ORAC: 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
ORAC
NACE 22.240, Manufacture of rubber and plastic products
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€3.4m
2024 · €2.9m+€529,172
Equity
€5.0m
2024 · €3.1m+€1.9m
Cash
€2.7m
2024 · €1.5m+€1.3m
Balance sheet total
€23.1m
2024 · €20.9m+€2.2m
Largest movements
Assets
- Receivables within one year -€3.0m
down €3.0m (-37.0%), from €8.2m to €5.2m
of which Other amounts receivable: -€1.8m
- Current investments +€2.5m
up €2.5m (+192.1%), from €1.3m to €3.9m
- Financial fixed assets +€2.1m
up €2.1m (+10238.2%), from €20,605 to €2.1m
of which Affiliated companies: +€2.1m
- Cash +€1.3m
up €1.3m (+84.3%), from €1.5m to €2.7m
mainly Net result for the year (+€3.4m) and Receivables within one year (+€3.0m)
- Tangible fixed assets -€505,695
down €505,695 (-15.7%), from €3.2m to €2.7m
of which Plant, machinery and equipment: -€538,515
Equity and liabilities
- Reserves +€1.9m
up €1.9m (+64.8%), from €3.0m to €4.9m
of which Distributable reserves: +€2.0m
- Debts after one year -€1.3m
down €1.3m (-16.6%), from €8.1m to €6.8m
- Trade debts +€678,461
up €678,461 (+15.5%), from €4.4m to €5.1m
- Other debts +€426,077
up €426,077 (+33.5%), from €1.3m to €1.7m
Income statement
- Services and other goods +€2.9m
up €2.9m (+11.5%), from €24.9m to €27.8m
- Turnover +€2.3m
up €2.3m (+4.0%), from €57.3m to €59.6m
- Goods and materials -€2.0m
down €2.0m (-10.0%), from €20.1m to €18.1m
of which Purchases: -€1.9m
- Staff costs +€811,454
up €811,454 (+12.4%), from €6.6m to €7.4m
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
€2.9m
Turnover
+€2.3m
Other operating income
+€75,945
Goods and materials
+€2.0m
Services and other goods
-€2.9m
Staff costs
-€811,454
Depreciation
+€154,159
Write-downs
-€300,088
Provisions
-€99,326
Other operating charges
+€40,084
Other operating items
-€11,104
Financial income
+€47,521
Financial charges
+€38,750
Taxes
-€57,641
Deferred taxes and other
-€3,115
Result 2025
€3.4m
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.
From operations
+€10.2m
Investment
-€6.2m
Financing
-€2.7m
Cash 2024
€1.5m
From operations (derived)
+€10.2m
Net result for the year
+€3.4m
Depreciation
+€2.3m
Receivables after one year
+€215,875
Stocks and contracts
-€339,901
Receivables within one year
+€3.0m
Deferred charges and accrued income
+€58,089
Provisions
+€202,424
Trade debts
+€678,461
Tax, wage and social debts
+€153,396
Advances received
+€18,402
Other debts
+€426,077
Accrued charges and deferred income
+€48,675
Investment (derived)
-€6.2m
Investment in fixed assets (net)
-€3.7m
Current investments
-€2.5m
Financing
-€2.7m
Debts after one year
-€1.3m
Current portion of long-term debt
+€104,272
Contributions, distributions and other
-€1.5m
Cash 2025
€2.7m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €20,935,305 | €23,137,358 | +€2.2m | +10.5% |
| Fixed assets | 21/28 | €5,123,708 | €6,504,734 | +€1.4m | +27.0% |
| Intangible fixed assets | 21 | €1,883,925 | €1,661,074 | -€222,851 | -11.8% |
| Tangible fixed assets | 22/27 | €3,219,178 | €2,713,483 | -€505,695 | -15.7% |
| Plant, machinery and equipment | 23 | €1,985,382 | €1,446,867 | -€538,515 | -27.1% |
| Furniture and vehicles | 24 | €278,129 | €242,017 | -€36,112 | -13.0% |
| Other tangible fixed assets | 26 | €790,785 | €1,024,599 | +€233,814 | +29.6% |
