ORBO: 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
ORBO
NACE 18.120, Other printing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€589,614
2024 · €278,139+€311,475
Equity
€4.6m
2024 · €4.5m+€89,614
Cash
€356,675
2024 · €41,954+€314,721
Balance sheet total
€6.7m
2024 · €6.8m-€20,666
Largest movements
Assets
- Tangible fixed assets -€780,540
down €780,540 (-15.2%), from €5.1m to €4.4m
of which Plant, machinery and equipment: -€798,807
- Receivables within one year +€441,449
up €441,449 (+96.2%), from €458,745 to €900,194
of which Other amounts receivable: +€295,490
- Cash +€314,721
up €314,721 (+750%), from €41,954 to €356,675
mainly Depreciation (+€924,709) and Net result for the year (+€589,614)
- Stocks and contracts +€80,255
up €80,255 (+8.5%), from €941,823 to €1.0m
Equity and liabilities
- Trade debts -€334,542
down €334,542 (-22.5%), from €1.5m to €1.2m
- Other debts +€207,479
up €207,479 (+70.9%), from €292,521 to €500,000
- Reserves +€89,614
up €89,614 (+3.9%), from €2.3m to €2.4m
of which Distributable reserves: +€89,614
Income statement
- Turnover -€10.7m
no longer reported in 2025 (was €10.7m)
- Goods and materials -€5.5m
no longer reported in 2025 (was €5.5m)
of which Purchases: -€5.6m
- Gross operating margin +€3.9m
new in 2025: €3.9m
- Services and other goods -€1.8m
no longer reported in 2025 (was €1.8m)
- Other operating income -€144,328
no longer reported in 2025 (was €144,328)
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
€278,139
Turnover
-€10.7m
Other operating income
-€144,328
Goods and materials
+€5.5m
Services and other goods
+€1.8m
Staff costs
+€140,272
Depreciation
-€109,354
Write-downs
-€40,339
Other operating charges
-€24,541
Other operating items
+€4.0m
Financial income
-€4,239
Financial charges
+€46,878
Taxes
-€123,120
Result 2025
€589,614
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€912,922
Investment
-€98,202
Financing
-€500,000
Cash 2024
€41,954
From operations (derived)
+€912,922
Net result for the year
+€589,614
Depreciation
+€924,709
Stocks and contracts
-€80,255
Receivables within one year
-€441,449
Deferred charges and accrued income
+€30,583
Trade debts
-€334,542
Tax, wage and social debts
+€35,929
Advances received
-€11,506
Other debts
+€207,479
Accrued charges and deferred income
-€7,640
Investment (derived)
-€98,202
Investment in fixed assets (net)
-€98,202
Financing
-€500,000
Contributions, distributions and other
-€500,000
Cash 2025
€356,675
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,751,502 | €6,730,836 | -€20,666 | -0.3% |
| Fixed assets | 21/28 | €5,239,242 | €4,412,735 | -€826,507 | -15.8% |
| Intangible fixed assets | 21 | €89,602 | €43,634 | -€45,968 | -51.3% |
| Tangible fixed assets | 22/27 | €5,140,644 | €4,360,105 | -€780,540 | -15.2% |
| Land and buildings | 22 | €7,877 | €4,929 | -€2,948 | -37.4% |
| Plant, machinery and equipment | 23 | €5,085,045 | €4,286,238 | -€798,807 | -15.7% |
| Furniture and vehicles | 24 | €47,722 | €39,938 | -€7,785 | -16.3% |
| Assets under construction and advance payments | 27 | €0 | €29,000 | +€29,000 | |
| Financial fixed assets | 28 | €8,997 | €8,997 | = | 0.0% |
| Other financial fixed assets | 284/8 | €8,997 | - | -€8,997 | |
| Amounts receivable and cash guarantees | 285/8 | €8,997 | - | -€8,997 | |
| Current assets | 29/58 | €1,512,260 | €2,318,101 | +€805,842 | +53.3% |
| Stocks and contracts in progress | 3 | €941,823 | €1,022,078 | +€80,255 | +8.5% |
| Stocks | 30/36 | €941,823 | €1,022,078 | +€80,255 | +8.5% |
| Raw materials and consumables | 30/31 | €742,863 | - | -€742,863 | |
| Work in progress | 32 | €36,262 | - | -€36,262 | |
| Finished goods | 33 | €162,697 | - | -€162,697 | |
| Amounts receivable within one year | 40/41 | €458,745 | €900,194 | +€441,449 | +96.2% |
| Trade receivables | 40 | €328,365 | €474,324 | +€145,959 | +44.5% |
