TWO ORANGES: 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.
TWO ORANGES
Largest movements
- Tangible fixed assets +€25,957
up €25,957 (+62.2%), from €41,699 to €67,656
of which Other tangible fixed assets: +€36,638
- Cash +€12,251
up €12,251 (+21.2%), from €57,852 to €70,103
mainly Net result for the year (+€53,456) and Depreciation (+€23,831)
- Receivables within one year -€3,091
down €3,091 (-12.8%), from €24,067 to €20,977
of which Other amounts receivable: -€4,710
- Profit (loss) carried forward +€53,456
new in 2025: €53,456
- Current portion of long-term debt -€7,016
down €7,016 (-56.9%), from €12,331 to €5,315
- Other debts -€5,927
down €5,927 (-46.7%), from €12,680 to €6,753
- Debts after one year -€5,315
no longer reported in 2025 (was €5,315)
- Trade debts -€2,808
down €2,808 (-88.5%), from €3,172 to €364
- Gross operating margin +€38,409
up €38,409 (+66.4%), from €57,828 to €96,237
- Depreciation +€12,626
up €12,626 (+113%), from €11,206 to €23,831
- Taxes +€5,573
up €5,573 (+58.7%), from €9,500 to €15,074
- Staff costs +€1,911
up €1,911 (+300%), from €636 to €2,548
- Financial charges -€1,720
down €1,720 (-75.4%), from €2,281 to €561
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €124,601 | €158,736 | +€34,135 | +27.4% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €41,699 | €67,656 | +€25,957 | +62.2% |
| Tangible fixed assets | 22/27 | €41,699 | €67,656 | +€25,957 | +62.2% |
| Plant, machinery and equipment | 23 | €1,669 | €1,227 | -€442 | -26.5% |
| Furniture and vehicles | 24 | €34,699 | €24,460 | -€10,239 | -29.5% |
| Other tangible fixed assets | 26 | €5,331 | €41,969 | +€36,638 | +687% |
| Current assets | 29/58 | €82,902 | €91,080 | +€8,178 | +9.9% |
| Amounts receivable within one year | 40/41 | €24,067 | €20,977 | -€3,091 | -12.8% |
| Trade receivables | 40 | €19,358 | €20,977 | +€1,619 | +8.4% |
| Other amounts receivable | 41 | €4,710 | - | -€4,710 | |
| Cash at bank and in hand | 54/58 | €57,852 | €70,103 | +€12,251 | +21.2% |
| Deferred charges and accrued income | 490/1 | €983 | - | -€983 | |
| Total equity and liabilities | 10/49 | €124,601 | €158,736 | +€34,135 | +27.4% |
| Equity | 10/15 | €82,029 | €135,484 | +€53,456 | +65.2% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €69,529 | €69,529 | = | 0.0% |
| Distributable reserves | 133 | €69,529 | €69,529 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €53,456 | +€53,456 | |
| Amounts payable | 17/49 | €42,572 | €23,252 | -€19,321 | -45.4% |
| Amounts payable after more than one year | 17 | €5,315 | - | -€5,315 | |
| Financial debts | 170/4 | €5,315 | - | -€5,315 | |
| Amounts payable within one year | 42/48 | €36,324 | €23,252 | -€13,072 | -36.0% |
| Current portion of amounts payable after more than one year | 42 | €12,331 | €5,315 | -€7,016 | -56.9% |
| Trade debts | 44 | €3,172 | €364 | -€2,808 | -88.5% |
| Suppliers | 440/4 | €3,172 | €364 | -€2,808 | -88.5% |
| Taxes, remuneration and social security | 45 | €8,141 | €10,820 | +€2,679 | +32.9% |
| Taxes | 450/3 | €7,947 | €10,820 | +€2,873 | +36.1% |
| Remuneration and social security | 454/9 | €194 | - | -€194 | |
| Other amounts payable | 47/48 | €12,680 | €6,753 | -€5,927 | -46.7% |
| Accrued charges and deferred income | 492/3 | €933 | - | -€933 | |
| Remuneration, social security and pensions | 62 | €636 | €2,548 | +€1,911 | +300% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,206 | €23,831 | +€12,626 | +113% |
| Other operating charges | 640/8 | €269 | €773 | +€504 | +188% |
| Gross operating margin | 9900 | €57,828 | €96,237 | +€38,409 | +66.4% |
| Operating profit (loss) | 9901 | €45,718 | €69,086 | +€23,368 | +51.1% |
| Financial income | 75/76B | €247 | €4 | -€243 | -98.3% |
| Recurring financial income | 75 | €247 | €4 | -€243 | -98.3% |
| Financial charges | 65/66B | €2,281 | €561 | -€1,720 | -75.4% |
| Recurring financial charges | 65 | €2,281 | €561 | -€1,720 | -75.4% |
| Profit (loss) for the period before taxes | 9903 | €43,684 | €68,529 | +€24,846 | +56.9% |
| Income taxes | 67/77 | €9,500 | €15,074 | +€5,573 | +58.7% |
| Profit (loss) for the period | 9904 | €34,183 | €53,456 | +€19,272 | +56.4% |
| Profit (loss) for the period to be appropriated | 9905 | €34,183 | €53,456 | +€19,272 | +56.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.