ORCA FORWARDING: 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 FORWARDING
Largest movements
- Cash +€88,006
up €88,006 (+12.3%), from €713,440 to €801,446
mainly Trade debts (+€142,057) and Receivables within one year (+€81,713)
- Receivables within one year -€81,713
down €81,713 (-6.2%), from €1.3m to €1.2m
of which Trade receivables: -€191,434
- Trade debts +€142,057
up €142,057 (+52.7%), from €269,523 to €411,581
- Current portion of long-term debt -€113,170
no longer reported in 2025 (was €113,170)
- Other debts +€32,755
up €32,755 (+74.4%), from €44,017 to €76,772
- Tax, wage and social debts -€24,471
down €24,471 (-31.7%), from €77,292 to €52,820
of which Taxes: -€13,041
- Reserves -€23,133
down €23,133 (-1.7%), from €1.3m to €1.3m
- Gross operating margin -€485,220
down €485,220 (-70.7%), from €685,933 to €200,713
- Taxes -€118,755
down €118,755 (-84.8%), from €139,960 to €21,205
- Write-downs -€97,860
down €97,860, from €38,584 to -€59,277
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 | €2,047,471 | €2,056,814 | +€9,343 | +0.5% |
| Fixed assets | 21/28 | €2,550 | €2,550 | = | 0.0% |
| Financial fixed assets | 28 | €2,550 | €2,550 | = | 0.0% |
| Current assets | 29/58 | €2,044,921 | €2,054,264 | +€9,343 | +0.5% |
| Amounts receivable within one year | 40/41 | €1,328,145 | €1,246,432 | -€81,713 | -6.2% |
| Trade receivables | 40 | €1,310,429 | €1,118,995 | -€191,434 | -14.6% |
| Other amounts receivable | 41 | €17,716 | €127,437 | +€109,722 | +619.3% |
| Cash at bank and in hand | 54/58 | €713,440 | €801,446 | +€88,006 | +12.3% |
| Deferred charges and accrued income | 490/1 | €3,335 | €6,386 | +€3,050 | +91.5% |
| Total equity and liabilities | 10/49 | €2,047,471 | €2,056,814 | +€9,343 | +0.5% |
| Equity | 10/15 | €1,346,337 | €1,323,205 | -€23,133 | -1.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,333,937 | €1,310,805 | -€23,133 | -1.7% |
| Distributable reserves | 133 | €1,333,937 | €1,310,805 | -€23,133 | -1.7% |
| Amounts payable | 17/49 | €701,134 | €733,610 | +€32,476 | +4.6% |
| Amounts payable within one year | 42/48 | €614,002 | €642,006 | +€28,004 | +4.6% |
| Current portion of amounts payable after more than one year | 42 | €113,170 | - | -€113,170 | |
| Financial debts | 43 | €110,000 | €100,833 | -€9,167 | -8.3% |
| Credit institutions | 430/8 | €110,000 | €100,833 | -€9,167 | -8.3% |
| Trade debts | 44 | €269,523 | €411,581 | +€142,057 | +52.7% |
| Suppliers | 440/4 | €269,523 | €411,581 | +€142,057 | +52.7% |
| Taxes, remuneration and social security | 45 | €77,292 | €52,820 | -€24,471 | -31.7% |
| Taxes | 450/3 | €43,715 | €30,674 | -€13,041 | -29.8% |
| Remuneration and social security | 454/9 | €33,577 | €22,146 | -€11,431 | -34.0% |
| Other amounts payable | 47/48 | €44,017 | €76,772 | +€32,755 | +74.4% |
| Accrued charges and deferred income | 492/3 | €87,132 | €91,604 | +€4,472 | +5.1% |
| Remuneration, social security and pensions | 62 | €148,575 | €150,497 | +€1,923 | +1.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €38,584 | -€59,277 | -€97,860 | |
| Other operating charges | 640/8 | €6,609 | €11,818 | +€5,209 | +78.8% |
| Non-recurring operating charges | 66A | €47,269 | €27,400 | -€19,869 | -42.0% |
| Gross operating margin | 9900 | €685,933 | €200,713 | -€485,220 | -70.7% |
| Operating profit (loss) | 9901 | €444,896 | €70,274 | -€374,623 | -84.2% |
| Financial income | 75/76B | €1,420 | €6,315 | +€4,895 | +344.7% |
| Recurring financial income | 75 | €1,420 | €6,315 | +€4,895 | +344.7% |
| Financial charges | 65/66B | €6,740 | €5,629 | -€1,111 | -16.5% |
| Recurring financial charges | 65 | €6,740 | €5,629 | -€1,111 | -16.5% |
| Profit (loss) for the period before taxes | 9903 | €439,577 | €70,960 | -€368,616 | -83.9% |
| Income taxes | 67/77 | €139,960 | €21,205 | -€118,755 | -84.8% |
| Profit (loss) for the period | 9904 | €299,616 | €49,755 | -€249,862 | -83.4% |
| Profit (loss) for the period to be appropriated | 9905 | €299,616 | €49,755 | -€249,862 | -83.4% |
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 7 October 2026 via checked.be.