ORTHO-AV: 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.
ORTHO-AV
Largest movements
- Tangible fixed assets -€11,275
down €11,275 (-2.3%), from €491,911 to €480,636
of which Land and buildings: -€10,312
- Receivables within one year +€7,905
up €7,905 (+157%), from €5,048 to €12,953
- Debts after one year -€69,684
down €69,684 (-31.0%), from €224,808 to €155,124
- Current portion of long-term debt +€40,155
new in 2025: €40,155
- Reserves +€14,000
up €14,000 (+7.9%), from €176,510 to €190,510
- Other debts +€11,519
up €11,519 (+28.9%), from €39,893 to €51,412
- Gross operating margin -€51,463
down €51,463 (-49.7%), from €103,607 to €52,144
- Taxes -€16,647
down €16,647 (-68.9%), from €24,162 to €7,515
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 | €550,545 | €541,107 | -€9,438 | -1.7% |
| Fixed assets | 21/28 | €491,911 | €480,636 | -€11,275 | -2.3% |
| Tangible fixed assets | 22/27 | €491,911 | €480,636 | -€11,275 | -2.3% |
| Land and buildings | 22 | €488,938 | €478,625 | -€10,312 | -2.1% |
| Furniture and vehicles | 24 | €2,974 | €2,011 | -€963 | -32.4% |
| Current assets | 29/58 | €58,634 | €60,471 | +€1,837 | +3.1% |
| Amounts receivable within one year | 40/41 | €5,048 | €12,953 | +€7,905 | +157% |
| Other amounts receivable | 41 | €5,048 | €12,953 | +€7,905 | +157% |
| Current investments | 50/53 | €53 | €53 | +€0 | +0.4% |
| Cash at bank and in hand | 54/58 | €4,578 | €1,168 | -€3,410 | -74.5% |
| Deferred charges and accrued income | 490/1 | €48,955 | €46,297 | -€2,658 | -5.4% |
| Total equity and liabilities | 10/49 | €550,545 | €541,107 | -€9,438 | -1.7% |
| Equity | 10/15 | €273,445 | €287,573 | +€14,128 | +5.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €176,510 | €190,510 | +€14,000 | +7.9% |
| Distributable reserves | 133 | €176,510 | €190,510 | +€14,000 | +7.9% |
| Profit (loss) carried forward | 14 | €78,335 | €78,463 | +€128 | +0.2% |
| Amounts payable | 17/49 | €277,101 | €253,534 | -€23,566 | -8.5% |
| Amounts payable after more than one year | 17 | €224,808 | €155,124 | -€69,684 | -31.0% |
| Financial debts | 170/4 | €224,808 | €155,124 | -€69,684 | -31.0% |
| Amounts payable within one year | 42/48 | €52,293 | €98,411 | +€46,118 | +88.2% |
| Current portion of amounts payable after more than one year | 42 | - | €40,155 | +€40,155 | |
| Financial debts | 43 | €599 | €1,559 | +€959 | +160% |
| Credit institutions | 430/8 | €599 | €1,559 | +€959 | +160% |
| Trade debts | 44 | €5,533 | €2,939 | -€2,594 | -46.9% |
| Suppliers | 440/4 | €5,533 | €2,939 | -€2,594 | -46.9% |
| Taxes, remuneration and social security | 45 | €6,268 | €2,346 | -€3,922 | -62.6% |
| Taxes | 450/3 | €6,268 | €2,346 | -€3,922 | -62.6% |
| Other amounts payable | 47/48 | €39,893 | €51,412 | +€11,519 | +28.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,240 | €11,275 | +€36 | +0.3% |
| Other operating charges | 640/8 | €5,350 | €5,496 | +€146 | +2.7% |
| Gross operating margin | 9900 | €103,607 | €52,144 | -€51,463 | -49.7% |
| Operating profit (loss) | 9901 | €87,018 | €35,373 | -€51,645 | -59.3% |
| Financial income | 75/76B | €8 | €20 | +€13 | +165% |
| Recurring financial income | 75 | €8 | €20 | +€13 | +165% |
| Financial charges | 65/66B | €12,985 | €13,750 | +€765 | +5.9% |
| Recurring financial charges | 65 | €12,985 | €13,750 | +€765 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | €74,041 | €21,643 | -€52,398 | -70.8% |
| Income taxes | 67/77 | €24,162 | €7,515 | -€16,647 | -68.9% |
| Profit (loss) for the period | 9904 | €49,879 | €14,128 | -€35,751 | -71.7% |
| Profit (loss) for the period to be appropriated | 9905 | €49,879 | €14,128 | -€35,751 | -71.7% |
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 20 October 2026 via checked.be.