ORCA: 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.
ORCA
Largest movements
- Tangible fixed assets -€41,142
no longer reported in 2025 (was €41,142)
of which Plant, machinery and equipment: -€38,090
- Stocks and contracts -€28,875
no longer reported in 2025 (was €28,875)
- Cash -€12,716
down €12,716 (-72.7%), from €17,493 to €4,777
mainly Tax, wage and social debts (-€37,174) and Trade debts (-€36,591)
- Financial fixed assets -€10,574
down €10,574 (-77.7%), from €13,615 to €3,042
- Receivables within one year -€7,990
down €7,990 (-77.6%), from €10,295 to €2,305
- Tax, wage and social debts -€37,174
no longer reported in 2025 (was €37,174)
of which Remuneration and social security: -€24,725
- Trade debts -€36,591
down €36,591 (-99.4%), from €36,797 to €206
- Debts after one year -€19,500
no longer reported in 2025 (was €19,500)
- Profit (loss) carried forward -€8,590
down €8,590 (-2.2%), from -€395,078 to -€403,668
- Short-term financial debts +€6,443
up €6,443 (+239.1%), from €2,695 to €9,137
- Gross operating margin -€287,619
down €287,619 (-82.1%), from €350,275 to €62,656
- Staff costs -€240,316
down €240,316 (-78.1%), from €307,750 to €67,434
- Depreciation -€13,190
no longer reported in 2025 (was €13,190)
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 | €111,450 | €10,123 | -€101,327 | -90.9% |
| Fixed assets | 21/28 | €54,757 | €3,042 | -€51,716 | -94.4% |
| Tangible fixed assets | 22/27 | €41,142 | - | -€41,142 | |
| Plant, machinery and equipment | 23 | €38,090 | - | -€38,090 | |
| Furniture and vehicles | 24 | €964 | - | -€964 | |
| Leasing and similar rights | 25 | €2,088 | - | -€2,088 | |
| Financial fixed assets | 28 | €13,615 | €3,042 | -€10,574 | -77.7% |
| Current assets | 29/58 | €56,693 | €7,082 | -€49,611 | -87.5% |
| Stocks and contracts in progress | 3 | €28,875 | - | -€28,875 | |
| Stocks | 30/36 | €28,875 | - | -€28,875 | |
| Amounts receivable within one year | 40/41 | €10,295 | €2,305 | -€7,990 | -77.6% |
| Other amounts receivable | 41 | €10,295 | €2,305 | -€7,990 | -77.6% |
| Current investments | 50/53 | €30 | - | -€30 | |
| Cash at bank and in hand | 54/58 | €17,493 | €4,777 | -€12,716 | -72.7% |
| Total equity and liabilities | 10/49 | €111,450 | €10,123 | -€101,327 | -90.9% |
| Equity | 10/15 | -€320,710 | -€329,300 | -€8,590 | -2.7% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Outside capital | 11 | €74,368 | €74,368 | = | 0.0% |
| Other | 1109/19 | €74,368 | €74,368 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€395,078 | -€403,668 | -€8,590 | -2.2% |
| Amounts payable | 17/49 | €432,160 | €339,424 | -€92,737 | -21.5% |
| Amounts payable after more than one year | 17 | €19,500 | - | -€19,500 | |
| Financial debts | 170/4 | €19,500 | - | -€19,500 | |
| Amounts payable within one year | 42/48 | €412,660 | €339,424 | -€73,237 | -17.7% |
| Financial debts | 43 | €2,695 | €9,137 | +€6,443 | +239.1% |
| Credit institutions | 430/8 | €2,695 | €9,137 | +€6,443 | +239.1% |
| Trade debts | 44 | €36,797 | €206 | -€36,591 | -99.4% |
| Suppliers | 440/4 | €36,797 | €206 | -€36,591 | -99.4% |
| Taxes, remuneration and social security | 45 | €37,174 | - | -€37,174 | |
| Taxes | 450/3 | €12,449 | - | -€12,449 | |
| Remuneration and social security | 454/9 | €24,725 | - | -€24,725 | |
| Other amounts payable | 47/48 | €335,995 | €330,081 | -€5,914 | -1.8% |
| Non-recurring operating income | 76A | €3,955 | €53,858 | +€49,903 | +1261.7% |
| Remuneration, social security and pensions | 62 | €307,750 | €67,434 | -€240,316 | -78.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,190 | - | -€13,190 | |
| Other operating charges | 640/8 | €1,063 | €2,245 | +€1,182 | +111.3% |
| Gross operating margin | 9900 | €350,275 | €62,656 | -€287,619 | -82.1% |
| Operating profit (loss) | 9901 | €28,272 | -€7,023 | -€35,296 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €3,420 | €1,567 | -€1,853 | -54.2% |
| Recurring financial charges | 65 | €3,420 | €1,567 | -€1,853 | -54.2% |
| Profit (loss) for the period before taxes | 9903 | €24,852 | -€8,590 | -€33,442 | |
| Profit (loss) for the period | 9904 | €24,852 | -€8,590 | -€33,442 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,852 | -€8,590 | -€33,442 |
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 3 October 2026 via checked.be.