Orion Pax: 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.
Orion Pax
Largest movements
- Current investments +€100,000
up €100,000 (+33.3%), from €300,000 to €400,000
- Deferred charges and accrued income -€63,386
down €63,386 (-94.6%), from €66,979 to €3,592
- Receivables within one year -€56,429
no longer reported in 2025 (was €56,429)
- Cash +€28,480
up €28,480 (+52.6%), from €54,179 to €82,659
mainly Deferred charges and accrued income (+€63,386) and Receivables within one year (+€56,429)
- Tangible fixed assets +€15,223
up €15,223 (+88.0%), from €17,305 to €32,528
of which Furniture and vehicles: +€15,223
- Profit (loss) carried forward +€23,456
up €23,456 (+4.7%), from €494,253 to €517,709
- Gross operating margin -€387,980
down €387,980 (-92.5%), from €419,560 to €31,580
- Taxes -€94,525
down €94,525 (-93.4%), from €101,211 to €6,687
- Depreciation +€4,318
up €4,318 (+765%), from €564 to €4,882
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 | €494,892 | €518,779 | +€23,887 | +4.8% |
| Fixed assets | 21/28 | €17,305 | €32,528 | +€15,223 | +88.0% |
| Tangible fixed assets | 22/27 | €17,305 | €32,528 | +€15,223 | +88.0% |
| Furniture and vehicles | 24 | €1,305 | €16,528 | +€15,223 | +1,167% |
| Other tangible fixed assets | 26 | €16,000 | €16,000 | = | 0.0% |
| Current assets | 29/58 | €477,587 | €486,251 | +€8,664 | +1.8% |
| Amounts receivable within one year | 40/41 | €56,429 | - | -€56,429 | |
| Other amounts receivable | 41 | €56,429 | - | -€56,429 | |
| Current investments | 50/53 | €300,000 | €400,000 | +€100,000 | +33.3% |
| Cash at bank and in hand | 54/58 | €54,179 | €82,659 | +€28,480 | +52.6% |
| Deferred charges and accrued income | 490/1 | €66,979 | €3,592 | -€63,386 | -94.6% |
| Total equity and liabilities | 10/49 | €494,892 | €518,779 | +€23,887 | +4.8% |
| Equity | 10/15 | €494,753 | €518,209 | +€23,456 | +4.7% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €494,253 | €517,709 | +€23,456 | +4.7% |
| Amounts payable | 17/49 | €138 | €570 | +€431 | +312% |
| Amounts payable within one year | 42/48 | €138 | €570 | +€431 | +312% |
| Trade debts | 44 | €138 | - | -€138 | |
| Suppliers | 440/4 | €138 | - | -€138 | |
| Taxes, remuneration and social security | 45 | - | €570 | +€570 | |
| Taxes | 450/3 | - | €570 | +€570 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €564 | €4,882 | +€4,318 | +765% |
| Other operating charges | 640/8 | - | €233 | +€233 | |
| Gross operating margin | 9900 | €419,560 | €31,580 | -€387,980 | -92.5% |
| Operating profit (loss) | 9901 | €418,996 | €26,464 | -€392,531 | -93.7% |
| Financial income | 75/76B | €5,865 | €3,723 | -€2,142 | -36.5% |
| Recurring financial income | 75 | €5,865 | €3,723 | -€2,142 | -36.5% |
| Financial charges | 65/66B | €27 | €45 | +€18 | +66.9% |
| Recurring financial charges | 65 | €27 | €45 | +€18 | +66.9% |
| Profit (loss) for the period before taxes | 9903 | €424,834 | €30,143 | -€394,691 | -92.9% |
| Income taxes | 67/77 | €101,211 | €6,687 | -€94,525 | -93.4% |
| Profit (loss) for the period | 9904 | €323,622 | €23,456 | -€300,166 | -92.8% |
| Profit (loss) for the period to be appropriated | 9905 | €323,622 | €23,456 | -€300,166 | -92.8% |
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 28 October 2026 via checked.be.