ORSA Group: 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.
ORSA Group
Largest movements
- Stocks and contracts +€53,772
up €53,772 (+131%), from €41,080 to €94,852
- Cash -€5,777
down €5,777 (-39.7%), from €14,547 to €8,770
mainly Stocks and contracts (-€53,772) and Net result for the year (-€10,349)
- Receivables within one year +€5,383
up €5,383 (+60.6%), from €8,887 to €14,270
- Tangible fixed assets -€2,842
down €2,842 (-36.9%), from €7,693 to €4,851
- Trade debts +€40,680
up €40,680 (+5,469%), from €744 to €41,424
- Other debts +€20,121
up €20,121 (+24.4%), from €82,366 to €102,487
- Profit (loss) carried forward -€10,349
down €10,349 (-69.5%), from -€14,893 to -€25,242
- Gross operating margin +€8,108
up €8,108 (+55.3%), from -€14,672 to -€6,564
- Depreciation +€2,009
up €2,009 (+241%), from €833 to €2,842
- Other operating charges +€311
up €311 (+264%), from €118 to €429
- Financial charges +€291
up €291 (+129%), from €225 to €516
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 | €72,207 | €122,849 | +€50,642 | +70.1% |
| Fixed assets | 21/28 | €7,693 | €4,851 | -€2,842 | -36.9% |
| Tangible fixed assets | 22/27 | €7,693 | €4,851 | -€2,842 | -36.9% |
| Furniture and vehicles | 24 | €7,693 | €4,851 | -€2,842 | -36.9% |
| Current assets | 29/58 | €64,514 | €117,998 | +€53,483 | +82.9% |
| Stocks and contracts in progress | 3 | €41,080 | €94,852 | +€53,772 | +131% |
| Stocks | 30/36 | €41,080 | €94,852 | +€53,772 | +131% |
| Amounts receivable within one year | 40/41 | €8,887 | €14,270 | +€5,383 | +60.6% |
| Trade receivables | 40 | €8,887 | €14,270 | +€5,383 | +60.6% |
| Cash at bank and in hand | 54/58 | €14,547 | €8,770 | -€5,777 | -39.7% |
| Deferred charges and accrued income | 490/1 | - | €106 | +€106 | |
| Total equity and liabilities | 10/49 | €72,207 | €122,849 | +€50,642 | +70.1% |
| Equity | 10/15 | -€11,893 | -€22,242 | -€10,349 | -87.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,893 | -€25,242 | -€10,349 | -69.5% |
| Amounts payable | 17/49 | €84,100 | €145,091 | +€60,991 | +72.5% |
| Amounts payable within one year | 42/48 | €84,100 | €145,091 | +€60,991 | +72.5% |
| Trade debts | 44 | €744 | €41,424 | +€40,680 | +5,469% |
| Suppliers | 440/4 | €744 | €41,424 | +€40,680 | +5,469% |
| Taxes, remuneration and social security | 45 | €990 | €1,179 | +€189 | +19.1% |
| Taxes | 450/3 | €990 | €1,179 | +€189 | +19.1% |
| Other amounts payable | 47/48 | €82,366 | €102,487 | +€20,121 | +24.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €833 | €2,842 | +€2,009 | +241% |
| Other operating charges | 640/8 | €118 | €429 | +€311 | +264% |
| Gross operating margin | 9900 | -€14,672 | -€6,564 | +€8,108 | +55.3% |
| Operating profit (loss) | 9901 | -€15,623 | -€9,834 | +€5,789 | +37.1% |
| Financial income | 75/76B | €15 | €1 | -€14 | -92.1% |
| Recurring financial income | 75 | €15 | €1 | -€14 | -92.1% |
| Financial charges | 65/66B | €225 | €516 | +€291 | +129% |
| Recurring financial charges | 65 | €225 | €516 | +€291 | +129% |
| Profit (loss) for the period before taxes | 9903 | -€15,833 | -€10,349 | +€5,484 | +34.6% |
| Profit (loss) for the period | 9904 | -€15,833 | -€10,349 | +€5,484 | +34.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,833 | -€10,349 | +€5,484 | +34.6% |
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 17 October 2026 via checked.be.