ORBITAL: what changed
Two fiscal 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.
ORBITAL
Largest movements
- Cash +€31,199
up €31,199 (+19.6%), from €159,172 to €190,371
mainly Net result for the year (+€51,982) and Depreciation (+€19,182)
- Tangible fixed assets -€18,108
down €18,108 (-40.4%), from €44,792 to €26,684
of which Furniture and vehicles: -€17,922
- Receivables within one year +€5,765
up €5,765 (+22.4%), from €25,687 to €31,452
of which Trade receivables: +€5,639
- Reserves +€24,080
up €24,080 (+19.0%), from €127,060 to €151,140
- Other debts -€9,098
down €9,098 (-22.8%), from €39,837 to €30,739
- Tax, wage and social debts +€9,069
up €9,069 (+49.6%), from €18,302 to €27,371
of which Taxes: +€6,019
- Debts after one year -€6,511
down €6,511 (-62.3%), from €10,450 to €3,939
- Gross operating margin +€24,724
up €24,724 (+12.3%), from €201,460 to €226,184
- Financial charges +€21,831
up €21,831 (+56.3%), from €38,808 to €60,639
of which Financial charges: +€21,768
- Staff costs +€3,043
up €3,043 (+4.4%), from €69,544 to €72,587
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 | €233,639 | €252,578 | +€18,939 | +8.1% |
| Fixed assets | 21/28 | €44,817 | €26,709 | -€18,108 | -40.4% |
| Tangible fixed assets | 22/27 | €44,792 | €26,684 | -€18,108 | -40.4% |
| Plant, machinery and equipment | 23 | €954 | €768 | -€186 | -19.5% |
| Furniture and vehicles | 24 | €43,838 | €25,916 | -€17,922 | -40.9% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €188,822 | €225,869 | +€37,047 | +19.6% |
| Stocks and contracts in progress | 3 | €2,100 | €2,100 | = | 0.0% |
| Stocks | 30/36 | €2,100 | €2,100 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €25,687 | €31,452 | +€5,765 | +22.4% |
| Trade receivables | 40 | €25,416 | €31,055 | +€5,639 | +22.2% |
| Other amounts receivable | 41 | €271 | €397 | +€126 | +46.5% |
| Cash at bank and in hand | 54/58 | €159,172 | €190,371 | +€31,199 | +19.6% |
| Deferred charges and accrued income | 490/1 | €1,863 | €1,946 | +€83 | +4.5% |
| Total equity and liabilities | 10/49 | €233,639 | €252,578 | +€18,939 | +8.1% |
| Equity | 10/15 | €155,894 | €179,976 | +€24,082 | +15.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €127,060 | €151,140 | +€24,080 | +19.0% |
| Distributable reserves | 133 | €127,060 | €151,140 | +€24,080 | +19.0% |
| Profit (loss) carried forward | 14 | €10,234 | €10,236 | +€2 | 0.0% |
| Amounts payable | 17/49 | €77,745 | €72,602 | -€5,143 | -6.6% |
| Amounts payable after more than one year | 17 | €10,450 | €3,939 | -€6,511 | -62.3% |
| Financial debts | 170/4 | €10,450 | €3,939 | -€6,511 | -62.3% |
| Amounts payable within one year | 42/48 | €67,295 | €68,663 | +€1,368 | +2.0% |
| Current portion of amounts payable after more than one year | 42 | €6,218 | €6,511 | +€293 | +4.7% |
| Trade debts | 44 | €2,938 | €4,042 | +€1,104 | +37.6% |
| Suppliers | 440/4 | €2,938 | €4,042 | +€1,104 | +37.6% |
| Taxes, remuneration and social security | 45 | €18,302 | €27,371 | +€9,069 | +49.6% |
| Taxes | 450/3 | €10,705 | €16,724 | +€6,019 | +56.2% |
| Remuneration and social security | 454/9 | €7,597 | €10,647 | +€3,050 | +40.1% |
| Other amounts payable | 47/48 | €39,837 | €30,739 | -€9,098 | -22.8% |
| Remuneration, social security and pensions | 62 | €69,544 | €72,587 | +€3,043 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,109 | €19,182 | +€73 | +0.4% |
| Other operating charges | 640/8 | €411 | €424 | +€13 | +3.2% |
| Gross operating margin | 9900 | €201,460 | €226,184 | +€24,724 | +12.3% |
| Operating profit (loss) | 9901 | €112,396 | €133,991 | +€21,595 | +19.2% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €38,808 | €60,639 | +€21,831 | +56.3% |
| Recurring financial charges | 65 | €38,808 | €60,576 | +€21,768 | +56.1% |
| Non-recurring financial charges | 66B | - | €63 | +€63 | |
| Profit (loss) for the period before taxes | 9903 | €73,588 | €73,353 | -€235 | -0.3% |
| Income taxes | 67/77 | €21,514 | €21,371 | -€143 | -0.7% |
| Profit (loss) for the period | 9904 | €52,074 | €51,982 | -€92 | -0.2% |
| Profit (loss) for the period to be appropriated | 9905 | €52,074 | €51,982 | -€92 | -0.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.