| Assets under construction and advance payments | 27 | €164,882 | - | -€164,882 | |
| Financial fixed assets | 28 | €20,605 | €2,130,177 | +€2.1m | +10238.2% |
| Affiliated companies | 280/1 | - | €2,115,971 | +€2.1m | |
| Participating interests | 280 | - | €2,115,971 | +€2.1m | |
| Other financial fixed assets | 284/8 | €20,605 | €14,206 | -€6,399 | -31.1% |
| Amounts receivable and cash guarantees | 285/8 | €20,605 | €14,206 | -€6,399 | -31.1% |
| Current assets | 29/58 | €15,811,597 | €16,632,624 | +€821,027 | +5.2% |
| Amounts receivable after more than one year | 29 | €1,192,840 | €976,965 | -€215,875 | -18.1% |
| Other amounts receivable | 291 | €1,192,840 | €976,965 | -€215,875 | -18.1% |
| Stocks and contracts in progress | 3 | €3,377,939 | €3,717,840 | +€339,901 | +10.1% |
| Stocks | 30/36 | €3,377,939 | €3,717,840 | +€339,901 | +10.1% |
| Raw materials and consumables | 30/31 | €603,637 | €664,096 | +€60,459 | +10.0% |
| Work in progress | 32 | €322,842 | €344,827 | +€21,985 | +6.8% |
| Finished goods | 33 | €2,138,523 | €2,316,363 | +€177,840 | +8.3% |
| Goods purchased for resale | 34 | €312,937 | €392,554 | +€79,617 | +25.4% |
| Amounts receivable within one year | 40/41 | €8,236,867 | €5,192,172 | -€3.0m | -37.0% |
| Trade receivables | 40 | €5,527,679 | €4,260,302 | -€1.3m | -22.9% |
| Other amounts receivable | 41 | €2,709,188 | €931,870 | -€1.8m | -65.6% |
| Current investments | 50/53 | €1,325,000 | €3,870,000 | +€2.5m | +192.1% |
| Other investments | 51/53 | €1,325,000 | €3,870,000 | +€2.5m | +192.1% |
| Cash at bank and in hand | 54/58 | €1,488,426 | €2,743,211 | +€1.3m | +84.3% |
| Deferred charges and accrued income | 490/1 | €190,525 | €132,436 | -€58,089 | -30.5% |
| Total equity and liabilities | 10/49 | €20,935,305 | €23,137,358 | +€2.2m | +10.5% |
| Equity | 10/15 | €3,088,606 | €5,006,284 | +€1.9m | +62.1% |
| Contributions | 10/11 | €130,474 | €130,474 | = | 0.0% |
| Capital | 10 | €130,466 | €130,466 | = | 0.0% |
| Issued capital | 100 | €130,466 | €130,466 | = | 0.0% |
| Contributions outside capital | 11 | €8 | €8 | = | 0.0% |
| Share premium | 1100/10 | €8 | €8 | = | 0.0% |
| Reserves | 13 | €2,958,132 | €4,875,810 | +€1.9m | +64.8% |
| Non-distributable reserves | 130/1 | €13,047 | €13,047 | = | 0.0% |
| Legal reserve | 130 | €13,047 | €13,047 | = | 0.0% |
| Tax-exempt reserves | 132 | €115,993 | €49,228 | -€66,765 | -57.6% |
| Distributable reserves | 133 | €2,829,092 | €4,813,535 | +€2.0m | +70.1% |
| Provisions and deferred taxes | 16 | €425,876 | €628,300 | +€202,424 | +47.5% |
| Provisions for liabilities and charges | 160/5 | €410,352 | €628,300 | +€217,948 | +53.1% |
| Pensions and similar obligations | 160 | €23,791 | €23,791 | = | 0.0% |
| Other liabilities and charges | 164/5 | €386,561 | €604,509 | +€217,948 | +56.4% |
| Deferred taxes | 168 | €15,524 | - | -€15,524 | |
| Amounts payable | 17/49 | €17,420,823 | €17,502,774 | +€81,951 | +0.5% |
| Amounts payable after more than one year | 17 | €8,108,403 | €6,761,071 | -€1.3m | -16.6% |
| Financial debts | 170/4 | €8,108,403 | €6,761,071 | -€1.3m | -16.6% |
| Credit institutions | 173 | €8,108,403 | €6,761,071 | -€1.3m | -16.6% |
| Amounts payable within one year | 42/48 | €9,305,614 | €10,686,222 | +€1.4m | +14.8% |
| Current portion of amounts payable after more than one year | 42 | €2,179,330 | €2,283,602 | +€104,272 | +4.8% |
| Trade debts | 44 | €4,382,284 | €5,060,745 | +€678,461 | +15.5% |
| Suppliers | 440/4 | €4,382,284 | €5,060,745 | +€678,461 | +15.5% |
| Advances received on contracts in progress | 46 | €24,501 | €42,903 | +€18,402 | +75.1% |
| Taxes, remuneration and social security | 45 | €1,447,334 | €1,600,730 | +€153,396 | +10.6% |
| Taxes | 450/3 | €356,306 | €551,402 | +€195,096 | +54.8% |
| Remuneration and social security | 454/9 | €1,091,028 | €1,049,328 | -€41,700 | -3.8% |
| Other amounts payable | 47/48 | €1,272,165 | €1,698,242 | +€426,077 | +33.5% |
| Accrued charges and deferred income | 492/3 | €6,806 | €55,481 | +€48,675 | +715.2% |
| Operating income | 70/76A | €57,881,409 | €60,241,694 | +€2.4m | +4.1% |
| Turnover | 70 | €57,258,200 | €59,551,285 | +€2.3m | +4.0% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €185,645 | €186,000 | +€355 | +0.2% |
| Other operating income | 74 | €428,464 | €504,409 | +€75,945 | +17.7% |
| Non-recurring operating income | 76A | €9,100 | - | -€9,100 | |
| Operating charges | 60/66A | €54,243,873 | €56,100,501 | +€1.9m | +3.4% |
| Goods for resale, raw materials and consumables | 60 | €20,093,053 | €18,075,598 | -€2.0m | -10.0% |
| Purchases | 600/8 | €20,102,181 | €18,240,265 | -€1.9m | -9.3% |
| Change in stocks: decrease (increase) | 609 | -€9,128 | -€164,667 | -€155,539 | -1704.0% |
| Services and other goods | 61 | €24,929,122 | €27,784,221 | +€2.9m | +11.5% |
| Remuneration, social security and pensions | 62 | €6,566,669 | €7,378,123 | +€811,454 | +12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,436,710 | €2,282,551 | -€154,159 | -6.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€170,282 | €129,806 | +€300,088 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €118,622 | €217,948 | +€99,326 | +83.7% |
| Other operating charges | 640/8 | €268,761 | €228,677 | -€40,084 | -14.9% |
| Non-recurring operating charges | 66A | €1,218 | €3,577 | +€2,359 | +193.7% |
| Operating profit (loss) | 9901 | €3,637,536 | €4,141,193 | +€503,657 | +13.8% |
| Financial income | 75/76B | €369,253 | €416,774 | +€47,521 | +12.9% |
| Recurring financial income | 75 | €369,253 | €416,774 | +€47,521 | +12.9% |
| Income from current assets | 751 | €186,708 | €219,176 | +€32,468 | +17.4% |
| Other financial income | 752/9 | €182,545 | €197,598 | +€15,053 | +8.2% |
| Financial charges | 65/66B | €849,654 | €810,904 | -€38,750 | -4.6% |
| Recurring financial charges | 65 | €849,654 | €810,904 | -€38,750 | -4.6% |
| Debt charges | 650 | €477,256 | €308,877 | -€168,379 | -35.3% |
| Other financial charges | 652/9 | €372,398 | €502,027 | +€129,629 | +34.8% |
| Profit (loss) for the period before taxes | 9903 | €3,157,135 | €3,747,063 | +€589,928 | +18.7% |
| Transfer from deferred taxes | 780 | €18,639 | €15,524 | -€3,115 | -16.7% |
| Income taxes | 67/77 | €317,955 | €375,596 | +€57,641 | +18.1% |
| Taxes | 670/3 | €323,688 | €375,596 | +€51,908 | +16.0% |
| Tax adjustments and reversals of tax provisions | 77 | €5,733 | - | -€5,733 | |
| Profit (loss) for the period | 9904 | €2,857,819 | €3,386,991 | +€529,172 | +18.5% |
| Transfer from tax-exempt reserves | 789 | €76,112 | €66,765 | -€9,347 | -12.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,933,931 | €3,453,756 | +€519,825 | +17.7% |
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 10 October 2026 via checked.be.