ORES is responsible for managing the electricity and gas distribution networks in over 75% of the Communes in Wallonia. The staff of ORES scrl, a subsidiary of ORES Assets scrl, is made up of some 2,300 men and women who, each day, enable 2.5 million Walloons to benefit from basic services: access to electricity, natural gas, and communal public lighting. Every year since its creation in 2009, ORES has invested on average some 250 million euros in the distribution networks. The company generates an annual consolidated turnover of more than 1 billion euros.
Responsible for the operation of the distribution networks, ORES also has to search for the financing resources needed to develop its activities and make them sustainable. ORES’ financing resources are guaranteed by ORES Assets.
ORES’ statutory accounts have been drawn up according to Belgian financial reporting standards (BGAAP). Shareholdings in the company Atrias is consolidated in ORES in accordance with Belgian financial reporting standards and, on a voluntary basis, in accordance with IFRS standards. An analysis of the consolidated risks has also been carried out.