ORKHON: 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.
ORKHON
Largest movements
- Receivables within one year -€111,154
down €111,154 (-20.0%), from €556,296 to €445,142
of which Other amounts receivable: -€173,750
- Deferred charges and accrued income -€13,801
down €13,801 (-33.0%), from €41,768 to €27,968
- Trade debts -€124,183
down €124,183 (-69.0%), from €180,046 to €55,863
of which Suppliers: -€132,521
- Reserves -€59,504
down €59,504 (-21.1%), from €282,160 to €222,656
of which Distributable reserves: -€59,504
- Tax, wage and social debts +€57,662
up €57,662 (+43.0%), from €134,044 to €191,706
of which Taxes: +€50,845
- Gross operating margin +€132,617
up €132,617 (+59.4%), from €223,195 to €355,812
- Taxes +€46,584
up €46,584 (+239.7%), from €19,435 to €66,019
- Staff costs -€14,813
down €14,813 (-9.7%), from €152,002 to €137,190
- Other operating charges +€6,623
up €6,623 (+76.4%), from €8,665 to €15,288
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 | €619,873 | €493,142 | -€126,732 | -20.4% |
| Fixed assets | 21/28 | €990 | €139 | -€851 | -86.0% |
| Tangible fixed assets | 22/27 | €940 | €89 | -€851 | -90.5% |
| Furniture and vehicles | 24 | €940 | €89 | -€851 | -90.5% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €618,883 | €493,003 | -€125,881 | -20.3% |
| Stocks and contracts in progress | 3 | €1,145 | €4,954 | +€3,810 | +332.8% |
| Stocks | 30/36 | €1,145 | €4,954 | +€3,810 | +332.8% |
| Amounts receivable within one year | 40/41 | €556,296 | €445,142 | -€111,154 | -20.0% |
| Trade receivables | 40 | €176,569 | €239,165 | +€62,596 | +35.5% |
| Other amounts receivable | 41 | €379,728 | €205,977 | -€173,750 | -45.8% |
| Cash at bank and in hand | 54/58 | €19,674 | €14,939 | -€4,735 | -24.1% |
| Deferred charges and accrued income | 490/1 | €41,768 | €27,968 | -€13,801 | -33.0% |
| Total equity and liabilities | 10/49 | €619,873 | €493,142 | -€126,732 | -20.4% |
| Equity | 10/15 | €304,149 | €244,645 | -€59,504 | -19.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €282,160 | €222,656 | -€59,504 | -21.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €282,160 | €222,656 | -€59,504 | -21.1% |
| Profit (loss) carried forward | 14 | €15,789 | €15,789 | = | 0.0% |
| Amounts payable | 17/49 | €315,725 | €248,497 | -€67,228 | -21.3% |
| Amounts payable within one year | 42/48 | €314,090 | €247,569 | -€66,521 | -21.2% |
| Trade debts | 44 | €180,046 | €55,863 | -€124,183 | -69.0% |
| Suppliers | 440/4 | €178,014 | €45,493 | -€132,521 | -74.4% |
| Bills of exchange payable | 441 | €2,032 | €10,370 | +€8,338 | +410.3% |
| Taxes, remuneration and social security | 45 | €134,044 | €191,706 | +€57,662 | +43.0% |
| Taxes | 450/3 | €64,557 | €115,402 | +€50,845 | +78.8% |
| Remuneration and social security | 454/9 | €69,487 | €76,304 | +€6,817 | +9.8% |
| Accrued charges and deferred income | 492/3 | €1,635 | €928 | -€706 | -43.2% |
| Remuneration, social security and pensions | 62 | €152,002 | €137,190 | -€14,813 | -9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €851 | €851 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€2,400 | -€2,400 | |
| Other operating charges | 640/8 | €8,665 | €15,288 | +€6,623 | +76.4% |
| Gross operating margin | 9900 | €223,195 | €355,812 | +€132,617 | +59.4% |
| Operating profit (loss) | 9901 | €61,677 | €204,883 | +€143,207 | +232.2% |
| Financial income | 75/76B | €25 | €10 | -€15 | -61.8% |
| Recurring financial income | 75 | €25 | €10 | -€15 | -61.8% |
| Financial charges | 65/66B | €12,763 | €12,879 | +€115 | +0.9% |
| Recurring financial charges | 65 | €12,763 | €12,879 | +€115 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | €48,938 | €192,014 | +€143,076 | +292.4% |
| Income taxes | 67/77 | €19,435 | €66,019 | +€46,584 | +239.7% |
| Profit (loss) for the period | 9904 | €29,503 | €125,996 | +€96,492 | +327.1% |
| Profit (loss) for the period to be appropriated | 9905 | €29,503 | €125,996 | +€96,492 | +327.1% |
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 9 October 2026 via checked.be.