EXCLUSIF 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.
EXCLUSIF ORTHO
Largest movements
- Tangible fixed assets -€19,455
down €19,455 (-9.7%), from €200,524 to €181,070
- Receivables within one year +€17,874
up €17,874 (+38.5%), from €46,470 to €64,344
- Cash -€13,834
down €13,834 (-25.4%), from €54,571 to €40,737
mainly Debts after one year (-€24,231) and Receivables within one year (-€17,874)
- Debts after one year -€24,231
down €24,231 (-18.7%), from €129,325 to €105,094
- Trade debts +€9,676
up €9,676 (+50.3%), from €19,245 to €28,921
- Current portion of long-term debt -€4,493
down €4,493 (-15.6%), from €28,725 to €24,231
- Staff costs +€36,888
up €36,888 (+32.0%), from €115,170 to €152,058
- Gross operating margin +€23,937
up €23,937 (+13.8%), from €173,654 to €197,591
- Taxes -€5,252
down €5,252 (-71.7%), from €7,321 to €2,070
- Other operating charges -€4,622
down €4,622 (-48.1%), from €9,618 to €4,996
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 | €305,314 | €288,025 | -€17,289 | -5.7% |
| Fixed assets | 21/28 | €200,524 | €181,070 | -€19,455 | -9.7% |
| Tangible fixed assets | 22/27 | €200,524 | €181,070 | -€19,455 | -9.7% |
| Land and buildings | 22 | €152,141 | €144,702 | -€7,439 | -4.9% |
| Plant, machinery and equipment | 23 | €32,836 | €23,184 | -€9,652 | -29.4% |
| Furniture and vehicles | 24 | €15,547 | €13,183 | -€2,364 | -15.2% |
| Current assets | 29/58 | €104,789 | €106,955 | +€2,166 | +2.1% |
| Amounts receivable within one year | 40/41 | €46,470 | €64,344 | +€17,874 | +38.5% |
| Trade receivables | 40 | €46,470 | €64,344 | +€17,874 | +38.5% |
| Cash at bank and in hand | 54/58 | €54,571 | €40,737 | -€13,834 | -25.4% |
| Deferred charges and accrued income | 490/1 | €3,748 | €1,874 | -€1,874 | -50.0% |
| Total equity and liabilities | 10/49 | €305,314 | €288,025 | -€17,289 | -5.7% |
| Equity | 10/15 | €97,702 | €97,897 | +€195 | +0.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €16,950 | €16,950 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €15,090 | €15,090 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,662 | €59,547 | +€886 | +1.5% |
| Investment grants | 15 | €15,891 | €15,200 | -€691 | -4.3% |
| Amounts payable | 17/49 | €207,612 | €190,128 | -€17,484 | -8.4% |
| Amounts payable after more than one year | 17 | €129,325 | €105,094 | -€24,231 | -18.7% |
| Financial debts | 170/4 | €129,325 | €105,094 | -€24,231 | -18.7% |
| Amounts payable within one year | 42/48 | €77,913 | €84,567 | +€6,654 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | €28,725 | €24,231 | -€4,493 | -15.6% |
| Trade debts | 44 | €19,245 | €28,921 | +€9,676 | +50.3% |
| Suppliers | 440/4 | €19,245 | €28,921 | +€9,676 | +50.3% |
| Taxes, remuneration and social security | 45 | €29,526 | €30,537 | +€1,012 | +3.4% |
| Taxes | 450/3 | €16,381 | €12,560 | -€3,820 | -23.3% |
| Remuneration and social security | 454/9 | €13,145 | €17,977 | +€4,832 | +36.8% |
| Other amounts payable | 47/48 | €418 | €878 | +€460 | +110% |
| Accrued charges and deferred income | 492/3 | €373 | €467 | +€93 | +25.0% |
| Remuneration, social security and pensions | 62 | €115,170 | €152,058 | +€36,888 | +32.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,107 | €19,314 | +€207 | +1.1% |
| Other operating charges | 640/8 | €9,618 | €4,996 | -€4,622 | -48.1% |
| Non-recurring operating charges | 66A | - | €11,739 | +€11,739 | |
| Gross operating margin | 9900 | €173,654 | €197,591 | +€23,937 | +13.8% |
| Operating profit (loss) | 9901 | €29,759 | €9,485 | -€20,274 | -68.1% |
| Financial income | 75/76B | €699 | €704 | +€5 | +0.8% |
| Recurring financial income | 75 | €699 | €704 | +€5 | +0.8% |
| Financial charges | 65/66B | €8,047 | €7,233 | -€813 | -10.1% |
| Recurring financial charges | 65 | €8,047 | €7,233 | -€813 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | €22,411 | €2,955 | -€19,456 | -86.8% |
| Income taxes | 67/77 | €7,321 | €2,070 | -€5,252 | -71.7% |
| Profit (loss) for the period | 9904 | €15,090 | €886 | -€14,204 | -94.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,090 | €886 | -€14,204 | -94.1% |
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 26 October 2026 via checked.be.