ORLAY: 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.
ORLAY
Largest movements
- Current investments +€762,986
up €762,986 (+13.9%), from €5.5m to €6.3m
- Financial fixed assets +€505,002
up €505,002 (+48.1%), from €1.1m to €1.6m
- Reserves +€970,739
up €970,739 (+22.2%), from €4.4m to €5.3m
of which Distributable reserves: +€970,739
- Tax, wage and social debts +€130,365
new in 2025: €130,365
- Financial charges -€1.7m
down €1.7m (-98.9%), from €1.8m to €20,055
of which Non-recurring financial charges: -€1.8m
- Financial income +€968,450
up €968,450 (+430.4%), from €225,022 to €1.2m
of which Financial income: +€513,450
- Taxes +€177,149
up €177,149 (+1593.0%), from €11,120 to €188,269
- Depreciation -€18,444
down €18,444 (-77.2%), from €23,883 to €5,438
- Gross operating margin -€7,406
down €7,406 (-48.7%), from €15,219 to €7,813
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 | €7,575,222 | €8,644,971 | +€1.1m | +14.1% |
| Fixed assets | 21/28 | €1,894,153 | €2,319,216 | +€425,063 | +22.4% |
| Tangible fixed assets | 22/27 | €844,152 | €764,213 | -€79,938 | -9.5% |
| Land and buildings | 22 | €275,800 | €271,380 | -€4,420 | -1.6% |
| Plant, machinery and equipment | 23 | €490,593 | €490,593 | = | 0.0% |
| Furniture and vehicles | 24 | €77,759 | €2,240 | -€75,518 | -97.1% |
| Financial fixed assets | 28 | €1,050,002 | €1,555,003 | +€505,002 | +48.1% |
| Current assets | 29/58 | €5,681,069 | €6,325,755 | +€644,686 | +11.3% |
| Amounts receivable within one year | 40/41 | €87,207 | €51,495 | -€35,713 | -41.0% |
| Trade receivables | 40 | €7,260 | - | -€7,260 | |
| Other amounts receivable | 41 | €79,947 | €51,495 | -€28,453 | -35.6% |
| Current investments | 50/53 | €5,505,090 | €6,268,076 | +€762,986 | +13.9% |
| Cash at bank and in hand | 54/58 | €86,421 | €5,515 | -€80,906 | -93.6% |
| Deferred charges and accrued income | 490/1 | €2,350 | €669 | -€1,681 | -71.5% |
| Total equity and liabilities | 10/49 | €7,575,222 | €8,644,971 | +€1.1m | +14.1% |
| Equity | 10/15 | €7,541,751 | €8,512,490 | +€970,739 | +12.9% |
| Contributions | 10/11 | €3,177,130 | €3,177,130 | = | 0.0% |
| Capital | 10 | €3,177,130 | €3,177,130 | = | 0.0% |
| Issued capital | 100 | €3,177,130 | €3,177,130 | = | 0.0% |
| Reserves | 13 | €4,364,621 | €5,335,360 | +€970,739 | +22.2% |
| Non-distributable reserves | 130/1 | €317,713 | €317,713 | = | 0.0% |
| Legal reserve | 130 | €317,713 | €317,713 | = | 0.0% |
| Distributable reserves | 133 | €4,046,908 | €5,017,647 | +€970,739 | +24.0% |
| Amounts payable | 17/49 | €33,471 | €132,481 | +€99,010 | +295.8% |
| Amounts payable within one year | 42/48 | €32,733 | €132,475 | +€99,742 | +304.7% |
| Trade debts | 44 | €2,459 | €2,111 | -€349 | -14.2% |
| Suppliers | 440/4 | €2,459 | €2,111 | -€349 | -14.2% |
| Taxes, remuneration and social security | 45 | - | €130,365 | +€130,365 | |
| Taxes | 450/3 | - | €130,365 | +€130,365 | |
| Other amounts payable | 47/48 | €30,274 | - | -€30,274 | |
| Accrued charges and deferred income | 492/3 | €738 | €6 | -€732 | -99.2% |
| Non-recurring operating income | 76A | €3,614 | - | -€3,614 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,883 | €5,438 | -€18,444 | -77.2% |
| Other operating charges | 640/8 | €3,974 | €4,335 | +€361 | +9.1% |
| Non-recurring operating charges | 66A | - | €12,449 | +€12,449 | |
| Gross operating margin | 9900 | €15,219 | €7,813 | -€7,406 | -48.7% |
| Operating profit (loss) | 9901 | -€12,638 | -€14,409 | -€1,771 | -14.0% |
| Financial income | 75/76B | €225,022 | €1,193,472 | +€968,450 | +430.4% |
| Recurring financial income | 75 | €225,022 | €738,472 | +€513,450 | +228.2% |
| Non-recurring financial income | 76B | - | €455,000 | +€455,000 | |
| Financial charges | 65/66B | €1,763,290 | €20,055 | -€1.7m | -98.9% |
| Recurring financial charges | 65 | -€1,840 | €20,055 | +€21,895 | |
| Non-recurring financial charges | 66B | €1,765,130 | - | -€1.8m | |
| Profit (loss) for the period before taxes | 9903 | -€1,550,906 | €1,159,008 | +€2.7m | |
| Income taxes | 67/77 | €11,120 | €188,269 | +€177,149 | +1593.0% |
| Profit (loss) for the period | 9904 | -€1,562,026 | €970,739 | +€2.5m | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,562,026 | €970,739 | +€2.5m |
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 4 October 2026 via checked.be.