Orfecorp: 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.
What changed
Orfecorp
NACE 82.990, Other business support services
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€4.7m
2024 · €1.8m+€2.9m
Equity
€5.9m
2024 · €1.2m+€4.6m
Cash
€810,449
2024 · €645,450+€164,999
Balance sheet total
€34.0m
2024 · €13.9m+€20.1m
Largest movements
Assets
- Receivables within one year +€13.4m
up €13.4m (+716.7%), from €1.9m to €15.2m
of which Other amounts receivable: +€13.5m
- Financial fixed assets +€5.5m
up €5.5m (+48.6%), from €11.3m to €16.8m
- Current investments +€1.2m
new in 2025: €1.2m
Equity and liabilities
- Other debts +€16.6m
up €16.6m (+1080.1%), from €1.5m to €18.2m
- Profit (loss) carried forward +€3.7m
up €3.7m (+869.8%), from €424,145 to €4.1m
- Debts after one year -€1.1m
down €1.1m (-11.7%), from €9.5m to €8.4m
- Reserves +€959,880
up €959,880 (+120.0%), from €799,900 to €1.8m
Income statement
- Financial income +€2.6m
up €2.6m (+25099.3%), from €10,554 to €2.7m
of which Non-recurring financial income: +€2.6m
- Financial charges -€264,149
down €264,149 (-40.5%), from €652,121 to €387,971
- Services and other goods -€109,762
down €109,762 (-22.8%), from €481,430 to €371,668
- Taxes +€43,779
up €43,779 (+12.8%), from €341,044 to €384,823
- Turnover -€43,291
down €43,291 (-1.2%), from €3.8m to €3.7m
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.
Result 2024
€1.8m
Turnover
-€43,291
Other operating income
+€4,473
Services and other goods
+€109,762
Staff costs
-€14,850
Depreciation
-€353
Other operating charges
-€1,098
Financial income
+€2.6m
Financial charges
+€264,149
Taxes
-€43,779
Result 2025
€4.7m
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.
From operations
+€7.9m
Investment
-€6.6m
Financing
-€1.1m
Cash 2024
€645,450
From operations (derived)
+€7.9m
Net result for the year
+€4.7m
Depreciation
+€25,813
Receivables within one year
-€13.4m
Smaller working-capital items
+€17,250
Trade debts
-€70,213
Other debts
+€16.6m
Investment (derived)
-€6.6m
Investment in fixed assets (net)
-€5.5m
Current investments
-€1.2m
Financing
-€1.1m
Debts after one year
-€1.1m
Short-term financial debts
+€40,042
Contributions, distributions and other
-€65,000
Cash 2025
€810,449
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,877,796 | €34,020,217 | +€20.1m | +145.1% |
| Fixed assets | 21/28 | €11,368,582 | €16,838,363 | +€5.5m | +48.1% |
| Tangible fixed assets | 22/27 | €57,337 | €34,251 | -€23,086 | -40.3% |
| Furniture and vehicles | 24 | €57,337 | €34,251 | -€23,086 | -40.3% |
| Financial fixed assets | 28 | €11,311,245 | €16,804,112 | +€5.5m | +48.6% |
| Affiliated companies | 280/1 | €11,311,245 | €16,804,112 | +€5.5m | +48.6% |
| Participating interests | 280 | €11,311,245 | €16,804,112 | +€5.5m | +48.6% |
| Current assets | 29/58 | €2,509,214 | €17,181,853 | +€14.7m | +584.8% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €1,863,545 | €15,219,845 | +€13.4m | +716.7% |
| Trade receivables | 40 | €166,989 | €16,471 | -€150,518 | -90.1% |
| Other amounts receivable | 41 | €1,696,556 | €15,203,374 | +€13.5m | +796.1% |
| Current investments | 50/53 | - | €1,151,357 | +€1.2m | |
| Other investments | 51/53 | - | €1,151,357 | +€1.2m | |
| Cash at bank and in hand | 54/58 | €645,450 | €810,449 | +€164,999 | +25.6% |
| Deferred charges and accrued income | 490/1 | €219 | €203 | -€16 | -7.2% |
| Total equity and liabilities | 10/49 | €13,877,796 | €34,020,217 | +€20.1m | +145.1% |
