ORELAM: 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.
ORELAM
Largest movements
- Tangible fixed assets +€790,332
up €790,332 (+228%), from €347,243 to €1.1m
of which Other tangible fixed assets: +€718,774
- Receivables within one year +€237,693
up €237,693 (+572%), from €41,520 to €279,213
of which Other amounts receivable: +€232,585
- Cash +€226,273
up €226,273 (+142%), from €159,022 to €385,296
mainly Net result for the year (+€588,256) and Depreciation (+€274,539)
- Profit (loss) carried forward +€588,256
up €588,256 (+5,541%), from €10,617 to €598,872
- Debts after one year +€247,933
up €247,933 (+118%), from €210,937 to €458,870
- Advances received +€247,109
new in 2025: €247,109
- Trade debts +€176,143
up €176,143 (+4,406%), from €3,997 to €180,141
- Other debts -€140,899
down €140,899 (-56.4%), from €249,815 to €108,916
- Gross operating margin +€1.6m
up €1.6m (+1,433%), from €110,905 to €1.7m
- Staff costs +€587,460
up €587,460 (+8,418%), from €6,978 to €594,439
- Depreciation +€230,255
up €230,255 (+520%), from €44,285 to €274,539
- Taxes +€193,941
up €193,941 (+1,751%), from €11,077 to €205,018
- Financial charges +€21,671
up €21,671 (+1,729%), from €1,253 to €22,924
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 | €551,015 | €1,808,071 | +€1.3m | +228% |
| Fixed assets | 21/28 | €350,473 | €1,137,825 | +€787,352 | +225% |
| Intangible fixed assets | 21 | €3,230 | - | -€3,230 | |
| Tangible fixed assets | 22/27 | €347,243 | €1,137,575 | +€790,332 | +228% |
| Plant, machinery and equipment | 23 | €49,852 | €30,252 | -€19,601 | -39.3% |
| Furniture and vehicles | 24 | €168,311 | €257,568 | +€89,256 | +53.0% |
| Leasing and similar rights | 25 | €21,527 | €23,429 | +€1,902 | +8.8% |
| Other tangible fixed assets | 26 | €107,553 | €826,327 | +€718,774 | +668% |
| Financial fixed assets | 28 | - | €250 | +€250 | |
| Current assets | 29/58 | €200,542 | €670,246 | +€469,704 | +234% |
| Amounts receivable within one year | 40/41 | €41,520 | €279,213 | +€237,693 | +572% |
| Trade receivables | 40 | €17,879 | €22,988 | +€5,109 | +28.6% |
| Other amounts receivable | 41 | €23,641 | €256,226 | +€232,585 | +984% |
| Cash at bank and in hand | 54/58 | €159,022 | €385,296 | +€226,273 | +142% |
| Deferred charges and accrued income | 490/1 | - | €5,737 | +€5,737 | |
| Total equity and liabilities | 10/49 | €551,015 | €1,808,071 | +€1.3m | +228% |
| Equity | 10/15 | €10,618 | €598,873 | +€588,256 | +5,540% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,617 | €598,872 | +€588,256 | +5,541% |
| Amounts payable | 17/49 | €540,398 | €1,209,198 | +€668,800 | +124% |
| Amounts payable after more than one year | 17 | €210,937 | €458,870 | +€247,933 | +118% |
| Financial debts | 170/4 | €210,937 | €458,870 | +€247,933 | +118% |
| Amounts payable within one year | 42/48 | €329,461 | €750,328 | +€420,866 | +128% |
| Current portion of amounts payable after more than one year | 42 | €57,586 | €119,522 | +€61,935 | +108% |
| Trade debts | 44 | €3,997 | €180,141 | +€176,143 | +4,406% |
| Suppliers | 440/4 | €3,997 | €180,141 | +€176,143 | +4,406% |
| Advances received on contracts in progress | 46 | - | €247,109 | +€247,109 | |
| Taxes, remuneration and social security | 45 | €18,063 | €94,641 | +€76,578 | +424% |
| Taxes | 450/3 | €16,651 | €25,101 | +€8,450 | +50.7% |
| Remuneration and social security | 454/9 | €1,411 | €69,539 | +€68,128 | +4,827% |
| Other amounts payable | 47/48 | €249,815 | €108,916 | -€140,899 | -56.4% |
| Remuneration, social security and pensions | 62 | €6,978 | €594,439 | +€587,460 | +8,418% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,285 | €274,539 | +€230,255 | +520% |
| Other operating charges | 640/8 | €1,541 | €12,892 | +€11,351 | +736% |
| Non-recurring operating charges | 66A | €1,750 | €2,597 | +€847 | +48.4% |
| Gross operating margin | 9900 | €110,905 | €1,700,662 | +€1.6m | +1,433% |
| Operating profit (loss) | 9901 | €56,351 | €816,195 | +€759,844 | +1,348% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €1,253 | €22,924 | +€21,671 | +1,729% |
| Recurring financial charges | 65 | €1,253 | €22,924 | +€21,671 | +1,729% |
| Profit (loss) for the period before taxes | 9903 | €55,097 | €793,274 | +€738,177 | +1,340% |
| Income taxes | 67/77 | €11,077 | €205,018 | +€193,941 | +1,751% |
| Profit (loss) for the period | 9904 | €44,020 | €588,256 | +€544,236 | +1,236% |
| Profit (loss) for the period to be appropriated | 9905 | €44,020 | €588,256 | +€544,236 | +1,236% |
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 14 October 2026 via checked.be.