Orthoring: 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.
Orthoring
Largest movements
- Financial fixed assets -€600,000
down €600,000 (-100.0%), from €600,000 to €1
- Receivables within one year +€441,990
up €441,990 (+308.6%), from €143,203 to €585,193
- Tangible fixed assets +€405,774
up €405,774 (+363.1%), from €111,762 to €517,536
of which Land and buildings: +€394,704
- Deferred charges and accrued income -€122,864
down €122,864 (-97.8%), from €125,577 to €2,714
- Intangible fixed assets +€87,764
new in 2025: €87,764
- Reserves +€157,244
up €157,244 (+85.7%), from €183,503 to €340,748
of which Distributable reserves: +€157,244
- Trade debts -€96,476
down €96,476 (-87.0%), from €110,829 to €14,353
- Debts after one year +€58,315
up €58,315 (+14.2%), from €411,931 to €470,246
- Current portion of long-term debt +€33,044
up €33,044 (+48.2%), from €68,580 to €101,624
- Profit (loss) carried forward +€30,551
up €30,551 (+13.6%), from €225,129 to €255,680
- Depreciation +€44,335
up €44,335 (+2065.2%), from €2,147 to €46,482
- Gross operating margin +€26,232
up €26,232 (+9.2%), from €286,573 to €312,805
- Other operating charges +€5,578
new in 2025: €5,578
- Financial charges +€4,020
up €4,020 (+32.6%), from €12,351 to €16,371
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 | €1,064,860 | €1,230,551 | +€165,691 | +15.6% |
| Fixed assets | 21/28 | €711,762 | €605,300 | -€106,461 | -15.0% |
| Intangible fixed assets | 21 | - | €87,764 | +€87,764 | |
| Tangible fixed assets | 22/27 | €111,762 | €517,536 | +€405,774 | +363.1% |
| Land and buildings | 22 | €1,186 | €395,890 | +€394,704 | +33266.8% |
| Plant, machinery and equipment | 23 | - | €2,312 | +€2,312 | |
| Furniture and vehicles | 24 | €7,725 | €16,484 | +€8,759 | +113.4% |
| Other tangible fixed assets | 26 | €102,850 | €102,850 | = | 0.0% |
| Financial fixed assets | 28 | €600,000 | €1 | -€600,000 | -100.0% |
| Current assets | 29/58 | €353,098 | €625,250 | +€272,152 | +77.1% |
| Amounts receivable within one year | 40/41 | €143,203 | €585,193 | +€441,990 | +308.6% |
| Other amounts receivable | 41 | €143,203 | €585,193 | +€441,990 | +308.6% |
| Cash at bank and in hand | 54/58 | €84,318 | €37,344 | -€46,975 | -55.7% |
| Deferred charges and accrued income | 490/1 | €125,577 | €2,714 | -€122,864 | -97.8% |
| Total equity and liabilities | 10/49 | €1,064,860 | €1,230,551 | +€165,691 | +15.6% |
| Equity | 10/15 | €414,832 | €602,627 | +€187,796 | +45.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €183,503 | €340,748 | +€157,244 | +85.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €181,643 | €338,888 | +€157,244 | +86.6% |
| Profit (loss) carried forward | 14 | €225,129 | €255,680 | +€30,551 | +13.6% |
| Amounts payable | 17/49 | €650,028 | €627,923 | -€22,105 | -3.4% |
| Amounts payable after more than one year | 17 | €411,931 | €470,246 | +€58,315 | +14.2% |
| Financial debts | 170/4 | €411,931 | €470,246 | +€58,315 | +14.2% |
| Amounts payable within one year | 42/48 | €238,097 | €152,001 | -€86,097 | -36.2% |
| Current portion of amounts payable after more than one year | 42 | €68,580 | €101,624 | +€33,044 | +48.2% |
| Trade debts | 44 | €110,829 | €14,353 | -€96,476 | -87.0% |
| Suppliers | 440/4 | €110,829 | €14,353 | -€96,476 | -87.0% |
| Taxes, remuneration and social security | 45 | €58,689 | €36,024 | -€22,665 | -38.6% |
| Taxes | 450/3 | €58,689 | €36,024 | -€22,665 | -38.6% |
| Accrued charges and deferred income | 492/3 | - | €5,677 | +€5,677 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,147 | €46,482 | +€44,335 | +2065.2% |
| Other operating charges | 640/8 | - | €5,578 | +€5,578 | |
| Gross operating margin | 9900 | €286,573 | €312,805 | +€26,232 | +9.2% |
| Operating profit (loss) | 9901 | €284,426 | €260,745 | -€23,681 | -8.3% |
| Financial income | 75/76B | - | €35 | +€35 | |
| Recurring financial income | 75 | - | €35 | +€35 | |
| Financial charges | 65/66B | €12,351 | €16,371 | +€4,020 | +32.6% |
| Recurring financial charges | 65 | €12,351 | €16,371 | +€4,020 | +32.6% |
| Profit (loss) for the period before taxes | 9903 | €272,076 | €244,409 | -€27,667 | -10.2% |
| Income taxes | 67/77 | €87,677 | €87,164 | -€513 | -0.6% |
| Profit (loss) for the period | 9904 | €184,398 | €157,244 | -€27,154 | -14.7% |
| Profit (loss) for the period to be appropriated | 9905 | €184,398 | €157,244 | -€27,154 | -14.7% |
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.