ORTHOGERA: 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.
ORTHOGERA
Largest movements
- Current investments +€155,768
up €155,768 (+58.6%), from €265,972 to €421,740
- Receivables within one year -€69,575
down €69,575 (-84.9%), from €81,940 to €12,365
of which Other amounts receivable: -€73,825
- Cash -€50,099
down €50,099 (-37.8%), from €132,430 to €82,331
mainly Current investments (-€155,768) and Contributions, distributions and other (-€38,000)
- Tangible fixed assets -€7,468
down €7,468 (-32.6%), from €22,899 to €15,430
of which Furniture and vehicles: -€4,454
- Reserves +€66,413
up €66,413 (+13.4%), from €497,062 to €563,475
of which Distributable reserves: +€66,413
- Tax, wage and social debts -€33,830
down €33,830 (-76.4%), from €44,271 to €10,441
- Trade debts -€12,195
down €12,195 (-70.0%), from €17,424 to €5,229
- Other debts +€6,307
up €6,307 (+68.8%), from €9,161 to €15,468
- Gross operating margin +€85,121
up €85,121 (+104.7%), from €81,295 to €166,416
- Taxes +€24,311
up €24,311 (+119.0%), from €20,425 to €44,736
- Other operating charges -€3,569
down €3,569 (-61.8%), from €5,777 to €2,208
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 | €584,279 | €610,974 | +€26,695 | +4.6% |
| Fixed assets | 21/28 | €22,899 | €15,430 | -€7,468 | -32.6% |
| Tangible fixed assets | 22/27 | €22,899 | €15,430 | -€7,468 | -32.6% |
| Plant, machinery and equipment | 23 | €1,751 | €393 | -€1,358 | -77.6% |
| Furniture and vehicles | 24 | €14,274 | €9,820 | -€4,454 | -31.2% |
| Other tangible fixed assets | 26 | €6,874 | €5,218 | -€1,656 | -24.1% |
| Current assets | 29/58 | €561,381 | €595,544 | +€34,163 | +6.1% |
| Amounts receivable after more than one year | 29 | €77,000 | €77,000 | = | 0.0% |
| Other amounts receivable | 291 | €77,000 | €77,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €81,940 | €12,365 | -€69,575 | -84.9% |
| Trade receivables | 40 | €1,750 | €6,000 | +€4,250 | +242.9% |
| Other amounts receivable | 41 | €80,190 | €6,365 | -€73,825 | -92.1% |
| Current investments | 50/53 | €265,972 | €421,740 | +€155,768 | +58.6% |
| Cash at bank and in hand | 54/58 | €132,430 | €82,331 | -€50,099 | -37.8% |
| Deferred charges and accrued income | 490/1 | €4,038 | €2,107 | -€1,931 | -47.8% |
| Total equity and liabilities | 10/49 | €584,279 | €610,974 | +€26,695 | +4.6% |
| Equity | 10/15 | €513,423 | €579,836 | +€66,413 | +12.9% |
| Contributions | 10/11 | €12,405 | €12,405 | = | 0.0% |
| Reserves | 13 | €497,062 | €563,475 | +€66,413 | +13.4% |
| Non-distributable reserves | 130/1 | €2,480 | €2,480 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,480 | €2,480 | = | 0.0% |
| Distributable reserves | 133 | €494,582 | €560,995 | +€66,413 | +13.4% |
| Profit (loss) carried forward | 14 | €3,956 | €3,956 | = | 0.0% |
| Amounts payable | 17/49 | €70,856 | €31,138 | -€39,718 | -56.1% |
| Amounts payable within one year | 42/48 | €70,856 | €31,138 | -€39,718 | -56.1% |
| Trade debts | 44 | €17,424 | €5,229 | -€12,195 | -70.0% |
| Suppliers | 440/4 | €17,424 | €5,229 | -€12,195 | -70.0% |
| Taxes, remuneration and social security | 45 | €44,271 | €10,441 | -€33,830 | -76.4% |
| Taxes | 450/3 | €44,271 | €10,441 | -€33,830 | -76.4% |
| Other amounts payable | 47/48 | €9,161 | €15,468 | +€6,307 | +68.8% |
| Remuneration, social security and pensions | 62 | - | €84 | +€84 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,302 | €12,476 | +€1,174 | +10.4% |
| Other operating charges | 640/8 | €5,777 | €2,208 | -€3,569 | -61.8% |
| Gross operating margin | 9900 | €81,295 | €166,416 | +€85,121 | +104.7% |
| Operating profit (loss) | 9901 | €64,216 | €151,648 | +€87,432 | +136.2% |
| Financial income | 75/76B | €1,037 | €663 | -€374 | -36.1% |
| Recurring financial income | 75 | €1,037 | €663 | -€374 | -36.1% |
| Financial charges | 65/66B | €4,746 | €3,161 | -€1,584 | -33.4% |
| Recurring financial charges | 65 | €4,746 | €3,161 | -€1,584 | -33.4% |
| Profit (loss) for the period before taxes | 9903 | €60,507 | €149,149 | +€88,642 | +146.5% |
| Income taxes | 67/77 | €20,425 | €44,736 | +€24,311 | +119.0% |
| Profit (loss) for the period | 9904 | €40,082 | €104,413 | +€64,331 | +160.5% |
| Profit (loss) for the period to be appropriated | 9905 | €40,082 | €104,413 | +€64,331 | +160.5% |
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 12 October 2026 via checked.be.