ORPESCO: 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.
ORPESCO
Largest movements
- Cash +€61,857
up €61,857 (+544%), from €11,361 to €73,217
mainly Net result for the year (+€74,980) and Depreciation (+€8,717)
- Tangible fixed assets -€8,717
down €8,717 (-38.0%), from €22,933 to €14,216
- Reserves +€74,980
up €74,980 (+48.4%), from €155,002 to €229,982
- Tax, wage and social debts -€18,379
down €18,379 (-37.6%), from €48,835 to €30,455
- Gross operating margin -€104,072
down €104,072 (-48.0%), from €216,897 to €112,826
- Taxes -€17,965
down €17,965 (-36.4%), from €49,333 to €31,368
- Depreciation -€3,559
down €3,559 (-29.0%), from €12,276 to €8,717
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 | €209,456 | €264,213 | +€54,757 | +26.1% |
| Fixed assets | 21/28 | €22,933 | €14,216 | -€8,717 | -38.0% |
| Tangible fixed assets | 22/27 | €22,933 | €14,216 | -€8,717 | -38.0% |
| Furniture and vehicles | 24 | €22,933 | €14,216 | -€8,717 | -38.0% |
| Current assets | 29/58 | €186,523 | €249,997 | +€63,473 | +34.0% |
| Current investments | 50/53 | €175,000 | €175,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €11,361 | €73,217 | +€61,857 | +544% |
| Deferred charges and accrued income | 490/1 | €163 | €1,779 | +€1,617 | +995% |
| Total equity and liabilities | 10/49 | €209,456 | €264,213 | +€54,757 | +26.1% |
| Equity | 10/15 | €158,002 | €232,982 | +€74,980 | +47.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €155,002 | €229,982 | +€74,980 | +48.4% |
| Distributable reserves | 133 | €155,002 | €229,982 | +€74,980 | +48.4% |
| Amounts payable | 17/49 | €51,454 | €31,231 | -€20,223 | -39.3% |
| Amounts payable within one year | 42/48 | €51,454 | €31,166 | -€20,288 | -39.4% |
| Trade debts | 44 | €1,113 | €669 | -€445 | -40.0% |
| Suppliers | 440/4 | €1,113 | €669 | -€445 | -40.0% |
| Taxes, remuneration and social security | 45 | €48,835 | €30,455 | -€18,379 | -37.6% |
| Taxes | 450/3 | €48,835 | €30,455 | -€18,379 | -37.6% |
| Other amounts payable | 47/48 | €1,506 | €42 | -€1,464 | -97.2% |
| Accrued charges and deferred income | 492/3 | - | €65 | +€65 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,276 | €8,717 | -€3,559 | -29.0% |
| Other operating charges | 640/8 | €1,792 | €581 | -€1,212 | -67.6% |
| Gross operating margin | 9900 | €216,897 | €112,826 | -€104,072 | -48.0% |
| Operating profit (loss) | 9901 | €202,829 | €103,528 | -€99,301 | -49.0% |
| Financial income | 75/76B | €1,661 | €3,043 | +€1,382 | +83.2% |
| Recurring financial income | 75 | €1,661 | €3,043 | +€1,382 | +83.2% |
| Financial charges | 65/66B | €155 | €223 | +€69 | +44.3% |
| Recurring financial charges | 65 | €155 | €223 | +€69 | +44.3% |
| Profit (loss) for the period before taxes | 9903 | €204,335 | €106,348 | -€97,987 | -48.0% |
| Income taxes | 67/77 | €49,333 | €31,368 | -€17,965 | -36.4% |
| Profit (loss) for the period | 9904 | €155,002 | €74,980 | -€80,022 | -51.6% |
| Profit (loss) for the period to be appropriated | 9905 | €155,002 | €74,980 | -€80,022 | -51.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.