Ortaire: what changed
Ortaire
Largest movements
- Cash +€39,490
up €39,490 (+100.0%), from €39,504 to €78,994
mainly Contributions, distributions and other (+€50,130) and Depreciation (+€31,942)
- Tangible fixed assets +€27,605
up €27,605 (+22.4%), from €123,078 to €150,682
of which Plant, machinery and equipment: +€31,624
- Receivables within one year -€11,478
down €11,478 (-87.7%), from €13,086 to €1,607
of which Trade receivables: -€10,977
- Reserves +€50,130
new in 2025: €50,130
- Other debts -€20,536
down €20,536 (-45.0%), from €45,612 to €25,076
- Tax, wage and social debts +€14,812
up €14,812 (+1,600%), from €926 to €15,738
of which Taxes: +€13,312
- Debts after one year +€11,241
up €11,241 (+15.1%), from €74,394 to €85,636
- Current portion of long-term debt +€5,993
up €5,993 (+32.7%), from €18,316 to €24,309
- Gross operating margin +€17,701
up €17,701 (+45.9%), from €38,529 to €56,230
- Depreciation +€14,492
up €14,492 (+83.1%), from €17,449 to €31,942
- Taxes +€13,813
up €13,813 (+472%), from €2,926 to €16,739
- Other operating charges +€3,866
up €3,866 (+223%), from €1,730 to €5,597
- Staff costs -€2,444
down €2,444 (-80.5%), from €3,034 to €590
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 | €180,110 | €235,474 | +€55,364 | +30.7% |
| Fixed assets | 21/28 | €123,078 | €150,682 | +€27,605 | +22.4% |
| Tangible fixed assets | 22/27 | €123,078 | €150,682 | +€27,605 | +22.4% |
| Land and buildings | 22 | €31,747 | €34,803 | +€3,056 | +9.6% |
| Plant, machinery and equipment | 23 | €54,373 | €85,998 | +€31,624 | +58.2% |
| Furniture and vehicles | 24 | €36,957 | €29,882 | -€7,075 | -19.1% |
| Current assets | 29/58 | €57,033 | €84,792 | +€27,760 | +48.7% |
| Stocks and contracts in progress | 3 | €3,696 | €4,191 | +€494 | +13.4% |
| Stocks | 30/36 | €3,696 | €4,191 | +€494 | +13.4% |
| Amounts receivable within one year | 40/41 | €13,086 | €1,607 | -€11,478 | -87.7% |
| Trade receivables | 40 | €12,585 | €1,607 | -€10,977 | -87.2% |
| Other amounts receivable | 41 | €501 | - | -€501 | |
| Cash at bank and in hand | 54/58 | €39,504 | €78,994 | +€39,490 | +100.0% |
| Deferred charges and accrued income | 490/1 | €747 | - | -€747 | |
| Total equity and liabilities | 10/49 | €180,110 | €235,474 | +€55,364 | +30.7% |
| Equity | 10/15 | €17,435 | €64,536 | +€47,100 | +270% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | - | €50,130 | +€50,130 | |
| Distributable reserves | 133 | - | €50,130 | +€50,130 | |
| Profit (loss) carried forward | 14 | €16,935 | €13,905 | -€3,030 | -17.9% |
| Amounts payable | 17/49 | €162,675 | €170,939 | +€8,264 | +5.1% |
| Amounts payable after more than one year | 17 | €74,394 | €85,636 | +€11,241 | +15.1% |
| Financial debts | 170/4 | €74,394 | €85,636 | +€11,241 | +15.1% |
| Amounts payable within one year | 42/48 | €88,281 | €85,303 | -€2,977 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €18,316 | €24,309 | +€5,993 | +32.7% |
| Trade debts | 44 | €23,427 | €20,181 | -€3,246 | -13.9% |
| Suppliers | 440/4 | €23,427 | €20,181 | -€3,246 | -13.9% |
| Taxes, remuneration and social security | 45 | €926 | €15,738 | +€14,812 | +1,600% |
| Taxes | 450/3 | €926 | €14,238 | +€13,312 | +1,438% |
| Remuneration and social security | 454/9 | - | €1,500 | +€1,500 | |
| Other amounts payable | 47/48 | €45,612 | €25,076 | -€20,536 | -45.0% |
| Non-recurring operating income | 76A | €11,405 | - | -€11,405 | |
| Remuneration, social security and pensions | 62 | €3,034 | €590 | -€2,444 | -80.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,449 | €31,942 | +€14,492 | +83.1% |
| Other operating charges | 640/8 | €1,730 | €5,597 | +€3,866 | +223% |
| Gross operating margin | 9900 | €38,529 | €56,230 | +€17,701 | +45.9% |
| Operating profit (loss) | 9901 | €16,315 | €18,101 | +€1,786 | +10.9% |
| Financial charges | 65/66B | €2,932 | €4,392 | +€1,460 | +49.8% |
| Recurring financial charges | 65 | €2,932 | €4,392 | +€1,460 | +49.8% |
| Profit (loss) for the period before taxes | 9903 | €13,383 | €13,709 | +€326 | +2.4% |
| Income taxes | 67/77 | €2,926 | €16,739 | +€13,813 | +472% |
| Profit (loss) for the period | 9904 | €10,457 | -€3,030 | -€13,487 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,457 | -€3,030 | -€13,487 |
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 3 November 2026 via checked.be.