| Other amounts receivable | 41 | €130,380 | €425,870 | +€295,490 | +227% |
| Cash at bank and in hand | 54/58 | €41,954 | €356,675 | +€314,721 | +750% |
| Deferred charges and accrued income | 490/1 | €69,738 | €39,154 | -€30,583 | -43.9% |
| Total equity and liabilities | 10/49 | €6,751,502 | €6,730,836 | -€20,666 | -0.3% |
| Equity | 10/15 | €4,489,002 | €4,578,617 | +€89,614 | +2.0% |
| Contributions | 10/11 | €2,167,351 | €2,167,351 | = | 0.0% |
| Capital | 10 | €2,167,351 | €2,167,351 | = | 0.0% |
| Issued capital | 100 | €2,167,351 | €2,167,351 | = | 0.0% |
| Reserves | 13 | €2,321,651 | €2,411,265 | +€89,614 | +3.9% |
| Non-distributable reserves | 130/1 | €216,735 | €216,735 | = | 0.0% |
| Legal reserve | 130 | €216,735 | €216,735 | = | 0.0% |
| Distributable reserves | 133 | €2,104,916 | €2,194,530 | +€89,614 | +4.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €2,262,500 | €2,152,220 | -€110,280 | -4.9% |
| Amounts payable within one year | 42/48 | €2,171,926 | €2,069,286 | -€102,640 | -4.7% |
| Trade debts | 44 | €1,485,300 | €1,150,758 | -€334,542 | -22.5% |
| Suppliers | 440/4 | €1,485,300 | €1,150,758 | -€334,542 | -22.5% |
| Advances received on contracts in progress | 46 | €14,592 | €3,086 | -€11,506 | -78.9% |
| Taxes, remuneration and social security | 45 | €379,514 | €415,443 | +€35,929 | +9.5% |
| Taxes | 450/3 | €110,770 | €179,996 | +€69,226 | +62.5% |
| Remuneration and social security | 454/9 | €268,744 | €235,446 | -€33,297 | -12.4% |
| Other amounts payable | 47/48 | €292,521 | €500,000 | +€207,479 | +70.9% |
| Accrued charges and deferred income | 492/3 | €90,574 | €82,934 | -€7,640 | -8.4% |
| Operating income | 70/76A | €10,816,732 | - | -€10.8m | |
| Turnover | 70 | €10,735,908 | - | -€10.7m | |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€63,504 | - | +€63,504 | |
| Other operating income | 74 | €144,328 | - | -€144,328 | |
| Non-recurring operating income | 76A | - | €418,244 | +€418,244 | |
| Operating charges | 60/66A | €10,345,770 | - | -€10.3m | |
| Goods for resale, raw materials and consumables | 60 | €5,490,101 | - | -€5.5m | |
| Purchases | 600/8 | €5,647,383 | - | -€5.6m | |
| Change in stocks: decrease (increase) | 609 | -€157,282 | - | +€157,282 | |
| Services and other goods | 61 | €1,806,050 | - | -€1.8m | |
| Remuneration, social security and pensions | 62 | €2,156,971 | €2,016,699 | -€140,272 | -6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €815,354 | €924,709 | +€109,354 | +13.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€7,333 | €33,006 | +€40,339 | |
| Other operating charges | 640/8 | €84,626 | €109,167 | +€24,541 | +29.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | - | €3,946,499 | +€3.9m | |
| Operating profit (loss) | 9901 | €470,963 | €862,919 | +€391,956 | +83.2% |
| Financial income | 75/76B | €8,288 | €4,049 | -€4,239 | -51.2% |
| Recurring financial income | 75 | €8,288 | €4,049 | -€4,239 | -51.2% |
| Income from current assets | 751 | €0 | - | -€0 | |
| Other financial income | 752/9 | €8,288 | - | -€8,288 | |
| Financial charges | 65/66B | €109,303 | €62,424 | -€46,878 | -42.9% |
| Recurring financial charges | 65 | €109,303 | €62,424 | -€46,878 | -42.9% |
| Debt charges | 650 | €85,223 | - | -€85,223 | |
| Other financial charges | 652/9 | €24,080 | - | -€24,080 | |
| Profit (loss) for the period before taxes | 9903 | €369,948 | €804,543 | +€434,595 | +117% |
| Income taxes | 67/77 | €91,809 | €214,929 | +€123,120 | +134% |
| Taxes | 670/3 | €98,430 | - | -€98,430 | |
| Tax adjustments and reversals of tax provisions | 77 | €6,621 | - | -€6,621 | |
| Profit (loss) for the period | 9904 | €278,139 | €589,614 | +€311,475 | +112% |
| Profit (loss) for the period to be appropriated | 9905 | €278,139 | €589,614 | +€311,475 | +112% |
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 13 October 2026 via checked.be.