ORPIMMO: 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.
What changed
ORPIMMO
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€28.7m
2024 · -€56.7m+€28.0m
Equity
€70.0m
2024 · -€61.3m+€131.3m
Cash
-
not filed
Balance sheet total
€223.4m
2024 · €226.1m-€2.6m
Largest movements
Assets
- Receivables within one year -€7.8m
down €7.8m (-8.5%), from €90.9m to €83.1m
of which Trade receivables: -€4.7m
- Financial fixed assets +€5.4m
up €5.4m (+4.0%), from €134.9m to €140.3m
Equity and liabilities
- Other debts -€137.6m
down €137.6m (-47.9%), from €287.0m to €149.4m
- Profit (loss) carried forward +€78.6m
up €78.6m (+73.2%), from -€107.4m to -€28.8m
- Contributions +€52.7m
up €52.7m (+211%), from €25.0m to €77.7m
- Debts after one year +€3.9m
new in 2025: €3.9m
Income statement
- Financial charges -€20.4m
down €20.4m (-33.1%), from €61.5m to €41.2m
of which Non-recurring financial charges: -€18.2m
- Financial income +€18.7m
up €18.7m (+144%), from €13.0m to €31.6m
of which Non-recurring financial income: +€17.4m
- Write-downs +€5.0m
up €5.0m (+57.6%), from €8.7m to €13.7m
- Staff costs -€509,341
down €509,341 (-67.8%), from €750,929 to €241,588
- Turnover -€281,154
down €281,154 (-25.7%), from €1.1m to €811,011
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.
Result 2024
-€56.7m
Turnover
-€281,154
Other operating income
-€10,837
Services and other goods
+€58,075
Staff costs
+€509,341
Depreciation
-€30,744
Write-downs
-€5.0m
Other operating charges
+€30,147
Other operating items
-€6.3m
Financial income
+€18.7m
Financial charges
+€20.4m
Taxes
-€16,926
Result 2025
-€28.7m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €226,066,960 | €223,417,272 | -€2.6m | -1.2% |
| Fixed assets | 21/28 | €134,905,543 | €140,266,613 | +€5.4m | +4.0% |
| Intangible fixed assets | 21 | €243 | €116 | -€127 | -52.3% |
| Tangible fixed assets | 22/27 | €929 | - | -€929 | |
| Furniture and vehicles | 24 | €929 | - | -€929 | |
| Financial fixed assets | 28 | €134,904,371 | €140,266,497 | +€5.4m | +4.0% |
| Affiliated companies | 280/1 | €134,904,371 | €140,266,497 | +€5.4m | +4.0% |
| Participating interests | 280 | €134,904,371 | €140,266,497 | +€5.4m | +4.0% |
| Current assets | 29/58 | €91,161,417 | €83,150,659 | -€8.0m | -8.8% |
| Amounts receivable within one year | 40/41 | €90,909,939 | €83,149,882 | -€7.8m | -8.5% |
| Trade receivables | 40 | €5,163,777 | €465,088 | -€4.7m | -91.0% |
| Other amounts receivable | 41 | €85,746,162 | €82,684,795 | -€3.1m | -3.6% |
| Deferred charges and accrued income | 490/1 | €251,479 | €776 | -€250,702 | -99.7% |
| Total equity and liabilities | 10/49 | €226,066,960 | €223,417,272 | -€2.6m | -1.2% |
| Equity | 10/15 | -€61,333,586 | €69,963,602 | +€131.3m | |
| Contributions | 10/11 | €25,000,000 | €77,700,000 | +€52.7m | +211% |
| Capital | 10 | €25,000,000 | €77,700,000 | +€52.7m | +211% |
| Issued capital | 100 | €25,000,000 | €77,700,000 | +€52.7m | +211% |
| Revaluation surpluses | 12 | €20,760,533 | €20,760,533 | = | 0.0% |
| Reserves | 13 | €262,000 | €262,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €262,000 | €262,000 | = | 0.0% |
| Legal reserve | 130 | €262,000 | €262,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€107,356,119 | -€28,758,930 | +€78.6m | +73.2% |
