Orthogo: 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.
Orthogo
Largest movements
- Cash -€35,996
down €35,996 (-52.3%), from €68,830 to €32,834
mainly Contributions, distributions and other (-€243,954) and Debts after one year (-€37,515)
- Deferred charges and accrued income +€20,423
up €20,423 (+16.1%), from €127,085 to €147,508
- Tangible fixed assets -€16,088
down €16,088 (-5.1%), from €312,632 to €296,543
of which Land and buildings: -€19,664
- Other debts +€48,536
up €48,536 (+18.0%), from €269,842 to €318,379
- Debts after one year -€37,515
down €37,515 (-28.9%), from €129,687 to €92,172
- Profit (loss) carried forward -€19,458
down €19,458 (-100%), from €19,458 to €0
- Current portion of long-term debt -€10,559
down €10,559 (-22.0%), from €48,074 to €37,515
- Tax, wage and social debts -€8,210
down €8,210 (-43.1%), from €19,050 to €10,840
- Gross operating margin +€57,919
up €57,919 (+19.8%), from €292,266 to €350,185
- Taxes +€21,763
up €21,763 (+40.2%), from €54,078 to €75,840
- Depreciation -€20,259
down €20,259 (-36.1%), from €56,131 to €35,872
- Other operating charges +€5,774
up €5,774 (+164%), from €3,527 to €9,301
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 | €518,033 | €490,886 | -€27,147 | -5.2% |
| Fixed assets | 21/28 | €319,299 | €303,210 | -€16,088 | -5.0% |
| Tangible fixed assets | 22/27 | €312,632 | €296,543 | -€16,088 | -5.1% |
| Land and buildings | 22 | €300,781 | €281,117 | -€19,664 | -6.5% |
| Furniture and vehicles | 24 | €7,850 | €11,427 | +€3,576 | +45.6% |
| Other tangible fixed assets | 26 | €4,000 | €4,000 | = | 0.0% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €6,667 | €6,667 | = | 0.0% |
| Current assets | 29/58 | €198,735 | €187,676 | -€11,059 | -5.6% |
| Amounts receivable within one year | 40/41 | €2,819 | €7,334 | +€4,514 | +160% |
| Trade receivables | 40 | €138 | €2,872 | +€2,734 | +1,982% |
| Other amounts receivable | 41 | €2,682 | €4,462 | +€1,780 | +66.4% |
| Cash at bank and in hand | 54/58 | €68,830 | €32,834 | -€35,996 | -52.3% |
| Deferred charges and accrued income | 490/1 | €127,085 | €147,508 | +€20,423 | +16.1% |
| Total equity and liabilities | 10/49 | €518,033 | €490,886 | -€27,147 | -5.2% |
| Equity | 10/15 | €40,515 | €21,057 | -€19,458 | -48.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,457 | €2,457 | = | 0.0% |
| Tax-exempt reserves | 132 | €597 | €597 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,458 | €0 | -€19,458 | -100% |
| Amounts payable | 17/49 | €477,518 | €469,829 | -€7,689 | -1.6% |
| Amounts payable after more than one year | 17 | €129,687 | €92,172 | -€37,515 | -28.9% |
| Financial debts | 170/4 | €129,687 | €92,172 | -€37,515 | -28.9% |
| Amounts payable within one year | 42/48 | €342,063 | €377,466 | +€35,403 | +10.3% |
| Current portion of amounts payable after more than one year | 42 | €48,074 | €37,515 | -€10,559 | -22.0% |
| Trade debts | 44 | €5,097 | €10,732 | +€5,635 | +111% |
| Suppliers | 440/4 | €5,097 | €10,732 | +€5,635 | +111% |
| Taxes, remuneration and social security | 45 | €19,050 | €10,840 | -€8,210 | -43.1% |
| Taxes | 450/3 | €19,050 | €10,840 | -€8,210 | -43.1% |
| Other amounts payable | 47/48 | €269,842 | €318,379 | +€48,536 | +18.0% |
| Accrued charges and deferred income | 492/3 | €5,769 | €192 | -€5,577 | -96.7% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,131 | €35,872 | -€20,259 | -36.1% |
| Other operating charges | 640/8 | €3,527 | €9,301 | +€5,774 | +164% |
| Gross operating margin | 9900 | €292,266 | €350,185 | +€57,919 | +19.8% |
| Operating profit (loss) | 9901 | €232,607 | €305,012 | +€72,405 | +31.1% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €7,609 | €4,677 | -€2,933 | -38.5% |
| Recurring financial charges | 65 | €7,609 | €4,677 | -€2,933 | -38.5% |
| Profit (loss) for the period before taxes | 9903 | €224,998 | €300,336 | +€75,338 | +33.5% |
| Income taxes | 67/77 | €54,078 | €75,840 | +€21,763 | +40.2% |
| Profit (loss) for the period | 9904 | €170,921 | €224,495 | +€53,575 | +31.3% |
| Profit (loss) for the period to be appropriated | 9905 | €170,921 | €224,495 | +€53,575 | +31.3% |
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 14 October 2026 via checked.be.