ORNAMENTO: 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.
ORNAMENTO
Largest movements
- Receivables within one year +€26,874
up €26,874 (+24.4%), from €110,017 to €136,890
of which Trade receivables: +€71,127
- Tangible fixed assets -€4,473
down €4,473 (-6.8%), from €65,913 to €61,439
- Financial fixed assets -€2,250
no longer reported in 2025 (was €2,250)
- Cash +€2,120
up €2,120 (+56.7%), from €3,740 to €5,860
mainly Net result for the year (+€26,605) and Trade debts (+€14,075)
- Reserves +€26,605
up €26,605 (+47.5%), from €55,988 to €82,593
- Trade debts +€14,075
up €14,075 (+122%), from €11,579 to €25,654
- Debts after one year -€12,459
down €12,459 (-21.8%), from €57,144 to €44,685
- Tax, wage and social debts -€9,519
down €9,519 (-58.8%), from €16,190 to €6,670
of which Taxes: -€8,508
- Other debts +€4,981
new in 2025: €4,981
- Staff costs +€4,311
up €4,311 (+5.8%), from €74,295 to €78,605
- Gross operating margin -€3,624
down €3,624 (-2.8%), from €130,098 to €126,475
- Taxes +€2,142
up €2,142 (+425%), from €504 to €2,646
- Depreciation -€1,586
down €1,586 (-18.4%), from €8,609 to €7,023
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 | €184,585 | €206,190 | +€21,605 | +11.7% |
| Fixed assets | 21/28 | €68,163 | €61,439 | -€6,723 | -9.9% |
| Tangible fixed assets | 22/27 | €65,913 | €61,439 | -€4,473 | -6.8% |
| Land and buildings | 22 | €52,416 | €50,400 | -€2,017 | -3.8% |
| Plant, machinery and equipment | 23 | €4,448 | €2,915 | -€1,533 | -34.5% |
| Furniture and vehicles | 24 | €9,048 | €8,124 | -€924 | -10.2% |
| Financial fixed assets | 28 | €2,250 | - | -€2,250 | |
| Current assets | 29/58 | €116,422 | €144,750 | +€28,328 | +24.3% |
| Stocks and contracts in progress | 3 | €2,000 | €2,000 | = | 0.0% |
| Stocks | 30/36 | €2,000 | €2,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €110,017 | €136,890 | +€26,874 | +24.4% |
| Trade receivables | 40 | €62,780 | €133,907 | +€71,127 | +113% |
| Other amounts receivable | 41 | €47,237 | €2,983 | -€44,253 | -93.7% |
| Cash at bank and in hand | 54/58 | €3,740 | €5,860 | +€2,120 | +56.7% |
| Deferred charges and accrued income | 490/1 | €666 | - | -€666 | |
| Total equity and liabilities | 10/49 | €184,585 | €206,190 | +€21,605 | +11.7% |
| Equity | 10/15 | €85,136 | €111,741 | +€26,605 | +31.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €55,988 | €82,593 | +€26,605 | +47.5% |
| Distributable reserves | 133 | €55,988 | €82,593 | +€26,605 | +47.5% |
| Profit (loss) carried forward | 14 | €16,748 | €16,748 | = | 0.0% |
| Amounts payable | 17/49 | €99,449 | €94,449 | -€5,000 | -5.0% |
| Amounts payable after more than one year | 17 | €57,144 | €44,685 | -€12,459 | -21.8% |
| Financial debts | 170/4 | €57,144 | €44,685 | -€12,459 | -21.8% |
| Amounts payable within one year | 42/48 | €42,305 | €49,763 | +€7,458 | +17.6% |
| Current portion of amounts payable after more than one year | 42 | €14,536 | €12,459 | -€2,078 | -14.3% |
| Trade debts | 44 | €11,579 | €25,654 | +€14,075 | +122% |
| Suppliers | 440/4 | €11,579 | €25,654 | +€14,075 | +122% |
| Taxes, remuneration and social security | 45 | €16,190 | €6,670 | -€9,519 | -58.8% |
| Taxes | 450/3 | €11,313 | €2,805 | -€8,508 | -75.2% |
| Remuneration and social security | 454/9 | €4,877 | €3,866 | -€1,011 | -20.7% |
| Other amounts payable | 47/48 | - | €4,981 | +€4,981 | |
| Non-recurring operating income | 76A | - | €3,642 | +€3,642 | |
| Remuneration, social security and pensions | 62 | €74,295 | €78,605 | +€4,311 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,609 | €7,023 | -€1,586 | -18.4% |
| Other operating charges | 640/8 | €3,287 | €2,513 | -€774 | -23.6% |
| Non-recurring operating charges | 66A | €44,024 | €4,255 | -€39,769 | -90.3% |
| Gross operating margin | 9900 | €130,098 | €126,475 | -€3,624 | -2.8% |
| Operating profit (loss) | 9901 | -€117 | €34,079 | +€34,196 | |
| Financial income | 75/76B | €2,575 | €1,417 | -€1,158 | -45.0% |
| Recurring financial income | 75 | €2,575 | €1,417 | -€1,158 | -45.0% |
| Financial charges | 65/66B | €6,568 | €6,245 | -€322 | -4.9% |
| Recurring financial charges | 65 | €6,568 | €6,245 | -€322 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | -€4,110 | €29,251 | +€33,360 | |
| Income taxes | 67/77 | €504 | €2,646 | +€2,142 | +425% |
| Profit (loss) for the period | 9904 | -€4,613 | €26,605 | +€31,218 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,613 | €26,605 | +€31,218 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.