ORTHODEM: 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.
ORTHODEM
Largest movements
- Cash +€88,396
up €88,396 (+43.2%), from €204,495 to €292,891
mainly Net result for the year (+€133,426) and Other debts (+€74,410)
- Other debts +€74,410
up €74,410 (+29.3%), from €253,989 to €328,399
- Reserves +€32,720
up €32,720 (+4.5%), from €726,968 to €759,688
of which Distributable reserves: +€32,720
- Trade debts -€22,323
down €22,323 (-87.5%), from €25,506 to €3,183
- Gross operating margin -€46,369
down €46,369 (-17.8%), from €260,123 to €213,754
- Taxes -€15,091
down €15,091 (-21.5%), from €70,079 to €54,989
- Financial income +€7,471
up €7,471 (+1631.5%), from €458 to €7,929
- Depreciation +€5,794
up €5,794 (+23.7%), from €24,415 to €30,208
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 | €1,051,871 | €1,138,483 | +€86,611 | +8.2% |
| Fixed assets | 21/28 | €203,625 | €203,113 | -€512 | -0.3% |
| Tangible fixed assets | 22/27 | €203,625 | €203,113 | -€512 | -0.3% |
| Land and buildings | 22 | €156,310 | €140,905 | -€15,406 | -9.9% |
| Plant, machinery and equipment | 23 | €13,860 | €7,005 | -€6,855 | -49.5% |
| Furniture and vehicles | 24 | €24,702 | €48,484 | +€23,782 | +96.3% |
| Other tangible fixed assets | 26 | €8,753 | €6,719 | -€2,034 | -23.2% |
| Current assets | 29/58 | €848,246 | €935,369 | +€87,123 | +10.3% |
| Current investments | 50/53 | €641,694 | €641,694 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €204,495 | €292,891 | +€88,396 | +43.2% |
| Deferred charges and accrued income | 490/1 | €2,058 | €785 | -€1,273 | -61.9% |
| Total equity and liabilities | 10/49 | €1,051,871 | €1,138,483 | +€86,611 | +8.2% |
| Equity | 10/15 | €745,568 | €778,288 | +€32,720 | +4.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €726,968 | €759,688 | +€32,720 | +4.5% |
| Non-distributable reserves | 130/1 | €21,950 | €21,950 | = | 0.0% |
| Legal reserve | 130 | €21,950 | €21,950 | = | 0.0% |
| Tax-exempt reserves | 132 | €39,037 | €39,037 | = | 0.0% |
| Distributable reserves | 133 | €665,981 | €698,701 | +€32,720 | +4.9% |
| Amounts payable | 17/49 | €306,304 | €360,195 | +€53,891 | +17.6% |
| Amounts payable within one year | 42/48 | €306,304 | €360,195 | +€53,891 | +17.6% |
| Trade debts | 44 | €25,506 | €3,183 | -€22,323 | -87.5% |
| Suppliers | 440/4 | €25,506 | €3,183 | -€22,323 | -87.5% |
| Taxes, remuneration and social security | 45 | €26,808 | €28,613 | +€1,804 | +6.7% |
| Taxes | 450/3 | €19,210 | €19,671 | +€461 | +2.4% |
| Remuneration and social security | 454/9 | €7,598 | €8,941 | +€1,343 | +17.7% |
| Other amounts payable | 47/48 | €253,989 | €328,399 | +€74,410 | +29.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,415 | €30,208 | +€5,794 | +23.7% |
| Other operating charges | 640/8 | €3,345 | €3,010 | -€335 | -10.0% |
| Gross operating margin | 9900 | €260,123 | €213,754 | -€46,369 | -17.8% |
| Operating profit (loss) | 9901 | €232,363 | €180,535 | -€51,828 | -22.3% |
| Financial income | 75/76B | €458 | €7,929 | +€7,471 | +1631.5% |
| Recurring financial income | 75 | €458 | €7,929 | +€7,471 | +1631.5% |
| Financial charges | 65/66B | €32 | €50 | +€18 | +57.1% |
| Recurring financial charges | 65 | €32 | €50 | +€18 | +57.1% |
| Profit (loss) for the period before taxes | 9903 | €232,789 | €188,414 | -€44,375 | -19.1% |
| Income taxes | 67/77 | €70,079 | €54,989 | -€15,091 | -21.5% |
| Profit (loss) for the period | 9904 | €162,710 | €133,426 | -€29,284 | -18.0% |
| Profit (loss) for the period to be appropriated | 9905 | €162,710 | €133,426 | -€29,284 | -18.0% |
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 10 October 2026 via checked.be.