ORTHOMAX: 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.
ORTHOMAX
Largest movements
- Cash +€662,972
up €662,972 (+317.9%), from €208,560 to €871,532
mainly Current investments (+€300,000) and Other debts (+€284,307)
- Current investments -€300,000
down €300,000 (-23.1%), from €1.3m to €1.0m
- Tangible fixed assets -€41,613
down €41,613 (-32.6%), from €127,806 to €86,193
of which Furniture and vehicles: -€40,118
- Receivables within one year -€35,497
down €35,497 (-100.0%), from €35,497 to €0
- Other debts +€284,307
up €284,307 (+120.3%), from €236,373 to €520,680
- Tax, wage and social debts +€59,846
up €59,846 (+481.1%), from €12,441 to €72,287
- Reserves -€57,841
down €57,841 (-4.1%), from €1.4m to €1.4m
of which Distributable reserves: -€57,841
- Gross operating margin +€152,294
up €152,294 (+64.7%), from €235,430 to €387,724
- Taxes +€36,244
up €36,244 (+51.3%), from €70,617 to €106,860
- Financial income -€33,367
down €33,367 (-80.8%), from €41,302 to €7,935
- Financial charges +€7,357
up €7,357 (+852.7%), from €863 to €8,219
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 | €1,672,472 | €1,958,354 | +€285,882 | +17.1% |
| Fixed assets | 21/28 | €127,806 | €86,193 | -€41,613 | -32.6% |
| Tangible fixed assets | 22/27 | €127,806 | €86,193 | -€41,613 | -32.6% |
| Plant, machinery and equipment | 23 | €4,868 | €3,374 | -€1,494 | -30.7% |
| Furniture and vehicles | 24 | €122,938 | €82,819 | -€40,118 | -32.6% |
| Current assets | 29/58 | €1,544,666 | €1,872,161 | +€327,495 | +21.2% |
| Amounts receivable within one year | 40/41 | €35,497 | €0 | -€35,497 | -100.0% |
| Other amounts receivable | 41 | €35,497 | €0 | -€35,497 | -100.0% |
| Current investments | 50/53 | €1,300,000 | €1,000,000 | -€300,000 | -23.1% |
| Cash at bank and in hand | 54/58 | €208,560 | €871,532 | +€662,972 | +317.9% |
| Deferred charges and accrued income | 490/1 | €608 | €629 | +€20 | +3.4% |
| Total equity and liabilities | 10/49 | €1,672,472 | €1,958,354 | +€285,882 | +17.1% |
| Equity | 10/15 | €1,422,721 | €1,364,880 | -€57,841 | -4.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,416,521 | €1,358,680 | -€57,841 | -4.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,414,661 | €1,356,820 | -€57,841 | -4.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €249,751 | €593,474 | +€343,723 | +137.6% |
| Amounts payable within one year | 42/48 | €249,751 | €593,474 | +€343,723 | +137.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €937 | €507 | -€430 | -45.9% |
| Suppliers | 440/4 | €937 | €507 | -€430 | -45.9% |
| Taxes, remuneration and social security | 45 | €12,441 | €72,287 | +€59,846 | +481.1% |
| Taxes | 450/3 | €12,441 | €72,287 | +€59,846 | +481.1% |
| Other amounts payable | 47/48 | €236,373 | €520,680 | +€284,307 | +120.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,161 | €41,613 | +€1,452 | +3.6% |
| Other operating charges | 640/8 | €1,662 | €2,250 | +€588 | +35.4% |
| Gross operating margin | 9900 | €235,430 | €387,724 | +€152,294 | +64.7% |
| Operating profit (loss) | 9901 | €193,607 | €343,861 | +€150,254 | +77.6% |
| Financial income | 75/76B | €41,302 | €7,935 | -€33,367 | -80.8% |
| Recurring financial income | 75 | €41,302 | €7,935 | -€33,367 | -80.8% |
| Financial charges | 65/66B | €863 | €8,219 | +€7,357 | +852.7% |
| Recurring financial charges | 65 | €863 | €8,219 | +€7,357 | +852.7% |
| Profit (loss) for the period before taxes | 9903 | €234,046 | €343,576 | +€109,530 | +46.8% |
| Income taxes | 67/77 | €70,617 | €106,860 | +€36,244 | +51.3% |
| Profit (loss) for the period | 9904 | €163,430 | €236,716 | +€73,286 | +44.8% |
| Profit (loss) for the period to be appropriated | 9905 | €163,430 | €236,716 | +€73,286 | +44.8% |
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.