ORTHO-REALISATION: 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-REALISATION
Largest movements
- Tangible fixed assets +€64,745
up €64,745 (+19.4%), from €333,999 to €398,744
of which Furniture and vehicles: +€49,833
- Cash +€42,054
up €42,054 (+141%), from €29,884 to €71,938
mainly Net result for the year (+€71,232) and Depreciation (+€41,360)
- Receivables within one year -€28,150
down €28,150 (-33.6%), from €83,892 to €55,741
of which Trade receivables: -€22,313
- Reserves +€51,232
up €51,232 (+20.0%), from €256,646 to €307,878
- Other debts -€15,412
down €15,412 (-38.2%), from €40,352 to €24,940
- Current portion of long-term debt +€14,383
up €14,383 (+45.4%), from €31,714 to €46,097
- Debts after one year +€13,459
up €13,459 (+10.2%), from €131,768 to €145,227
- Tax, wage and social debts +€7,594
up €7,594 (+112%), from €6,799 to €14,392
of which Remuneration and social security: +€5,431
- Gross operating margin +€73,702
up €73,702 (+39.7%), from €185,474 to €259,176
- Staff costs +€51,785
up €51,785 (+102%), from €50,882 to €102,667
- Taxes +€8,234
up €8,234 (+32.3%), from €25,472 to €33,706
- Depreciation +€7,534
up €7,534 (+22.3%), from €33,826 to €41,360
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 | €541,287 | €617,258 | +€75,971 | +14.0% |
| Fixed assets | 21/28 | €333,999 | €398,744 | +€64,745 | +19.4% |
| Tangible fixed assets | 22/27 | €333,999 | €398,744 | +€64,745 | +19.4% |
| Land and buildings | 22 | €1,527 | €9,365 | +€7,838 | +513% |
| Plant, machinery and equipment | 23 | €9,344 | €5,963 | -€3,381 | -36.2% |
| Furniture and vehicles | 24 | €18,082 | €67,915 | +€49,833 | +276% |
| Other tangible fixed assets | 26 | €305,046 | €315,500 | +€10,454 | +3.4% |
| Current assets | 29/58 | €207,288 | €218,514 | +€11,226 | +5.4% |
| Stocks and contracts in progress | 3 | €81,344 | €78,346 | -€2,998 | -3.7% |
| Stocks | 30/36 | €81,344 | €78,346 | -€2,998 | -3.7% |
| Amounts receivable within one year | 40/41 | €83,892 | €55,741 | -€28,150 | -33.6% |
| Trade receivables | 40 | €70,977 | €48,664 | -€22,313 | -31.4% |
| Other amounts receivable | 41 | €12,914 | €7,077 | -€5,838 | -45.2% |
| Cash at bank and in hand | 54/58 | €29,884 | €71,938 | +€42,054 | +141% |
| Deferred charges and accrued income | 490/1 | €12,168 | €12,489 | +€321 | +2.6% |
| Total equity and liabilities | 10/49 | €541,287 | €617,258 | +€75,971 | +14.0% |
| Equity | 10/15 | €293,747 | €344,979 | +€51,232 | +17.4% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €256,646 | €307,878 | +€51,232 | +20.0% |
| Distributable reserves | 133 | €256,646 | €307,878 | +€51,232 | +20.0% |
| Profit (loss) carried forward | 14 | €24,601 | €24,601 | = | 0.0% |
| Amounts payable | 17/49 | €247,540 | €272,279 | +€24,739 | +10.0% |
| Amounts payable after more than one year | 17 | €131,768 | €145,227 | +€13,459 | +10.2% |
| Financial debts | 170/4 | €131,768 | €145,227 | +€13,459 | +10.2% |
| Amounts payable within one year | 42/48 | €111,600 | €123,230 | +€11,629 | +10.4% |
| Current portion of amounts payable after more than one year | 42 | €31,714 | €46,097 | +€14,383 | +45.4% |
| Financial debts | 43 | €331 | €76 | -€255 | -77.1% |
| Credit institutions | 430/8 | €331 | €76 | -€255 | -77.1% |
| Trade debts | 44 | €26,600 | €31,258 | +€4,658 | +17.5% |
| Suppliers | 440/4 | €26,600 | €31,258 | +€4,658 | +17.5% |
| Advances received on contracts in progress | 46 | €5,805 | €6,467 | +€662 | +11.4% |
| Taxes, remuneration and social security | 45 | €6,799 | €14,392 | +€7,594 | +112% |
| Taxes | 450/3 | €5,434 | €7,597 | +€2,162 | +39.8% |
| Remuneration and social security | 454/9 | €1,364 | €6,796 | +€5,431 | +398% |
| Other amounts payable | 47/48 | €40,352 | €24,940 | -€15,412 | -38.2% |
| Accrued charges and deferred income | 492/3 | €4,172 | €3,822 | -€349 | -8.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €50,882 | €102,667 | +€51,785 | +102% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,826 | €41,360 | +€7,534 | +22.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €928 | €993 | +€65 | +7.0% |
| Other operating charges | 640/8 | €3,167 | €3,732 | +€565 | +17.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €185,474 | €259,176 | +€73,702 | +39.7% |
| Operating profit (loss) | 9901 | €96,672 | €110,425 | +€13,753 | +14.2% |
| Financial income | 75/76B | €649 | €3,199 | +€2,550 | +393% |
| Recurring financial income | 75 | €649 | €816 | +€167 | +25.8% |
| Non-recurring financial income | 76B | - | €2,382 | +€2,382 | |
| Financial charges | 65/66B | €9,287 | €8,686 | -€601 | -6.5% |
| Recurring financial charges | 65 | €9,287 | €8,686 | -€601 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | €88,034 | €104,938 | +€16,904 | +19.2% |
| Income taxes | 67/77 | €25,472 | €33,706 | +€8,234 | +32.3% |
| Profit (loss) for the period | 9904 | €62,562 | €71,232 | +€8,670 | +13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €62,562 | €71,232 | +€8,670 | +13.9% |
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 13 October 2026 via checked.be.