ORNARE: 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.
ORNARE
Largest movements
- Receivables within one year +€7,981
up €7,981 (+43.0%), from €18,580 to €26,561
of which Trade receivables: +€7,338
- Tangible fixed assets -€7,229
down €7,229 (-46.5%), from €15,533 to €8,304
of which Furniture and vehicles: -€7,403
- Deferred charges and accrued income -€5,188
down €5,188 (-38.7%), from €13,406 to €8,218
- Cash -€4,867
down €4,867 (-7.0%), from €69,213 to €64,346
mainly Contributions, distributions and other (-€39,388) and Receivables within one year (-€7,981)
- Reserves -€13,899
down €13,899 (-9.4%), from €148,292 to €134,392
of which Distributable reserves: -€13,899
- Other debts +€4,048
up €4,048 (+85.4%), from €4,739 to €8,787
- Financial income +€5,864
up €5,864 (+225%), from €2,606 to €8,470
- Gross operating margin -€1,387
down €1,387 (-3.4%), from €40,867 to €39,480
- Taxes +€1,140
up €1,140 (+13.0%), from €8,757 to €9,898
- Depreciation -€592
down €592 (-6.3%), from €9,434 to €8,842
- Financial charges -€516
down €516 (-19.8%), from €2,612 to €2,096
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €177,915 | €168,612 | -€9,303 | -5.2% |
| Fixed assets | 21/28 | €15,533 | €8,304 | -€7,229 | -46.5% |
| Tangible fixed assets | 22/27 | €15,533 | €8,304 | -€7,229 | -46.5% |
| Plant, machinery and equipment | 23 | €2,787 | €2,961 | +€174 | +6.2% |
| Furniture and vehicles | 24 | €12,746 | €5,343 | -€7,403 | -58.1% |
| Current assets | 29/58 | €162,381 | €160,308 | -€2,074 | -1.3% |
| Amounts receivable within one year | 40/41 | €18,580 | €26,561 | +€7,981 | +43.0% |
| Trade receivables | 40 | €18,580 | €25,918 | +€7,338 | +39.5% |
| Other amounts receivable | 41 | - | €643 | +€643 | |
| Current investments | 50/53 | €61,183 | €61,183 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €69,213 | €64,346 | -€4,867 | -7.0% |
| Deferred charges and accrued income | 490/1 | €13,406 | €8,218 | -€5,188 | -38.7% |
| Total equity and liabilities | 10/49 | €177,915 | €168,612 | -€9,303 | -5.2% |
| Equity | 10/15 | €166,892 | €152,992 | -€13,899 | -8.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €148,292 | €134,392 | -€13,899 | -9.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €146,432 | €132,532 | -€13,899 | -9.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €11,023 | €15,620 | +€4,597 | +41.7% |
| Amounts payable within one year | 42/48 | €11,023 | €15,620 | +€4,597 | +41.7% |
| Trade debts | 44 | €698 | €1,304 | +€606 | +86.8% |
| Suppliers | 440/4 | €698 | €1,304 | +€606 | +86.8% |
| Taxes, remuneration and social security | 45 | €5,586 | €5,529 | -€57 | -1.0% |
| Taxes | 450/3 | €5,586 | €5,529 | -€57 | -1.0% |
| Other amounts payable | 47/48 | €4,739 | €8,787 | +€4,048 | +85.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,434 | €8,842 | -€592 | -6.3% |
| Other operating charges | 640/8 | €1,130 | €1,404 | +€274 | +24.2% |
| Non-recurring operating charges | 66A | €200 | €222 | +€22 | +11.0% |
| Gross operating margin | 9900 | €40,867 | €39,480 | -€1,387 | -3.4% |
| Operating profit (loss) | 9901 | €30,103 | €29,012 | -€1,091 | -3.6% |
| Financial income | 75/76B | €2,606 | €8,470 | +€5,864 | +225% |
| Recurring financial income | 75 | €2,606 | €8,470 | +€5,864 | +225% |
| Financial charges | 65/66B | €2,612 | €2,096 | -€516 | -19.8% |
| Recurring financial charges | 65 | €2,612 | €2,096 | -€516 | -19.8% |
| Profit (loss) for the period before taxes | 9903 | €30,097 | €35,386 | +€5,289 | +17.6% |
| Income taxes | 67/77 | €8,757 | €9,898 | +€1,140 | +13.0% |
| Profit (loss) for the period | 9904 | €21,340 | €25,489 | +€4,149 | +19.4% |
| Profit (loss) for the period to be appropriated | 9905 | €21,340 | €25,489 | +€4,149 | +19.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.