ORTHO-MAIN: 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-MAIN
Largest movements
- Cash -€223,918
down €223,918 (-57.8%), from €387,681 to €163,763
mainly Other debts (-€205,263) and Investment in fixed assets (net) (-€105,371)
- Tangible fixed assets +€96,356
up €96,356 (+1,787%), from €5,392 to €101,748
of which Land and buildings: +€69,593
- Receivables within one year -€9,488
down €9,488 (-15.4%), from €61,723 to €52,234
of which Trade receivables: -€23,458
- Other debts -€205,263
down €205,263 (-89.2%), from €230,206 to €24,943
- Advances received +€33,340
new in 2025: €33,340
- Reserves +€32,000
up €32,000 (+12.3%), from €260,100 to €292,100
of which Distributable reserves: +€32,000
- Gross operating margin -€60,428
down €60,428 (-53.8%), from €112,371 to €51,943
- Taxes -€10,574
down €10,574 (-45.7%), from €23,139 to €12,566
- Depreciation +€5,654
up €5,654 (+168%), from €3,361 to €9,015
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 | €531,768 | €393,510 | -€138,258 | -26.0% |
| Fixed assets | 21/28 | €5,552 | €101,908 | +€96,356 | +1,735% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €5,392 | €101,748 | +€96,356 | +1,787% |
| Land and buildings | 22 | €242 | €69,836 | +€69,593 | +28,702% |
| Furniture and vehicles | 24 | €5,150 | €31,912 | +€26,763 | +520% |
| Financial fixed assets | 28 | €160 | €160 | = | 0.0% |
| Current assets | 29/58 | €526,216 | €291,602 | -€234,613 | -44.6% |
| Amounts receivable within one year | 40/41 | €61,723 | €52,234 | -€9,488 | -15.4% |
| Trade receivables | 40 | €48,917 | €25,460 | -€23,458 | -48.0% |
| Other amounts receivable | 41 | €12,805 | €26,775 | +€13,970 | +109% |
| Current investments | 50/53 | €70,000 | €70,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €387,681 | €163,763 | -€223,918 | -57.8% |
| Deferred charges and accrued income | 490/1 | €6,813 | €5,605 | -€1,207 | -17.7% |
| Total equity and liabilities | 10/49 | €531,768 | €393,510 | -€138,258 | -26.0% |
| Equity | 10/15 | €279,337 | €311,600 | +€32,263 | +11.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €260,100 | €292,100 | +€32,000 | +12.3% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €241,350 | €273,350 | +€32,000 | +13.3% |
| Profit (loss) carried forward | 14 | €637 | €900 | +€263 | +41.3% |
| Amounts payable | 17/49 | €252,431 | €81,910 | -€170,521 | -67.6% |
| Amounts payable within one year | 42/48 | €250,718 | €80,528 | -€170,191 | -67.9% |
| Trade debts | 44 | €3,562 | €6,145 | +€2,583 | +72.5% |
| Suppliers | 440/4 | €3,562 | €6,145 | +€2,583 | +72.5% |
| Advances received on contracts in progress | 46 | - | €33,340 | +€33,340 | |
| Taxes, remuneration and social security | 45 | €16,951 | €16,100 | -€851 | -5.0% |
| Taxes | 450/3 | €16,951 | €14,100 | -€2,851 | -16.8% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €230,206 | €24,943 | -€205,263 | -89.2% |
| Accrued charges and deferred income | 492/3 | €1,712 | €1,382 | -€330 | -19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,361 | €9,015 | +€5,654 | +168% |
| Other operating charges | 640/8 | €1,064 | €1,157 | +€93 | +8.7% |
| Gross operating margin | 9900 | €112,371 | €51,943 | -€60,428 | -53.8% |
| Operating profit (loss) | 9901 | €107,947 | €41,772 | -€66,175 | -61.3% |
| Financial income | 75/76B | €4,134 | €5,117 | +€983 | +23.8% |
| Recurring financial income | 75 | €4,134 | €5,117 | +€983 | +23.8% |
| Financial charges | 65/66B | €2,681 | €2,060 | -€621 | -23.1% |
| Recurring financial charges | 65 | €2,681 | €2,060 | -€621 | -23.1% |
| Profit (loss) for the period before taxes | 9903 | €109,399 | €44,828 | -€64,571 | -59.0% |
| Income taxes | 67/77 | €23,139 | €12,566 | -€10,574 | -45.7% |
| Profit (loss) for the period | 9904 | €86,260 | €32,263 | -€53,997 | -62.6% |
| Profit (loss) for the period to be appropriated | 9905 | €86,260 | €32,263 | -€53,997 | -62.6% |
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 21 October 2026 via checked.be.