P.S.-ORION: 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.
What changed
P.S.-ORION
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€120,557
2024 · €2,384+€118,173
Equity
€757,004
2024 · €636,447+€120,557
Cash
€72,576
2024 · €21,285+€51,291
Balance sheet total
€2.0m
2024 · €2.0m+€30,178
Largest movements
Assets
- Cash +€51,291
up €51,291 (+241%), from €21,285 to €72,576
mainly Net result for the year (+€120,557) and Depreciation (+€108,450)
- Tangible fixed assets -€41,769
down €41,769 (-2.4%), from €1.7m to €1.7m
of which Land and buildings: -€83,029
- Current investments +€20,000
up €20,000 (+2,000%), from €1,000 to €21,000
Equity and liabilities
- Debts after one year -€113,196
down €113,196 (-35.2%), from €321,367 to €208,171
- Reserves +€103,097
up €103,097 (+661%), from €15,595 to €118,693
of which Tax-exempt reserves: +€103,097
- Provisions +€34,366
new in 2025: €34,366
- Current portion of long-term debt -€26,594
down €26,594 (-41.8%), from €63,572 to €36,978
Income statement
- Gross operating margin +€156,023
up €156,023 (+113%), from €138,303 to €294,326
- Depreciation +€7,184
up €7,184 (+7.1%), from €101,266 to €108,450
- Taxes -€5,494
down €5,494 (-100%), from €5,494 to €0
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.
Result 2024
€2,384
Gross operating margin
+€156,023
Staff costs
-€210
Depreciation
-€7,184
Other operating charges
-€707
Financial income
-€314
Financial charges
-€564
Taxes
+€5,494
Deferred taxes and other
-€34,366
Result 2025
€120,557
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€277,762
Investment
-€86,681
Financing
-€139,790
Cash 2024
€21,285
From operations (derived)
+€277,762
Net result for the year
+€120,557
Depreciation
+€108,450
Receivables within one year
+€3,335
Deferred charges and accrued income
-€3,991
Provisions
+€34,366
Trade debts
+€16,789
Tax, wage and social debts
+€1,024
Other debts
-€2,767
Investment (derived)
-€86,681
Investment in fixed assets (net)
-€66,681
Current investments
-€20,000
Financing
-€139,790
Debts after one year
-€113,196
Current portion of long-term debt
-€26,594
Cash 2025
€72,576
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,958,140 | €1,988,318 | +€30,178 | +1.5% |
| Fixed assets | 21/28 | €1,736,760 | €1,694,991 | -€41,769 | -2.4% |
| Tangible fixed assets | 22/27 | €1,736,760 | €1,694,991 | -€41,769 | -2.4% |
| Land and buildings | 22 | €1,607,300 | €1,524,271 | -€83,029 | -5.2% |
| Plant, machinery and equipment | 23 | €78,953 | €128,006 | +€49,053 | +62.1% |
| Furniture and vehicles | 24 | €50,507 | €42,714 | -€7,793 | -15.4% |
| Current assets | 29/58 | €221,379 | €293,326 | +€71,947 | +32.5% |
| Amounts receivable within one year | 40/41 | €196,941 | €193,606 | -€3,335 | -1.7% |
| Trade receivables | 40 | €3,548 | €8,606 | +€5,057 | +143% |
| Other amounts receivable | 41 | €193,393 | €185,001 | -€8,392 | -4.3% |
| Current investments | 50/53 | €1,000 | €21,000 | +€20,000 | +2,000% |
| Cash at bank and in hand | 54/58 | €21,285 | €72,576 | +€51,291 | +241% |
| Deferred charges and accrued income | 490/1 | €2,153 | €6,144 | +€3,991 | +185% |
| Total equity and liabilities | 10/49 | €1,958,140 | €1,988,318 | +€30,178 | +1.5% |
| Equity | 10/15 | €636,447 | €757,004 | +€120,557 | +18.9% |
| Contributions | 10/11 | €722,900 | €722,900 | = | 0.0% |
| Capital | 10 | €722,900 | €722,900 | = | 0.0% |
| Issued capital | 100 | €722,900 | €722,900 | = | 0.0% |
| Reserves | 13 | €15,595 | €118,693 | +€103,097 | +661% |
| Non-distributable reserves | 130/1 | €3,719 | €3,719 | = | 0.0% |
| Legal reserve | 130 | €3,719 | €3,719 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,876 | €114,974 | +€103,097 | +868% |
| Profit (loss) carried forward | 14 | -€102,048 | -€84,589 | +€17,460 | +17.1% |
| Provisions and deferred taxes | 16 | - | €34,366 | +€34,366 | |
| Deferred taxes | 168 | - | €34,366 | +€34,366 | |
| Amounts payable | 17/49 | €1,321,692 | €1,196,948 | -€124,744 | -9.4% |
| Amounts payable after more than one year | 17 | €321,367 | €208,171 | -€113,196 | -35.2% |
| Financial debts | 170/4 | €321,367 | €208,171 | -€113,196 | -35.2% |
| Amounts payable within one year | 42/48 | €1,000,325 | €988,777 | -€11,549 | -1.2% |
| Current portion of amounts payable after more than one year | 42 | €63,572 | €36,978 | -€26,594 | -41.8% |
| Trade debts | 44 | €81 | €16,870 | +€16,789 | +20,730% |
| Suppliers | 440/4 | €81 | €16,870 | +€16,789 | +20,730% |
| Taxes, remuneration and social security | 45 | €1,466 | €2,490 | +€1,024 | +69.8% |
| Taxes | 450/3 | €1,466 | €2,490 | +€1,024 | +69.8% |
| Other amounts payable | 47/48 | €935,206 | €932,439 | -€2,767 | -0.3% |
| Non-recurring operating income | 76A | €0 | €148,171 | +€148,171 | |
| Remuneration, social security and pensions | 62 | - | €210 | +€210 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,266 | €108,450 | +€7,184 | +7.1% |
| Other operating charges | 640/8 | €19,472 | €20,179 | +€707 | +3.6% |
| Gross operating margin | 9900 | €138,303 | €294,326 | +€156,023 | +113% |
| Operating profit (loss) | 9901 | €17,566 | €165,488 | +€147,922 | +842% |
| Financial income | 75/76B | €2,160 | €1,847 | -€314 | -14.5% |
| Recurring financial income | 75 | €2,160 | €1,847 | -€314 | -14.5% |
| Financial charges | 65/66B | €11,848 | €12,412 | +€564 | +4.8% |
| Recurring financial charges | 65 | €11,848 | €12,412 | +€564 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | €7,878 | €154,922 | +€147,044 | +1,866% |
| Transfer from deferred taxes | 780 | - | €2,532 | +€2,532 | |
| Transfer to deferred taxes | 680 | - | €36,898 | +€36,898 | |
| Income taxes | 67/77 | €5,494 | €0 | -€5,494 | -100% |
| Profit (loss) for the period | 9904 | €2,384 | €120,557 | +€118,173 | +4,957% |
| Transfer from tax-exempt reserves | 789 | - | €7,597 | +€7,597 | |
| Transfer to tax-exempt reserves | 689 | - | €110,694 | +€110,694 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,384 | €17,460 | +€15,075 | +632% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.