ORSI Academy: what changed
ORSI Academy
Largest movements
- Cash +€996,459
up €996,459 (+811%), from €122,937 to €1.1m
mainly Net result for the year (+€785,151) and Receivables within one year (+€117,885)
- Receivables within one year -€117,885
down €117,885 (-23.0%), from €512,242 to €394,357
of which Trade receivables: -€111,468
- Tangible fixed assets -€57,993
down €57,993 (-11.9%), from €487,244 to €429,251
of which Land and buildings: -€29,456
- Financial fixed assets -€51,254
down €51,254 (-42.2%), from €121,548 to €70,293
- Profit (loss) carried forward +€785,151
up €785,151 (+134%), from €585,038 to €1.4m
- Debts within one year +€92,872
up €92,872 (+22.2%), from €417,504 to €510,376
of which Trade debts: +€74,139
- Accrued charges and deferred income -€84,250
down €84,250 (-95.7%), from €88,000 to €3,750
- Investment grants -€24,970
down €24,970 (-15.4%), from €162,097 to €137,127
- Financial income +€905,791
up €905,791 (+3,630%), from €24,953 to €930,744
of which Non-recurring financial income: +€905,746
- Purchases and services -€152,006
down €152,006 (-28.8%), from €528,305 to €376,299
- Turnover -€136,152
down €136,152 (-36.5%), from €373,180 to €237,028
- Gross operating margin +€15,855
up €15,855 (+17.6%), from -€90,125 to -€74,270
- Staff costs +€3,929
new in 2025: €3,929
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,252,638 | €2,021,441 | +€768,803 | +61.4% |
| Fixed assets | 21/28 | €608,792 | €499,545 | -€109,247 | -17.9% |
| Tangible fixed assets | 22/27 | €487,244 | €429,251 | -€57,993 | -11.9% |
| Land and buildings | 22 | €192,295 | €162,839 | -€29,456 | -15.3% |
| Furniture and vehicles | 24 | €4,969 | €3,469 | -€1,500 | -30.2% |
| Other tangible fixed assets | 26 | €289,980 | €262,943 | -€27,037 | -9.3% |
| Financial fixed assets | 28 | €121,548 | €70,293 | -€51,254 | -42.2% |
| Current assets | 29/58 | €643,846 | €1,521,897 | +€878,051 | +136% |
| Amounts receivable within one year | 40/41 | €512,242 | €394,357 | -€117,885 | -23.0% |
| Trade receivables | 40 | €424,192 | €312,724 | -€111,468 | -26.3% |
| Other amounts receivable | 41 | €88,050 | €81,633 | -€6,417 | -7.3% |
| Cash at bank and in hand | 54/58 | €122,937 | €1,119,396 | +€996,459 | +811% |
| Deferred charges and accrued income | 490/1 | €8,667 | €8,144 | -€523 | -6.0% |
| Total equity and liabilities | 10/49 | €1,252,638 | €2,021,441 | +€768,803 | +61.4% |
| Equity | 10/15 | €747,134 | €1,507,315 | +€760,181 | +102% |
| Profit (loss) carried forward | 14 | €585,038 | €1,370,189 | +€785,151 | +134% |
| Investment grants | 15 | €162,097 | €137,127 | -€24,970 | -15.4% |
| Amounts payable | 17/49 | €505,504 | €514,126 | +€8,622 | +1.7% |
| Amounts payable within one year | 42/48 | €417,504 | €510,376 | +€92,872 | +22.2% |
| Trade debts | 44 | €358,687 | €432,826 | +€74,139 | +20.7% |
| Suppliers | 440/4 | €358,687 | €432,826 | +€74,139 | +20.7% |
| Advances received on contracts in progress | 46 | €50,605 | €50,605 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €88,000 | €3,750 | -€84,250 | -95.7% |
| Turnover | 70 | €373,180 | €237,028 | -€136,152 | -36.5% |
| Membership fees, donations, legacies and grants | 73 | €65,000 | €65,000 | +€0 | 0.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €528,305 | €376,299 | -€152,006 | -28.8% |
| Remuneration, social security and pensions | 62 | - | €3,929 | +€3,929 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,200 | €57,993 | -€1,207 | -2.0% |
| Other operating charges | 640/8 | €8,607 | €5,961 | -€2,647 | -30.7% |
| Gross operating margin | 9900 | -€90,125 | -€74,270 | +€15,855 | +17.6% |
| Operating profit (loss) | 9901 | -€157,932 | -€142,153 | +€15,779 | +10.0% |
| Financial income | 75/76B | €24,953 | €930,744 | +€905,791 | +3,630% |
| Recurring financial income | 75 | €24,953 | €24,998 | +€45 | +0.2% |
| Non-recurring financial income | 76B | - | €905,746 | +€905,746 | |
| Financial charges | 65/66B | €390 | €325 | -€65 | -16.7% |
| Recurring financial charges | 65 | €390 | €325 | -€65 | -16.7% |
| Profit (loss) for the period before taxes | 9903 | -€133,369 | €788,266 | +€921,635 | |
| Income taxes | 67/77 | €5,739 | €3,114 | -€2,624 | -45.7% |
| Profit (loss) for the period | 9904 | -€139,108 | €785,151 | +€924,259 | |
| Profit (loss) for the period to be appropriated | 9905 | -€139,108 | €785,151 | +€924,259 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.