ORTHO NAJM: 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 NAJM
Largest movements
- Cash +€70,731
up €70,731 (+25.0%), from €283,274 to €354,005
mainly Net result for the year (+€118,530) and Other debts (+€57,747)
- Receivables within one year +€12,670
new in 2025: €12,670
- Deferred charges and accrued income +€11,347
up €11,347 (+353%), from €3,217 to €14,564
- Other debts +€57,747
up €57,747 (+39.7%), from €145,336 to €203,083
- Reserves +€28,000
up €28,000 (+5.0%), from €562,874 to €590,874
of which Distributable reserves: +€28,000
- Trade debts +€23,285
up €23,285 (+1,053%), from €2,212 to €25,496
- Debts after one year -€11,817
down €11,817 (-33.1%), from €35,653 to €23,836
- Gross operating margin -€19,688
down €19,688 (-10.1%), from €194,349 to €174,661
- Taxes -€18,395
down €18,395 (-30.7%), from €59,997 to €41,602
- Financial income -€11,646
down €11,646 (-99.9%), from €11,653 to €7
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 | €967,078 | €1,059,997 | +€92,919 | +9.6% |
| Fixed assets | 21/28 | €130,587 | €128,758 | -€1,828 | -1.4% |
| Tangible fixed assets | 22/27 | €130,587 | €128,758 | -€1,828 | -1.4% |
| Land and buildings | 22 | €111,916 | €107,444 | -€4,472 | -4.0% |
| Plant, machinery and equipment | 23 | €16,905 | €13,841 | -€3,064 | -18.1% |
| Furniture and vehicles | 24 | €1,766 | €7,473 | +€5,707 | +323% |
| Current assets | 29/58 | €836,492 | €931,239 | +€94,748 | +11.3% |
| Amounts receivable within one year | 40/41 | - | €12,670 | +€12,670 | |
| Other amounts receivable | 41 | - | €12,670 | +€12,670 | |
| Current investments | 50/53 | €550,000 | €550,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €283,274 | €354,005 | +€70,731 | +25.0% |
| Deferred charges and accrued income | 490/1 | €3,217 | €14,564 | +€11,347 | +353% |
| Total equity and liabilities | 10/49 | €967,078 | €1,059,997 | +€92,919 | +9.6% |
| Equity | 10/15 | €716,094 | €744,624 | +€28,530 | +4.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €562,874 | €590,874 | +€28,000 | +5.0% |
| Tax-exempt reserves | 132 | €38,014 | €38,014 | = | 0.0% |
| Distributable reserves | 133 | €524,860 | €552,860 | +€28,000 | +5.3% |
| Profit (loss) carried forward | 14 | €134,620 | €135,150 | +€530 | +0.4% |
| Amounts payable | 17/49 | €250,984 | €315,373 | +€64,389 | +25.7% |
| Amounts payable after more than one year | 17 | €35,653 | €23,836 | -€11,817 | -33.1% |
| Financial debts | 170/4 | €35,653 | €23,836 | -€11,817 | -33.1% |
| Amounts payable within one year | 42/48 | €214,258 | €290,463 | +€76,206 | +35.6% |
| Current portion of amounts payable after more than one year | 42 | €41,410 | €41,084 | -€326 | -0.8% |
| Trade debts | 44 | €2,212 | €25,496 | +€23,285 | +1,053% |
| Suppliers | 440/4 | €2,212 | €25,496 | +€23,285 | +1,053% |
| Taxes, remuneration and social security | 45 | €25,300 | €20,800 | -€4,500 | -17.8% |
| Taxes | 450/3 | €25,300 | €20,800 | -€4,500 | -17.8% |
| Other amounts payable | 47/48 | €145,336 | €203,083 | +€57,747 | +39.7% |
| Accrued charges and deferred income | 492/3 | €1,073 | €1,073 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,684 | €9,923 | +€239 | +2.5% |
| Other operating charges | 640/8 | €1,031 | €998 | -€32 | -3.1% |
| Gross operating margin | 9900 | €194,349 | €174,661 | -€19,688 | -10.1% |
| Operating profit (loss) | 9901 | €183,634 | €163,739 | -€19,895 | -10.8% |
| Financial income | 75/76B | €11,653 | €7 | -€11,646 | -99.9% |
| Recurring financial income | 75 | €11,653 | €7 | -€11,646 | -99.9% |
| Financial charges | 65/66B | €2,713 | €3,613 | +€900 | +33.2% |
| Recurring financial charges | 65 | €2,713 | €3,613 | +€900 | +33.2% |
| Profit (loss) for the period before taxes | 9903 | €192,574 | €160,133 | -€32,441 | -16.8% |
| Income taxes | 67/77 | €59,997 | €41,602 | -€18,395 | -30.7% |
| Profit (loss) for the period | 9904 | €132,577 | €118,530 | -€14,047 | -10.6% |
| Profit (loss) for the period to be appropriated | 9905 | €132,577 | €118,530 | -€14,047 | -10.6% |
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 30 October 2026 via checked.be.