ORCED: what changed
ORCED
Largest movements
- Cash +€1,635
up €1,635 (+4.5%), from €36,490 to €38,126
mainly Net result for the year (+€4,339) and Trade debts (+€2,955)
- Receivables within one year +€866
up €866 (+4.0%), from €21,467 to €22,333
of which Trade receivables: +€1,211
- Tangible fixed assets -€732
down €732 (-59.3%), from €1,235 to €502
- Tax, wage and social debts -€5,333
down €5,333 (-32.5%), from €16,421 to €11,089
of which Taxes: -€5,333
- Profit (loss) carried forward +€4,339
up €4,339 (+18.9%), from -€22,957 to -€18,618
- Trade debts +€2,955
up €2,955 (+932%), from €317 to €3,272
- Gross operating margin +€8,830
up €8,830, from -€1,246 to €7,584
- Other operating charges -€563
down €563 (-51.6%), from €1,091 to €528
- Financial income +€156
new in 2025: €156
- Financial charges -€96
down €96 (-4.3%), from €2,237 to €2,141
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €59,241 | €61,203 | +€1,961 | +3.3% |
| Fixed assets | 21/28 | €1,285 | €552 | -€732 | -57.0% |
| Tangible fixed assets | 22/27 | €1,235 | €502 | -€732 | -59.3% |
| Plant, machinery and equipment | 23 | €1,235 | €502 | -€732 | -59.3% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €57,957 | €60,651 | +€2,694 | +4.6% |
| Amounts receivable within one year | 40/41 | €21,467 | €22,333 | +€866 | +4.0% |
| Trade receivables | 40 | €16,305 | €17,516 | +€1,211 | +7.4% |
| Other amounts receivable | 41 | €5,162 | €4,817 | -€345 | -6.7% |
| Cash at bank and in hand | 54/58 | €36,490 | €38,126 | +€1,635 | +4.5% |
| Deferred charges and accrued income | 490/1 | - | €192 | +€192 | |
| Total equity and liabilities | 10/49 | €59,241 | €61,203 | +€1,961 | +3.3% |
| Equity | 10/15 | €42,503 | €46,842 | +€4,339 | +10.2% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €45,000 | €45,000 | = | 0.0% |
| Distributable reserves | 133 | €45,000 | €45,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,957 | -€18,618 | +€4,339 | +18.9% |
| Amounts payable | 17/49 | €16,738 | €14,361 | -€2,377 | -14.2% |
| Amounts payable within one year | 42/48 | €16,738 | €14,361 | -€2,377 | -14.2% |
| Trade debts | 44 | €317 | €3,272 | +€2,955 | +932% |
| Suppliers | 440/4 | €317 | €3,272 | +€2,955 | +932% |
| Taxes, remuneration and social security | 45 | €16,421 | €11,089 | -€5,333 | -32.5% |
| Taxes | 450/3 | €13,321 | €7,989 | -€5,333 | -40.0% |
| Remuneration and social security | 454/9 | €3,100 | €3,100 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €732 | €732 | = | 0.0% |
| Other operating charges | 640/8 | €1,091 | €528 | -€563 | -51.6% |
| Gross operating margin | 9900 | -€1,246 | €7,584 | +€8,830 | |
| Operating profit (loss) | 9901 | -€3,069 | €6,324 | +€9,393 | |
| Financial income | 75/76B | - | €156 | +€156 | |
| Recurring financial income | 75 | - | €156 | +€156 | |
| Financial charges | 65/66B | €2,237 | €2,141 | -€96 | -4.3% |
| Recurring financial charges | 65 | €2,237 | €2,141 | -€96 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | -€5,306 | €4,339 | +€9,645 | |
| Income taxes | 67/77 | €29 | - | -€29 | |
| Profit (loss) for the period | 9904 | -€5,335 | €4,339 | +€9,674 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,335 | €4,339 | +€9,674 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.