ORAZIO: 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.
ORAZIO
Largest movements
- Tangible fixed assets -€13,107
down €13,107 (-71.9%), from €18,236 to €5,129
of which Furniture and vehicles: -€12,603
- Cash +€6,826
up €6,826 (+65.6%), from €10,410 to €17,236
mainly Other debts (+€25,055) and Short-term financial debts (+€12,000)
- Intangible fixed assets -€5,015
down €5,015 (-15.1%), from €33,298 to €28,283
- Trade debts -€37,890
down €37,890 (-51.3%), from €73,893 to €36,004
- Other debts +€25,055
up €25,055 (+148%), from €16,962 to €42,016
- Short-term financial debts +€12,000
up €12,000, from €0 to €12,000
- Profit (loss) carried forward -€10,590
down €10,590 (-64.7%), from €16,362 to €5,772
- Tax, wage and social debts -€1,473
down €1,473 (-100%), from €1,473 to €0
of which Taxes: -€1,443
- Gross operating margin +€20,230
up €20,230 (+120%), from €16,793 to €37,023
- Depreciation -€1,603
down €1,603 (-19.6%), from €8,179 to €6,577
- Other operating charges +€714
up €714 (+52.9%), from €1,350 to €2,063
- Financial income +€405
up €405 (+1,939%), from €21 to €426
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €128,463 | €115,565 | -€12,898 | -10.0% |
| Fixed assets | 21/28 | €54,334 | €36,212 | -€18,122 | -33.4% |
| Intangible fixed assets | 21 | €33,298 | €28,283 | -€5,015 | -15.1% |
| Tangible fixed assets | 22/27 | €18,236 | €5,129 | -€13,107 | -71.9% |
| Furniture and vehicles | 24 | €16,122 | €3,519 | -€12,603 | -78.2% |
| Other tangible fixed assets | 26 | €2,114 | €1,610 | -€504 | -23.8% |
| Financial fixed assets | 28 | €2,800 | €2,800 | = | 0.0% |
| Current assets | 29/58 | €74,129 | €79,353 | +€5,224 | +7.0% |
| Stocks and contracts in progress | 3 | €5,120 | €5,120 | = | 0.0% |
| Stocks | 30/36 | €5,120 | €5,120 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €57,397 | €56,147 | -€1,250 | -2.2% |
| Trade receivables | 40 | €48,700 | €44,012 | -€4,688 | -9.6% |
| Other amounts receivable | 41 | €8,697 | €12,135 | +€3,438 | +39.5% |
| Cash at bank and in hand | 54/58 | €10,410 | €17,236 | +€6,826 | +65.6% |
| Deferred charges and accrued income | 490/1 | €1,202 | €850 | -€351 | -29.2% |
| Total equity and liabilities | 10/49 | €128,463 | €115,565 | -€12,898 | -10.0% |
| Equity | 10/15 | €36,135 | €25,545 | -€10,590 | -29.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,173 | €1,173 | = | 0.0% |
| Distributable reserves | 133 | €1,173 | €1,173 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,362 | €5,772 | -€10,590 | -64.7% |
| Amounts payable | 17/49 | €92,327 | €90,020 | -€2,308 | -2.5% |
| Amounts payable within one year | 42/48 | €92,327 | €90,020 | -€2,308 | -2.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €0 | €12,000 | +€12,000 | |
| Credit institutions | 430/8 | €0 | €12,000 | +€12,000 | |
| Trade debts | 44 | €73,893 | €36,004 | -€37,890 | -51.3% |
| Suppliers | 440/4 | €73,893 | €36,004 | -€37,890 | -51.3% |
| Taxes, remuneration and social security | 45 | €1,473 | €0 | -€1,473 | -100% |
| Taxes | 450/3 | €1,443 | €0 | -€1,443 | -100% |
| Remuneration and social security | 454/9 | €30 | €0 | -€30 | -100% |
| Other amounts payable | 47/48 | €16,962 | €42,016 | +€25,055 | +148% |
| Non-recurring operating income | 76A | - | €38,774 | +€38,774 | |
| Remuneration, social security and pensions | 62 | €646 | €393 | -€253 | -39.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,179 | €6,577 | -€1,603 | -19.6% |
| Other operating charges | 640/8 | €1,350 | €2,063 | +€714 | +52.9% |
| Non-recurring operating charges | 66A | - | €37,301 | +€37,301 | |
| Gross operating margin | 9900 | €16,793 | €37,023 | +€20,230 | +120% |
| Operating profit (loss) | 9901 | €6,618 | -€9,311 | -€15,929 | |
| Financial income | 75/76B | €21 | €426 | +€405 | +1,939% |
| Recurring financial income | 75 | €21 | €426 | +€405 | +1,939% |
| Financial charges | 65/66B | €917 | €957 | +€40 | +4.3% |
| Recurring financial charges | 65 | €917 | €957 | +€40 | +4.3% |
| Profit (loss) for the period before taxes | 9903 | €5,722 | -€9,842 | -€15,564 | |
| Income taxes | 67/77 | €399 | €748 | +€348 | +87.2% |
| Profit (loss) for the period | 9904 | €5,323 | -€10,590 | -€15,913 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,323 | -€10,590 | -€15,913 |
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 17 October 2026 via checked.be.