ORFEY: 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.
ORFEY
Largest movements
- Tangible fixed assets +€11,035
up €11,035 (+339.1%), from €3,254 to €14,289
of which Furniture and vehicles: +€6,036
- Stocks and contracts -€6,746
down €6,746 (-100.0%), from €6,746 to €0
- Receivables within one year +€1,792
up €1,792 (+19.2%), from €9,342 to €11,134
- Deferred charges and accrued income -€664
down €664 (-100.0%), from €664 to €0
- Cash -€398
down €398 (-43.8%), from €908 to €510
mainly Current portion of long-term debt (-€17,383) and Investment in fixed assets (net) (-€16,215)
- Other debts +€30,888
up €30,888 (+118.4%), from €26,090 to €56,978
- Current portion of long-term debt -€17,383
down €17,383 (-100.0%), from €17,383 to €0
- Profit (loss) carried forward -€5,373
down €5,373 (-11.0%), from -€48,958 to -€54,331
- Trade debts -€3,665
down €3,665 (-48.2%), from €7,607 to €3,942
- Tax, wage and social debts +€525
up €525 (+33.7%), from €1,561 to €2,087
- Gross operating margin +€13,880
up €13,880, from -€10,136 to €3,744
- Depreciation -€2,399
down €2,399 (-31.5%), from €7,619 to €5,220
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 | €22,250 | €27,229 | +€4,979 | +22.4% |
| Fixed assets | 21/28 | €4,590 | €15,585 | +€10,995 | +239.5% |
| Tangible fixed assets | 22/27 | €3,254 | €14,289 | +€11,035 | +339.1% |
| Furniture and vehicles | 24 | €3,254 | €9,290 | +€6,036 | +185.5% |
| Other tangible fixed assets | 26 | - | €4,999 | +€4,999 | |
| Financial fixed assets | 28 | €1,336 | €1,296 | -€40 | -3.0% |
| Current assets | 29/58 | €17,660 | €11,644 | -€6,016 | -34.1% |
| Stocks and contracts in progress | 3 | €6,746 | €0 | -€6,746 | -100.0% |
| Stocks | 30/36 | €6,746 | €0 | -€6,746 | -100.0% |
| Amounts receivable within one year | 40/41 | €9,342 | €11,134 | +€1,792 | +19.2% |
| Trade receivables | 40 | €9,342 | €11,134 | +€1,792 | +19.2% |
| Cash at bank and in hand | 54/58 | €908 | €510 | -€398 | -43.8% |
| Deferred charges and accrued income | 490/1 | €664 | €0 | -€664 | -100.0% |
| Total equity and liabilities | 10/49 | €22,250 | €27,229 | +€4,979 | +22.4% |
| Equity | 10/15 | -€34,698 | -€40,071 | -€5,373 | -15.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€48,958 | -€54,331 | -€5,373 | -11.0% |
| Amounts payable | 17/49 | €56,948 | €67,301 | +€10,352 | +18.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €56,948 | €67,301 | +€10,352 | +18.2% |
| Current portion of amounts payable after more than one year | 42 | €17,383 | €0 | -€17,383 | -100.0% |
| Financial debts | 43 | €4,307 | €4,293 | -€14 | -0.3% |
| Credit institutions | 430/8 | €4,307 | €4,293 | -€14 | -0.3% |
| Trade debts | 44 | €7,607 | €3,942 | -€3,665 | -48.2% |
| Suppliers | 440/4 | €7,607 | €3,942 | -€3,665 | -48.2% |
| Taxes, remuneration and social security | 45 | €1,561 | €2,087 | +€525 | +33.7% |
| Taxes | 450/3 | €1,561 | €2,087 | +€525 | +33.7% |
| Other amounts payable | 47/48 | €26,090 | €56,978 | +€30,888 | +118.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,619 | €5,220 | -€2,399 | -31.5% |
| Other operating charges | 640/8 | €1,429 | €1,505 | +€76 | +5.3% |
| Non-recurring operating charges | 66A | - | €1,501 | +€1,501 | |
| Gross operating margin | 9900 | -€10,136 | €3,744 | +€13,880 | |
| Operating profit (loss) | 9901 | -€19,184 | -€4,482 | +€14,702 | +76.6% |
| Financial income | 75/76B | €1 | €65 | +€64 | +8398.7% |
| Recurring financial income | 75 | €1 | €65 | +€64 | +8398.7% |
| Financial charges | 65/66B | €1,013 | €956 | -€57 | -5.6% |
| Recurring financial charges | 65 | €1,013 | €956 | -€57 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | -€20,196 | -€5,373 | +€14,823 | +73.4% |
| Profit (loss) for the period | 9904 | -€20,196 | -€5,373 | +€14,823 | +73.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,196 | -€5,373 | +€14,823 | +73.4% |
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.