ORNIBIRD: 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.
ORNIBIRD
Largest movements
- Stocks and contracts +€77,038
up €77,038 (+28.3%), from €271,838 to €348,876
- Receivables within one year -€30,378
down €30,378 (-29.6%), from €102,690 to €72,312
of which Trade receivables: -€33,341
- Cash +€20,422
up €20,422 (+189.3%), from €10,789 to €31,211
mainly Debts after one year (+€161,199) and Receivables within one year (+€30,378)
- Tangible fixed assets +€19,344
up €19,344 (+52.1%), from €37,154 to €56,498
of which Furniture and vehicles: +€15,082
- Deferred charges and accrued income +€9,480
up €9,480 (+249.3%), from €3,803 to €13,283
- Debts after one year +€161,199
up €161,199 (+2320.2%), from €6,948 to €168,146
- Profit (loss) carried forward -€64,972
down €64,972 (-68.8%), from €94,463 to €29,491
- Tax, wage and social debts -€25,144
down €25,144 (-22.8%), from €110,458 to €85,313
of which Taxes: -€40,278
- Current portion of long-term debt +€16,522
up €16,522 (+45.2%), from €36,581 to €53,103
- Trade debts +€16,163
up €16,163 (+22.5%), from €71,760 to €87,923
- Staff costs +€77,921
up €77,921 (+54.3%), from €143,426 to €221,347
- Gross operating margin +€25,794
up €25,794 (+14.3%), from €180,926 to €206,720
- Financial charges +€10,637
up €10,637 (+64.3%), from €16,533 to €27,170
- Depreciation +€7,422
up €7,422 (+47.1%), from €15,760 to €23,181
- Other operating charges -€2,219
down €2,219 (-50.7%), from €4,374 to €2,155
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 | €433,003 | €536,689 | +€103,686 | +23.9% |
| Fixed assets | 21/28 | €43,883 | €71,007 | +€27,124 | +61.8% |
| Intangible fixed assets | 21 | €654 | €6,034 | +€5,380 | +822.2% |
| Tangible fixed assets | 22/27 | €37,154 | €56,498 | +€19,344 | +52.1% |
| Land and buildings | 22 | €1,757 | €242 | -€1,515 | -86.2% |
| Plant, machinery and equipment | 23 | €9,319 | €17,159 | +€7,840 | +84.1% |
| Furniture and vehicles | 24 | €23,788 | €38,870 | +€15,082 | +63.4% |
| Leasing and similar rights | 25 | €663 | - | -€663 | |
| Other tangible fixed assets | 26 | €1,627 | €227 | -€1,400 | -86.0% |
| Financial fixed assets | 28 | €6,075 | €8,475 | +€2,400 | +39.5% |
| Current assets | 29/58 | €389,120 | €465,682 | +€76,562 | +19.7% |
| Stocks and contracts in progress | 3 | €271,838 | €348,876 | +€77,038 | +28.3% |
| Stocks | 30/36 | €271,838 | €348,876 | +€77,038 | +28.3% |
| Amounts receivable within one year | 40/41 | €102,690 | €72,312 | -€30,378 | -29.6% |
| Trade receivables | 40 | €84,279 | €50,938 | -€33,341 | -39.6% |
| Other amounts receivable | 41 | €18,411 | €21,375 | +€2,963 | +16.1% |
| Cash at bank and in hand | 54/58 | €10,789 | €31,211 | +€20,422 | +189.3% |
| Deferred charges and accrued income | 490/1 | €3,803 | €13,283 | +€9,480 | +249.3% |
| Total equity and liabilities | 10/49 | €433,003 | €536,689 | +€103,686 | +23.9% |
| Equity | 10/15 | €99,463 | €34,491 | -€64,972 | -65.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €94,463 | €29,491 | -€64,972 | -68.8% |
| Amounts payable | 17/49 | €333,540 | €502,198 | +€168,658 | +50.6% |
| Amounts payable after more than one year | 17 | €6,948 | €168,146 | +€161,199 | +2320.2% |
| Financial debts | 170/4 | €6,948 | €168,146 | +€161,199 | +2320.2% |
| Amounts payable within one year | 42/48 | €326,592 | €334,051 | +€7,459 | +2.3% |
| Current portion of amounts payable after more than one year | 42 | €36,581 | €53,103 | +€16,522 | +45.2% |
| Trade debts | 44 | €71,760 | €87,923 | +€16,163 | +22.5% |
| Suppliers | 440/4 | €71,760 | €87,923 | +€16,163 | +22.5% |
| Taxes, remuneration and social security | 45 | €110,458 | €85,313 | -€25,144 | -22.8% |
| Taxes | 450/3 | €105,027 | €64,749 | -€40,278 | -38.4% |
| Remuneration and social security | 454/9 | €5,430 | €20,564 | +€15,134 | +278.7% |
| Other amounts payable | 47/48 | €107,793 | €107,711 | -€82 | -0.1% |
| Non-recurring operating income | 76A | - | €97 | +€97 | |
| Remuneration, social security and pensions | 62 | €143,426 | €221,347 | +€77,921 | +54.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,760 | €23,181 | +€7,422 | +47.1% |
| Other operating charges | 640/8 | €4,374 | €2,155 | -€2,219 | -50.7% |
| Gross operating margin | 9900 | €180,926 | €206,720 | +€25,794 | +14.3% |
| Operating profit (loss) | 9901 | €17,367 | -€39,963 | -€57,330 | |
| Financial income | 75/76B | €3,124 | €2,161 | -€963 | -30.8% |
| Recurring financial income | 75 | €3,124 | €2,161 | -€963 | -30.8% |
| Financial charges | 65/66B | €16,533 | €27,170 | +€10,637 | +64.3% |
| Recurring financial charges | 65 | €16,533 | €27,170 | +€10,637 | +64.3% |
| Profit (loss) for the period before taxes | 9903 | €3,958 | -€64,972 | -€68,930 | |
| Profit (loss) for the period | 9904 | €3,958 | -€64,972 | -€68,930 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,958 | -€64,972 | -€68,930 |
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 7 October 2026 via checked.be.