ORTEGAWYNTER: 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.
ORTEGAWYNTER
Largest movements
- Receivables within one year -€85,257
down €85,257 (-27.6%), from €308,687 to €223,429
of which Other amounts receivable: -€114,615
- Current investments +€49,998
up €49,998 (+21.7%), from €230,534 to €280,532
- Cash +€13,618
up €13,618 (+12.0%), from €113,046 to €126,663
mainly Receivables within one year (+€85,257) and Trade debts (+€20,992)
- Profit (loss) carried forward -€25,317
down €25,317, from €0 to -€25,317
- Trade debts +€20,992
up €20,992 (+73.7%), from €28,465 to €49,457
- Tax, wage and social debts -€9,801
down €9,801 (-60.1%), from €16,307 to €6,506
- Gross operating margin -€62,981
down €62,981, from €43,573 to -€19,408
- Taxes -€5,523
down €5,523 (-91.8%), from €6,015 to €491
- Financial charges +€2,336
up €2,336 (+3,167%), from €74 to €2,410
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 | €728,669 | €717,375 | -€11,295 | -1.6% |
| Fixed assets | 21/28 | €26,260 | €31,520 | +€5,260 | +20.0% |
| Intangible fixed assets | 21 | €6,453 | €5,718 | -€735 | -11.4% |
| Tangible fixed assets | 22/27 | €4,966 | €10,961 | +€5,995 | +121% |
| Plant, machinery and equipment | 23 | €543 | €2,095 | +€1,552 | +286% |
| Furniture and vehicles | 24 | €691 | €288 | -€403 | -58.3% |
| Other tangible fixed assets | 26 | €3,732 | €8,578 | +€4,846 | +130% |
| Financial fixed assets | 28 | €14,841 | €14,841 | = | 0.0% |
| Current assets | 29/58 | €702,409 | €685,855 | -€16,554 | -2.4% |
| Amounts receivable within one year | 40/41 | €308,687 | €223,429 | -€85,257 | -27.6% |
| Trade receivables | 40 | €43,475 | €72,832 | +€29,357 | +67.5% |
| Other amounts receivable | 41 | €265,212 | €150,597 | -€114,615 | -43.2% |
| Current investments | 50/53 | €230,534 | €280,532 | +€49,998 | +21.7% |
| Cash at bank and in hand | 54/58 | €113,046 | €126,663 | +€13,618 | +12.0% |
| Deferred charges and accrued income | 490/1 | €50,143 | €55,230 | +€5,087 | +10.1% |
| Total equity and liabilities | 10/49 | €728,669 | €717,375 | -€11,295 | -1.6% |
| Equity | 10/15 | €682,566 | €657,249 | -€25,317 | -3.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €663,966 | €663,966 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,453 | €6,453 | = | 0.0% |
| Distributable reserves | 133 | €657,513 | €657,513 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€25,317 | -€25,317 | |
| Amounts payable | 17/49 | €46,103 | €60,125 | +€14,022 | +30.4% |
| Amounts payable within one year | 42/48 | €44,772 | €57,463 | +€12,691 | +28.3% |
| Trade debts | 44 | €28,465 | €49,457 | +€20,992 | +73.7% |
| Suppliers | 440/4 | €28,465 | €49,457 | +€20,992 | +73.7% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €16,307 | €6,506 | -€9,801 | -60.1% |
| Taxes | 450/3 | €16,307 | €6,506 | -€9,801 | -60.1% |
| Other amounts payable | 47/48 | €0 | €1,500 | +€1,500 | |
| Accrued charges and deferred income | 492/3 | €1,331 | €2,662 | +€1,331 | +100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,671 | €3,769 | +€97 | +2.7% |
| Other operating charges | 640/8 | €3,615 | €3,352 | -€262 | -7.3% |
| Gross operating margin | 9900 | €43,573 | -€19,408 | -€62,981 | |
| Operating profit (loss) | 9901 | €36,288 | -€26,529 | -€62,816 | |
| Financial income | 75/76B | €4,548 | €4,113 | -€436 | -9.6% |
| Recurring financial income | 75 | €4,548 | €4,113 | -€436 | -9.6% |
| Financial charges | 65/66B | €74 | €2,410 | +€2,336 | +3,167% |
| Recurring financial charges | 65 | €74 | €2,410 | +€2,336 | +3,167% |
| Profit (loss) for the period before taxes | 9903 | €40,762 | -€24,825 | -€65,587 | |
| Income taxes | 67/77 | €6,015 | €491 | -€5,523 | -91.8% |
| Profit (loss) for the period | 9904 | €34,747 | -€25,317 | -€60,064 | |
| Transfer from tax-exempt reserves | 789 | €735 | €0 | -€735 | -100% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €35,483 | -€25,317 | -€60,799 |
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 25 October 2026 via checked.be.