ORNAMENTI: 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.
ORNAMENTI
Largest movements
- Stocks and contracts +€166,084
up €166,084 (+33.5%), from €495,274 to €661,358
- Cash -€81,716
down €81,716 (-28.0%), from €291,748 to €210,032
mainly Stocks and contracts (-€166,084) and Current portion of long-term debt (-€130,849)
- Tangible fixed assets -€10,306
down €10,306 (-48.6%), from €21,194 to €10,887
of which Other tangible fixed assets: -€7,857
- Reserves +€153,140
up €153,140 (+28.4%), from €539,860 to €693,000
- Current portion of long-term debt -€130,849
down €130,849 (-51.7%), from €252,890 to €122,041
- Tax, wage and social debts +€46,478
up €46,478 (+335.8%), from €13,839 to €60,318
of which Taxes: +€47,656
- Trade debts +€17,390
up €17,390 (+467.2%), from €3,722 to €21,112
- Gross operating margin +€103,378
up €103,378 (+55.9%), from €185,014 to €288,391
- Taxes +€42,033
up €42,033 (+172.1%), from €24,429 to €66,462
- Staff costs +€9,328
up €9,328 (+20.9%), from €44,619 to €53,947
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 | €824,413 | €904,707 | +€80,294 | +9.7% |
| Fixed assets | 21/28 | €24,964 | €14,957 | -€10,006 | -40.1% |
| Intangible fixed assets | 21 | €2,715 | €2,715 | = | 0.0% |
| Tangible fixed assets | 22/27 | €21,194 | €10,887 | -€10,306 | -48.6% |
| Plant, machinery and equipment | 23 | €1,752 | €965 | -€787 | -44.9% |
| Furniture and vehicles | 24 | €2,236 | €575 | -€1,662 | -74.3% |
| Other tangible fixed assets | 26 | €17,205 | €9,348 | -€7,857 | -45.7% |
| Financial fixed assets | 28 | €1,055 | €1,355 | +€300 | +28.4% |
| Current assets | 29/58 | €799,450 | €889,750 | +€90,300 | +11.3% |
| Stocks and contracts in progress | 3 | €495,274 | €661,358 | +€166,084 | +33.5% |
| Stocks | 30/36 | €495,274 | €661,358 | +€166,084 | +33.5% |
| Amounts receivable within one year | 40/41 | €247 | €1,345 | +€1,098 | +443.9% |
| Trade receivables | 40 | €247 | €1,345 | +€1,098 | +443.9% |
| Cash at bank and in hand | 54/58 | €291,748 | €210,032 | -€81,716 | -28.0% |
| Deferred charges and accrued income | 490/1 | €12,180 | €17,015 | +€4,835 | +39.7% |
| Total equity and liabilities | 10/49 | €824,413 | €904,707 | +€80,294 | +9.7% |
| Equity | 10/15 | €550,593 | €701,236 | +€150,643 | +27.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €539,860 | €693,000 | +€153,140 | +28.4% |
| Distributable reserves | 133 | €539,860 | €693,000 | +€153,140 | +28.4% |
| Profit (loss) carried forward | 14 | €4,533 | €2,036 | -€2,497 | -55.1% |
| Amounts payable | 17/49 | €273,820 | €203,471 | -€70,349 | -25.7% |
| Amounts payable within one year | 42/48 | €270,451 | €203,471 | -€66,980 | -24.8% |
| Current portion of amounts payable after more than one year | 42 | €252,890 | €122,041 | -€130,849 | -51.7% |
| Trade debts | 44 | €3,722 | €21,112 | +€17,390 | +467.2% |
| Suppliers | 440/4 | €3,722 | €21,112 | +€17,390 | +467.2% |
| Taxes, remuneration and social security | 45 | €13,839 | €60,318 | +€46,478 | +335.8% |
| Taxes | 450/3 | €5,445 | €53,101 | +€47,656 | +875.2% |
| Remuneration and social security | 454/9 | €8,394 | €7,217 | -€1,177 | -14.0% |
| Accrued charges and deferred income | 492/3 | €3,369 | - | -€3,369 | |
| Remuneration, social security and pensions | 62 | €44,619 | €53,947 | +€9,328 | +20.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,772 | €10,306 | -€465 | -4.3% |
| Other operating charges | 640/8 | €2,627 | €3,541 | +€914 | +34.8% |
| Non-recurring operating charges | 66A | €34,326 | €227 | -€34,100 | -99.3% |
| Gross operating margin | 9900 | €185,014 | €288,391 | +€103,378 | +55.9% |
| Operating profit (loss) | 9901 | €92,670 | €220,371 | +€127,701 | +137.8% |
| Financial income | 75/76B | €30 | €268 | +€238 | +790.9% |
| Recurring financial income | 75 | €30 | €268 | +€238 | +790.9% |
| Financial charges | 65/66B | €4,194 | €3,534 | -€660 | -15.7% |
| Recurring financial charges | 65 | €4,194 | €3,534 | -€660 | -15.7% |
| Profit (loss) for the period before taxes | 9903 | €88,506 | €217,105 | +€128,599 | +145.3% |
| Income taxes | 67/77 | €24,429 | €66,462 | +€42,033 | +172.1% |
| Profit (loss) for the period | 9904 | €64,077 | €150,643 | +€86,566 | +135.1% |
| Profit (loss) for the period to be appropriated | 9905 | €64,077 | €150,643 | +€86,566 | +135.1% |
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 8 October 2026 via checked.be.