ORCOVET: 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.
ORCOVET
Largest movements
- Cash +€124,320
up €124,320 (+138%), from €90,387 to €214,707
mainly Net result for the year (+€62,700) and Other debts (+€47,460)
- Tangible fixed assets -€27,699
down €27,699 (-85.0%), from €32,579 to €4,880
of which Furniture and vehicles: -€27,699
- Receivables within one year +€18,846
up €18,846 (+23.0%), from €82,023 to €100,869
of which Trade receivables: +€31,409
- Other debts +€47,460
up €47,460 (+158%), from €30,000 to €77,460
- Trade debts +€36,430
up €36,430 (+231%), from €15,798 to €52,228
- Profit (loss) carried forward +€32,700
up €32,700, from €0 to €32,700
- Tax, wage and social debts -€4,707
down €4,707 (-9.8%), from €48,005 to €43,298
of which Remuneration and social security: -€13,843
- Gross operating margin +€44,390
up €44,390 (+15.4%), from €288,265 to €332,655
- Taxes +€15,997
up €15,997 (+1,595%), from €1,003 to €17,000
- Staff costs -€12,606
down €12,606 (-5.3%), from €238,960 to €226,354
- Depreciation -€4,772
down €4,772 (-33.6%), from €14,212 to €9,440
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €219,107 | €330,989 | +€111,882 | +51.1% |
| Fixed assets | 21/28 | €46,051 | €15,147 | -€30,904 | -67.1% |
| Intangible fixed assets | 21 | €13,007 | €10,267 | -€2,740 | -21.1% |
| Tangible fixed assets | 22/27 | €32,579 | €4,880 | -€27,699 | -85.0% |
| Furniture and vehicles | 24 | €32,579 | €4,880 | -€27,699 | -85.0% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €465 | €0 | -€465 | -100% |
| Current assets | 29/58 | €173,056 | €315,842 | +€142,786 | +82.5% |
| Stocks and contracts in progress | 3 | €143 | €0 | -€143 | -100% |
| Stocks | 30/36 | €143 | €0 | -€143 | -100% |
| Amounts receivable within one year | 40/41 | €82,023 | €100,869 | +€18,846 | +23.0% |
| Trade receivables | 40 | €68,169 | €99,577 | +€31,409 | +46.1% |
| Other amounts receivable | 41 | €13,854 | €1,292 | -€12,562 | -90.7% |
| Cash at bank and in hand | 54/58 | €90,387 | €214,707 | +€124,320 | +138% |
| Deferred charges and accrued income | 490/1 | €503 | €266 | -€237 | -47.2% |
| Total equity and liabilities | 10/49 | €219,107 | €330,989 | +€111,882 | +51.1% |
| Equity | 10/15 | €121,304 | €154,003 | +€32,700 | +27.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €115,104 | €115,104 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,628 | €10,628 | = | 0.0% |
| Distributable reserves | 133 | €104,476 | €104,476 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €32,700 | +€32,700 | |
| Amounts payable | 17/49 | €97,804 | €176,986 | +€79,182 | +81.0% |
| Amounts payable within one year | 42/48 | €93,804 | €172,986 | +€79,182 | +84.4% |
| Trade debts | 44 | €15,798 | €52,228 | +€36,430 | +231% |
| Suppliers | 440/4 | €15,798 | €52,228 | +€36,430 | +231% |
| Taxes, remuneration and social security | 45 | €48,005 | €43,298 | -€4,707 | -9.8% |
| Taxes | 450/3 | €9,038 | €18,174 | +€9,136 | +101% |
| Remuneration and social security | 454/9 | €38,967 | €25,124 | -€13,843 | -35.5% |
| Other amounts payable | 47/48 | €30,000 | €77,460 | +€47,460 | +158% |
| Accrued charges and deferred income | 492/3 | €4,000 | €4,000 | = | 0.0% |
| Non-recurring operating income | 76A | €1,035 | €0 | -€1,035 | -100% |
| Remuneration, social security and pensions | 62 | €238,960 | €226,354 | -€12,606 | -5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,212 | €9,440 | -€4,772 | -33.6% |
| Other operating charges | 640/8 | €988 | €1,018 | +€30 | +3.0% |
| Non-recurring operating charges | 66A | €498 | €4,000 | +€3,502 | +703% |
| Gross operating margin | 9900 | €288,265 | €332,655 | +€44,390 | +15.4% |
| Operating profit (loss) | 9901 | €33,607 | €91,843 | +€58,237 | +173% |
| Financial income | 75/76B | €14 | €0 | -€14 | -100% |
| Recurring financial income | 75 | €14 | €0 | -€14 | -100% |
| Financial charges | 65/66B | €13,218 | €12,144 | -€1,074 | -8.1% |
| Recurring financial charges | 65 | €13,218 | €12,144 | -€1,074 | -8.1% |
| Profit (loss) for the period before taxes | 9903 | €20,404 | €79,700 | +€59,296 | +291% |
| Income taxes | 67/77 | €1,003 | €17,000 | +€15,997 | +1,595% |
| Profit (loss) for the period | 9904 | €19,401 | €62,700 | +€43,299 | +223% |
| Profit (loss) for the period to be appropriated | 9905 | €19,401 | €62,700 | +€43,299 | +223% |
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 26 October 2026 via checked.be.