Ortho - VDV: 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 - VDV
NACE 86.230, Dental practice
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€34,427
2024 · €38,645-€73,072
Equity
€18,478
2024 · €52,905-€34,427
Cash
€20,937
2024 · €22,113-€1,177
Balance sheet total
€464,078
2024 · €493,638-€29,561
Largest movements
Assets
- Tangible fixed assets -€29,031
down €29,031 (-6.4%), from €453,538 to €424,508
of which Land and buildings: -€35,879
Equity and liabilities
- Debts after one year -€43,266
down €43,266 (-14.4%), from €301,232 to €257,966
- Other debts +€37,863
up €37,863 (+120%), from €31,428 to €69,292
- Reserves -€21,302
down €21,302 (-52.6%), from €40,505 to €19,203
of which Tax-exempt reserves: -€21,302
- Profit (loss) carried forward -€13,125
new in 2025: -€13,125
- Current portion of long-term debt +€12,842
up €12,842 (+17.3%), from €74,090 to €86,932
Income statement
- Gross operating margin -€42,725
down €42,725 (-19.1%), from €223,409 to €180,684
- Staff costs +€31,198
up €31,198 (+38.3%), from €81,534 to €112,733
- Depreciation +€13,349
up €13,349 (+18.5%), from €71,993 to €85,342
- Taxes -€4,158
down €4,158 (-96.6%), from €4,307 to €148
- Other operating charges -€2,397
down €2,397 (-21.3%), from €11,254 to €8,857
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
€38,645
Gross operating margin
-€42,725
Staff costs
-€31,198
Depreciation
-€13,349
Other operating charges
+€2,397
Other operating items
-€910
Financial income
-€118
Financial charges
-€1,979
Taxes
+€4,158
Deferred taxes and other
+€10,651
Result 2025
-€34,427
raises the resultlowers the resultnot broken down further in the accounts
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
+€85,559
Investment
-€56,311
Financing
-€30,424
Cash 2024
€22,113
From operations (derived)
+€85,559
Net result for the year
-€34,427
Depreciation
+€85,342
Smaller working-capital items
+€183
Deferred charges and accrued income
-€816
Provisions
-€5,325
Trade debts
+€1,286
Tax, wage and social debts
+€1,453
Other debts
+€37,863
Investment (derived)
-€56,311
Investment in fixed assets (net)
-€56,311
Financing
-€30,424
Debts after one year
-€43,266
Current portion of long-term debt
+€12,842
Cash 2025
€20,937
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €493,638 | €464,078 | -€29,561 | -6.0% |
| Fixed assets | 21/28 | €453,538 | €424,508 | -€29,031 | -6.4% |
| Tangible fixed assets | 22/27 | €453,538 | €424,508 | -€29,031 | -6.4% |
| Land and buildings | 22 | €200,895 | €165,016 | -€35,879 | -17.9% |
| Plant, machinery and equipment | 23 | €61,983 | €98,106 | +€36,123 | +58.3% |
| Furniture and vehicles | 24 | €90,567 | €71,334 | -€19,232 | -21.2% |
| Leasing and similar rights | 25 | €100,094 | €90,051 | -€10,042 | -10.0% |
| Current assets | 29/58 | €40,100 | €39,570 | -€530 | -1.3% |
| Amounts receivable within one year | 40/41 | €238 | €69 | -€169 | -71.0% |
| Other amounts receivable | 41 | €238 | €69 | -€169 | -71.0% |
| Cash at bank and in hand | 54/58 | €22,113 | €20,937 | -€1,177 | -5.3% |
| Deferred charges and accrued income | 490/1 | €17,749 | €18,564 | +€816 | +4.6% |
| Total equity and liabilities | 10/49 | €493,638 | €464,078 | -€29,561 | -6.0% |
| Equity | 10/15 | €52,905 | €18,478 | -€34,427 | -65.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €40,505 | €19,203 | -€21,302 | -52.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €21,302 | - | -€21,302 | |
| Distributable reserves | 133 | €17,343 | €17,343 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€13,125 | -€13,125 | |
| Provisions and deferred taxes | 16 | €5,325 | - | -€5,325 | |
| Deferred taxes | 168 | €5,325 | - | -€5,325 | |
| Amounts payable | 17/49 | €435,408 | €445,600 | +€10,192 | +2.3% |
| Amounts payable after more than one year | 17 | €301,232 | €257,966 | -€43,266 | -14.4% |
| Financial debts | 170/4 | €301,232 | €257,966 | -€43,266 | -14.4% |
| Amounts payable within one year | 42/48 | €130,533 | €183,978 | +€53,444 | +40.9% |
| Current portion of amounts payable after more than one year | 42 | €74,090 | €86,932 | +€12,842 | +17.3% |
| Trade debts | 44 | €15,991 | €17,276 | +€1,286 | +8.0% |
| Suppliers | 440/4 | €15,991 | €17,276 | +€1,286 | +8.0% |
| Taxes, remuneration and social security | 45 | €9,025 | €10,478 | +€1,453 | +16.1% |
| Remuneration and social security | 454/9 | €9,025 | €10,478 | +€1,453 | +16.1% |
| Other amounts payable | 47/48 | €31,428 | €69,292 | +€37,863 | +120% |
| Accrued charges and deferred income | 492/3 | €3,642 | €3,656 | +€14 | +0.4% |
| Non-recurring operating income | 76A | €9,000 | - | -€9,000 | |
| Remuneration, social security and pensions | 62 | €81,534 | €112,733 | +€31,198 | +38.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,993 | €85,342 | +€13,349 | +18.5% |
| Other operating charges | 640/8 | €11,254 | €8,857 | -€2,397 | -21.3% |
| Non-recurring operating charges | 66A | - | €910 | +€910 | |
| Gross operating margin | 9900 | €223,409 | €180,684 | -€42,725 | -19.1% |
| Operating profit (loss) | 9901 | €58,627 | -€27,157 | -€85,785 | |
| Financial income | 75/76B | €187 | €69 | -€118 | -63.1% |
| Recurring financial income | 75 | €187 | €69 | -€118 | -63.1% |
| Financial charges | 65/66B | €10,537 | €12,516 | +€1,979 | +18.8% |
| Recurring financial charges | 65 | €10,537 | €12,516 | +€1,979 | +18.8% |
| Profit (loss) for the period before taxes | 9903 | €48,277 | -€39,604 | -€87,881 | |
| Transfer from deferred taxes | 780 | €592 | €5,325 | +€4,734 | +800% |
| Transfer to deferred taxes | 680 | €5,917 | - | -€5,917 | |
| Income taxes | 67/77 | €4,307 | €148 | -€4,158 | -96.6% |
| Profit (loss) for the period | 9904 | €38,645 | -€34,427 | -€73,072 | |
| Transfer from tax-exempt reserves | 789 | €2,367 | €21,302 | +€18,935 | +800% |
| Transfer to tax-exempt reserves | 689 | €23,669 | - | -€23,669 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,343 | -€13,125 | -€30,468 |
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.