ORTHOMAR: 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.
ORTHOMAR
Largest movements
- Tangible fixed assets +€228,832
up €228,832 (+91.5%), from €250,096 to €478,928
of which Land and buildings: +€142,484
- Cash +€58,203
up €58,203 (+6.7%), from €863,637 to €921,840
mainly Net result for the year (+€696,217) and Debts after one year (+€166,670)
- Receivables within one year -€39,184
down €39,184 (-14.1%), from €278,261 to €239,077
- Reserves +€351,535
up €351,535 (+61.7%), from €570,210 to €921,745
of which Tax-exempt reserves: +€351,535
- Other debts -€275,071
down €275,071 (-44.4%), from €619,753 to €344,682
- Debts after one year +€166,670
up €166,670 (+107.3%), from €155,299 to €321,969
- Tax, wage and social debts -€30,104
down €30,104 (-75.7%), from €39,780 to €9,676
- Current portion of long-term debt +€25,399
up €25,399 (+73.3%), from €34,659 to €60,058
- Gross operating margin +€203,252
up €203,252 (+25.9%), from €783,964 to €987,216
- Taxes +€47,288
up €47,288 (+25.2%), from €187,565 to €234,853
- Depreciation +€31,468
up €31,468 (+94.1%), from €33,433 to €64,901
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 | €1,449,090 | €1,695,477 | +€246,387 | +17.0% |
| Fixed assets | 21/28 | €251,616 | €480,457 | +€228,841 | +90.9% |
| Tangible fixed assets | 22/27 | €250,096 | €478,928 | +€228,832 | +91.5% |
| Land and buildings | 22 | €105,336 | €247,820 | +€142,484 | +135.3% |
| Plant, machinery and equipment | 23 | €47,842 | €148,096 | +€100,253 | +209.5% |
| Furniture and vehicles | 24 | €96,917 | €83,012 | -€13,905 | -14.3% |
| Financial fixed assets | 28 | €1,520 | €1,530 | +€9 | +0.6% |
| Current assets | 29/58 | €1,197,474 | €1,215,020 | +€17,545 | +1.5% |
| Stocks and contracts in progress | 3 | €29,900 | €25,100 | -€4,800 | -16.1% |
| Stocks | 30/36 | €29,900 | €25,100 | -€4,800 | -16.1% |
| Amounts receivable within one year | 40/41 | €278,261 | €239,077 | -€39,184 | -14.1% |
| Other amounts receivable | 41 | €278,261 | €239,077 | -€39,184 | -14.1% |
| Cash at bank and in hand | 54/58 | €863,637 | €921,840 | +€58,203 | +6.7% |
| Deferred charges and accrued income | 490/1 | €25,676 | €29,002 | +€3,326 | +13.0% |
| Total equity and liabilities | 10/49 | €1,449,090 | €1,695,477 | +€246,387 | +17.0% |
| Equity | 10/15 | €589,377 | €940,912 | +€351,535 | +59.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €570,210 | €921,745 | +€351,535 | +61.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €568,350 | €919,885 | +€351,535 | +61.9% |
| Profit (loss) carried forward | 14 | €567 | €567 | = | 0.0% |
| Amounts payable | 17/49 | €859,714 | €754,565 | -€105,148 | -12.2% |
| Amounts payable after more than one year | 17 | €155,299 | €321,969 | +€166,670 | +107.3% |
| Financial debts | 170/4 | €155,299 | €321,969 | +€166,670 | +107.3% |
| Amounts payable within one year | 42/48 | €703,396 | €431,577 | -€271,818 | -38.6% |
| Current portion of amounts payable after more than one year | 42 | €34,659 | €60,058 | +€25,399 | +73.3% |
| Trade debts | 44 | €9,203 | €17,161 | +€7,958 | +86.5% |
| Suppliers | 440/4 | €9,203 | €17,161 | +€7,958 | +86.5% |
| Taxes, remuneration and social security | 45 | €39,780 | €9,676 | -€30,104 | -75.7% |
| Taxes | 450/3 | €39,780 | €9,676 | -€30,104 | -75.7% |
| Other amounts payable | 47/48 | €619,753 | €344,682 | -€275,071 | -44.4% |
| Accrued charges and deferred income | 492/3 | €1,019 | €1,019 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,433 | €64,901 | +€31,468 | +94.1% |
| Other operating charges | 640/8 | €7,753 | €4,023 | -€3,729 | -48.1% |
| Gross operating margin | 9900 | €783,964 | €987,216 | +€203,252 | +25.9% |
| Operating profit (loss) | 9901 | €742,778 | €918,292 | +€175,514 | +23.6% |
| Financial income | 75/76B | €14,879 | €22,688 | +€7,809 | +52.5% |
| Recurring financial income | 75 | €14,879 | €22,688 | +€7,809 | +52.5% |
| Financial charges | 65/66B | €7,793 | €9,910 | +€2,117 | +27.2% |
| Recurring financial charges | 65 | €7,793 | €9,910 | +€2,117 | +27.2% |
| Profit (loss) for the period before taxes | 9903 | €749,865 | €931,070 | +€181,205 | +24.2% |
| Income taxes | 67/77 | €187,565 | €234,853 | +€47,288 | +25.2% |
| Profit (loss) for the period | 9904 | €562,299 | €696,217 | +€133,917 | +23.8% |
| Transfer to tax-exempt reserves | 689 | €357,850 | €351,535 | -€6,315 | -1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €204,449 | €344,682 | +€140,232 | +68.6% |
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 6 October 2026 via checked.be.