| Amounts payable | 17/49 | €287,400,547 | €153,453,670 | -€133.9m | -46.6% |
| Amounts payable after more than one year | 17 | - | €3,946,272 | +€3.9m | |
| Other amounts payable | 178/9 | - | €3,946,272 | +€3.9m | |
| Amounts payable within one year | 42/48 | €287,392,232 | €149,506,381 | -€137.9m | -48.0% |
| Trade debts | 44 | €123,278 | €53,322 | -€69,956 | -56.7% |
| Suppliers | 440/4 | €123,278 | €53,322 | -€69,956 | -56.7% |
| Taxes, remuneration and social security | 45 | €301,616 | €57,834 | -€243,782 | -80.8% |
| Taxes | 450/3 | €213,735 | €16,043 | -€197,692 | -92.5% |
| Remuneration and social security | 454/9 | €87,881 | €41,790 | -€46,091 | -52.4% |
| Other amounts payable | 47/48 | €286,967,338 | €149,395,224 | -€137.6m | -47.9% |
| Accrued charges and deferred income | 492/3 | €8,314 | €1,017 | -€7,297 | -87.8% |
| Operating income | 70/76A | €2,303,915 | €3,159,110 | +€855,194 | +37.1% |
| Turnover | 70 | €1,092,165 | €811,011 | -€281,154 | -25.7% |
| Other operating income | 74 | €24,394 | €13,557 | -€10,837 | -44.4% |
| Non-recurring operating income | 76A | €1,187,356 | €2,334,541 | +€1.1m | +96.6% |
| Operating charges | 60/66A | €10,470,033 | €22,341,915 | +€11.9m | +113% |
| Services and other goods | 61 | €664,964 | €606,889 | -€58,075 | -8.7% |
| Remuneration, social security and pensions | 62 | €750,929 | €241,588 | -€509,341 | -67.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,508 | €44,252 | +€30,744 | +228% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €8,699,420 | €13,712,427 | +€5.0m | +57.6% |
| Other operating charges | 640/8 | €40,877 | €10,730 | -€30,147 | -73.8% |
| Non-recurring operating charges | 66A | €300,334 | €7,726,028 | +€7.4m | +2,472% |
| Operating profit (loss) | 9901 | -€8,166,117 | -€19,182,805 | -€11.0m | -135% |
| Financial income | 75/76B | €12,983,118 | €31,647,096 | +€18.7m | +144% |
| Recurring financial income | 75 | €9,780,001 | €11,049,404 | +€1.3m | +13.0% |
| Income from current assets | 751 | €9,780,000 | €11,049,404 | +€1.3m | +13.0% |
| Other financial income | 752/9 | €1 | €0 | -€1 | -98.0% |
| Non-recurring financial income | 76B | €3,203,117 | €20,597,692 | +€17.4m | +543% |
| Financial charges | 65/66B | €61,521,492 | €41,165,604 | -€20.4m | -33.1% |
| Recurring financial charges | 65 | €24,548,062 | €22,430,043 | -€2.1m | -8.6% |
| Debt charges | 650 | €24,544,934 | €22,427,760 | -€2.1m | -8.6% |
| Other financial charges | 652/9 | €3,128 | €2,282 | -€846 | -27.0% |
| Non-recurring financial charges | 66B | €36,973,431 | €18,735,561 | -€18.2m | -49.3% |
| Profit (loss) for the period before taxes | 9903 | -€56,704,492 | -€28,701,313 | +€28.0m | +49.4% |
| Income taxes | 67/77 | -€15,428 | €1,498 | +€16,926 | |
| Taxes | 670/3 | €34,572 | €1,498 | -€33,074 | -95.7% |
| Tax adjustments and reversals of tax provisions | 77 | €50,000 | - | -€50,000 | |
| Profit (loss) for the period | 9904 | -€56,689,064 | -€28,702,811 | +€28.0m | +49.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€56,689,064 | -€28,702,811 | +€28.0m | +49.4% |
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 25 October 2026 via checked.be.