
| Profit (loss) for the period to be appropriated | 9905 | €77,313 | €159,639 | +€82,326 | +106% |
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 15 October 2026 via checked.be.