ORSA NEXT: 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 NEXT
Largest movements
- Current investments +€704,864
up €704,864 (+20.4%), from €3.5m to €4.2m
- Financial fixed assets +€670,510
up €670,510 (+13.2%), from €5.1m to €5.7m
- Cash -€435,120
down €435,120 (-58.7%), from €741,123 to €306,004
mainly Current investments (-€704,864) and Investment in fixed assets (net) (-€670,510)
- Debts after one year +€1.3m
up €1.3m (+11.5%), from €11.6m to €13.0m
- Profit (loss) carried forward -€558,499
down €558,499 (-28.5%), from -€2.0m to -€2.5m
- Financial income -€869,332
down €869,332 (-73.0%), from €1.2m to €321,935
of which Non-recurring financial income: -€828,720
- Financial charges +€399,228
up €399,228 (+921.6%), from €43,318 to €442,546
of which Non-recurring financial charges: +€300,000
- Gross operating margin -€235,116
down €235,116 (-191.8%), from -€122,598 to -€357,714
- Write-downs +€151,585
up €151,585, from -€76,537 to €75,048
- Purchases and services +€62,246
up €62,246 (+20.3%), from €306,935 to €369,180
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 | €11,274,294 | €12,152,190 | +€877,896 | +7.8% |
| Fixed assets | 21/28 | €5,076,616 | €5,746,006 | +€669,390 | +13.2% |
| Tangible fixed assets | 22/27 | €2,613 | €1,493 | -€1,120 | -42.9% |
| Furniture and vehicles | 24 | €2,613 | €1,493 | -€1,120 | -42.9% |
| Financial fixed assets | 28 | €5,074,003 | €5,744,513 | +€670,510 | +13.2% |
| Current assets | 29/58 | €6,197,678 | €6,406,184 | +€208,507 | +3.4% |
| Amounts receivable within one year | 40/41 | €1,995,131 | €1,933,828 | -€61,303 | -3.1% |
| Trade receivables | 40 | €98,154 | €303,534 | +€205,381 | +209.2% |
| Other amounts receivable | 41 | €1,896,977 | €1,630,294 | -€266,684 | -14.1% |
| Current investments | 50/53 | €3,451,036 | €4,155,900 | +€704,864 | +20.4% |
| Cash at bank and in hand | 54/58 | €741,123 | €306,004 | -€435,120 | -58.7% |
| Deferred charges and accrued income | 490/1 | €10,387 | €10,453 | +€65 | +0.6% |
| Total equity and liabilities | 10/49 | €11,274,294 | €12,152,190 | +€877,896 | +7.8% |
| Equity | 10/15 | -€452,625 | -€1,011,124 | -€558,499 | -123.4% |
| Contributions | 10/11 | €1,500,000 | €1,500,000 | = | 0.0% |
| Capital | 10 | €1,500,000 | €1,500,000 | = | 0.0% |
| Issued capital | 100 | €1,500,000 | €1,500,000 | = | 0.0% |
| Reserves | 13 | €6,319 | €6,319 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,319 | €6,319 | = | 0.0% |
| Legal reserve | 130 | €602 | €602 | = | 0.0% |
| Other | 1319 | €5,717 | €5,717 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,958,944 | -€2,517,443 | -€558,499 | -28.5% |
| Amounts payable | 17/49 | €11,726,919 | €13,163,314 | +€1.4m | +12.2% |
| Amounts payable after more than one year | 17 | €11,624,040 | €12,965,239 | +€1.3m | +11.5% |
| Other amounts payable | 178/9 | €11,624,040 | €12,965,239 | +€1.3m | +11.5% |
| Amounts payable within one year | 42/48 | €101,632 | €196,729 | +€95,097 | +93.6% |
| Trade debts | 44 | €88,679 | €176,682 | +€88,003 | +99.2% |
| Suppliers | 440/4 | €88,679 | €176,682 | +€88,003 | +99.2% |
| Taxes, remuneration and social security | 45 | €12,953 | €20,047 | +€7,094 | +54.8% |
| Taxes | 450/3 | €12,953 | €20,047 | +€7,094 | +54.8% |
| Accrued charges and deferred income | 492/3 | €1,247 | €1,346 | +€100 | +8.0% |
| Non-recurring operating income | 76A | €184,337 | €11,467 | -€172,870 | -93.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €306,935 | €369,180 | +€62,246 | +20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €747 | €1,120 | +€373 | +50.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€76,537 | €75,048 | +€151,585 | |
| Other operating charges | 640/8 | €3,242 | €4,007 | +€766 | +23.6% |
| Non-recurring operating charges | 66A | €583,259 | - | -€583,259 | |
| Gross operating margin | 9900 | -€122,598 | -€357,714 | -€235,116 | -191.8% |
| Operating profit (loss) | 9901 | -€633,308 | -€437,888 | +€195,420 | +30.9% |
| Financial income | 75/76B | €1,191,266 | €321,935 | -€869,332 | -73.0% |
| Recurring financial income | 75 | €362,546 | €321,935 | -€40,612 | -11.2% |
| Non-recurring financial income | 76B | €828,720 | - | -€828,720 | |
| Financial charges | 65/66B | €43,318 | €442,546 | +€399,228 | +921.6% |
| Recurring financial charges | 65 | €43,318 | €142,546 | +€99,228 | +229.1% |
| Non-recurring financial charges | 66B | - | €300,000 | +€300,000 | |
| Profit (loss) for the period before taxes | 9903 | €514,640 | -€558,499 | -€1.1m | |
| Profit (loss) for the period | 9904 | €514,640 | -€558,499 | -€1.1m | |
| Profit (loss) for the period to be appropriated | 9905 | €514,640 | -€558,499 | -€1.1m |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.