ORTHODF: 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.
ORTHODF
Largest movements
- Tangible fixed assets +€238,097
up €238,097 (+52.9%), from €449,718 to €687,816
of which Furniture and vehicles: +€195,225
- Cash +€186,149
up €186,149 (+222.9%), from €83,526 to €269,675
mainly Debts after one year (+€229,932) and Current investments (+€100,000)
- Current investments -€100,000
down €100,000 (-100.0%), from €100,000 to €0
- Receivables within one year -€37,624
down €37,624 (-78.0%), from €48,232 to €10,608
of which Trade receivables: -€37,624
- Debts after one year +€229,932
up €229,932 (+100.1%), from €229,676 to €459,608
- Reserves +€62,087
up €62,087 (+16.6%), from €373,763 to €435,850
of which Distributable reserves: +€62,087
- Current portion of long-term debt +€28,964
up €28,964 (+111.9%), from €25,890 to €54,854
- Trade debts -€18,151
down €18,151 (-94.9%), from €19,130 to €979
- Tax, wage and social debts -€11,919
down €11,919 (-93.4%), from €12,762 to €843
- Depreciation +€51,761
up €51,761 (+181.8%), from €28,466 to €80,227
- Gross operating margin +€38,376
up €38,376 (+26.5%), from €144,834 to €183,210
- Taxes -€10,996
down €10,996 (-33.4%), from €32,955 to €21,959
- Financial charges +€6,412
up €6,412 (+88.4%), from €7,254 to €13,666
- Staff costs +€4,693
new in 2025: €4,693
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 | €688,113 | €975,063 | +€286,950 | +41.7% |
| Fixed assets | 21/28 | €449,867 | €688,269 | +€238,402 | +53.0% |
| Tangible fixed assets | 22/27 | €449,718 | €687,816 | +€238,097 | +52.9% |
| Land and buildings | 22 | €224,447 | €213,086 | -€11,361 | -5.1% |
| Plant, machinery and equipment | 23 | €192,723 | €246,956 | +€54,233 | +28.1% |
| Furniture and vehicles | 24 | €32,548 | €227,773 | +€195,225 | +599.8% |
| Financial fixed assets | 28 | €149 | €453 | +€304 | +204.6% |
| Current assets | 29/58 | €238,246 | €286,794 | +€48,549 | +20.4% |
| Amounts receivable within one year | 40/41 | €48,232 | €10,608 | -€37,624 | -78.0% |
| Trade receivables | 40 | €48,232 | €10,608 | -€37,624 | -78.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €83,526 | €269,675 | +€186,149 | +222.9% |
| Deferred charges and accrued income | 490/1 | €6,488 | €6,511 | +€24 | +0.4% |
| Total equity and liabilities | 10/49 | €688,113 | €975,063 | +€286,950 | +41.7% |
| Equity | 10/15 | €392,396 | €454,483 | +€62,087 | +15.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €373,763 | €435,850 | +€62,087 | +16.6% |
| Tax-exempt reserves | 132 | €1,130 | €1,130 | = | 0.0% |
| Distributable reserves | 133 | €372,633 | €434,720 | +€62,087 | +16.7% |
| Profit (loss) carried forward | 14 | €41 | €41 | = | 0.0% |
| Amounts payable | 17/49 | €295,717 | €520,580 | +€224,863 | +76.0% |
| Amounts payable after more than one year | 17 | €229,676 | €459,608 | +€229,932 | +100.1% |
| Financial debts | 170/4 | €229,676 | €459,608 | +€229,932 | +100.1% |
| Amounts payable within one year | 42/48 | €61,706 | €60,351 | -€1,355 | -2.2% |
| Current portion of amounts payable after more than one year | 42 | €25,890 | €54,854 | +€28,964 | +111.9% |
| Trade debts | 44 | €19,130 | €979 | -€18,151 | -94.9% |
| Suppliers | 440/4 | €19,130 | €979 | -€18,151 | -94.9% |
| Taxes, remuneration and social security | 45 | €12,762 | €843 | -€11,919 | -93.4% |
| Taxes | 450/3 | €12,762 | €843 | -€11,919 | -93.4% |
| Other amounts payable | 47/48 | €3,924 | €3,674 | -€249 | -6.4% |
| Accrued charges and deferred income | 492/3 | €4,335 | €621 | -€3,714 | -85.7% |
| Remuneration, social security and pensions | 62 | - | €4,693 | +€4,693 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,466 | €80,227 | +€51,761 | +181.8% |
| Other operating charges | 640/8 | €7,348 | €3,465 | -€3,883 | -52.8% |
| Gross operating margin | 9900 | €144,834 | €183,210 | +€38,376 | +26.5% |
| Operating profit (loss) | 9901 | €109,020 | €94,825 | -€14,195 | -13.0% |
| Financial income | 75/76B | €5,567 | €3,719 | -€1,848 | -33.2% |
| Recurring financial income | 75 | €5,567 | €3,719 | -€1,848 | -33.2% |
| Financial charges | 65/66B | €7,254 | €13,666 | +€6,412 | +88.4% |
| Recurring financial charges | 65 | €7,254 | €13,666 | +€6,412 | +88.4% |
| Profit (loss) for the period before taxes | 9903 | €107,333 | €84,878 | -€22,455 | -20.9% |
| Income taxes | 67/77 | €32,955 | €21,959 | -€10,996 | -33.4% |
| Profit (loss) for the period | 9904 | €74,379 | €62,920 | -€11,459 | -15.4% |
| Profit (loss) for the period to be appropriated | 9905 | €74,379 | €62,920 | -€11,459 | -15.4% |
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 4 October 2026 via checked.be.