ORZESZEK: 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.
ORZESZEK
Largest movements
- Receivables within one year +€62,897
up €62,897 (+46.3%), from €135,852 to €198,749
of which Trade receivables: +€60,839
- Cash -€19,907
down €19,907 (-13.0%), from €152,712 to €132,805
mainly Receivables within one year (-€62,897) and Trade debts (-€58,854)
- Tangible fixed assets +€6,892
up €6,892 (+7.6%), from €90,668 to €97,560
of which Other tangible fixed assets: +€5,132
- Deferred charges and accrued income +€5,631
new in 2025: €5,631
- Profit (loss) carried forward +€96,501
up €96,501 (+103.4%), from €93,356 to €189,858
- Trade debts -€58,854
down €58,854 (-41.7%), from €141,160 to €82,306
- Tax, wage and social debts +€14,154
up €14,154 (+7.1%), from €200,385 to €214,539
- Staff costs -€301,531
down €301,531 (-53.7%), from €561,780 to €260,249
- Gross operating margin -€298,397
down €298,397 (-41.3%), from €723,189 to €424,792
- Taxes -€155,555
down €155,555 (-79.1%), from €196,699 to €41,143
- Financial charges -€22,132
down €22,132 (-72.7%), from €30,438 to €8,306
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 | €455,361 | €507,163 | +€51,802 | +11.4% |
| Fixed assets | 21/28 | €91,366 | €98,258 | +€6,892 | +7.5% |
| Tangible fixed assets | 22/27 | €90,668 | €97,560 | +€6,892 | +7.6% |
| Plant, machinery and equipment | 23 | €90,668 | €92,428 | +€1,760 | +1.9% |
| Other tangible fixed assets | 26 | - | €5,132 | +€5,132 | |
| Financial fixed assets | 28 | €698 | €698 | = | 0.0% |
| Current assets | 29/58 | €363,995 | €408,905 | +€44,910 | +12.3% |
| Stocks and contracts in progress | 3 | €75,431 | €71,721 | -€3,710 | -4.9% |
| Stocks | 30/36 | €75,431 | €71,721 | -€3,710 | -4.9% |
| Amounts receivable within one year | 40/41 | €135,852 | €198,749 | +€62,897 | +46.3% |
| Trade receivables | 40 | €135,852 | €196,691 | +€60,839 | +44.8% |
| Other amounts receivable | 41 | - | €2,058 | +€2,058 | |
| Cash at bank and in hand | 54/58 | €152,712 | €132,805 | -€19,907 | -13.0% |
| Deferred charges and accrued income | 490/1 | - | €5,631 | +€5,631 | |
| Total equity and liabilities | 10/49 | €455,361 | €507,163 | +€51,802 | +11.4% |
| Equity | 10/15 | €113,816 | €210,318 | +€96,501 | +84.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €93,356 | €189,858 | +€96,501 | +103.4% |
| Amounts payable | 17/49 | €341,544 | €296,845 | -€44,699 | -13.1% |
| Amounts payable within one year | 42/48 | €341,544 | €296,845 | -€44,699 | -13.1% |
| Trade debts | 44 | €141,160 | €82,306 | -€58,854 | -41.7% |
| Suppliers | 440/4 | €141,160 | €82,306 | -€58,854 | -41.7% |
| Taxes, remuneration and social security | 45 | €200,385 | €214,539 | +€14,154 | +7.1% |
| Taxes | 450/3 | €200,385 | €214,539 | +€14,154 | +7.1% |
| Remuneration, social security and pensions | 62 | €561,780 | €260,249 | -€301,531 | -53.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,724 | €16,489 | +€6,765 | +69.6% |
| Other operating charges | 640/8 | €4,505 | €2,104 | -€2,401 | -53.3% |
| Gross operating margin | 9900 | €723,189 | €424,792 | -€298,397 | -41.3% |
| Operating profit (loss) | 9901 | €147,179 | €145,950 | -€1,229 | -0.8% |
| Financial income | 75/76B | €477 | - | -€477 | |
| Recurring financial income | 75 | €477 | - | -€477 | |
| Financial charges | 65/66B | €30,438 | €8,306 | -€22,132 | -72.7% |
| Recurring financial charges | 65 | €30,438 | €8,306 | -€22,132 | -72.7% |
| Profit (loss) for the period before taxes | 9903 | €117,218 | €137,645 | +€20,427 | +17.4% |
| Income taxes | 67/77 | €196,699 | €41,143 | -€155,555 | -79.1% |
| Profit (loss) for the period | 9904 | -€79,481 | €96,501 | +€175,982 | |
| Profit (loss) for the period to be appropriated | 9905 | -€79,481 | €96,501 | +€175,982 |
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 10 October 2026 via checked.be.