ORTHAYE: 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.
ORTHAYE
Largest movements
- Current investments +€325,000
up €325,000 (+650.0%), from €50,000 to €375,000
- Cash -€306,766
down €306,766 (-52.9%), from €580,055 to €273,289
mainly Current investments (-€325,000) and Contributions, distributions and other (-€200,000)
- Tangible fixed assets -€14,018
down €14,018 (-29.5%), from €47,566 to €33,548
- Other debts +€150,617
new in 2025: €150,617
- Tax, wage and social debts -€87,126
down €87,126 (-56.2%), from €154,985 to €67,859
of which Taxes: -€85,048
- Reserves -€67,000
down €67,000 (-12.1%), from €552,000 to €485,000
- Gross operating margin -€115,209
down €115,209 (-38.5%), from €298,930 to €183,721
- Taxes -€31,709
down €31,709 (-44.6%), from €71,127 to €39,418
- Financial income -€6,691
down €6,691 (-59.6%), from €11,221 to €4,530
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 | €719,562 | €716,423 | -€3,139 | -0.4% |
| Fixed assets | 21/28 | €47,566 | €33,548 | -€14,018 | -29.5% |
| Tangible fixed assets | 22/27 | €47,566 | €33,548 | -€14,018 | -29.5% |
| Furniture and vehicles | 24 | €47,566 | €33,548 | -€14,018 | -29.5% |
| Current assets | 29/58 | €671,996 | €682,875 | +€10,879 | +1.6% |
| Amounts receivable within one year | 40/41 | €39,749 | €32,630 | -€7,119 | -17.9% |
| Trade receivables | 40 | €19,753 | €20,730 | +€977 | +4.9% |
| Other amounts receivable | 41 | €19,996 | €11,900 | -€8,096 | -40.5% |
| Current investments | 50/53 | €50,000 | €375,000 | +€325,000 | +650.0% |
| Cash at bank and in hand | 54/58 | €580,055 | €273,289 | -€306,766 | -52.9% |
| Deferred charges and accrued income | 490/1 | €2,192 | €1,956 | -€236 | -10.8% |
| Total equity and liabilities | 10/49 | €719,562 | €716,423 | -€3,139 | -0.4% |
| Equity | 10/15 | €562,487 | €496,743 | -€65,744 | -11.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €552,000 | €485,000 | -€67,000 | -12.1% |
| Distributable reserves | 133 | €552,000 | €485,000 | -€67,000 | -12.1% |
| Profit (loss) carried forward | 14 | €487 | €1,743 | +€1,256 | +257.9% |
| Amounts payable | 17/49 | €157,075 | €219,680 | +€62,605 | +39.9% |
| Amounts payable within one year | 42/48 | €157,075 | €219,680 | +€62,605 | +39.9% |
| Trade debts | 44 | €2,090 | €1,204 | -€886 | -42.4% |
| Suppliers | 440/4 | €2,090 | €1,204 | -€886 | -42.4% |
| Taxes, remuneration and social security | 45 | €154,985 | €67,859 | -€87,126 | -56.2% |
| Taxes | 450/3 | €152,907 | €67,859 | -€85,048 | -55.6% |
| Remuneration and social security | 454/9 | €2,078 | - | -€2,078 | |
| Other amounts payable | 47/48 | - | €150,617 | +€150,617 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,788 | €14,018 | +€230 | +1.7% |
| Other operating charges | 640/8 | €62 | €462 | +€400 | +645.2% |
| Gross operating margin | 9900 | €298,930 | €183,721 | -€115,209 | -38.5% |
| Operating profit (loss) | 9901 | €285,080 | €169,241 | -€115,839 | -40.6% |
| Financial income | 75/76B | €11,221 | €4,530 | -€6,691 | -59.6% |
| Recurring financial income | 75 | €11,221 | €4,530 | -€6,691 | -59.6% |
| Financial charges | 65/66B | €96 | €97 | +€1 | +1.0% |
| Recurring financial charges | 65 | €96 | €97 | +€1 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | €296,205 | €173,674 | -€122,531 | -41.4% |
| Income taxes | 67/77 | €71,127 | €39,418 | -€31,709 | -44.6% |
| Profit (loss) for the period | 9904 | €225,078 | €134,256 | -€90,822 | -40.4% |
| Profit (loss) for the period to be appropriated | 9905 | €225,078 | €134,256 | -€90,822 | -40.4% |
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 12 October 2026 via checked.be.