ORTHOPAR: 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.
ORTHOPAR
Largest movements
- Tangible fixed assets +€743,216
up €743,216 (+77.3%), from €961,093 to €1.7m
of which Land and buildings: +€728,647
- Receivables after one year +€450,000
new in 2025: €450,000
- Receivables within one year -€245,070
down €245,070 (-99.6%), from €246,169 to €1,100
- Cash +€41,460
up €41,460 (+30.8%), from €134,521 to €175,981
mainly Contributions, distributions and other (+€767,419) and Net result for the year (+€255,978)
- Current investments +€25,750
new in 2025: €25,750
- Reserves +€1.0m
up €1.0m (+80.7%), from €1.3m to €2.3m
- Other debts -€40,006
down €40,006 (-74.8%), from €53,452 to €13,447
- Gross operating margin +€335,692
up €335,692 (+198%), from €169,397 to €505,089
- Taxes +€106,523
up €106,523 (+766%), from €13,900 to €120,423
- Financial income +€7,314
up €7,314 (+17,225%), from €42 to €7,356
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 | €1,343,109 | €2,362,348 | +€1.0m | +75.9% |
| Fixed assets | 21/28 | €961,093 | €1,704,309 | +€743,216 | +77.3% |
| Tangible fixed assets | 22/27 | €961,093 | €1,704,309 | +€743,216 | +77.3% |
| Land and buildings | 22 | €955,980 | €1,684,627 | +€728,647 | +76.2% |
| Plant, machinery and equipment | 23 | €0 | €6,119 | +€6,119 | |
| Furniture and vehicles | 24 | €5,113 | €13,563 | +€8,451 | +165% |
| Current assets | 29/58 | €382,016 | €658,039 | +€276,023 | +72.3% |
| Amounts receivable after more than one year | 29 | - | €450,000 | +€450,000 | |
| Other amounts receivable | 291 | - | €450,000 | +€450,000 | |
| Amounts receivable within one year | 40/41 | €246,169 | €1,100 | -€245,070 | -99.6% |
| Other amounts receivable | 41 | €246,169 | €1,100 | -€245,070 | -99.6% |
| Current investments | 50/53 | - | €25,750 | +€25,750 | |
| Cash at bank and in hand | 54/58 | €134,521 | €175,981 | +€41,460 | +30.8% |
| Deferred charges and accrued income | 490/1 | €1,326 | €5,209 | +€3,883 | +293% |
| Total equity and liabilities | 10/49 | €1,343,109 | €2,362,348 | +€1.0m | +75.9% |
| Equity | 10/15 | €1,273,853 | €2,297,250 | +€1.0m | +80.3% |
| Contributions | 10/11 | €12,400 | €17,400 | +€5,000 | +40.3% |
| Reserves | 13 | €1,261,453 | €2,279,850 | +€1.0m | +80.7% |
| Distributable reserves | 133 | €1,261,453 | €2,279,850 | +€1.0m | +80.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €69,255 | €65,099 | -€4,157 | -6.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €65,615 | €65,099 | -€517 | -0.8% |
| Current portion of amounts payable after more than one year | 42 | €7,875 | €28,769 | +€20,894 | +265% |
| Trade debts | 44 | €4,288 | €3,329 | -€959 | -22.4% |
| Suppliers | 440/4 | €4,288 | €3,329 | -€959 | -22.4% |
| Taxes, remuneration and social security | 45 | €0 | €19,553 | +€19,553 | |
| Taxes | 450/3 | €0 | €19,553 | +€19,553 | |
| Other amounts payable | 47/48 | €53,452 | €13,447 | -€40,006 | -74.8% |
| Accrued charges and deferred income | 492/3 | €3,640 | €0 | -€3,640 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,031 | €79,581 | +€2,550 | +3.3% |
| Other operating charges | 640/8 | €10,895 | €13,126 | +€2,231 | +20.5% |
| Non-recurring operating charges | 66A | - | €40,425 | +€40,425 | |
| Gross operating margin | 9900 | €169,397 | €505,089 | +€335,692 | +198% |
| Operating profit (loss) | 9901 | €81,471 | €371,957 | +€290,486 | +357% |
| Financial income | 75/76B | €42 | €7,356 | +€7,314 | +17,225% |
| Recurring financial income | 75 | €42 | €7,356 | +€7,314 | +17,225% |
| Financial charges | 65/66B | €652 | €2,912 | +€2,260 | +346% |
| Recurring financial charges | 65 | €652 | €2,912 | +€2,260 | +346% |
| Profit (loss) for the period before taxes | 9903 | €80,861 | €376,401 | +€295,540 | +365% |
| Income taxes | 67/77 | €13,900 | €120,423 | +€106,523 | +766% |
| Profit (loss) for the period | 9904 | €66,961 | €255,978 | +€189,017 | +282% |
| Profit (loss) for the period to be appropriated | 9905 | €66,961 | €255,978 | +€189,017 | +282% |
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 22 October 2026 via checked.be.