D.E. ORTHO: 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.
D.E. ORTHO
Largest movements
- Cash -€198,765
down €198,765 (-41.8%), from €476,016 to €277,251
mainly Debts after one year (-€219,466) and Investment in fixed assets (net) (-€203,257)
- Receivables within one year +€172,844
up €172,844 (+384.4%), from €44,968 to €217,812
of which Other amounts receivable: +€173,488
- Tangible fixed assets -€114,527
down €114,527 (-6.5%), from €1.8m to €1.7m
of which Leasing and similar rights: -€112,087
- Debts after one year -€219,466
down €219,466 (-30.2%), from €727,603 to €508,138
- Reserves +€213,056
up €213,056 (+22.0%), from €967,218 to €1.2m
of which Distributable reserves: +€213,056
- Trade debts -€197,311
down €197,311 (-92.3%), from €213,800 to €16,489
- Other debts +€64,590
up €64,590 (+302.8%), from €21,332 to €85,922
- Gross operating margin +€325,635
up €325,635 (+19.3%), from €1.7m to €2.0m
- Staff costs +€267,394
up €267,394 (+28.4%), from €940,895 to €1.2m
- Financial charges +€92,323
up €92,323 (+257.5%), from €35,858 to €128,181
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 | €2,949,623 | €2,812,143 | -€137,480 | -4.7% |
| Fixed assets | 21/28 | €2,185,576 | €2,067,050 | -€118,527 | -5.4% |
| Intangible fixed assets | 21 | €11,879 | €7,879 | -€4,000 | -33.7% |
| Tangible fixed assets | 22/27 | €1,773,697 | €1,659,170 | -€114,527 | -6.5% |
| Land and buildings | 22 | €130,066 | €122,609 | -€7,457 | -5.7% |
| Plant, machinery and equipment | 23 | €32,264 | €22,051 | -€10,213 | -31.7% |
| Furniture and vehicles | 24 | €175,694 | €212,134 | +€36,440 | +20.7% |
| Leasing and similar rights | 25 | €749,359 | €637,272 | -€112,087 | -15.0% |
| Other tangible fixed assets | 26 | €686,314 | €665,104 | -€21,210 | -3.1% |
| Financial fixed assets | 28 | €400,000 | €400,000 | = | 0.0% |
| Current assets | 29/58 | €764,047 | €745,093 | -€18,953 | -2.5% |
| Amounts receivable after more than one year | 29 | €200,000 | €200,000 | = | 0.0% |
| Other amounts receivable | 291 | €200,000 | €200,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €44,968 | €217,812 | +€172,844 | +384.4% |
| Trade receivables | 40 | €2,230 | €1,586 | -€644 | -28.9% |
| Other amounts receivable | 41 | €42,738 | €216,226 | +€173,488 | +405.9% |
| Cash at bank and in hand | 54/58 | €476,016 | €277,251 | -€198,765 | -41.8% |
| Deferred charges and accrued income | 490/1 | €43,063 | €50,031 | +€6,967 | +16.2% |
| Total equity and liabilities | 10/49 | €2,949,623 | €2,812,143 | -€137,480 | -4.7% |
| Equity | 10/15 | €1,583,540 | €1,796,596 | +€213,056 | +13.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €967,218 | €1,180,275 | +€213,056 | +22.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €967,218 | €1,180,275 | +€213,056 | +22.0% |
| Profit (loss) carried forward | 14 | €603,922 | €603,922 | = | 0.0% |
| Amounts payable | 17/49 | €1,366,083 | €1,015,547 | -€350,536 | -25.7% |
| Amounts payable after more than one year | 17 | €727,603 | €508,138 | -€219,466 | -30.2% |
| Financial debts | 170/4 | €727,603 | €508,138 | -€219,466 | -30.2% |
| Amounts payable within one year | 42/48 | €600,329 | €446,809 | -€153,520 | -25.6% |
| Current portion of amounts payable after more than one year | 42 | €234,277 | €219,466 | -€14,811 | -6.3% |
| Financial debts | 43 | €5,420 | €7,475 | +€2,055 | +37.9% |
| Credit institutions | 430/8 | €5,420 | €7,475 | +€2,055 | +37.9% |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €213,800 | €16,489 | -€197,311 | -92.3% |
| Suppliers | 440/4 | €213,800 | €16,489 | -€197,311 | -92.3% |
| Taxes, remuneration and social security | 45 | €125,500 | €117,457 | -€8,042 | -6.4% |
| Taxes | 450/3 | €41,937 | €44,140 | +€2,203 | +5.3% |
| Remuneration and social security | 454/9 | €83,563 | €73,317 | -€10,245 | -12.3% |
| Other amounts payable | 47/48 | €21,332 | €85,922 | +€64,590 | +302.8% |
| Accrued charges and deferred income | 492/3 | €38,151 | €60,600 | +€22,449 | +58.8% |
| Remuneration, social security and pensions | 62 | €940,895 | €1,208,289 | +€267,394 | +28.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €311,417 | €321,784 | +€10,367 | +3.3% |
| Other operating charges | 640/8 | €67,081 | €53,430 | -€13,651 | -20.3% |
| Non-recurring operating charges | 66A | €137 | - | -€137 | |
| Gross operating margin | 9900 | €1,686,649 | €2,012,284 | +€325,635 | +19.3% |
| Operating profit (loss) | 9901 | €367,119 | €428,782 | +€61,662 | +16.8% |
| Financial income | 75/76B | €685 | €18,290 | +€17,605 | +2570.2% |
| Recurring financial income | 75 | €685 | €18,290 | +€17,605 | +2570.2% |
| Financial charges | 65/66B | €35,858 | €128,181 | +€92,323 | +257.5% |
| Recurring financial charges | 65 | €35,858 | €128,181 | +€92,323 | +257.5% |
| Profit (loss) for the period before taxes | 9903 | €331,946 | €318,891 | -€13,055 | -3.9% |
| Income taxes | 67/77 | €120,550 | €105,835 | -€14,716 | -12.2% |
| Profit (loss) for the period | 9904 | €211,396 | €213,056 | +€1,660 | +0.8% |
| Profit (loss) for the period to be appropriated | 9905 | €211,396 | €213,056 | +€1,660 | +0.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.