ORTHEVAL: 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.
What changed
ORTHEVAL
NACE 86.995, Nutrition and dietetics services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€190,766
2024 · €193,825-€3,059
Equity
€2.6m
2024 · €2.6m-€23,931
Cash
€878,986
2024 · €903,845-€24,859
Balance sheet total
€3.3m
2024 · €3.2m+€171,878
Largest movements
Assets
- Tangible fixed assets +€210,861
up €210,861 (+11.4%), from €1.8m to €2.1m
of which Assets under construction and advance payments: +€257,997
Equity and liabilities
- Other debts +€166,203
up €166,203 (+39.2%), from €423,596 to €589,799
Income statement
- Gross operating margin +€22,896
up €22,896 (+3.3%), from €690,527 to €713,423
- Staff costs +€18,090
up €18,090 (+7.7%), from €235,158 to €253,248
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.
Result 2024
€193,825
Gross operating margin
+€22,896
Staff costs
-€18,090
Depreciation
+€1,021
Other operating charges
-€7,112
Financial income
+€3,314
Financial charges
-€3,035
Taxes
-€2,054
Result 2025
€190,766
raises the resultlowers the result
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.
From operations
+€537,977
Investment
-€343,029
Financing
-€219,807
Cash 2024
€903,845
From operations (derived)
+€537,977
Net result for the year
+€190,766
Depreciation
+€132,168
Receivables within one year
+€9,880
Deferred charges and accrued income
+€4,244
Trade debts
+€2,712
Tax, wage and social debts
+€18,113
Other debts
+€166,203
Accrued charges and deferred income
+€13,891
Investment (derived)
-€343,029
Investment in fixed assets (net)
-€343,029
Financing
-€219,807
Debts after one year
-€67
Current portion of long-term debt
-€5,044
Contributions, distributions and other
-€214,697
Cash 2025
€878,986
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,164,111 | €3,335,989 | +€171,878 | +5.4% |
| Fixed assets | 21/28 | €1,848,356 | €2,059,216 | +€210,861 | +11.4% |
| Tangible fixed assets | 22/27 | €1,848,232 | €2,059,092 | +€210,861 | +11.4% |
| Land and buildings | 22 | €1,731,529 | €1,712,209 | -€19,320 | -1.1% |
| Furniture and vehicles | 24 | €104,254 | €76,437 | -€27,816 | -26.7% |
| Assets under construction and advance payments | 27 | €12,449 | €270,446 | +€257,997 | +2,072% |
| Financial fixed assets | 28 | €124 | €124 | = | 0.0% |
| Current assets | 29/58 | €1,315,755 | €1,276,773 | -€38,983 | -3.0% |
| Amounts receivable within one year | 40/41 | €110,860 | €100,979 | -€9,880 | -8.9% |
| Trade receivables | 40 | €93,747 | €100,979 | +€7,232 | +7.7% |
| Other amounts receivable | 41 | €17,112 | €0 | -€17,112 | -100% |
| Current investments | 50/53 | €260,829 | €260,829 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €903,845 | €878,986 | -€24,859 | -2.8% |
| Deferred charges and accrued income | 490/1 | €40,222 | €35,978 | -€4,244 | -10.6% |
| Total equity and liabilities | 10/49 | €3,164,111 | €3,335,989 | +€171,878 | +5.4% |
| Equity | 10/15 | €2,587,311 | €2,563,380 | -€23,931 | -0.9% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €2,181,228 | €2,157,297 | -€23,931 | -1.1% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €2,143,728 | €2,119,797 | -€23,931 | -1.1% |
| Profit (loss) carried forward | 14 | €306,083 | €306,083 | = | 0.0% |
| Amounts payable | 17/49 | €576,800 | €772,608 | +€195,809 | +33.9% |
| Amounts payable after more than one year | 17 | €2,572 | €2,505 | -€67 | -2.6% |
| Financial debts | 170/4 | €2,572 | €0 | -€2,572 | -100% |
| Other amounts payable | 178/9 | - | €2,505 | +€2,505 | |
| Amounts payable within one year | 42/48 | €574,228 | €756,212 | +€181,985 | +31.7% |
| Current portion of amounts payable after more than one year | 42 | €7,616 | €2,572 | -€5,044 | -66.2% |
| Trade debts | 44 | €22,220 | €24,932 | +€2,712 | +12.2% |
| Suppliers | 440/4 | €22,220 | €24,932 | +€2,712 | +12.2% |
| Taxes, remuneration and social security | 45 | €120,796 | €138,909 | +€18,113 | +15.0% |
| Taxes | 450/3 | €88,149 | €102,240 | +€14,091 | +16.0% |
| Remuneration and social security | 454/9 | €32,647 | €36,669 | +€4,022 | +12.3% |
| Other amounts payable | 47/48 | €423,596 | €589,799 | +€166,203 | +39.2% |
| Accrued charges and deferred income | 492/3 | - | €13,891 | +€13,891 | |
| Remuneration, social security and pensions | 62 | €235,158 | €253,248 | +€18,090 | +7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €133,189 | €132,168 | -€1,021 | -0.8% |
| Other operating charges | 640/8 | €23,999 | €31,111 | +€7,112 | +29.6% |
| Gross operating margin | 9900 | €690,527 | €713,423 | +€22,896 | +3.3% |
| Operating profit (loss) | 9901 | €298,181 | €296,896 | -€1,285 | -0.4% |
| Financial income | 75/76B | €2,037 | €5,351 | +€3,314 | +163% |
| Recurring financial income | 75 | €2,037 | €5,351 | +€3,314 | +163% |
| Financial charges | 65/66B | €12,607 | €15,641 | +€3,035 | +24.1% |
| Recurring financial charges | 65 | €12,607 | €15,641 | +€3,035 | +24.1% |
| Profit (loss) for the period before taxes | 9903 | €287,611 | €286,606 | -€1,005 | -0.3% |
| Income taxes | 67/77 | €93,786 | €95,840 | +€2,054 | +2.2% |
| Profit (loss) for the period | 9904 | €193,825 | €190,766 | -€3,059 | -1.6% |
| Profit (loss) for the period to be appropriated | 9905 | €193,825 | €190,766 | -€3,059 | -1.6% |
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.