ORPHEO: 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.
ORPHEO
Largest movements
- Tangible fixed assets -€27,006
down €27,006 (-25.1%), from €107,471 to €80,465
- Receivables within one year +€23,596
up €23,596 (+4.2%), from €558,152 to €581,748
- Reserves +€67,265
up €67,265 (+6.0%), from €1.1m to €1.2m
of which Distributable reserves: +€67,265
- Current portion of long-term debt -€24,842
down €24,842 (-65.9%), from €37,724 to €12,881
- Tax, wage and social debts -€19,873
down €19,873 (-75.6%), from €26,300 to €6,428
- Financial income -€125,309
down €125,309 (-52.5%), from €238,619 to €113,309
- Gross operating margin +€23,449
up €23,449 (+952.1%), from €2,463 to €25,911
- Taxes -€6,732
down €6,732 (-36.2%), from €18,605 to €11,873
- Other operating charges -€5,923
down €5,923 (-80.8%), from €7,326 to €1,403
- Financial charges -€2,190
down €2,190 (-41.2%), from €5,308 to €3,119
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 | €1,330,616 | €1,337,798 | +€7,182 | +0.5% |
| Fixed assets | 21/28 | €761,372 | €734,366 | -€27,006 | -3.5% |
| Tangible fixed assets | 22/27 | €107,471 | €80,465 | -€27,006 | -25.1% |
| Furniture and vehicles | 24 | €107,471 | €80,465 | -€27,006 | -25.1% |
| Financial fixed assets | 28 | €653,901 | €653,901 | = | 0.0% |
| Current assets | 29/58 | €569,244 | €603,432 | +€34,188 | +6.0% |
| Amounts receivable within one year | 40/41 | €558,152 | €581,748 | +€23,596 | +4.2% |
| Other amounts receivable | 41 | €558,152 | €581,748 | +€23,596 | +4.2% |
| Cash at bank and in hand | 54/58 | €10,193 | €20,768 | +€10,575 | +103.8% |
| Deferred charges and accrued income | 490/1 | €899 | €915 | +€16 | +1.8% |
| Total equity and liabilities | 10/49 | €1,330,616 | €1,337,798 | +€7,182 | +0.5% |
| Equity | 10/15 | €1,133,869 | €1,201,134 | +€67,265 | +5.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,121,469 | €1,188,734 | +€67,265 | +6.0% |
| Tax-exempt reserves | 132 | €36,750 | €36,750 | = | 0.0% |
| Distributable reserves | 133 | €1,084,719 | €1,151,984 | +€67,265 | +6.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €196,747 | €136,664 | -€60,083 | -30.5% |
| Amounts payable after more than one year | 17 | €12,881 | €0 | -€12,881 | -100.0% |
| Financial debts | 170/4 | €12,881 | €0 | -€12,881 | -100.0% |
| Amounts payable within one year | 42/48 | €183,866 | €136,664 | -€47,202 | -25.7% |
| Current portion of amounts payable after more than one year | 42 | €37,724 | €12,881 | -€24,842 | -65.9% |
| Taxes, remuneration and social security | 45 | €26,300 | €6,428 | -€19,873 | -75.6% |
| Taxes | 450/3 | €26,300 | €6,428 | -€19,873 | -75.6% |
| Other amounts payable | 47/48 | €119,842 | €117,355 | -€2,487 | -2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,195 | €27,006 | -€189 | -0.7% |
| Other operating charges | 640/8 | €7,326 | €1,403 | -€5,923 | -80.8% |
| Gross operating margin | 9900 | €2,463 | €25,911 | +€23,449 | +952.1% |
| Operating profit (loss) | 9901 | -€32,058 | -€2,498 | +€29,560 | +92.2% |
| Financial income | 75/76B | €238,619 | €113,309 | -€125,309 | -52.5% |
| Recurring financial income | 75 | €238,619 | €113,309 | -€125,309 | -52.5% |
| Financial charges | 65/66B | €5,308 | €3,119 | -€2,190 | -41.2% |
| Recurring financial charges | 65 | €5,308 | €3,119 | -€2,190 | -41.2% |
| Profit (loss) for the period before taxes | 9903 | €201,252 | €107,692 | -€93,559 | -46.5% |
| Income taxes | 67/77 | €18,605 | €11,873 | -€6,732 | -36.2% |
| Profit (loss) for the period | 9904 | €182,646 | €95,819 | -€86,828 | -47.5% |
| Profit (loss) for the period to be appropriated | 9905 | €182,646 | €95,819 | -€86,828 | -47.5% |
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 5 October 2026 via checked.be.