ORSI ACADEMY: 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.
ORSI ACADEMY
Largest movements
- Receivables after one year -€1.1m
down €1.1m (-69.1%), from €1.6m to €500,000
- Cash +€843,438
up €843,438 (+123%), from €686,818 to €1.5m
mainly Receivables after one year (+€1.1m) and Receivables within one year (+€836,965)
- Receivables within one year -€836,965
down €836,965 (-22.7%), from €3.7m to €2.8m
of which Trade receivables: -€1.1m
- Intangible fixed assets +€261,219
up €261,219 (+650%), from €40,163 to €301,382
- Deferred charges and accrued income -€111,472
down €111,472 (-44.1%), from €252,723 to €141,250
- Accrued charges and deferred income -€658,514
down €658,514 (-71.5%), from €921,069 to €262,555
- Other debts -€405,314
down €405,314 (-80.2%), from €505,314 to €100,000
- Trade debts +€71,761
up €71,761 (+8.2%), from €879,383 to €951,144
- Gross operating margin -€554,851
down €554,851 (-39.2%), from €1.4m to €862,290
- Staff costs +€59,279
up €59,279 (+10.9%), from €542,708 to €601,988
- Other operating charges +€32,311
up €32,311 (+804%), from €4,018 to €36,330
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 | €6,565,098 | €5,612,544 | -€952,554 | -14.5% |
| Fixed assets | 21/28 | €320,584 | €593,030 | +€272,446 | +85.0% |
| Intangible fixed assets | 21 | €40,163 | €301,382 | +€261,219 | +650% |
| Tangible fixed assets | 22/27 | €20,974 | €32,201 | +€11,227 | +53.5% |
| Plant, machinery and equipment | 23 | €10,359 | €11,012 | +€653 | +6.3% |
| Furniture and vehicles | 24 | €10,615 | €21,189 | +€10,574 | +99.6% |
| Financial fixed assets | 28 | €259,447 | €259,447 | = | 0.0% |
| Current assets | 29/58 | €6,244,514 | €5,019,514 | -€1.2m | -19.6% |
| Amounts receivable after more than one year | 29 | €1,620,000 | €500,000 | -€1.1m | -69.1% |
| Other amounts receivable | 291 | €1,620,000 | €500,000 | -€1.1m | -69.1% |
| Amounts receivable within one year | 40/41 | €3,684,973 | €2,848,007 | -€836,965 | -22.7% |
| Trade receivables | 40 | €3,390,754 | €2,322,702 | -€1.1m | -31.5% |
| Other amounts receivable | 41 | €294,219 | €525,305 | +€231,086 | +78.5% |
| Cash at bank and in hand | 54/58 | €686,818 | €1,530,256 | +€843,438 | +123% |
| Deferred charges and accrued income | 490/1 | €252,723 | €141,250 | -€111,472 | -44.1% |
| Total equity and liabilities | 10/49 | €6,565,098 | €5,612,544 | -€952,554 | -14.5% |
| Equity | 10/15 | €4,188,012 | €4,244,714 | +€56,702 | +1.4% |
| Contributions | 10/11 | €3,106,262 | €3,106,262 | = | 0.0% |
| Reserves | 13 | €1,081,750 | €1,138,452 | +€56,702 | +5.2% |
| Distributable reserves | 133 | €1,081,750 | €1,138,452 | +€56,702 | +5.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,377,086 | €1,367,831 | -€1.0m | -42.5% |
| Amounts payable within one year | 42/48 | €1,456,017 | €1,105,276 | -€350,741 | -24.1% |
| Trade debts | 44 | €879,383 | €951,144 | +€71,761 | +8.2% |
| Suppliers | 440/4 | €879,383 | €951,144 | +€71,761 | +8.2% |
| Taxes, remuneration and social security | 45 | €71,321 | €54,132 | -€17,189 | -24.1% |
| Taxes | 450/3 | €2,804 | €0 | -€2,804 | -100% |
| Remuneration and social security | 454/9 | €68,517 | €54,132 | -€14,385 | -21.0% |
| Other amounts payable | 47/48 | €505,314 | €100,000 | -€405,314 | -80.2% |
| Accrued charges and deferred income | 492/3 | €921,069 | €262,555 | -€658,514 | -71.5% |
| Remuneration, social security and pensions | 62 | €542,708 | €601,988 | +€59,279 | +10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,471 | €53,562 | +€9,091 | +20.4% |
| Other operating charges | 640/8 | €4,018 | €36,330 | +€32,311 | +804% |
| Gross operating margin | 9900 | €1,417,140 | €862,290 | -€554,851 | -39.2% |
| Operating profit (loss) | 9901 | €825,942 | €170,410 | -€655,532 | -79.4% |
| Financial income | 75/76B | €14,864 | €9,548 | -€5,316 | -35.8% |
| Recurring financial income | 75 | €14,864 | €9,548 | -€5,316 | -35.8% |
| Financial charges | 65/66B | €18,985 | €22,194 | +€3,209 | +16.9% |
| Recurring financial charges | 65 | €18,985 | €22,194 | +€3,209 | +16.9% |
| Profit (loss) for the period before taxes | 9903 | €821,821 | €157,764 | -€664,058 | -80.8% |
| Income taxes | 67/77 | €1,124 | €1,062 | -€62 | -5.5% |
| Profit (loss) for the period | 9904 | €820,697 | €156,702 | -€663,996 | -80.9% |
| Profit (loss) for the period to be appropriated | 9905 | €820,697 | €156,702 | -€663,996 | -80.9% |
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 27 October 2026 via checked.be.