ORTES: what changed
Two fiscal 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.
ORTES
Largest movements
- Tangible fixed assets +€5,559
up €5,559 (+9.5%), from €58,358 to €63,917
- Cash -€4,181
down €4,181 (-10.1%), from €41,568 to €37,387
mainly Investment in fixed assets (net) (-€15,551) and Receivables within one year (-€1,463)
- Receivables within one year +€1,463
new in 2025: €1,463
- Reserves +€2,500
up €2,500 (+11.6%), from €21,550 to €24,050
of which Distributable reserves: +€2,500
- Gross operating margin -€7,879
down €7,879 (-18.8%), from €41,977 to €34,097
- Depreciation +€1,269
up €1,269 (+14.6%), from €8,723 to €9,992
- Staff costs +€633
up €633 (+4.1%), from €15,512 to €16,145
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 | €100,540 | €103,720 | +€3,179 | +3.2% |
| Fixed assets | 21/28 | €58,396 | €63,955 | +€5,559 | +9.5% |
| Tangible fixed assets | 22/27 | €58,358 | €63,917 | +€5,559 | +9.5% |
| Land and buildings | 22 | €58,358 | €63,917 | +€5,559 | +9.5% |
| Financial fixed assets | 28 | €37 | €37 | = | 0.0% |
| Current assets | 29/58 | €42,145 | €39,765 | -€2,380 | -5.6% |
| Amounts receivable within one year | 40/41 | - | €1,463 | +€1,463 | |
| Trade receivables | 40 | - | €1,463 | +€1,463 | |
| Cash at bank and in hand | 54/58 | €41,568 | €37,387 | -€4,181 | -10.1% |
| Deferred charges and accrued income | 490/1 | €577 | €915 | +€338 | +58.7% |
| Total equity and liabilities | 10/49 | €100,540 | €103,720 | +€3,179 | +3.2% |
| Equity | 10/15 | €83,557 | €86,125 | +€2,568 | +3.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €21,550 | €24,050 | +€2,500 | +11.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €15,350 | €17,850 | +€2,500 | +16.3% |
| Profit (loss) carried forward | 14 | €7 | €75 | +€68 | +968.8% |
| Amounts payable | 17/49 | €16,983 | €17,595 | +€611 | +3.6% |
| Amounts payable within one year | 42/48 | €15,219 | €16,671 | +€1,452 | +9.5% |
| Trade debts | 44 | €448 | €922 | +€474 | +105.8% |
| Suppliers | 440/4 | €448 | €922 | +€474 | +105.8% |
| Taxes, remuneration and social security | 45 | €3,528 | €3,680 | +€152 | +4.3% |
| Remuneration and social security | 454/9 | €3,528 | €3,680 | +€152 | +4.3% |
| Other amounts payable | 47/48 | €11,244 | €12,070 | +€826 | +7.3% |
| Accrued charges and deferred income | 492/3 | €1,764 | €923 | -€841 | -47.7% |
| Remuneration, social security and pensions | 62 | €15,512 | €16,145 | +€633 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,723 | €9,992 | +€1,269 | +14.6% |
| Other operating charges | 640/8 | €5,239 | €5,403 | +€164 | +3.1% |
| Gross operating margin | 9900 | €41,977 | €34,097 | -€7,879 | -18.8% |
| Operating profit (loss) | 9901 | €12,503 | €2,558 | -€9,945 | -79.5% |
| Financial income | 75/76B | €0 | €11 | +€11 | +17816.7% |
| Recurring financial income | 75 | €0 | €11 | +€11 | +17816.7% |
| Financial charges | 65/66B | €1 | €0 | -€0 | -40.0% |
| Recurring financial charges | 65 | €1 | €0 | -€0 | -40.0% |
| Profit (loss) for the period before taxes | 9903 | €12,502 | €2,568 | -€9,934 | -79.5% |
| Profit (loss) for the period | 9904 | €12,502 | €2,568 | -€9,934 | -79.5% |
| Profit (loss) for the period to be appropriated | 9905 | €12,502 | €2,568 | -€9,934 | -79.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.