ORPHEUS: 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.
ORPHEUS
Largest movements
- Tangible fixed assets -€6,823
down €6,823 (-4.2%), from €161,411 to €154,587
- Other debts +€73,607
up €73,607 (+13.5%), from €545,578 to €619,185
- Profit (loss) carried forward -€55,283
down €55,283 (-9.1%), from -€604,348 to -€659,631
- Trade debts -€24,708
down €24,708 (-76.7%), from €32,197 to €7,489
- Revaluation surpluses -€6,823
down €6,823 (-7.2%), from €94,734 to €87,910
- Reserves +€6,823
up €6,823 (+9.1%), from €75,057 to €81,881
- Gross operating margin +€13,050
up €13,050 (+79.0%), from -€16,521 to -€3,470
- Other operating charges -€3,103
down €3,103 (-19.0%), from €16,305 to €13,202
- Financial charges +€2,247
up €2,247 (+7.6%), from €29,540 to €31,787
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 | €161,810 | €155,426 | -€6,384 | -3.9% |
| Fixed assets | 21/28 | €161,411 | €154,587 | -€6,823 | -4.2% |
| Tangible fixed assets | 22/27 | €161,411 | €154,587 | -€6,823 | -4.2% |
| Land and buildings | 22 | €161,411 | €154,587 | -€6,823 | -4.2% |
| Current assets | 29/58 | €400 | €839 | +€439 | +110% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €400 | €839 | +€439 | +110% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €161,810 | €155,426 | -€6,384 | -3.9% |
| Equity | 10/15 | -€415,965 | -€471,248 | -€55,283 | -13.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Revaluation surpluses | 12 | €94,734 | €87,910 | -€6,823 | -7.2% |
| Reserves | 13 | €75,057 | €81,881 | +€6,823 | +9.1% |
| Distributable reserves | 133 | €75,057 | €81,881 | +€6,823 | +9.1% |
| Profit (loss) carried forward | 14 | -€604,348 | -€659,631 | -€55,283 | -9.1% |
| Amounts payable | 17/49 | €577,775 | €626,674 | +€48,899 | +8.5% |
| Amounts payable within one year | 42/48 | €577,775 | €626,674 | +€48,899 | +8.5% |
| Trade debts | 44 | €32,197 | €7,489 | -€24,708 | -76.7% |
| Suppliers | 440/4 | €32,197 | €7,489 | -€24,708 | -76.7% |
| Other amounts payable | 47/48 | €545,578 | €619,185 | +€73,607 | +13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,823 | €6,823 | = | 0.0% |
| Other operating charges | 640/8 | €16,305 | €13,202 | -€3,103 | -19.0% |
| Non-recurring operating charges | 66A | €41,426 | €0 | -€41,426 | -100% |
| Gross operating margin | 9900 | -€16,521 | -€3,470 | +€13,050 | +79.0% |
| Operating profit (loss) | 9901 | -€81,075 | -€23,496 | +€57,579 | +71.0% |
| Financial charges | 65/66B | €29,540 | €31,787 | +€2,247 | +7.6% |
| Recurring financial charges | 65 | €29,540 | €31,787 | +€2,247 | +7.6% |
| Profit (loss) for the period before taxes | 9903 | -€110,615 | -€55,283 | +€55,332 | +50.0% |
| Profit (loss) for the period | 9904 | -€110,615 | -€55,283 | +€55,332 | +50.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€110,615 | -€55,283 | +€55,332 | +50.0% |
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 15 October 2026 via checked.be.