ORTHOPHAR: what changed
ORTHOPHAR
Largest movements
- Current investments +€490,000
new in 2025: €490,000
- Financial fixed assets -€487,641
down €487,641 (-62.2%), from €783,469 to €295,828
- Tangible fixed assets -€23,098
down €23,098 (-34.5%), from €66,908 to €43,809
of which Furniture and vehicles: -€21,928
- Cash +€15,875
up €15,875 (+54.0%), from €29,399 to €45,274
mainly Investment in fixed assets (net) (+€509,569) and Debts after one year (+€30,875)
- Debts after one year +€30,875
up €30,875 (+15.1%), from €205,000 to €235,875
- Reserves -€25,236
down €25,236 (-4.2%), from €603,169 to €577,933
of which Distributable reserves: -€24,575
- Financial charges +€425,939
up €425,939 (+93,408%), from €456 to €426,395
of which Non-recurring financial charges: +€424,359
- Financial income +€374,851
up €374,851 (+643%), from €58,330 to €433,181
- Gross operating margin -€30,620
down €30,620 (-75.9%), from €40,355 to €9,736
- Taxes -€13,177
down €13,177 (-80.7%), from €16,321 to €3,144
- Other operating charges +€3,341
up €3,341 (+208%), from €1,603 to €4,943
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €897,504 | €887,591 | -€9,913 | -1.1% |
| Fixed assets | 21/28 | €850,377 | €339,637 | -€510,740 | -60.1% |
| Tangible fixed assets | 22/27 | €66,908 | €43,809 | -€23,098 | -34.5% |
| Land and buildings | 22 | €44,980 | €43,809 | -€1,170 | -2.6% |
| Furniture and vehicles | 24 | €21,928 | €0 | -€21,928 | -100% |
| Financial fixed assets | 28 | €783,469 | €295,828 | -€487,641 | -62.2% |
| Current assets | 29/58 | €47,127 | €547,954 | +€500,826 | +1,063% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €16,875 | €11,733 | -€5,143 | -30.5% |
| Trade receivables | 40 | €16,875 | €11,733 | -€5,143 | -30.5% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | - | €490,000 | +€490,000 | |
| Cash at bank and in hand | 54/58 | €29,399 | €45,274 | +€15,875 | +54.0% |
| Deferred charges and accrued income | 490/1 | €853 | €947 | +€94 | +11.0% |
| Total equity and liabilities | 10/49 | €897,504 | €887,591 | -€9,913 | -1.1% |
| Equity | 10/15 | €665,169 | €639,933 | -€25,236 | -3.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €603,169 | €577,933 | -€25,236 | -4.2% |
| Non-distributable reserves | 130/1 | €52,820 | €52,160 | -€660 | -1.3% |
| Legal reserve | 130 | €52,820 | €52,160 | -€660 | -1.3% |
| Distributable reserves | 133 | €550,349 | €525,774 | -€24,575 | -4.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €232,335 | €247,658 | +€15,323 | +6.6% |
| Amounts payable after more than one year | 17 | €205,000 | €235,875 | +€30,875 | +15.1% |
| Financial debts | 170/4 | €205,000 | €235,875 | +€30,875 | +15.1% |
| Amounts payable within one year | 42/48 | €26,064 | €11,767 | -€14,297 | -54.9% |
| Current portion of amounts payable after more than one year | 42 | €1,875 | €0 | -€1,875 | -100% |
| Trade debts | 44 | €6,261 | €2,646 | -€3,615 | -57.7% |
| Suppliers | 440/4 | €6,261 | €2,646 | -€3,615 | -57.7% |
| Taxes, remuneration and social security | 45 | €11,670 | €7,931 | -€3,739 | -32.0% |
| Taxes | 450/3 | €11,670 | €7,931 | -€3,739 | -32.0% |
| Other amounts payable | 47/48 | €6,258 | €1,190 | -€5,068 | -81.0% |
| Accrued charges and deferred income | 492/3 | €1,271 | €15 | -€1,256 | -98.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,242 | €1,170 | -€72 | -5.8% |
| Other operating charges | 640/8 | €1,603 | €4,943 | +€3,341 | +208% |
| Gross operating margin | 9900 | €40,355 | €9,736 | -€30,620 | -75.9% |
| Operating profit (loss) | 9901 | €37,510 | €3,622 | -€33,888 | -90.3% |
| Financial income | 75/76B | €58,330 | €433,181 | +€374,851 | +643% |
| Recurring financial income | 75 | €58,330 | €433,181 | +€374,851 | +643% |
| Financial charges | 65/66B | €456 | €426,395 | +€425,939 | +93,408% |
| Recurring financial charges | 65 | €456 | €2,036 | +€1,580 | +347% |
| Non-recurring financial charges | 66B | - | €424,359 | +€424,359 | |
| Profit (loss) for the period before taxes | 9903 | €95,384 | €10,408 | -€84,976 | -89.1% |
| Income taxes | 67/77 | €16,321 | €3,144 | -€13,177 | -80.7% |
| Profit (loss) for the period | 9904 | €79,063 | €7,264 | -€71,799 | -90.8% |
| Profit (loss) for the period to be appropriated | 9905 | €79,063 | €7,264 | -€71,799 | -90.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.