ORTHODANT: what changed
Two fiscal 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.
ORTHODANT
Largest movements
- Tangible fixed assets +€140,460
up €140,460 (+12.5%), from €1.1m to €1.3m
of which Land and buildings: +€153,132
- Current investments +€120,000
up €120,000 (+400.0%), from €30,000 to €150,000
- Cash -€68,899
down €68,899 (-6.9%), from €995,535 to €926,636
mainly Investment in fixed assets (net) (-€279,129) and Contributions, distributions and other (-€244,929)
- Reserves +€193,120
up €193,120 (+11.4%), from €1.7m to €1.9m
- Tax, wage and social debts +€77,827
up €77,827 (+107.2%), from €72,599 to €150,426
of which Taxes: +€77,545
- Debts after one year -€74,628
down €74,628 (-18.0%), from €415,520 to €340,893
- Gross operating margin +€78,273
up €78,273 (+9.6%), from €816,833 to €895,106
- Taxes +€31,956
up €31,956 (+18.7%), from €170,830 to €202,786
- Depreciation -€29,069
down €29,069 (-17.3%), from €167,738 to €138,670
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.
Cash bridge derived
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 | €2,285,714 | €2,491,875 | +€206,161 | +9.0% |
| Fixed assets | 21/28 | €1,125,939 | €1,266,398 | +€140,460 | +12.5% |
| Tangible fixed assets | 22/27 | €1,125,759 | €1,266,218 | +€140,460 | +12.5% |
| Land and buildings | 22 | €1,092,504 | €1,245,636 | +€153,132 | +14.0% |
| Plant, machinery and equipment | 23 | €16,577 | €20,582 | +€4,006 | +24.2% |
| Furniture and vehicles | 24 | €16,678 | - | -€16,678 | |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €1,159,776 | €1,225,477 | +€65,701 | +5.7% |
| Amounts receivable after more than one year | 29 | €101,874 | €101,874 | = | 0.0% |
| Other amounts receivable | 291 | €101,874 | €101,874 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €32,366 | €46,967 | +€14,600 | +45.1% |
| Trade receivables | 40 | - | €8,902 | +€8,902 | |
| Other amounts receivable | 41 | €32,366 | €38,065 | +€5,699 | +17.6% |
| Current investments | 50/53 | €30,000 | €150,000 | +€120,000 | +400.0% |
| Cash at bank and in hand | 54/58 | €995,535 | €926,636 | -€68,899 | -6.9% |
| Total equity and liabilities | 10/49 | €2,285,714 | €2,491,875 | +€206,161 | +9.0% |
| Equity | 10/15 | €1,702,007 | €1,895,128 | +€193,120 | +11.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €1,701,007 | €1,894,128 | +€193,120 | +11.4% |
| Distributable reserves | 133 | €1,701,007 | €1,894,128 | +€193,120 | +11.4% |
| Amounts payable | 17/49 | €583,707 | €596,748 | +€13,041 | +2.2% |
| Amounts payable after more than one year | 17 | €415,520 | €340,893 | -€74,628 | -18.0% |
| Financial debts | 170/4 | €415,520 | €340,893 | -€74,628 | -18.0% |
| Amounts payable within one year | 42/48 | €168,186 | €255,855 | +€87,668 | +52.1% |
| Current portion of amounts payable after more than one year | 42 | €72,499 | €74,628 | +€2,129 | +2.9% |
| Trade debts | 44 | €23,089 | €27,537 | +€4,448 | +19.3% |
| Suppliers | 440/4 | €23,089 | €27,537 | +€4,448 | +19.3% |
| Taxes, remuneration and social security | 45 | €72,599 | €150,426 | +€77,827 | +107.2% |
| Taxes | 450/3 | €60,830 | €138,375 | +€77,545 | +127.5% |
| Remuneration and social security | 454/9 | €11,769 | €12,051 | +€282 | +2.4% |
| Other amounts payable | 47/48 | - | €3,264 | +€3,264 | |
| Remuneration, social security and pensions | 62 | €99,996 | €99,028 | -€968 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €167,738 | €138,670 | -€29,069 | -17.3% |
| Other operating charges | 640/8 | €12,249 | €9,657 | -€2,592 | -21.2% |
| Gross operating margin | 9900 | €816,833 | €895,106 | +€78,273 | +9.6% |
| Operating profit (loss) | 9901 | €536,850 | €647,751 | +€110,901 | +20.7% |
| Financial income | 75/76B | €5,097 | €5,672 | +€575 | +11.3% |
| Recurring financial income | 75 | €5,097 | €5,672 | +€575 | +11.3% |
| Financial charges | 65/66B | €14,513 | €12,588 | -€1,925 | -13.3% |
| Recurring financial charges | 65 | €14,513 | €12,588 | -€1,925 | -13.3% |
| Profit (loss) for the period before taxes | 9903 | €527,434 | €640,834 | +€113,400 | +21.5% |
| Income taxes | 67/77 | €170,830 | €202,786 | +€31,956 | +18.7% |
| Profit (loss) for the period | 9904 | €356,604 | €438,049 | +€81,445 | +22.8% |
| Profit (loss) for the period to be appropriated | 9905 | €356,604 | €438,049 | +€81,445 | +22.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.