ORTE: 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.
ORTE
Largest movements
- Tangible fixed assets -€213,240
down €213,240 (-33.0%), from €646,359 to €433,119
of which Land and buildings: -€236,054
- Receivables after one year -€91,105
down €91,105 (-66.2%), from €137,576 to €46,472
- Cash +€73,539
up €73,539 (+241%), from €30,473 to €104,012
mainly Net result for the year (+€235,382) and Investment in fixed assets (net) (+€183,022)
- Debts after one year -€390,693
no longer reported in 2025 (was €390,693)
- Reserves +€235,382
up €235,382 (+131%), from €180,082 to €415,464
of which Tax-exempt reserves: +€187,738
- Other debts -€88,628
down €88,628 (-84.8%), from €104,514 to €15,886
- Provisions +€62,579
new in 2025: €62,579
- Current portion of long-term debt -€60,713
no longer reported in 2025 (was €60,713)
- Gross operating margin +€142,987
up €142,987 (+61.4%), from €232,827 to €375,814
- Depreciation -€39,581
down €39,581 (-56.7%), from €69,798 to €30,218
- Taxes -€19,266
down €19,266 (-50.3%), from €38,318 to €19,051
- Financial charges -€9,861
down €9,861 (-38.7%), from €25,453 to €15,591
- Staff costs +€4,684
up €4,684 (+64.9%), from €7,221 to €11,905
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 | €817,125 | €590,183 | -€226,943 | -27.8% |
| Fixed assets | 21/28 | €646,439 | €433,199 | -€213,240 | -33.0% |
| Tangible fixed assets | 22/27 | €646,359 | €433,119 | -€213,240 | -33.0% |
| Land and buildings | 22 | €611,255 | €375,201 | -€236,054 | -38.6% |
| Plant, machinery and equipment | 23 | €19,608 | €22,402 | +€2,793 | +14.2% |
| Furniture and vehicles | 24 | €15,495 | €35,517 | +€20,021 | +129% |
| Financial fixed assets | 28 | €80 | €80 | = | 0.0% |
| Current assets | 29/58 | €170,686 | €156,984 | -€13,703 | -8.0% |
| Amounts receivable after more than one year | 29 | €137,576 | €46,472 | -€91,105 | -66.2% |
| Other amounts receivable | 291 | €137,576 | €46,472 | -€91,105 | -66.2% |
| Amounts receivable within one year | 40/41 | €256 | €2,079 | +€1,822 | +711% |
| Other amounts receivable | 41 | €256 | €2,079 | +€1,822 | +711% |
| Cash at bank and in hand | 54/58 | €30,473 | €104,012 | +€73,539 | +241% |
| Deferred charges and accrued income | 490/1 | €2,381 | €4,422 | +€2,041 | +85.7% |
| Total equity and liabilities | 10/49 | €817,125 | €590,183 | -€226,943 | -27.8% |
| Equity | 10/15 | €198,682 | €434,064 | +€235,382 | +118% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €180,082 | €415,464 | +€235,382 | +131% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €187,738 | +€187,738 | |
| Distributable reserves | 133 | €178,222 | €225,866 | +€47,644 | +26.7% |
| Provisions and deferred taxes | 16 | - | €62,579 | +€62,579 | |
| Deferred taxes | 168 | - | €62,579 | +€62,579 | |
| Amounts payable | 17/49 | €618,444 | €93,540 | -€524,904 | -84.9% |
| Amounts payable after more than one year | 17 | €390,693 | - | -€390,693 | |
| Financial debts | 170/4 | €390,693 | - | -€390,693 | |
| Amounts payable within one year | 42/48 | €227,750 | €93,540 | -€134,211 | -58.9% |
| Current portion of amounts payable after more than one year | 42 | €60,713 | - | -€60,713 | |
| Trade debts | 44 | €28,711 | €68,351 | +€39,639 | +138% |
| Suppliers | 440/4 | €28,711 | €68,351 | +€39,639 | +138% |
| Taxes, remuneration and social security | 45 | €33,812 | €9,303 | -€24,509 | -72.5% |
| Taxes | 450/3 | €33,812 | €9,303 | -€24,509 | -72.5% |
| Other amounts payable | 47/48 | €104,514 | €15,886 | -€88,628 | -84.8% |
| Remuneration, social security and pensions | 62 | €7,221 | €11,905 | +€4,684 | +64.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,798 | €30,218 | -€39,581 | -56.7% |
| Other operating charges | 640/8 | €4,324 | €4,057 | -€268 | -6.2% |
| Gross operating margin | 9900 | €232,827 | €375,814 | +€142,987 | +61.4% |
| Operating profit (loss) | 9901 | €151,483 | €329,635 | +€178,151 | +118% |
| Financial income | 75/76B | €4,060 | €2,969 | -€1,090 | -26.9% |
| Recurring financial income | 75 | €4,060 | €2,969 | -€1,090 | -26.9% |
| Financial charges | 65/66B | €25,453 | €15,591 | -€9,861 | -38.7% |
| Recurring financial charges | 65 | €25,453 | €15,591 | -€9,861 | -38.7% |
| Profit (loss) for the period before taxes | 9903 | €130,091 | €317,013 | +€186,922 | +144% |
| Transfer from deferred taxes | 780 | - | €2,644 | +€2,644 | |
| Transfer to deferred taxes | 680 | - | €65,223 | +€65,223 | |
| Income taxes | 67/77 | €38,318 | €19,051 | -€19,266 | -50.3% |
| Profit (loss) for the period | 9904 | €91,773 | €235,382 | +€143,609 | +156% |
| Transfer from tax-exempt reserves | 789 | - | €7,932 | +€7,932 | |
| Transfer to tax-exempt reserves | 689 | - | €195,670 | +€195,670 | |
| Profit (loss) for the period to be appropriated | 9905 | €91,773 | €47,644 | -€44,129 | -48.1% |
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 15 October 2026 via checked.be.