ORTHODAVID: 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.
ORTHODAVID
Largest movements
- Cash -€84,450
down €84,450 (-20.8%), from €406,870 to €322,419
mainly Contributions, distributions and other (-€182,417) and Debts after one year (-€29,235)
- Tangible fixed assets -€19,324
down €19,324 (-19.0%), from €101,759 to €82,435
of which Land and buildings: -€18,484
- Deferred charges and accrued income +€15,836
up €15,836 (+147.3%), from €10,752 to €26,588
- Reserves -€60,313
down €60,313 (-16.9%), from €356,593 to €296,280
of which Distributable reserves: -€60,313
- Debts after one year -€29,235
down €29,235 (-68.9%), from €42,450 to €13,216
- Gross operating margin +€19,774
up €19,774 (+8.5%), from €231,490 to €251,264
- Taxes +€4,254
up €4,254 (+9.3%), from €45,907 to €50,161
- Depreciation +€3,780
up €3,780 (+11.4%), from €33,211 to €36,991
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 | €522,206 | €435,145 | -€87,060 | -16.7% |
| Fixed assets | 21/28 | €102,956 | €83,175 | -€19,781 | -19.2% |
| Intangible fixed assets | 21 | €1,147 | €689 | -€457 | -39.9% |
| Tangible fixed assets | 22/27 | €101,759 | €82,435 | -€19,324 | -19.0% |
| Land and buildings | 22 | €36,779 | €18,295 | -€18,484 | -50.3% |
| Plant, machinery and equipment | 23 | €32,955 | €29,184 | -€3,772 | -11.4% |
| Furniture and vehicles | 24 | €15,781 | €18,675 | +€2,894 | +18.3% |
| Leasing and similar rights | 25 | €16,244 | €10,431 | -€5,813 | -35.8% |
| Other tangible fixed assets | 26 | - | €5,850 | +€5,850 | |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €419,250 | €351,971 | -€67,279 | -16.0% |
| Amounts receivable within one year | 40/41 | €1,629 | €2,964 | +€1,335 | +82.0% |
| Trade receivables | 40 | €258 | €1,616 | +€1,358 | +526.7% |
| Other amounts receivable | 41 | €1,371 | €1,348 | -€23 | -1.7% |
| Cash at bank and in hand | 54/58 | €406,870 | €322,419 | -€84,450 | -20.8% |
| Deferred charges and accrued income | 490/1 | €10,752 | €26,588 | +€15,836 | +147.3% |
| Total equity and liabilities | 10/49 | €522,206 | €435,145 | -€87,060 | -16.7% |
| Equity | 10/15 | €368,993 | €308,680 | -€60,313 | -16.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €356,593 | €296,280 | -€60,313 | -16.9% |
| 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 | €74 | €74 | = | 0.0% |
| Distributable reserves | 133 | €354,659 | €294,346 | -€60,313 | -17.0% |
| Amounts payable | 17/49 | €153,213 | €126,465 | -€26,748 | -17.5% |
| Amounts payable after more than one year | 17 | €42,450 | €13,216 | -€29,235 | -68.9% |
| Financial debts | 170/4 | €42,450 | €13,216 | -€29,235 | -68.9% |
| Amounts payable within one year | 42/48 | €110,762 | €113,249 | +€2,487 | +2.2% |
| Current portion of amounts payable after more than one year | 42 | €27,809 | €29,234 | +€1,425 | +5.1% |
| Trade debts | 44 | €12,805 | €8,818 | -€3,988 | -31.1% |
| Suppliers | 440/4 | €12,805 | €8,818 | -€3,988 | -31.1% |
| Taxes, remuneration and social security | 45 | €16,935 | €18,301 | +€1,366 | +8.1% |
| Taxes | 450/3 | €12,722 | €13,866 | +€1,144 | +9.0% |
| Remuneration and social security | 454/9 | €4,214 | €4,435 | +€222 | +5.3% |
| Other amounts payable | 47/48 | €53,212 | €56,896 | +€3,684 | +6.9% |
| Non-recurring operating income | 76A | €24 | €13,933 | +€13,908 | +56907.5% |
| Remuneration, social security and pensions | 62 | €35,870 | €37,356 | +€1,485 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,211 | €36,991 | +€3,780 | +11.4% |
| Other operating charges | 640/8 | €3,435 | €3,786 | +€351 | +10.2% |
| Non-recurring operating charges | 66A | - | €2 | +€2 | |
| Gross operating margin | 9900 | €231,490 | €251,264 | +€19,774 | +8.5% |
| Operating profit (loss) | 9901 | €158,973 | €173,129 | +€14,156 | +8.9% |
| Financial income | 75/76B | €1,180 | €2,828 | +€1,648 | +139.7% |
| Recurring financial income | 75 | €1,180 | €2,828 | +€1,648 | +139.7% |
| Financial charges | 65/66B | €5,099 | €3,691 | -€1,408 | -27.6% |
| Recurring financial charges | 65 | €5,099 | €3,691 | -€1,408 | -27.6% |
| Profit (loss) for the period before taxes | 9903 | €155,054 | €172,266 | +€17,212 | +11.1% |
| Income taxes | 67/77 | €45,907 | €50,161 | +€4,254 | +9.3% |
| Profit (loss) for the period | 9904 | €109,147 | €122,105 | +€12,958 | +11.9% |
| Profit (loss) for the period to be appropriated | 9905 | €109,147 | €122,105 | +€12,958 | +11.9% |
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 1 October 2026 via checked.be.