OrthoHL: 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.
OrthoHL
Largest movements
- Cash +€203,150
up €203,150 (+437.5%), from €46,439 to €249,589
mainly Other debts (+€587,813) and Net result for the year (+€272,945)
- Current investments +€74,746
up €74,746 (+19.2%), from €388,943 to €463,689
- Intangible fixed assets -€35,000
down €35,000 (-100.0%), from €35,000 to €0
- Tangible fixed assets -€12,815
down €12,815 (-2.6%), from €490,850 to €478,035
of which Land and buildings: -€24,848
- Other debts +€587,813
up €587,813 (+302.8%), from €194,157 to €781,970
- Profit (loss) carried forward -€239,686
down €239,686 (-100.0%), from €239,686 to €0
- Reserves -€87,369
down €87,369 (-45.5%), from €192,032 to €104,663
- Debts after one year -€28,045
down €28,045 (-10.7%), from €262,578 to €234,534
- Gross operating margin +€69,769
up €69,769 (+12.2%), from €571,388 to €641,158
- Taxes +€19,074
up €19,074 (+25.5%), from €74,723 to €93,797
- Staff costs +€14,076
up €14,076 (+10.5%), from €133,673 to €147,749
- Depreciation +€9,201
up €9,201 (+8.8%), from €104,233 to €113,434
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 | €997,798 | €1,235,390 | +€237,592 | +23.8% |
| Fixed assets | 21/28 | €525,850 | €478,035 | -€47,815 | -9.1% |
| Intangible fixed assets | 21 | €35,000 | €0 | -€35,000 | -100.0% |
| Tangible fixed assets | 22/27 | €490,850 | €478,035 | -€12,815 | -2.6% |
| Land and buildings | 22 | €371,973 | €347,125 | -€24,848 | -6.7% |
| Plant, machinery and equipment | 23 | €97,824 | €104,549 | +€6,725 | +6.9% |
| Furniture and vehicles | 24 | €21,053 | €26,362 | +€5,308 | +25.2% |
| Current assets | 29/58 | €471,948 | €757,355 | +€285,407 | +60.5% |
| Amounts receivable within one year | 40/41 | €12,177 | €16,316 | +€4,139 | +34.0% |
| Trade receivables | 40 | €55 | €10,000 | +€9,945 | +18081.8% |
| Other amounts receivable | 41 | €12,122 | €6,316 | -€5,806 | -47.9% |
| Current investments | 50/53 | €388,943 | €463,689 | +€74,746 | +19.2% |
| Cash at bank and in hand | 54/58 | €46,439 | €249,589 | +€203,150 | +437.5% |
| Deferred charges and accrued income | 490/1 | €24,389 | €27,761 | +€3,372 | +13.8% |
| Total equity and liabilities | 10/49 | €997,798 | €1,235,390 | +€237,592 | +23.8% |
| Equity | 10/15 | €450,318 | €123,263 | -€327,056 | -72.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €192,032 | €104,663 | -€87,369 | -45.5% |
| Distributable reserves | 133 | €192,032 | €104,663 | -€87,369 | -45.5% |
| Profit (loss) carried forward | 14 | €239,686 | €0 | -€239,686 | -100.0% |
| Amounts payable | 17/49 | €547,480 | €1,112,127 | +€564,647 | +103.1% |
| Amounts payable after more than one year | 17 | €262,578 | €234,534 | -€28,045 | -10.7% |
| Financial debts | 170/4 | €262,578 | €234,534 | -€28,045 | -10.7% |
| Amounts payable within one year | 42/48 | €274,635 | €864,898 | +€590,263 | +214.9% |
| Current portion of amounts payable after more than one year | 42 | €33,750 | €28,045 | -€5,705 | -16.9% |
| Trade debts | 44 | €34,854 | €33,249 | -€1,605 | -4.6% |
| Suppliers | 440/4 | €34,854 | €33,249 | -€1,605 | -4.6% |
| Advances received on contracts in progress | 46 | €2,433 | €0 | -€2,433 | -100.0% |
| Taxes, remuneration and social security | 45 | €9,440 | €21,634 | +€12,194 | +129.2% |
| Taxes | 450/3 | €410 | €12,874 | +€12,464 | +3043.8% |
| Remuneration and social security | 454/9 | €9,031 | €8,760 | -€271 | -3.0% |
| Other amounts payable | 47/48 | €194,157 | €781,970 | +€587,813 | +302.8% |
| Accrued charges and deferred income | 492/3 | €10,267 | €12,696 | +€2,429 | +23.7% |
| Non-recurring operating income | 76A | - | €3,436 | +€3,436 | |
| Remuneration, social security and pensions | 62 | €133,673 | €147,749 | +€14,076 | +10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,233 | €113,434 | +€9,201 | +8.8% |
| Other operating charges | 640/8 | €10,531 | €4,281 | -€6,250 | -59.3% |
| Gross operating margin | 9900 | €571,388 | €641,158 | +€69,769 | +12.2% |
| Operating profit (loss) | 9901 | €322,951 | €375,693 | +€52,742 | +16.3% |
| Financial income | 75/76B | €5,691 | €8,388 | +€2,697 | +47.4% |
| Recurring financial income | 75 | €5,691 | €8,388 | +€2,697 | +47.4% |
| Financial charges | 65/66B | €14,233 | €17,340 | +€3,107 | +21.8% |
| Recurring financial charges | 65 | €14,233 | €17,340 | +€3,107 | +21.8% |
| Profit (loss) for the period before taxes | 9903 | €314,409 | €366,741 | +€52,332 | +16.6% |
| Income taxes | 67/77 | €74,723 | €93,797 | +€19,074 | +25.5% |
| Profit (loss) for the period | 9904 | €239,686 | €272,945 | +€33,258 | +13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €239,686 | €272,945 | +€33,258 | +13.9% |
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 2 October 2026 via checked.be.