ORTHO.JDM: 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.JDM
Largest movements
- Cash -€120,375
down €120,375 (-90.4%), from €133,218 to €12,843
mainly Contributions, distributions and other (-€572,851) and Other debts (-€75,354)
- Current investments -€105,046
down €105,046 (-28.9%), from €363,178 to €258,132
- Intangible fixed assets -€72,064
down €72,064 (-33.4%), from €216,064 to €144,000
- Tangible fixed assets +€64,790
up €64,790 (+57.7%), from €112,324 to €177,114
of which Assets under construction and advance payments: +€66,237
- Receivables within one year +€21,024
up €21,024 (+13.0%), from €161,933 to €182,957
- Reserves -€129,876
down €129,876 (-98.6%), from €131,736 to €1,860
of which Distributable reserves: -€129,876
- Other debts -€75,354
down €75,354 (-14.3%), from €528,740 to €453,386
- Debts after one year -€35,743
down €35,743 (-18.7%), from €191,281 to €155,538
- Trade debts +€13,341
up €13,341 (+484%), from €2,759 to €16,099
- Current portion of long-term debt +€12,205
up €12,205 (+11.9%), from €102,225 to €114,431
- Financial charges +€56,154
up €56,154, from -€12,369 to €43,785
- Gross operating margin -€32,181
down €32,181 (-4.4%), from €733,194 to €701,013
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 | €990,106 | €776,939 | -€213,167 | -21.5% |
| Fixed assets | 21/28 | €330,263 | €321,114 | -€9,149 | -2.8% |
| Intangible fixed assets | 21 | €216,064 | €144,000 | -€72,064 | -33.4% |
| Tangible fixed assets | 22/27 | €112,324 | €177,114 | +€64,790 | +57.7% |
| Furniture and vehicles | 24 | €1,955 | €2,656 | +€701 | +35.9% |
| Other tangible fixed assets | 26 | €17,182 | €15,033 | -€2,148 | -12.5% |
| Assets under construction and advance payments | 27 | €93,187 | €159,424 | +€66,237 | +71.1% |
| Financial fixed assets | 28 | €1,875 | €0 | -€1,875 | -100% |
| Current assets | 29/58 | €659,843 | €455,825 | -€204,018 | -30.9% |
| Amounts receivable within one year | 40/41 | €161,933 | €182,957 | +€21,024 | +13.0% |
| Trade receivables | 40 | €161,933 | €182,957 | +€21,024 | +13.0% |
| Current investments | 50/53 | €363,178 | €258,132 | -€105,046 | -28.9% |
| Cash at bank and in hand | 54/58 | €133,218 | €12,843 | -€120,375 | -90.4% |
| Deferred charges and accrued income | 490/1 | €1,514 | €1,893 | +€379 | +25.1% |
| Total equity and liabilities | 10/49 | €990,106 | €776,939 | -€213,167 | -21.5% |
| Equity | 10/15 | €150,336 | €20,460 | -€129,876 | -86.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €131,736 | €1,860 | -€129,876 | -98.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €129,876 | €0 | -€129,876 | -100% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €839,770 | €756,479 | -€83,291 | -9.9% |
| Amounts payable after more than one year | 17 | €191,281 | €155,538 | -€35,743 | -18.7% |
| Financial debts | 170/4 | €191,281 | €155,538 | -€35,743 | -18.7% |
| Amounts payable within one year | 42/48 | €648,174 | €600,926 | -€47,248 | -7.3% |
| Current portion of amounts payable after more than one year | 42 | €102,225 | €114,431 | +€12,205 | +11.9% |
| Trade debts | 44 | €2,759 | €16,099 | +€13,341 | +484% |
| Suppliers | 440/4 | €2,759 | €16,099 | +€13,341 | +484% |
| Taxes, remuneration and social security | 45 | €14,450 | €17,010 | +€2,560 | +17.7% |
| Taxes | 450/3 | €14,450 | €17,010 | +€2,560 | +17.7% |
| Other amounts payable | 47/48 | €528,740 | €453,386 | -€75,354 | -14.3% |
| Accrued charges and deferred income | 492/3 | €315 | €15 | -€300 | -95.2% |
| Non-recurring operating income | 76A | - | €250 | +€250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,736 | €75,610 | -€125 | -0.2% |
| Other operating charges | 640/8 | €1,578 | €1,931 | +€353 | +22.4% |
| Gross operating margin | 9900 | €733,194 | €701,013 | -€32,181 | -4.4% |
| Operating profit (loss) | 9901 | €655,880 | €623,471 | -€32,409 | -4.9% |
| Financial income | 75/76B | €25,247 | €23,526 | -€1,721 | -6.8% |
| Recurring financial income | 75 | €25,247 | €23,526 | -€1,721 | -6.8% |
| Financial charges | 65/66B | -€12,369 | €43,785 | +€56,154 | |
| Recurring financial charges | 65 | -€12,369 | €43,785 | +€56,154 | |
| Profit (loss) for the period before taxes | 9903 | €693,496 | €603,213 | -€90,284 | -13.0% |
| Income taxes | 67/77 | €165,313 | €160,238 | -€5,075 | -3.1% |
| Profit (loss) for the period | 9904 | €528,183 | €442,975 | -€85,208 | -16.1% |
| Profit (loss) for the period to be appropriated | 9905 | €528,183 | €442,975 | -€85,208 | -16.1% |
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 27 October 2026 via checked.be.