ORELEC: 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.
ORELEC
Largest movements
- Cash -€30,286
down €30,286 (-83.4%), from €36,312 to €6,026
mainly Net result for the year (-€41,526) and Investment in fixed assets (net) (-€23,427)
- Tangible fixed assets +€15,671
up €15,671 (+121.8%), from €12,862 to €28,532
of which Plant, machinery and equipment: +€19,025
- Receivables within one year -€8,458
down €8,458 (-11.5%), from €73,291 to €64,833
of which Other amounts receivable: -€27,763
- Deferred charges and accrued income +€1,485
up €1,485 (+23.6%), from €6,305 to €7,791
- Reserves -€41,000
down €41,000 (-60.4%), from €67,859 to €26,859
of which Distributable reserves: -€41,000
- Other debts +€33,315
new in 2025: €33,315
- Trade debts -€7,110
down €7,110 (-31.5%), from €22,572 to €15,462
- Tax, wage and social debts -€3,258
down €3,258 (-17.2%), from €18,977 to €15,719
of which Taxes: -€2,704
- Advances received -€3,000
down €3,000 (-37.5%), from €8,000 to €5,000
- Financial income -€24,250
down €24,250 (-53.4%), from €45,420 to €21,170
of which Non-recurring financial income: -€24,173
- Gross operating margin -€23,575
down €23,575 (-19.4%), from €121,638 to €98,063
- Taxes -€3,756
down €3,756 (-96.0%), from €3,911 to €155
- Staff costs +€3,689
up €3,689 (+2.6%), from €143,253 to €146,942
- Other operating charges +€2,585
up €2,585 (+144.4%), from €1,791 to €4,376
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 | €136,827 | €115,239 | -€21,588 | -15.8% |
| Fixed assets | 21/28 | €20,918 | €36,589 | +€15,671 | +74.9% |
| Tangible fixed assets | 22/27 | €12,862 | €28,532 | +€15,671 | +121.8% |
| Plant, machinery and equipment | 23 | €2,640 | €21,665 | +€19,025 | +720.6% |
| Furniture and vehicles | 24 | €10,221 | €6,867 | -€3,354 | -32.8% |
| Financial fixed assets | 28 | €8,057 | €8,057 | = | 0.0% |
| Current assets | 29/58 | €115,909 | €78,650 | -€37,259 | -32.1% |
| Amounts receivable within one year | 40/41 | €73,291 | €64,833 | -€8,458 | -11.5% |
| Trade receivables | 40 | €41,368 | €60,673 | +€19,305 | +46.7% |
| Other amounts receivable | 41 | €31,923 | €4,161 | -€27,763 | -87.0% |
| Cash at bank and in hand | 54/58 | €36,312 | €6,026 | -€30,286 | -83.4% |
| Deferred charges and accrued income | 490/1 | €6,305 | €7,791 | +€1,485 | +23.6% |
| Total equity and liabilities | 10/49 | €136,827 | €115,239 | -€21,588 | -15.8% |
| Equity | 10/15 | €87,269 | €45,743 | -€41,526 | -47.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €67,859 | €26,859 | -€41,000 | -60.4% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €66,000 | €25,000 | -€41,000 | -62.1% |
| Profit (loss) carried forward | 14 | €818 | €292 | -€526 | -64.3% |
| Amounts payable | 17/49 | €49,557 | €69,496 | +€19,938 | +40.2% |
| Amounts payable within one year | 42/48 | €49,549 | €69,496 | +€19,947 | +40.3% |
| Trade debts | 44 | €22,572 | €15,462 | -€7,110 | -31.5% |
| Suppliers | 440/4 | €22,572 | €15,462 | -€7,110 | -31.5% |
| Advances received on contracts in progress | 46 | €8,000 | €5,000 | -€3,000 | -37.5% |
| Taxes, remuneration and social security | 45 | €18,977 | €15,719 | -€3,258 | -17.2% |
| Taxes | 450/3 | €8,766 | €6,062 | -€2,704 | -30.8% |
| Remuneration and social security | 454/9 | €10,211 | €9,656 | -€555 | -5.4% |
| Other amounts payable | 47/48 | - | €33,315 | +€33,315 | |
| Accrued charges and deferred income | 492/3 | €8 | - | -€8 | |
| Remuneration, social security and pensions | 62 | €143,253 | €146,942 | +€3,689 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,026 | €7,756 | +€1,730 | +28.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €771 | - | -€771 | |
| Other operating charges | 640/8 | €1,791 | €4,376 | +€2,585 | +144.4% |
| Gross operating margin | 9900 | €121,638 | €98,063 | -€23,575 | -19.4% |
| Operating profit (loss) | 9901 | -€30,202 | -€61,011 | -€30,809 | -102.0% |
| Financial income | 75/76B | €45,420 | €21,170 | -€24,250 | -53.4% |
| Recurring financial income | 75 | €94 | €16 | -€77 | -82.5% |
| Non-recurring financial income | 76B | €45,326 | €21,154 | -€24,173 | -53.3% |
| Financial charges | 65/66B | €178 | €1,531 | +€1,353 | +761.8% |
| Recurring financial charges | 65 | €178 | €1,531 | +€1,353 | +761.8% |
| Profit (loss) for the period before taxes | 9903 | €15,040 | -€41,372 | -€56,412 | |
| Income taxes | 67/77 | €3,911 | €155 | -€3,756 | -96.0% |
| Profit (loss) for the period | 9904 | €11,129 | -€41,526 | -€52,655 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,129 | -€41,526 | -€52,655 |
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 28 September 2026 via checked.be.