ORTHO VDS: 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.
What changed
ORTHO VDS
NACE 86.220, Specialist medical practice
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€88,981
2024 · €130,880-€41,899
Equity
€349,972
2024 · €280,975+€68,997
Cash
€80,391
2024 · €81,821-€1,431
Balance sheet total
€1.7m
2024 · €1.8m-€40,791
Largest movements
Assets
- Tangible fixed assets -€94,573
down €94,573 (-5.6%), from €1.7m to €1.6m
of which Land and buildings: -€77,881
- Receivables after one year +€51,810
up €51,810, from €0 to €51,810
Equity and liabilities
- Debts after one year -€86,529
down €86,529 (-6.4%), from €1.4m to €1.3m
of which Financial debts: -€85,221
- Reserves +€68,997
up €68,997 (+26.3%), from €262,375 to €331,372
Income statement
- Gross operating margin -€37,829
down €37,829 (-10.8%), from €349,193 to €311,364
- Taxes -€11,458
down €11,458 (-29.0%), from €39,506 to €28,048
- Depreciation +€5,052
up €5,052 (+4.5%), from €112,172 to €117,224
- Financial income -€4,217
down €4,217 (-73.3%), from €5,753 to €1,536
of which Financial income: -€4,217
- Other operating charges +€4,014
up €4,014 (+206%), from €1,948 to €5,962
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.
Result 2024
€130,880
Gross operating margin
-€37,829
Staff costs
-€3,971
Depreciation
-€5,052
Other operating charges
-€4,014
Financial income
-€4,217
Financial charges
+€1,727
Taxes
+€11,458
Result 2025
€88,981
raises the resultlowers the result
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.
From operations
+€144,441
Investment
-€22,651
Financing
-€123,220
Cash 2024
€81,821
From operations (derived)
+€144,441
Net result for the year
+€88,981
Depreciation
+€117,224
Receivables after one year
-€51,810
Receivables within one year
-€1,375
Deferred charges and accrued income
-€2,028
Trade debts
-€8,002
Tax, wage and social debts
+€1,318
Accrued charges and deferred income
+€132
Investment (derived)
-€22,651
Investment in fixed assets (net)
-€22,651
Financing
-€123,220
Debts after one year
-€86,529
Current portion of long-term debt
-€14,634
Short-term financial debts
-€2,074
Contributions, distributions and other
-€19,984
Cash 2025
€80,391
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,780,053 | €1,739,262 | -€40,791 | -2.3% |
| Fixed assets | 21/28 | €1,682,327 | €1,587,754 | -€94,573 | -5.6% |
| Tangible fixed assets | 22/27 | €1,680,327 | €1,585,754 | -€94,573 | -5.6% |
| Land and buildings | 22 | €1,628,072 | €1,550,191 | -€77,881 | -4.8% |
| Plant, machinery and equipment | 23 | €20,130 | €17,128 | -€3,003 | -14.9% |
| Furniture and vehicles | 24 | €32,125 | €18,435 | -€13,690 | -42.6% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €97,726 | €151,508 | +€53,782 | +55.0% |
| Amounts receivable after more than one year | 29 | €0 | €51,810 | +€51,810 | |
| Other amounts receivable | 291 | €0 | €51,810 | +€51,810 | |
| Amounts receivable within one year | 40/41 | €7,871 | €9,246 | +€1,375 | +17.5% |
| Trade receivables | 40 | €5,137 | €0 | -€5,137 | -100% |
| Other amounts receivable | 41 | €2,734 | €9,246 | +€6,512 | +238% |
| Cash at bank and in hand | 54/58 | €81,821 | €80,391 | -€1,431 | -1.7% |
| Deferred charges and accrued income | 490/1 | €8,033 | €10,062 | +€2,028 | +25.3% |
| Total equity and liabilities | 10/49 | €1,780,053 | €1,739,262 | -€40,791 | -2.3% |
| Equity | 10/15 | €280,975 | €349,972 | +€68,997 | +24.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €262,375 | €331,372 | +€68,997 | +26.3% |
| Distributable reserves | 133 | €262,375 | €331,372 | +€68,997 | +26.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,499,078 | €1,389,290 | -€109,788 | -7.3% |
| Amounts payable after more than one year | 17 | €1,358,411 | €1,271,882 | -€86,529 | -6.4% |
| Financial debts | 170/4 | €1,357,103 | €1,271,882 | -€85,221 | -6.3% |
| Other amounts payable | 178/9 | €1,308 | €0 | -€1,308 | -100% |
| Amounts payable within one year | 42/48 | €130,722 | €107,330 | -€23,392 | -17.9% |
| Current portion of amounts payable after more than one year | 42 | €99,854 | €85,221 | -€14,634 | -14.7% |
| Financial debts | 43 | €6,556 | €4,483 | -€2,074 | -31.6% |
| Credit institutions | 430/8 | €6,556 | €4,483 | -€2,074 | -31.6% |
| Trade debts | 44 | €16,385 | €8,383 | -€8,002 | -48.8% |
| Suppliers | 440/4 | €16,385 | €8,383 | -€8,002 | -48.8% |
| Taxes, remuneration and social security | 45 | €7,926 | €9,244 | +€1,318 | +16.6% |
| Taxes | 450/3 | €0 | €1,897 | +€1,897 | |
| Remuneration and social security | 454/9 | €7,926 | €7,347 | -€579 | -7.3% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €9,946 | €10,078 | +€132 | +1.3% |
| Remuneration, social security and pensions | 62 | €39,833 | €43,804 | +€3,971 | +10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,172 | €117,224 | +€5,052 | +4.5% |
| Other operating charges | 640/8 | €1,948 | €5,962 | +€4,014 | +206% |
| Gross operating margin | 9900 | €349,193 | €311,364 | -€37,829 | -10.8% |
| Operating profit (loss) | 9901 | €195,240 | €144,373 | -€50,867 | -26.1% |
| Financial income | 75/76B | €5,753 | €1,536 | -€4,217 | -73.3% |
| Recurring financial income | 75 | €5,753 | €1,536 | -€4,217 | -73.3% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €30,607 | €28,880 | -€1,727 | -5.6% |
| Recurring financial charges | 65 | €30,607 | €28,880 | -€1,727 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €170,386 | €117,029 | -€53,356 | -31.3% |
| Income taxes | 67/77 | €39,506 | €28,048 | -€11,458 | -29.0% |
| Profit (loss) for the period | 9904 | €130,880 | €88,981 | -€41,899 | -32.0% |
| Profit (loss) for the period to be appropriated | 9905 | €130,880 | €88,981 | -€41,899 | -32.0% |
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.