ORTELEC: 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.
ORTELEC
Largest movements
- Receivables within one year +€4.2m
up €4.2m (+14365.8%), from €29,261 to €4.2m
of which Other amounts receivable: +€4.1m
- Current investments +€1.9m
up €1.9m (+118.8%), from €1.6m to €3.5m
- Cash +€480,680
up €480,680 (+1232.8%), from €38,991 to €519,671
mainly Other debts (+€6.5m) and Net result for the year (+€423,999)
- Other debts +€6.5m
up €6.5m (+677.5%), from €955,689 to €7.4m
- Gross operating margin -€365,768
down €365,768 (-21.0%), from €1.7m to €1.4m
- Financial charges +€318,741
up €318,741 (+717.1%), from €44,449 to €363,190
- Financial income -€200,944
down €200,944 (-40.8%), from €492,355 to €291,411
- Taxes -€95,642
down €95,642 (-39.0%), from €245,129 to €149,487
- Staff costs -€53,317
down €53,317 (-7.7%), from €690,613 to €637,295
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.
Cash bridge derived
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 | €9,777,160 | €16,312,353 | +€6.5m | +66.8% |
| Fixed assets | 21/28 | €8,081,259 | €8,037,267 | -€43,993 | -0.5% |
| Tangible fixed assets | 22/27 | €659,281 | €615,288 | -€43,993 | -6.7% |
| Land and buildings | 22 | €553,699 | €550,921 | -€2,778 | -0.5% |
| Furniture and vehicles | 24 | €105,582 | €64,368 | -€41,215 | -39.0% |
| Financial fixed assets | 28 | €7,421,978 | €7,421,978 | = | 0.0% |
| Current assets | 29/58 | €1,695,900 | €8,275,087 | +€6.6m | +387.9% |
| Amounts receivable within one year | 40/41 | €29,261 | €4,232,878 | +€4.2m | +14365.8% |
| Trade receivables | 40 | €4,013 | €155,340 | +€151,327 | +3771.1% |
| Other amounts receivable | 41 | €25,249 | €4,077,538 | +€4.1m | +16049.6% |
| Current investments | 50/53 | €1,600,000 | €3,500,000 | +€1.9m | +118.8% |
| Cash at bank and in hand | 54/58 | €38,991 | €519,671 | +€480,680 | +1232.8% |
| Deferred charges and accrued income | 490/1 | €27,648 | €22,538 | -€5,110 | -18.5% |
| Total equity and liabilities | 10/49 | €9,777,160 | €16,312,353 | +€6.5m | +66.8% |
| Equity | 10/15 | €8,649,005 | €8,673,004 | +€23,999 | +0.3% |
| Contributions | 10/11 | €2,825,986 | €2,825,986 | = | 0.0% |
| Capital | 10 | €2,825,986 | €2,825,986 | = | 0.0% |
| Issued capital | 100 | €2,825,986 | €2,825,986 | = | 0.0% |
| Reserves | 13 | €5,782,599 | €5,782,599 | = | 0.0% |
| Non-distributable reserves | 130/1 | €282,599 | €282,599 | = | 0.0% |
| Legal reserve | 130 | €282,599 | €282,599 | = | 0.0% |
| Distributable reserves | 133 | €5,500,000 | €5,500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,421 | €64,420 | +€23,999 | +59.4% |
| Amounts payable | 17/49 | €1,128,155 | €7,639,349 | +€6.5m | +577.2% |
| Amounts payable within one year | 42/48 | €1,099,020 | €7,609,643 | +€6.5m | +592.4% |
| Trade debts | 44 | €14,908 | €32,007 | +€17,098 | +114.7% |
| Suppliers | 440/4 | €14,908 | €32,007 | +€17,098 | +114.7% |
| Taxes, remuneration and social security | 45 | €128,423 | €146,980 | +€18,557 | +14.4% |
| Taxes | 450/3 | €28,773 | €31,826 | +€3,053 | +10.6% |
| Remuneration and social security | 454/9 | €99,650 | €115,154 | +€15,504 | +15.6% |
| Other amounts payable | 47/48 | €955,689 | €7,430,657 | +€6.5m | +677.5% |
| Accrued charges and deferred income | 492/3 | €29,134 | €29,706 | +€572 | +2.0% |
| Remuneration, social security and pensions | 62 | €690,613 | €637,295 | -€53,317 | -7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,002 | €49,171 | +€1,169 | +2.4% |
| Other operating charges | 640/8 | €48,866 | €41,984 | -€6,882 | -14.1% |
| Gross operating margin | 9900 | €1,739,482 | €1,373,714 | -€365,768 | -21.0% |
| Operating profit (loss) | 9901 | €952,002 | €645,265 | -€306,738 | -32.2% |
| Financial income | 75/76B | €492,355 | €291,411 | -€200,944 | -40.8% |
| Recurring financial income | 75 | €492,355 | €291,411 | -€200,944 | -40.8% |
| Financial charges | 65/66B | €44,449 | €363,190 | +€318,741 | +717.1% |
| Recurring financial charges | 65 | €44,449 | €363,190 | +€318,741 | +717.1% |
| Profit (loss) for the period before taxes | 9903 | €1,399,909 | €573,486 | -€826,423 | -59.0% |
| Income taxes | 67/77 | €245,129 | €149,487 | -€95,642 | -39.0% |
| Profit (loss) for the period | 9904 | €1,154,780 | €423,999 | -€730,781 | -63.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,154,780 | €423,999 | -€730,781 | -63.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.