ORTHO-PASSION: 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-PASSION
Largest movements
- Tangible fixed assets +€22,221
up €22,221 (+4.1%), from €542,600 to €564,821
of which Furniture and vehicles: +€55,342
- Deferred charges and accrued income +€20,342
up €20,342 (+367%), from €5,543 to €25,885
- Cash +€18,111
up €18,111 (+23.1%), from €78,248 to €96,359
mainly Depreciation (+€58,279) and Debts after one year (+€21,271)
- Debts after one year +€21,271
up €21,271 (+10.2%), from €208,256 to €229,527
- Reserves +€19,680
up €19,680 (+4.7%), from €418,095 to €437,775
- Current portion of long-term debt +€13,551
up €13,551 (+68.9%), from €19,678 to €33,229
- Other debts +€13,265
new in 2025: €13,265
- Financial charges +€74,249
up €74,249 (+151%), from €49,279 to €123,528
- Gross operating margin +€29,754
up €29,754 (+15.8%), from €187,853 to €217,607
- Taxes -€13,792
down €13,792 (-53.5%), from €25,775 to €11,983
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 | €816,118 | €887,615 | +€71,497 | +8.8% |
| Fixed assets | 21/28 | €542,600 | €564,821 | +€22,221 | +4.1% |
| Tangible fixed assets | 22/27 | €542,600 | €564,821 | +€22,221 | +4.1% |
| Land and buildings | 22 | €416,711 | €400,150 | -€16,561 | -4.0% |
| Plant, machinery and equipment | 23 | €2,303 | €1,604 | -€699 | -30.4% |
| Furniture and vehicles | 24 | €42,755 | €98,097 | +€55,342 | +129% |
| Other tangible fixed assets | 26 | €77,336 | €61,475 | -€15,861 | -20.5% |
| Assets under construction and advance payments | 27 | €3,495 | €3,495 | = | 0.0% |
| Current assets | 29/58 | €273,518 | €322,794 | +€49,276 | +18.0% |
| Amounts receivable after more than one year | 29 | €170,206 | €175,550 | +€5,344 | +3.1% |
| Other amounts receivable | 291 | €170,206 | €175,550 | +€5,344 | +3.1% |
| Amounts receivable within one year | 40/41 | €19,521 | €25,000 | +€5,479 | +28.1% |
| Other amounts receivable | 41 | €19,521 | €25,000 | +€5,479 | +28.1% |
| Cash at bank and in hand | 54/58 | €78,248 | €96,359 | +€18,111 | +23.1% |
| Deferred charges and accrued income | 490/1 | €5,543 | €25,885 | +€20,342 | +367% |
| Total equity and liabilities | 10/49 | €816,118 | €887,615 | +€71,497 | +8.8% |
| Equity | 10/15 | €574,378 | €594,058 | +€19,680 | +3.4% |
| Contributions | 10/11 | €14,460 | €14,460 | = | 0.0% |
| Reserves | 13 | €418,095 | €437,775 | +€19,680 | +4.7% |
| Distributable reserves | 133 | €418,095 | €437,775 | +€19,680 | +4.7% |
| Profit (loss) carried forward | 14 | €141,823 | €141,823 | = | 0.0% |
| Amounts payable | 17/49 | €241,740 | €293,557 | +€51,817 | +21.4% |
| Amounts payable after more than one year | 17 | €208,256 | €229,527 | +€21,271 | +10.2% |
| Financial debts | 170/4 | €208,256 | €229,527 | +€21,271 | +10.2% |
| Amounts payable within one year | 42/48 | €33,484 | €64,030 | +€30,546 | +91.2% |
| Current portion of amounts payable after more than one year | 42 | €19,678 | €33,229 | +€13,551 | +68.9% |
| Trade debts | 44 | €8,903 | €4,648 | -€4,255 | -47.8% |
| Suppliers | 440/4 | €8,903 | €4,648 | -€4,255 | -47.8% |
| Taxes, remuneration and social security | 45 | €4,903 | €12,888 | +€7,985 | +163% |
| Taxes | 450/3 | €1,695 | €12,888 | +€11,193 | +660% |
| Remuneration and social security | 454/9 | €3,208 | - | -€3,208 | |
| Other amounts payable | 47/48 | - | €13,265 | +€13,265 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,722 | €58,279 | +€557 | +1.0% |
| Other operating charges | 640/8 | €2,562 | €4,454 | +€1,892 | +73.8% |
| Gross operating margin | 9900 | €187,853 | €217,607 | +€29,754 | +15.8% |
| Operating profit (loss) | 9901 | €127,569 | €154,874 | +€27,305 | +21.4% |
| Financial income | 75/76B | €286 | €317 | +€31 | +10.8% |
| Recurring financial income | 75 | €286 | €317 | +€31 | +10.8% |
| Financial charges | 65/66B | €49,279 | €123,528 | +€74,249 | +151% |
| Recurring financial charges | 65 | €49,279 | €123,528 | +€74,249 | +151% |
| Profit (loss) for the period before taxes | 9903 | €78,576 | €31,663 | -€46,913 | -59.7% |
| Income taxes | 67/77 | €25,775 | €11,983 | -€13,792 | -53.5% |
| Profit (loss) for the period | 9904 | €52,801 | €19,680 | -€33,121 | -62.7% |
| Profit (loss) for the period to be appropriated | 9905 | €52,801 | €19,680 | -€33,121 | -62.7% |
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 31 October 2026 via checked.be.