THE ORIENTAL EXPRESS: what changed
What changed
THE ORIENTAL EXPRESS
NACE 46.499, Wholesale of other household goods
filed annual accounts (NBB)
Net result for the year
€306,177
2024 · €340,624-€34,447
Equity
€4.9m
2024 · €4.6m+€306,177
Cash
€27,283
2024 · €5,203+€22,080
Balance sheet total
€14.7m
2024 · €15.0m-€322,959
Largest movements
Assets
- Tangible fixed assets -€349,693
down €349,693 (-2.3%), from €15.0m to €14.7m
Equity and liabilities
- Debts after one year -€700,972
down €700,972 (-7.9%), from €8.9m to €8.2m
- Profit (loss) carried forward +€360,125
up €360,125 (+12.2%), from €3.0m to €3.3m
Income statement
- Gross operating margin -€94,723
down €94,723 (-10.4%), from €910,465 to €815,742
- Financial charges -€20,452
down €20,452 (-10.2%), from €200,054 to €179,602
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€340,624
Gross operating margin
-€94,723
Depreciation
+€808
Financial charges
+€20,452
Taxes
+€20
Deferred taxes and other
+€38,996
Result 2025
€306,177
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€628,481
Investment
€0
Financing
-€606,401
Cash 2024
€5,203
From operations (derived)
+€628,481
Net result for the year
+€306,177
Depreciation
+€349,693
Receivables within one year
-€4,654
Provisions
-€19,850
Trade debts
+€15,109
Tax, wage and social debts
+€1,000
Other debts
-€18,994
Financing
-€606,401
Debts after one year
-€700,972
Current portion of long-term debt
+€12,071
Short-term financial debts
+€82,500
Cash 2025
€27,283
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,031,911 | €14,708,952 | -€322,959 | -2.1% |
| Fixed assets | 21/28 | €15,026,708 | €14,677,015 | -€349,693 | -2.3% |
| Tangible fixed assets | 22/27 | €15,026,708 | €14,677,015 | -€349,693 | -2.3% |
| Land and buildings | 22 | €15,026,708 | €14,677,015 | -€349,693 | -2.3% |
| Current assets | 29/58 | €5,203 | €31,937 | +€26,734 | +514% |
| Amounts receivable within one year | 40/41 | - | €4,654 | +€4,654 | |
| Trade receivables | 40 | - | €4,654 | +€4,654 | |
| Cash at bank and in hand | 54/58 | €5,203 | €27,283 | +€22,080 | +424% |
| Total equity and liabilities | 10/49 | €15,031,911 | €14,708,952 | -€322,959 | -2.1% |
| Equity | 10/15 | €4,610,075 | €4,916,252 | +€306,177 | +6.6% |
| Contributions | 10/11 | €113,432 | €113,432 | = | 0.0% |
| Reserves | 13 | €1,537,454 | €1,483,506 | -€53,948 | -3.5% |
| Non-distributable reserves | 130/1 | €11,343 | €11,343 | = | 0.0% |
| Reserves not available under the articles | 1311 | €11,343 | €11,343 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,526,111 | €1,472,163 | -€53,948 | -3.5% |
| Profit (loss) carried forward | 14 | €2,959,189 | €3,319,314 | +€360,125 | +12.2% |
| Provisions and deferred taxes | 16 | €554,061 | €534,211 | -€19,850 | -3.6% |
| Deferred taxes | 168 | €554,061 | €534,211 | -€19,850 | -3.6% |
| Amounts payable | 17/49 | €9,867,775 | €9,258,489 | -€609,286 | -6.2% |
| Amounts payable after more than one year | 17 | €8,888,998 | €8,188,026 | -€700,972 | -7.9% |
| Financial debts | 170/4 | €8,888,998 | €8,188,026 | -€700,972 | -7.9% |
| Amounts payable within one year | 42/48 | €978,777 | €1,070,463 | +€91,686 | +9.4% |
| Current portion of amounts payable after more than one year | 42 | €688,902 | €700,973 | +€12,071 | +1.8% |
| Financial debts | 43 | €262,500 | €345,000 | +€82,500 | +31.4% |
| Other loans | 439 | €262,500 | €345,000 | +€82,500 | +31.4% |
| Trade debts | 44 | €4,528 | €19,637 | +€15,109 | +334% |
| Suppliers | 440/4 | €4,528 | €19,637 | +€15,109 | +334% |
| Taxes, remuneration and social security | 45 | €3,853 | €4,853 | +€1,000 | +26.0% |
| Taxes | 450/3 | €3,853 | €4,853 | +€1,000 | +26.0% |
| Other amounts payable | 47/48 | €18,994 | - | -€18,994 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €350,501 | €349,693 | -€808 | -0.2% |
| Gross operating margin | 9900 | €910,465 | €815,742 | -€94,723 | -10.4% |
| Operating profit (loss) | 9901 | €559,964 | €466,049 | -€93,915 | -16.8% |
| Financial charges | 65/66B | €200,054 | €179,602 | -€20,452 | -10.2% |
| Recurring financial charges | 65 | €200,054 | €179,602 | -€20,452 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | €359,910 | €286,447 | -€73,463 | -20.4% |
| Transfer from deferred taxes | 780 | €19,850 | €19,850 | = | 0.0% |
| Transfer to deferred taxes | 680 | €38,996 | - | -€38,996 | |
| Income taxes | 67/77 | €140 | €120 | -€20 | -14.3% |
| Profit (loss) for the period | 9904 | €340,624 | €306,177 | -€34,447 | -10.1% |
| Transfer from tax-exempt reserves | 789 | €53,948 | €53,948 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €116,986 | - | -€116,986 | |
| Profit (loss) for the period to be appropriated | 9905 | €277,586 | €360,125 | +€82,539 | +29.7% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.