Orthoro: 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.
Orthoro
Largest movements
- Cash +€60,323
up €60,323 (+24.3%), from €248,311 to €308,633
mainly Net result for the year (+€314,419) and Other debts (+€96,126)
- Current investments -€57,135
down €57,135 (-82.6%), from €69,135 to €12,000
- Receivables within one year +€33,584
up €33,584 (+39.5%), from €85,121 to €118,705
- Tangible fixed assets -€19,652
down €19,652 (-18.7%), from €105,154 to €85,502
of which Furniture and vehicles: -€19,210
- Other debts +€96,126
up €96,126 (+33.0%), from €291,334 to €387,460
- Reserves -€60,000
down €60,000 (-42.9%), from €140,000 to €80,000
- Tax, wage and social debts -€12,412
down €12,412 (-95.1%), from €13,047 to €635
- Debts after one year -€10,562
down €10,562 (-27.9%), from €37,810 to €27,248
- Trade debts +€7,015
up €7,015 (+244.9%), from €2,865 to €9,879
- Gross operating margin +€45,594
up €45,594 (+11.5%), from €397,089 to €442,683
- Depreciation +€10,508
up €10,508 (+73.3%), from €14,330 to €24,839
- Taxes +€7,588
up €7,588 (+8.2%), from €93,047 to €100,635
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 | €509,326 | €529,305 | +€19,979 | +3.9% |
| Fixed assets | 21/28 | €106,072 | €86,420 | -€19,652 | -18.5% |
| Tangible fixed assets | 22/27 | €105,154 | €85,502 | -€19,652 | -18.7% |
| Furniture and vehicles | 24 | €100,837 | €81,627 | -€19,210 | -19.1% |
| Other tangible fixed assets | 26 | €4,317 | €3,875 | -€442 | -10.2% |
| Financial fixed assets | 28 | €918 | €918 | = | 0.0% |
| Current assets | 29/58 | €403,254 | €442,885 | +€39,631 | +9.8% |
| Amounts receivable within one year | 40/41 | €85,121 | €118,705 | +€33,584 | +39.5% |
| Trade receivables | 40 | €85,121 | €118,705 | +€33,584 | +39.5% |
| Current investments | 50/53 | €69,135 | €12,000 | -€57,135 | -82.6% |
| Cash at bank and in hand | 54/58 | €248,311 | €308,633 | +€60,323 | +24.3% |
| Deferred charges and accrued income | 490/1 | €688 | €3,547 | +€2,859 | +415.7% |
| Total equity and liabilities | 10/49 | €509,326 | €529,305 | +€19,979 | +3.9% |
| Equity | 10/15 | €154,102 | €93,521 | -€60,581 | -39.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €140,000 | €80,000 | -€60,000 | -42.9% |
| Distributable reserves | 133 | €140,000 | €80,000 | -€60,000 | -42.9% |
| Profit (loss) carried forward | 14 | €4,102 | €3,521 | -€581 | -14.2% |
| Amounts payable | 17/49 | €355,224 | €435,784 | +€80,561 | +22.7% |
| Amounts payable after more than one year | 17 | €37,810 | €27,248 | -€10,562 | -27.9% |
| Financial debts | 170/4 | €37,810 | €27,248 | -€10,562 | -27.9% |
| Amounts payable within one year | 42/48 | €317,414 | €408,537 | +€91,123 | +28.7% |
| Current portion of amounts payable after more than one year | 42 | €10,168 | €10,562 | +€394 | +3.9% |
| Trade debts | 44 | €2,865 | €9,879 | +€7,015 | +244.9% |
| Suppliers | 440/4 | €2,865 | €9,879 | +€7,015 | +244.9% |
| Taxes, remuneration and social security | 45 | €13,047 | €635 | -€12,412 | -95.1% |
| Taxes | 450/3 | €13,047 | €635 | -€12,412 | -95.1% |
| Other amounts payable | 47/48 | €291,334 | €387,460 | +€96,126 | +33.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,330 | €24,839 | +€10,508 | +73.3% |
| Other operating charges | 640/8 | €643 | €810 | +€167 | +26.0% |
| Gross operating margin | 9900 | €397,089 | €442,683 | +€45,594 | +11.5% |
| Operating profit (loss) | 9901 | €382,116 | €417,034 | +€34,918 | +9.1% |
| Financial income | 75/76B | €138 | €525 | +€387 | +281.5% |
| Recurring financial income | 75 | €138 | €525 | +€387 | +281.5% |
| Financial charges | 65/66B | €1,653 | €2,505 | +€853 | +51.6% |
| Recurring financial charges | 65 | €1,653 | €2,505 | +€853 | +51.6% |
| Profit (loss) for the period before taxes | 9903 | €380,601 | €415,054 | +€34,453 | +9.1% |
| Income taxes | 67/77 | €93,047 | €100,635 | +€7,588 | +8.2% |
| Profit (loss) for the period | 9904 | €287,553 | €314,419 | +€26,866 | +9.3% |
| Profit (loss) for the period to be appropriated | 9905 | €287,553 | €314,419 | +€26,866 | +9.3% |
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 8 October 2026 via checked.be.