| Equity | 10/15 | €1,242,595 | €5,891,740 | +€4.6m | +374.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €799,900 | €1,759,780 | +€959,880 | +120.0% |
| Tax-exempt reserves | 132 | €799,900 | €1,759,780 | +€959,880 | +120.0% |
| Profit (loss) carried forward | 14 | €424,145 | €4,113,410 | +€3.7m | +869.8% |
| Amounts payable | 17/49 | €12,635,201 | €28,128,476 | +€15.5m | +122.6% |
| Amounts payable after more than one year | 17 | €9,461,895 | €8,355,435 | -€1.1m | -11.7% |
| Financial debts | 170/4 | €9,461,895 | €8,355,435 | -€1.1m | -11.7% |
| Subordinated loans | 170 | €575,000 | €575,000 | = | 0.0% |
| Credit institutions | 173 | €4,886,895 | €3,780,435 | -€1.1m | -22.6% |
| Other loans | 174 | €4,000,000 | €4,000,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €3,121,681 | €19,707,916 | +€16.6m | +531.3% |
| Current portion of amounts payable after more than one year | 42 | €1,106,460 | €1,106,460 | = | 0.0% |
| Financial debts | 43 | €10,189 | €50,230 | +€40,042 | +393.0% |
| Credit institutions | 430/8 | €10,189 | €50,230 | +€40,042 | +393.0% |
| Trade debts | 44 | €357,344 | €287,130 | -€70,213 | -19.6% |
| Suppliers | 440/4 | €357,344 | €287,130 | -€70,213 | -19.6% |
| Taxes, remuneration and social security | 45 | €109,587 | €113,321 | +€3,734 | +3.4% |
| Taxes | 450/3 | €21,264 | €7,719 | -€13,545 | -63.7% |
| Remuneration and social security | 454/9 | €88,323 | €105,602 | +€17,279 | +19.6% |
| Other amounts payable | 47/48 | €1,538,102 | €18,150,774 | +€16.6m | +1080.1% |
| Accrued charges and deferred income | 492/3 | €51,625 | €65,125 | +€13,500 | +26.2% |
| Operating income | 70/76A | €3,878,025 | €3,839,206 | -€38,818 | -1.0% |
| Turnover | 70 | €3,763,409 | €3,720,118 | -€43,291 | -1.2% |
| Other operating income | 74 | €114,615 | €119,088 | +€4,473 | +3.9% |
| Operating charges | 60/66A | €1,105,246 | €1,011,785 | -€93,461 | -8.5% |
| Services and other goods | 61 | €481,430 | €371,668 | -€109,762 | -22.8% |
| Remuneration, social security and pensions | 62 | €597,678 | €612,527 | +€14,850 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,460 | €25,813 | +€353 | +1.4% |
| Other operating charges | 640/8 | €678 | €1,777 | +€1,098 | +161.9% |
| Operating profit (loss) | 9901 | €2,772,778 | €2,827,421 | +€54,643 | +2.0% |
| Financial income | 75/76B | €10,554 | €2,659,518 | +€2.6m | +25099.3% |
| Recurring financial income | 75 | €10,554 | €36,258 | +€25,704 | +243.6% |
| Income from current assets | 751 | €10,554 | €36,258 | +€25,704 | +243.6% |
| Non-recurring financial income | 76B | - | €2,623,260 | +€2.6m | |
| Financial charges | 65/66B | €652,121 | €387,971 | -€264,149 | -40.5% |
| Recurring financial charges | 65 | €652,121 | €387,971 | -€264,149 | -40.5% |
| Debt charges | 650 | €648,245 | €379,333 | -€268,912 | -41.5% |
| Other financial charges | 652/9 | €3,876 | €8,638 | +€4,762 | +122.9% |
| Profit (loss) for the period before taxes | 9903 | €2,131,212 | €5,098,968 | +€3.0m | +139.3% |
| Income taxes | 67/77 | €341,044 | €384,823 | +€43,779 | +12.8% |
| Taxes | 670/3 | €341,044 | €384,823 | +€43,779 | +12.8% |
| Profit (loss) for the period | 9904 | €1,790,168 | €4,714,146 | +€2.9m | +163.3% |
| Transfer to tax-exempt reserves | 689 | €799,900 | €959,880 | +€159,980 | +20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €990,268 | €3,754,266 | +€2.8m | +279.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.