ORTHOLEF: 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.
ORTHOLEF
Largest movements
- Receivables within one year -€227,289
down €227,289 (-37.6%), from €603,926 to €376,637
of which Other amounts receivable: -€207,429
- Cash +€166,031
up €166,031 (+3510.6%), from €4,729 to €170,761
mainly Receivables within one year (+€227,289) and Depreciation (+€19,082)
- Other debts -€39,157
down €39,157 (-40.9%), from €95,833 to €56,677
- Gross operating margin -€77,994
down €77,994 (-71.8%), from €108,566 to €30,572
- Financial income -€38,258
down €38,258 (-79.4%), from €48,198 to €9,940
- Taxes -€28,351
down €28,351 (-79.3%), from €35,760 to €7,408
- Financial charges +€10,123
up €10,123 (+383.0%), from €2,643 to €12,766
- Depreciation +€4,029
up €4,029 (+26.8%), from €15,053 to €19,082
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 | €1,166,016 | €1,122,143 | -€43,874 | -3.8% |
| Fixed assets | 21/28 | €505,758 | €512,167 | +€6,409 | +1.3% |
| Tangible fixed assets | 22/27 | €505,758 | €504,667 | -€1,091 | -0.2% |
| Land and buildings | 22 | €502,239 | €487,183 | -€15,056 | -3.0% |
| Plant, machinery and equipment | 23 | €3,047 | €2,394 | -€653 | -21.4% |
| Furniture and vehicles | 24 | €472 | €15,090 | +€14,619 | +3099.8% |
| Financial fixed assets | 28 | - | €7,500 | +€7,500 | |
| Current assets | 29/58 | €660,259 | €609,975 | -€50,283 | -7.6% |
| Amounts receivable within one year | 40/41 | €603,926 | €376,637 | -€227,289 | -37.6% |
| Trade receivables | 40 | €25,730 | €5,870 | -€19,860 | -77.2% |
| Other amounts receivable | 41 | €578,196 | €370,767 | -€207,429 | -35.9% |
| Cash at bank and in hand | 54/58 | €4,729 | €170,761 | +€166,031 | +3510.6% |
| Deferred charges and accrued income | 490/1 | €51,603 | €62,578 | +€10,975 | +21.3% |
| Total equity and liabilities | 10/49 | €1,166,016 | €1,122,143 | -€43,874 | -3.8% |
| Equity | 10/15 | €951,788 | €952,614 | +€827 | +0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €557,595 | €547,494 | -€10,102 | -1.8% |
| Tax-exempt reserves | 132 | €326,182 | €316,081 | -€10,102 | -3.1% |
| Distributable reserves | 133 | €231,413 | €231,413 | = | 0.0% |
| Profit (loss) carried forward | 14 | €375,592 | €386,521 | +€10,928 | +2.9% |
| Provisions and deferred taxes | 16 | €108,727 | €105,360 | -€3,367 | -3.1% |
| Deferred taxes | 168 | €108,727 | €105,360 | -€3,367 | -3.1% |
| Amounts payable | 17/49 | €105,502 | €64,168 | -€41,334 | -39.2% |
| Amounts payable within one year | 42/48 | €105,502 | €64,168 | -€41,334 | -39.2% |
| Current portion of amounts payable after more than one year | 42 | €9,331 | €6,339 | -€2,993 | -32.1% |
| Trade debts | 44 | €337 | €1,153 | +€816 | +242.1% |
| Suppliers | 440/4 | €337 | €1,153 | +€816 | +242.1% |
| Other amounts payable | 47/48 | €95,833 | €56,677 | -€39,157 | -40.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,053 | €19,082 | +€4,029 | +26.8% |
| Other operating charges | 640/8 | €3,738 | €3,797 | +€59 | +1.6% |
| Gross operating margin | 9900 | €108,566 | €30,572 | -€77,994 | -71.8% |
| Operating profit (loss) | 9901 | €89,776 | €7,694 | -€82,082 | -91.4% |
| Financial income | 75/76B | €48,198 | €9,940 | -€38,258 | -79.4% |
| Recurring financial income | 75 | €48,198 | €9,940 | -€38,258 | -79.4% |
| Financial charges | 65/66B | €2,643 | €12,766 | +€10,123 | +383.0% |
| Recurring financial charges | 65 | €2,643 | €12,766 | +€10,123 | +383.0% |
| Profit (loss) for the period before taxes | 9903 | €135,331 | €4,868 | -€130,463 | -96.4% |
| Transfer from deferred taxes | 780 | €3,367 | €3,367 | = | 0.0% |
| Income taxes | 67/77 | €35,760 | €7,408 | -€28,351 | -79.3% |
| Profit (loss) for the period | 9904 | €102,938 | €827 | -€102,111 | -99.2% |
| Transfer from tax-exempt reserves | 789 | €10,102 | €10,102 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €113,040 | €10,928 | -€102,111 | -90.3% |
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.