ORTEC: 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.
ORTEC
Largest movements
- Tangible fixed assets -€43,416
down €43,416 (-14.9%), from €291,846 to €248,429
of which Land and buildings: -€42,121
- Cash +€35,604
up €35,604 (+108%), from €32,873 to €68,476
mainly Other debts (+€85,325) and Depreciation (+€47,775)
- Receivables within one year +€11,861
up €11,861 (+80.1%), from €14,808 to €26,668
of which Trade receivables: +€7,943
- Other debts +€85,325
up €85,325 (+58,724%), from €145 to €85,471
- Reserves -€71,676
down €71,676 (-49.4%), from €144,994 to €73,318
- Debts after one year -€19,744
down €19,744 (-9.6%), from €205,950 to €186,206
- Trade debts +€7,584
up €7,584 (+1,168%), from €650 to €8,234
- Depreciation +€44,458
up €44,458 (+1,341%), from €3,316 to €47,775
- Taxes -€12,720
down €12,720 (-61.4%), from €20,718 to €7,998
- Write-downs -€7,712
no longer reported in 2025 (was €7,712)
- Gross operating margin -€6,501
down €6,501 (-7.5%), from €86,150 to €79,649
- Financial charges +€5,756
up €5,756 (+97.9%), from €5,882 to €11,637
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 | €409,973 | €416,987 | +€7,014 | +1.7% |
| Fixed assets | 21/28 | €291,846 | €248,429 | -€43,416 | -14.9% |
| Tangible fixed assets | 22/27 | €291,846 | €248,429 | -€43,416 | -14.9% |
| Land and buildings | 22 | €279,948 | €237,826 | -€42,121 | -15.0% |
| Plant, machinery and equipment | 23 | €1,750 | €1,548 | -€202 | -11.6% |
| Furniture and vehicles | 24 | €865 | €310 | -€555 | -64.1% |
| Other tangible fixed assets | 26 | €9,283 | €8,745 | -€538 | -5.8% |
| Current assets | 29/58 | €118,127 | €168,557 | +€50,430 | +42.7% |
| Amounts receivable after more than one year | 29 | €59,000 | €59,000 | = | 0.0% |
| Other amounts receivable | 291 | €59,000 | €59,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €14,808 | €26,668 | +€11,861 | +80.1% |
| Trade receivables | 40 | €14,182 | €22,125 | +€7,943 | +56.0% |
| Other amounts receivable | 41 | €626 | €4,543 | +€3,918 | +626% |
| Cash at bank and in hand | 54/58 | €32,873 | €68,476 | +€35,604 | +108% |
| Deferred charges and accrued income | 490/1 | €11,447 | €14,413 | +€2,966 | +25.9% |
| Total equity and liabilities | 10/49 | €409,973 | €416,987 | +€7,014 | +1.7% |
| Equity | 10/15 | €163,594 | €91,918 | -€71,676 | -43.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €144,994 | €73,318 | -€71,676 | -49.4% |
| Distributable reserves | 133 | €144,994 | €73,318 | -€71,676 | -49.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | 0.0% |
| Amounts payable | 17/49 | €246,379 | €325,069 | +€78,690 | +31.9% |
| Amounts payable after more than one year | 17 | €205,950 | €186,206 | -€19,744 | -9.6% |
| Financial debts | 170/4 | €205,950 | €186,206 | -€19,744 | -9.6% |
| Amounts payable within one year | 42/48 | €40,083 | €136,688 | +€96,606 | +241% |
| Current portion of amounts payable after more than one year | 42 | €19,050 | €21,358 | +€2,308 | +12.1% |
| Trade debts | 44 | €650 | €8,234 | +€7,584 | +1,168% |
| Suppliers | 440/4 | €650 | €8,234 | +€7,584 | +1,168% |
| Taxes, remuneration and social security | 45 | €20,238 | €21,626 | +€1,388 | +6.9% |
| Taxes | 450/3 | €20,238 | €21,626 | +€1,388 | +6.9% |
| Other amounts payable | 47/48 | €145 | €85,471 | +€85,325 | +58,724% |
| Accrued charges and deferred income | 492/3 | €346 | €2,175 | +€1,829 | +529% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,316 | €47,775 | +€44,458 | +1,341% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,712 | - | -€7,712 | |
| Other operating charges | 640/8 | €594 | €1,394 | +€800 | +135% |
| Non-recurring operating charges | 66A | €215 | - | -€215 | |
| Gross operating margin | 9900 | €86,150 | €79,649 | -€6,501 | -7.5% |
| Operating profit (loss) | 9901 | €74,312 | €30,480 | -€43,832 | -59.0% |
| Financial income | 75/76B | €2,469 | €2,950 | +€481 | +19.5% |
| Recurring financial income | 75 | €2,469 | €2,950 | +€481 | +19.5% |
| Financial charges | 65/66B | €5,882 | €11,637 | +€5,756 | +97.9% |
| Recurring financial charges | 65 | €5,882 | €11,637 | +€5,756 | +97.9% |
| Profit (loss) for the period before taxes | 9903 | €70,899 | €21,793 | -€49,106 | -69.3% |
| Income taxes | 67/77 | €20,718 | €7,998 | -€12,720 | -61.4% |
| Profit (loss) for the period | 9904 | €50,181 | €13,795 | -€36,386 | -72.5% |
| Profit (loss) for the period to be appropriated | 9905 | €50,181 | €13,795 | -€36,386 | -72.5% |
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 13 October 2026 via checked.be.