MAN 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.
MAN ORTHO
Largest movements
- Cash +€63,366
up €63,366 (+90.8%), from €69,776 to €133,142
mainly Other debts (+€83,592) and Net result for the year (+€70,106)
- Receivables within one year +€13,766
up €13,766 (+21.2%), from €64,811 to €78,577
of which Other amounts receivable: +€30,941
- Other debts +€83,592
new in 2025: €83,592
- Profit (loss) carried forward -€34,287
down €34,287 (-100%), from €34,287 to €0
- Tax, wage and social debts +€30,286
up €30,286 (+101%), from €29,933 to €60,220
- Gross operating margin +€13,811
up €13,811 (+18.1%), from €76,100 to €89,911
- Taxes -€3,306
down €3,306 (-15.5%), from €21,362 to €18,056
- Financial charges +€3,171
up €3,171 (+1,129%), from €281 to €3,452
- Financial income +€1,279
up €1,279 (+80.7%), from €1,586 to €2,865
- Other operating charges +€1,162
new in 2025: €1,162
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 | €135,057 | €212,671 | +€77,614 | +57.5% |
| Current assets | 29/58 | €135,057 | €212,671 | +€77,614 | +57.5% |
| Amounts receivable within one year | 40/41 | €64,811 | €78,577 | +€13,766 | +21.2% |
| Trade receivables | 40 | €17,175 | €0 | -€17,175 | -100% |
| Other amounts receivable | 41 | €47,636 | €78,577 | +€30,941 | +65.0% |
| Cash at bank and in hand | 54/58 | €69,776 | €133,142 | +€63,366 | +90.8% |
| Deferred charges and accrued income | 490/1 | €470 | €953 | +€482 | +103% |
| Total equity and liabilities | 10/49 | €135,057 | €212,671 | +€77,614 | +57.5% |
| Equity | 10/15 | €100,331 | €66,043 | -€34,287 | -34.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €56,043 | €56,043 | = | 0.0% |
| Distributable reserves | 133 | €56,043 | €56,043 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,287 | €0 | -€34,287 | -100% |
| Amounts payable | 17/49 | €34,726 | €146,628 | +€111,902 | +322% |
| Amounts payable within one year | 42/48 | €34,726 | €146,628 | +€111,902 | +322% |
| Trade debts | 44 | €4,793 | €2,817 | -€1,976 | -41.2% |
| Suppliers | 440/4 | €4,793 | €2,817 | -€1,976 | -41.2% |
| Taxes, remuneration and social security | 45 | €29,933 | €60,220 | +€30,286 | +101% |
| Taxes | 450/3 | €29,933 | €60,220 | +€30,286 | +101% |
| Other amounts payable | 47/48 | - | €83,592 | +€83,592 | |
| Other operating charges | 640/8 | - | €1,162 | +€1,162 | |
| Gross operating margin | 9900 | €76,100 | €89,911 | +€13,811 | +18.1% |
| Operating profit (loss) | 9901 | €76,100 | €88,749 | +€12,649 | +16.6% |
| Financial income | 75/76B | €1,586 | €2,865 | +€1,279 | +80.7% |
| Recurring financial income | 75 | €1,586 | €2,865 | +€1,279 | +80.7% |
| Financial charges | 65/66B | €281 | €3,452 | +€3,171 | +1,129% |
| Recurring financial charges | 65 | €281 | €3,452 | +€3,171 | +1,129% |
| Profit (loss) for the period before taxes | 9903 | €77,405 | €88,162 | +€10,757 | +13.9% |
| Income taxes | 67/77 | €21,362 | €18,056 | -€3,306 | -15.5% |
| Profit (loss) for the period | 9904 | €56,043 | €70,106 | +€14,063 | +25.1% |
| Profit (loss) for the period to be appropriated | 9905 | €56,043 | €70,106 | +€14,063 | +25.1% |
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 22 October 2026 via checked.be.