Orsted Belgium Ventures: 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.
Orsted Belgium Ventures
Largest movements
- Receivables within one year +€3.2m
up €3.2m (+9,641%), from €32,738 to €3.2m
of which Trade receivables: +€3.2m
- Cash -€186,580
down €186,580 (-100%), from €186,580 to €0
mainly Receivables within one year (-€3.2m) and Trade debts (-€50,060)
- Short-term financial debts +€1.0m
new in 2025: €1.0m
- Contributions +€1.0m
up €1.0m (+25.0%), from €4.0m to €5.0m
- Profit (loss) carried forward +€860,908
up €860,908 (+21.1%), from -€4.1m to -€3.2m
- Tax, wage and social debts +€134,943
up €134,943 (+67.2%), from €200,701 to €335,644
of which Remuneration and social security: +€74,241
- Trade debts -€50,060
down €50,060 (-49.5%), from €101,132 to €51,072
- Gross operating margin +€3.3m
up €3.3m, from -€553,259 to €2.7m
- Staff costs +€295,654
up €295,654 (+19.2%), from €1.5m to €1.8m
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 | €233,420 | €3,203,471 | +€3.0m | +1,272% |
| Fixed assets | 21/28 | €10,200 | €10,200 | = | 0.0% |
| Financial fixed assets | 28 | €10,200 | €10,200 | = | 0.0% |
| Current assets | 29/58 | €223,220 | €3,193,271 | +€3.0m | +1,331% |
| Amounts receivable within one year | 40/41 | €32,738 | €3,189,115 | +€3.2m | +9,641% |
| Trade receivables | 40 | - | €3,189,115 | +€3.2m | |
| Other amounts receivable | 41 | €32,738 | €0 | -€32,738 | -100% |
| Cash at bank and in hand | 54/58 | €186,580 | €0 | -€186,580 | -100% |
| Deferred charges and accrued income | 490/1 | €3,902 | €4,156 | +€254 | +6.5% |
| Total equity and liabilities | 10/49 | €233,420 | €3,203,471 | +€3.0m | +1,272% |
| Equity | 10/15 | -€75,871 | €1,785,037 | +€1.9m | |
| Contributions | 10/11 | €4,000,000 | €5,000,000 | +€1.0m | +25.0% |
| Profit (loss) carried forward | 14 | -€4,075,871 | -€3,214,963 | +€860,908 | +21.1% |
| Amounts payable | 17/49 | €309,291 | €1,418,434 | +€1.1m | +359% |
| Amounts payable within one year | 42/48 | €301,833 | €1,409,934 | +€1.1m | +367% |
| Financial debts | 43 | - | €1,023,219 | +€1.0m | |
| Credit institutions | 430/8 | - | €1,023,219 | +€1.0m | |
| Trade debts | 44 | €101,132 | €51,072 | -€50,060 | -49.5% |
| Suppliers | 440/4 | €101,132 | €51,072 | -€50,060 | -49.5% |
| Taxes, remuneration and social security | 45 | €200,701 | €335,644 | +€134,943 | +67.2% |
| Taxes | 450/3 | - | €60,702 | +€60,702 | |
| Remuneration and social security | 454/9 | €200,701 | €274,942 | +€74,241 | +37.0% |
| Accrued charges and deferred income | 492/3 | €7,458 | €8,500 | +€1,042 | +14.0% |
| Remuneration, social security and pensions | 62 | €1,536,253 | €1,831,906 | +€295,654 | +19.2% |
| Other operating charges | 640/8 | €455 | €1,098 | +€644 | +142% |
| Gross operating margin | 9900 | -€553,259 | €2,707,100 | +€3.3m | |
| Operating profit (loss) | 9901 | -€2,089,967 | €874,095 | +€3.0m | |
| Financial charges | 65/66B | €7,881 | €12,184 | +€4,303 | +54.6% |
| Recurring financial charges | 65 | €7,881 | €12,184 | +€4,303 | +54.6% |
| Profit (loss) for the period before taxes | 9903 | -€2,097,848 | €861,911 | +€3.0m | |
| Income taxes | 67/77 | €309 | €1,003 | +€694 | +225% |
| Profit (loss) for the period | 9904 | -€2,098,157 | €860,908 | +€3.0m | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,098,157 | €860,908 | +€3.0m |
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 21 October 2026 via checked.be.