JEM-ORTHO: what changed
What changed
JEM-ORTHO
filed annual accounts (NBB)
Net result for the year
€67,541
2024 · €143,827-€76,286
Equity
€955,884
2024 · €888,343+€67,541
Cash
€7,788
2024 · €60,233-€52,445
Balance sheet total
€1.5m
2024 · €1.4m+€166,204
Largest movements
Assets
- Tangible fixed assets +€224,837
up €224,837 (+18.6%), from €1.2m to €1.4m
of which Land and buildings: +€226,102
- Cash -€52,445
down €52,445 (-87.1%), from €60,233 to €7,788
mainly Investment in fixed assets (net) (-€264,341) and Tax, wage and social debts (-€10,049)
Equity and liabilities
- Reserves +€67,541
up €67,541 (+7.7%), from €875,943 to €943,484
of which Distributable reserves: +€73,357
- Trade debts +€66,374
up €66,374 (+164%), from €40,494 to €106,869
- Debts after one year +€28,615
up €28,615 (+13.9%), from €205,335 to €233,950
Income statement
- Gross operating margin -€103,606
down €103,606 (-40.3%), from €256,963 to €153,358
- Taxes -€31,010
down €31,010 (-47.4%), from €65,357 to €34,347
- Depreciation +€6,737
up €6,737 (+20.6%), from €32,767 to €39,504
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
€143,827
Gross operating margin
-€103,606
Depreciation
-€6,737
Other operating charges
-€3
Other operating items
-€590
Financial charges
-€164
Taxes
+€31,010
Deferred taxes and other
+€3,804
Result 2025
€67,541
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
+€170,650
Investment
-€264,341
Financing
+€41,246
Cash 2024
€60,233
From operations (derived)
+€170,650
Net result for the year
+€67,541
Depreciation
+€39,504
Receivables within one year
+€2,905
Deferred charges and accrued income
+€3,283
Provisions
-€1,454
Trade debts
+€66,374
Tax, wage and social debts
-€10,049
Other debts
+€2,545
Investment (derived)
-€264,341
Investment in fixed assets (net)
-€264,341
Financing
+€41,246
Debts after one year
+€28,615
Current portion of long-term debt
+€12,631
Cash 2025
€7,788
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,357,259 | €1,523,463 | +€166,204 | +12.2% |
| Fixed assets | 21/28 | €1,212,023 | €1,436,859 | +€224,837 | +18.6% |
| Tangible fixed assets | 22/27 | €1,211,768 | €1,436,604 | +€224,837 | +18.6% |
| Land and buildings | 22 | €1,137,324 | €1,363,426 | +€226,102 | +19.9% |
| Furniture and vehicles | 24 | €7,180 | €9,039 | +€1,859 | +25.9% |
| Other tangible fixed assets | 26 | €67,264 | €64,140 | -€3,124 | -4.6% |
| Financial fixed assets | 28 | €255 | €255 | = | 0.0% |
| Current assets | 29/58 | €145,236 | €86,604 | -€58,633 | -40.4% |
| Amounts receivable within one year | 40/41 | €80,254 | €77,349 | -€2,905 | -3.6% |
| Trade receivables | 40 | €467 | €102 | -€365 | -78.3% |
| Other amounts receivable | 41 | €79,787 | €77,248 | -€2,539 | -3.2% |
| Cash at bank and in hand | 54/58 | €60,233 | €7,788 | -€52,445 | -87.1% |
| Deferred charges and accrued income | 490/1 | €4,749 | €1,466 | -€3,283 | -69.1% |
| Total equity and liabilities | 10/49 | €1,357,259 | €1,523,463 | +€166,204 | +12.2% |
| Equity | 10/15 | €888,343 | €955,884 | +€67,541 | +7.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €875,943 | €943,484 | +€67,541 | +7.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €142,824 | €137,008 | -€5,816 | -4.1% |
| Distributable reserves | 133 | €731,259 | €804,615 | +€73,357 | +10.0% |
| Provisions and deferred taxes | 16 | €35,706 | €34,252 | -€1,454 | -4.1% |
| Deferred taxes | 168 | €35,706 | €34,252 | -€1,454 | -4.1% |
| Amounts payable | 17/49 | €433,210 | €533,327 | +€100,117 | +23.1% |
| Amounts payable after more than one year | 17 | €205,335 | €233,950 | +€28,615 | +13.9% |
| Financial debts | 170/4 | €205,335 | €233,950 | +€28,615 | +13.9% |
| Amounts payable within one year | 42/48 | €227,875 | €299,377 | +€71,502 | +31.4% |
| Current portion of amounts payable after more than one year | 42 | €65,533 | €78,164 | +€12,631 | +19.3% |
| Trade debts | 44 | €40,494 | €106,869 | +€66,374 | +164% |
| Suppliers | 440/4 | €40,494 | €106,869 | +€66,374 | +164% |
| Taxes, remuneration and social security | 45 | €77,883 | €67,834 | -€10,049 | -12.9% |
| Taxes | 450/3 | €75,883 | €65,834 | -€10,049 | -13.2% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €43,965 | €46,510 | +€2,545 | +5.8% |
| Non-recurring operating income | 76A | €1 | - | -€1 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,767 | €39,504 | +€6,737 | +20.6% |
| Other operating charges | 640/8 | €439 | €442 | +€3 | +0.7% |
| Non-recurring operating charges | 66A | €433 | €1,023 | +€590 | +136% |
| Gross operating margin | 9900 | €256,963 | €153,358 | -€103,606 | -40.3% |
| Operating profit (loss) | 9901 | €223,324 | €112,389 | -€110,935 | -49.7% |
| Financial charges | 65/66B | €11,791 | €11,955 | +€164 | +1.4% |
| Recurring financial charges | 65 | €11,514 | €11,892 | +€379 | +3.3% |
| Non-recurring financial charges | 66B | €277 | €63 | -€215 | -77.4% |
| Profit (loss) for the period before taxes | 9903 | €211,533 | €100,434 | -€111,100 | -52.5% |
| Transfer from deferred taxes | 780 | €16,729 | €1,454 | -€15,275 | -91.3% |
| Transfer to deferred taxes | 680 | €19,078 | - | -€19,078 | |
| Income taxes | 67/77 | €65,357 | €34,347 | -€31,010 | -47.4% |
| Profit (loss) for the period | 9904 | €143,827 | €67,541 | -€76,286 | -53.0% |
| Transfer from tax-exempt reserves | 789 | €66,914 | €5,816 | -€61,098 | -91.3% |
| Transfer to tax-exempt reserves | 689 | €76,314 | - | -€76,314 | |
| Profit (loss) for the period to be appropriated | 9905 | €134,427 | €73,357 | -€61,070 | -45.4% |
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.