ORDOH: 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.
ORDOH
Largest movements
- Cash -€64,121
down €64,121 (-16.0%), from €401,065 to €336,945
mainly Investment in fixed assets (net) (-€49,167) and Net result for the year (-€19,809)
- Financial fixed assets +€49,167
new in 2025: €49,167
- Tangible fixed assets -€11,198
down €11,198 (-43.7%), from €25,648 to €14,449
of which Leasing and similar rights: -€9,440
- Reserves -€19,809
down €19,809 (-4.9%), from €402,843 to €383,034
- Debts after one year -€9,664
down €9,664 (-66.4%), from €14,554 to €4,890
- Gross operating margin -€144,581
down €144,581, from €138,568 to -€6,013
- Taxes -€31,754
no longer reported in 2025 (was €31,754)
- Depreciation -€1,511
down €1,511 (-11.9%), from €12,709 to €11,198
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 | €446,855 | €417,144 | -€29,711 | -6.6% |
| Fixed assets | 21/28 | €25,648 | €63,616 | +€37,968 | +148.0% |
| Tangible fixed assets | 22/27 | €25,648 | €14,449 | -€11,198 | -43.7% |
| Plant, machinery and equipment | 23 | €1,480 | €690 | -€790 | -53.4% |
| Furniture and vehicles | 24 | €969 | - | -€969 | |
| Leasing and similar rights | 25 | €23,199 | €13,759 | -€9,440 | -40.7% |
| Financial fixed assets | 28 | - | €49,167 | +€49,167 | |
| Current assets | 29/58 | €421,207 | €353,528 | -€67,679 | -16.1% |
| Amounts receivable within one year | 40/41 | €19,226 | €15,755 | -€3,471 | -18.1% |
| Other amounts receivable | 41 | €19,226 | €15,755 | -€3,471 | -18.1% |
| Cash at bank and in hand | 54/58 | €401,065 | €336,945 | -€64,121 | -16.0% |
| Deferred charges and accrued income | 490/1 | €916 | €829 | -€87 | -9.5% |
| Total equity and liabilities | 10/49 | €446,855 | €417,144 | -€29,711 | -6.6% |
| Equity | 10/15 | €421,443 | €401,634 | -€19,809 | -4.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €402,843 | €383,034 | -€19,809 | -4.9% |
| Distributable reserves | 133 | €402,843 | €383,034 | -€19,809 | -4.9% |
| Amounts payable | 17/49 | €25,412 | €15,511 | -€9,902 | -39.0% |
| Amounts payable after more than one year | 17 | €14,554 | €4,890 | -€9,664 | -66.4% |
| Financial debts | 170/4 | €14,554 | €4,890 | -€9,664 | -66.4% |
| Amounts payable within one year | 42/48 | €10,858 | €10,621 | -€238 | -2.2% |
| Current portion of amounts payable after more than one year | 42 | €9,513 | €9,664 | +€152 | +1.6% |
| Trade debts | 44 | €916 | €957 | +€41 | +4.5% |
| Suppliers | 440/4 | €916 | €957 | +€41 | +4.5% |
| Other amounts payable | 47/48 | €430 | - | -€430 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,709 | €11,198 | -€1,511 | -11.9% |
| Other operating charges | 640/8 | €1,892 | €1,939 | +€47 | +2.5% |
| Gross operating margin | 9900 | €138,568 | -€6,013 | -€144,581 | |
| Operating profit (loss) | 9901 | €123,966 | -€19,151 | -€143,117 | |
| Financial charges | 65/66B | €817 | €658 | -€159 | -19.4% |
| Recurring financial charges | 65 | €817 | €658 | -€159 | -19.4% |
| Profit (loss) for the period before taxes | 9903 | €123,149 | -€19,809 | -€142,958 | |
| Income taxes | 67/77 | €31,754 | - | -€31,754 | |
| Profit (loss) for the period | 9904 | €91,395 | -€19,809 | -€111,204 | |
| Profit (loss) for the period to be appropriated | 9905 | €91,395 | -€19,809 | -€111,204 |
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 5 October 2026 via checked.be.