ORTHORUN: 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.
ORTHORUN
Largest movements
- Tangible fixed assets +€339,534
up €339,534 (+224%), from €151,539 to €491,072
- Receivables within one year -€68,037
down €68,037 (-19.1%), from €355,664 to €287,627
of which Trade receivables: -€106,948
- Cash -€29,065
down €29,065 (-39.8%), from €72,972 to €43,907
mainly Investment in fixed assets (net) (-€418,238) and Contributions, distributions and other (-€171,430)
- Stocks and contracts +€21,598
up €21,598 (+11.1%), from €194,076 to €215,674
- Deferred charges and accrued income +€19,730
up €19,730 (+40.3%), from €48,913 to €68,644
- Debts after one year +€245,902
up €245,902 (+450%), from €54,645 to €300,547
- Trade debts +€102,333
up €102,333 (+40.3%), from €253,669 to €356,001
- Profit (loss) carried forward -€36,447
down €36,447 (-63.5%), from €57,392 to €20,946
- Tax, wage and social debts -€28,291
down €28,291 (-27.1%), from €104,344 to €76,053
of which Taxes: -€41,018
- Current portion of long-term debt +€17,158
up €17,158 (+64.7%), from €26,499 to €43,657
- Gross operating margin +€77,749
up €77,749 (+8.8%), from €884,905 to €962,654
- Staff costs +€55,429
up €55,429 (+8.9%), from €622,410 to €677,838
- Other operating charges +€29,698
up €29,698 (+1,343%), from €2,211 to €31,909
- Taxes -€13,198
down €13,198 (-24.3%), from €54,200 to €41,002
- Depreciation +€10,112
up €10,112 (+16.7%), from €60,395 to €70,507
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 | €836,315 | €1,128,274 | +€291,958 | +34.9% |
| Fixed assets | 21/28 | €164,691 | €512,422 | +€347,732 | +211% |
| