Orange Hat: 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.
Orange Hat
Largest movements
- Tangible fixed assets -€29,742
down €29,742 (-27.1%), from €109,930 to €80,188
of which Leasing and similar rights: -€28,800
- Deferred charges and accrued income -€17,214
down €17,214 (-73.3%), from €23,479 to €6,266
- Receivables within one year -€15,568
down €15,568 (-27.5%), from €56,533 to €40,965
of which Trade receivables: -€12,344
- Cash +€3,318
up €3,318 (+23.9%), from €13,863 to €17,181
mainly Depreciation (+€29,742) and Deferred charges and accrued income (+€17,214)
- Stocks and contracts -€2,568
down €2,568 (-39.1%), from €6,571 to €4,003
- Trade debts -€46,988
down €46,988 (-59.3%), from €79,191 to €32,203
- Debts after one year -€28,800
down €28,800 (-28.4%), from €101,400 to €72,600
- Profit (loss) carried forward +€10,744
up €10,744 (+30.5%), from -€35,272 to -€24,528
- Accrued charges and deferred income +€2,695
up €2,695 (+217.5%), from €1,239 to €3,935
- Current portion of long-term debt +€2,400
up €2,400 (+8.3%), from €28,800 to €31,200
- Gross operating margin +€40,262
up €40,262 (+25.6%), from €157,102 to €197,364
- Staff costs -€10,202
down €10,202 (-6.4%), from €159,998 to €149,796
- Other operating charges +€2,681
up €2,681 (+175.4%), from €1,528 to €4,210
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 | €218,121 | €156,347 | -€61,774 | -28.3% |
| Fixed assets | 21/28 | €117,674 | €87,932 | -€29,742 | -25.3% |
| Tangible fixed assets | 22/27 | €109,930 | €80,188 | -€29,742 | -27.1% |
| Furniture and vehicles | 24 | €1,969 | €1,027 | -€942 | -47.8% |
| Leasing and similar rights | 25 | €107,961 | €79,161 | -€28,800 | -26.7% |
| Financial fixed assets | 28 | €7,745 | €7,745 | = | 0.0% |
| Current assets | 29/58 | €100,447 | €68,415 | -€32,032 | -31.9% |
| Stocks and contracts in progress | 3 | €6,571 | €4,003 | -€2,568 | -39.1% |
| Stocks | 30/36 | €6,571 | €4,003 | -€2,568 | -39.1% |
| Amounts receivable within one year | 40/41 | €56,533 | €40,965 | -€15,568 | -27.5% |
| Trade receivables | 40 | €47,979 | €35,635 | -€12,344 | -25.7% |
| Other amounts receivable | 41 | €8,555 | €5,330 | -€3,224 | -37.7% |
| Cash at bank and in hand | 54/58 | €13,863 | €17,181 | +€3,318 | +23.9% |
| Deferred charges and accrued income | 490/1 | €23,479 | €6,266 | -€17,214 | -73.3% |
| Total equity and liabilities | 10/49 | €218,121 | €156,347 | -€61,774 | -28.3% |
| Equity | 10/15 | -€30,272 | -€19,528 | +€10,744 | +35.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€35,272 | -€24,528 | +€10,744 | +30.5% |
| Amounts payable | 17/49 | €248,393 | €175,874 | -€72,518 | -29.2% |
| Amounts payable after more than one year | 17 | €101,400 | €72,600 | -€28,800 | -28.4% |
| Financial debts | 170/4 | €101,400 | €72,600 | -€28,800 | -28.4% |
| Amounts payable within one year | 42/48 | €145,753 | €99,340 | -€46,413 | -31.8% |
| Current portion of amounts payable after more than one year | 42 | €28,800 | €31,200 | +€2,400 | +8.3% |
| Trade debts | 44 | €79,191 | €32,203 | -€46,988 | -59.3% |
| Suppliers | 440/4 | €79,191 | €32,203 | -€46,988 | -59.3% |
| Taxes, remuneration and social security | 45 | €15,797 | €13,872 | -€1,925 | -12.2% |
| Taxes | 450/3 | €2,820 | €4,981 | +€2,161 | +76.6% |
| Remuneration and social security | 454/9 | €12,978 | €8,891 | -€4,086 | -31.5% |
| Other amounts payable | 47/48 | €21,965 | €22,065 | +€100 | +0.5% |
| Accrued charges and deferred income | 492/3 | €1,239 | €3,935 | +€2,695 | +217.5% |
| Remuneration, social security and pensions | 62 | €159,998 | €149,796 | -€10,202 | -6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,657 | €29,742 | +€85 | +0.3% |
| Other operating charges | 640/8 | €1,528 | €4,210 | +€2,681 | +175.4% |
| Gross operating margin | 9900 | €157,102 | €197,364 | +€40,262 | +25.6% |
| Operating profit (loss) | 9901 | -€34,082 | €13,616 | +€47,698 | |
| Financial income | 75/76B | €17 | €398 | +€381 | +2293.1% |
| Recurring financial income | 75 | €17 | €398 | +€381 | +2293.1% |
| Financial charges | 65/66B | €4,310 | €3,188 | -€1,123 | -26.0% |
| Recurring financial charges | 65 | €4,310 | €3,188 | -€1,123 | -26.0% |
| Profit (loss) for the period before taxes | 9903 | -€38,376 | €10,827 | +€49,202 | |
| Income taxes | 67/77 | €66 | €83 | +€16 | +24.2% |
| Profit (loss) for the period | 9904 | -€38,442 | €10,744 | +€49,186 | |
| Profit (loss) for the period to be appropriated | 9905 | -€38,442 | €10,744 | +€49,186 |
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 9 October 2026 via checked.be.