LO-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.
LO-ORTHO
Largest movements
- Receivables within one year +€258,057
up €258,057 (+386%), from €66,891 to €324,948
of which Other amounts receivable: +€258,118
- Cash +€215,773
up €215,773 (+62.1%), from €347,401 to €563,174
mainly Net result for the year (+€576,796) and Other debts (+€239,389)
- Current investments -€131,715
down €131,715 (-10.2%), from €1.3m to €1.2m
- Tangible fixed assets -€32,223
down €32,223 (-4.8%), from €677,807 to €645,584
- Other debts +€239,389
up €239,389 (+1,983%), from €12,074 to €251,463
- Reserves +€107,617
up €107,617 (+4.9%), from €2.2m to €2.3m
- Gross operating margin +€86,358
up €86,358 (+10.3%), from €834,856 to €921,213
- Taxes +€34,335
up €34,335 (+14.5%), from €236,362 to €270,697
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 | €2,392,022 | €2,712,837 | +€320,816 | +13.4% |
| Fixed assets | 21/28 | €677,807 | €645,584 | -€32,223 | -4.8% |
| Tangible fixed assets | 22/27 | €677,807 | €645,584 | -€32,223 | -4.8% |
| Land and buildings | 22 | €520,887 | €510,476 | -€10,410 | -2.0% |
| Plant, machinery and equipment | 23 | €9,989 | €6,028 | -€3,961 | -39.7% |
| Furniture and vehicles | 24 | €50,564 | €39,133 | -€11,431 | -22.6% |
| Other tangible fixed assets | 26 | €96,368 | €89,947 | -€6,421 | -6.7% |
| Current assets | 29/58 | €1,714,214 | €2,067,254 | +€353,039 | +20.6% |
| Amounts receivable within one year | 40/41 | €66,891 | €324,948 | +€258,057 | +386% |
| Trade receivables | 40 | €60 | €0 | -€60 | -100% |
| Other amounts receivable | 41 | €66,831 | €324,948 | +€258,118 | +386% |
| Current investments | 50/53 | €1,290,579 | €1,158,864 | -€131,715 | -10.2% |
| Cash at bank and in hand | 54/58 | €347,401 | €563,174 | +€215,773 | +62.1% |
| Deferred charges and accrued income | 490/1 | €9,343 | €20,267 | +€10,924 | +117% |
| Total equity and liabilities | 10/49 | €2,392,022 | €2,712,837 | +€320,816 | +13.4% |
| Equity | 10/15 | €2,207,459 | €2,315,076 | +€107,617 | +4.9% |
| Contributions | 10/11 | €14,000 | €14,000 | = | 0.0% |
| Reserves | 13 | €2,193,459 | €2,301,076 | +€107,617 | +4.9% |
| Distributable reserves | 133 | €2,193,459 | €2,301,076 | +€107,617 | +4.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €184,563 | €397,761 | +€213,199 | +116% |
| Amounts payable after more than one year | 17 | €72,454 | €58,455 | -€13,999 | -19.3% |
| Financial debts | 170/4 | €72,454 | €58,455 | -€13,999 | -19.3% |
| Amounts payable within one year | 42/48 | €107,897 | €334,769 | +€226,872 | +210% |
| Current portion of amounts payable after more than one year | 42 | €34,941 | €13,999 | -€20,942 | -59.9% |
| Trade debts | 44 | €690 | €2,698 | +€2,008 | +291% |
| Suppliers | 440/4 | €690 | €2,698 | +€2,008 | +291% |
| Taxes, remuneration and social security | 45 | €60,193 | €66,608 | +€6,416 | +10.7% |
| Taxes | 450/3 | €51,357 | €57,429 | +€6,072 | +11.8% |
| Remuneration and social security | 454/9 | €8,836 | €9,179 | +€343 | +3.9% |
| Other amounts payable | 47/48 | €12,074 | €251,463 | +€239,389 | +1,983% |
| Accrued charges and deferred income | 492/3 | €4,211 | €4,538 | +€326 | +7.8% |
| Remuneration, social security and pensions | 62 | €65,561 | €67,540 | +€1,978 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,613 | €33,770 | +€3,158 | +10.3% |
| Other operating charges | 640/8 | €2,896 | €2,921 | +€25 | +0.9% |
| Gross operating margin | 9900 | €834,856 | €921,213 | +€86,358 | +10.3% |
| Operating profit (loss) | 9901 | €735,785 | €816,982 | +€81,197 | +11.0% |
| Financial income | 75/76B | €24,485 | €33,587 | +€9,102 | +37.2% |
| Recurring financial income | 75 | €24,485 | €33,587 | +€9,102 | +37.2% |
| Financial charges | 65/66B | €6,241 | €3,076 | -€3,164 | -50.7% |
| Recurring financial charges | 65 | €6,241 | €3,076 | -€3,164 | -50.7% |
| Profit (loss) for the period before taxes | 9903 | €754,029 | €847,493 | +€93,464 | +12.4% |
| Income taxes | 67/77 | €236,362 | €270,697 | +€34,335 | +14.5% |
| Profit (loss) for the period | 9904 | €517,667 | €576,796 | +€59,128 | +11.4% |
| Profit (loss) for the period to be appropriated | 9905 | €517,667 | €576,796 | +€59,128 | +11.4% |
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 19 October 2026 via checked.be.