ORBAN: 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.
ORBAN
Largest movements
- Receivables within one year -€847,879
down €847,879 (-81.9%), from €1.0m to €187,964
of which Other amounts receivable: -€794,406
- Financial fixed assets +€800,000
up €800,000 (+156,326%), from €512 to €800,512
- Cash -€235,252
down €235,252 (-100.0%), from €235,315 to €63
mainly Investment in fixed assets (net) (-€892,941) and Trade debts (-€184,833)
- Tangible fixed assets +€26,839
up €26,839 (+2.5%), from €1.1m to €1.1m
of which Land and buildings: +€36,303
- Trade debts -€184,833
down €184,833 (-73.3%), from €252,176 to €67,343
- Debts after one year -€67,663
down €67,663 (-5.9%), from €1.2m to €1.1m
- Financial income -€40,854
down €40,854 (-86.7%), from €47,142 to €6,288
- Depreciation +€20,356
up €20,356 (+44.5%), from €45,746 to €66,103
- Other operating charges -€13,159
down €13,159 (-66.5%), from €19,794 to €6,634
- Gross operating margin +€4,117
up €4,117 (+4.9%), from €83,355 to €87,472
- Financial charges +€2,147
up €2,147 (+6.3%), from €33,917 to €36,064
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 | €2,324,367 | €2,068,075 | -€256,292 | -11.0% |
| Fixed assets | 21/28 | €1,053,210 | €1,880,048 | +€826,839 | +78.5% |
| Tangible fixed assets | 22/27 | €1,052,698 | €1,079,536 | +€26,839 | +2.5% |
| Land and buildings | 22 | €1,041,411 | €1,077,713 | +€36,303 | +3.5% |
| Furniture and vehicles | 24 | €11,287 | €1,823 | -€9,464 | -83.8% |
| Financial fixed assets | 28 | €512 | €800,512 | +€800,000 | +156,326% |
| Current assets | 29/58 | €1,271,158 | €188,027 | -€1.1m | -85.2% |
| Amounts receivable within one year | 40/41 | €1,035,843 | €187,964 | -€847,879 | -81.9% |
| Trade receivables | 40 | €124,841 | €71,368 | -€53,473 | -42.8% |
| Other amounts receivable | 41 | €911,002 | €116,596 | -€794,406 | -87.2% |
| Cash at bank and in hand | 54/58 | €235,315 | €63 | -€235,252 | -100.0% |
| Total equity and liabilities | 10/49 | €2,324,367 | €2,068,075 | -€256,292 | -11.0% |
| Equity | 10/15 | €699,650 | €689,701 | -€9,948 | -1.4% |
| Contributions | 10/11 | €223,500 | €223,500 | = | 0.0% |
| Capital | 10 | €223,500 | €223,500 | = | 0.0% |
| Issued capital | 100 | €227,900 | €227,900 | = | 0.0% |
| Uncalled capital | 101 | €4,400 | €4,400 | = | 0.0% |
| Reserves | 13 | €387,206 | €377,301 | -€9,905 | -2.6% |
| Non-distributable reserves | 130/1 | €1,946 | €1,946 | = | 0.0% |
| Legal reserve | 130 | €1,946 | €1,946 | = | 0.0% |
| Tax-exempt reserves | 132 | €385,260 | €375,355 | -€9,905 | -2.6% |
| Profit (loss) carried forward | 14 | €88,944 | €88,901 | -€43 | 0.0% |
| Provisions and deferred taxes | 16 | €157,075 | €151,983 | -€5,093 | -3.2% |
| Deferred taxes | 168 | €157,075 | €151,983 | -€5,093 | -3.2% |
| Amounts payable | 17/49 | €1,467,642 | €1,226,391 | -€241,251 | -16.4% |
| Amounts payable after more than one year | 17 | €1,154,600 | €1,086,937 | -€67,663 | -5.9% |
| Financial debts | 170/4 | €1,154,600 | €1,086,937 | -€67,663 | -5.9% |
| Amounts payable within one year | 42/48 | €313,042 | €139,454 | -€173,588 | -55.5% |
| Current portion of amounts payable after more than one year | 42 | €60,800 | €67,663 | +€6,863 | +11.3% |
| Financial debts | 43 | - | €4,382 | +€4,382 | |
| Credit institutions | 430/8 | - | €4,382 | +€4,382 | |
| Trade debts | 44 | €252,176 | €67,343 | -€184,833 | -73.3% |
| Suppliers | 440/4 | €252,176 | €67,343 | -€184,833 | -73.3% |
| Taxes, remuneration and social security | 45 | €28 | €28 | = | 0.0% |
| Taxes | 450/3 | €28 | €28 | = | 0.0% |
| Other amounts payable | 47/48 | €38 | €38 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,746 | €66,103 | +€20,356 | +44.5% |
| Other operating charges | 640/8 | €19,794 | €6,634 | -€13,159 | -66.5% |
| Gross operating margin | 9900 | €83,355 | €87,472 | +€4,117 | +4.9% |
| Operating profit (loss) | 9901 | €17,815 | €14,735 | -€3,080 | -17.3% |
| Financial income | 75/76B | €47,142 | €6,288 | -€40,854 | -86.7% |
| Recurring financial income | 75 | €47,142 | €6,288 | -€40,854 | -86.7% |
| Financial charges | 65/66B | €33,917 | €36,064 | +€2,147 | +6.3% |
| Recurring financial charges | 65 | €33,917 | €36,064 | +€2,147 | +6.3% |
| Profit (loss) for the period before taxes | 9903 | €31,040 | -€15,041 | -€46,081 | |
| Transfer from deferred taxes | 780 | €5,093 | €5,093 | = | 0.0% |
| Profit (loss) for the period | 9904 | €36,132 | -€9,948 | -€46,081 | |
| Transfer from tax-exempt reserves | 789 | €9,905 | €9,905 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €46,038 | -€43 | -€46,081 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.