OrthoFe: 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.
OrthoFe
Largest movements
- Tangible fixed assets +€321,083
up €321,083 (+130%), from €246,666 to €567,749
of which Assets under construction and advance payments: +€342,012
- Cash +€87,344
up €87,344 (+382%), from €22,853 to €110,197
mainly Other debts (+€595,015) and Net result for the year (+€342,813)
- Current investments +€84,572
up €84,572 (+18.2%), from €465,856 to €550,428
- Receivables within one year +€24,142
up €24,142 (+98.6%), from €24,489 to €48,631
of which Trade receivables: +€42,882
- Other debts +€595,015
up €595,015 (+29,751%), from €2,000 to €597,015
- Reserves -€357,187
down €357,187 (-65.2%), from €547,845 to €190,658
- Debts after one year +€149,359
up €149,359 (+82.7%), from €180,619 to €329,978
- Tax, wage and social debts +€104,500
up €104,500 (+20,900%), from €500 to €105,000
- Current portion of long-term debt +€34,409
up €34,409 (+239%), from €14,382 to €48,791
- Gross operating margin +€84,008
up €84,008 (+21.0%), from €399,886 to €483,894
- Taxes +€17,920
up €17,920 (+19.3%), from €92,682 to €110,602
- Financial charges +€9,635
up €9,635 (+516%), from €1,866 to €11,501
- Depreciation +€8,873
up €8,873 (+66.5%), from €13,333 to €22,206
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €764,435 | €1,281,437 | +€517,002 | +67.6% |
| Fixed assets | 21/28 | €246,666 | €567,749 | +€321,083 | +130% |
| Tangible fixed assets | 22/27 | €246,666 | €567,749 | +€321,083 | +130% |
| Land and buildings | 22 | €166,537 | €158,193 | -€8,344 | -5.0% |
| Plant, machinery and equipment | 23 | €3,920 | €3,096 | -€824 | -21.0% |
| Furniture and vehicles | 24 | €49,693 | €37,931 | -€11,761 | -23.7% |
| Assets under construction and advance payments | 27 | €26,517 | €368,529 | +€342,012 | +1,290% |
| Current assets | 29/58 | €517,769 | €713,688 | +€195,919 | +37.8% |
| Amounts receivable within one year | 40/41 | €24,489 | €48,631 | +€24,142 | +98.6% |
| Trade receivables | 40 | €3,680 | €46,563 | +€42,882 | +1,165% |
| Other amounts receivable | 41 | €20,809 | €2,069 | -€18,740 | -90.1% |
| Current investments | 50/53 | €465,856 | €550,428 | +€84,572 | +18.2% |
| Cash at bank and in hand | 54/58 | €22,853 | €110,197 | +€87,344 | +382% |
| Deferred charges and accrued income | 490/1 | €4,571 | €4,432 | -€140 | -3.1% |
| Total equity and liabilities | 10/49 | €764,435 | €1,281,437 | +€517,002 | +67.6% |
| Equity | 10/15 | €552,845 | €195,658 | -€357,187 | -64.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €547,845 | €190,658 | -€357,187 | -65.2% |
| Distributable reserves | 133 | €547,845 | €190,658 | -€357,187 | -65.2% |
| Amounts payable | 17/49 | €211,590 | €1,085,779 | +€874,189 | +413% |
| Amounts payable after more than one year | 17 | €180,619 | €329,978 | +€149,359 | +82.7% |
| Financial debts | 170/4 | €180,619 | €329,978 | +€149,359 | +82.7% |
| Amounts payable within one year | 42/48 | €30,971 | €752,105 | +€721,134 | +2,328% |
| Current portion of amounts payable after more than one year | 42 | €14,382 | €48,791 | +€34,409 | +239% |
| Financial debts | 43 | €15 | €184 | +€169 | +1,130% |
| Credit institutions | 430/8 | - | €122 | +€122 | |
| Other loans | 439 | €15 | €62 | +€47 | +316% |
| Trade debts | 44 | €14,074 | €1,115 | -€12,959 | -92.1% |
| Suppliers | 440/4 | €14,074 | €1,115 | -€12,959 | -92.1% |
| Taxes, remuneration and social security | 45 | €500 | €105,000 | +€104,500 | +20,900% |
| Taxes | 450/3 | €500 | €105,000 | +€104,500 | +20,900% |
| Other amounts payable | 47/48 | €2,000 | €597,015 | +€595,015 | +29,751% |
| Accrued charges and deferred income | 492/3 | - | €3,696 | +€3,696 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,333 | €22,206 | +€8,873 | +66.5% |
| Other operating charges | 640/8 | €252 | €259 | +€6 | +2.6% |
| Non-recurring operating charges | 66A | €57 | - | -€57 | |
| Gross operating margin | 9900 | €399,886 | €483,894 | +€84,008 | +21.0% |
| Operating profit (loss) | 9901 | €386,244 | €461,429 | +€75,186 | +19.5% |
| Financial income | 75/76B | €1,650 | €3,487 | +€1,837 | +111% |
| Recurring financial income | 75 | €1,650 | €3,487 | +€1,837 | +111% |
| Financial charges | 65/66B | €1,866 | €11,501 | +€9,635 | +516% |
| Recurring financial charges | 65 | €1,866 | €11,501 | +€9,635 | +516% |
| Profit (loss) for the period before taxes | 9903 | €386,027 | €453,415 | +€67,388 | +17.5% |
| Income taxes | 67/77 | €92,682 | €110,602 | +€17,920 | +19.3% |
| Profit (loss) for the period | 9904 | €293,345 | €342,813 | +€49,468 | +16.9% |
| Profit (loss) for the period to be appropriated | 9905 | €293,345 | €342,813 | +€49,468 | +16.9% |
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 17 October 2026 via checked.be.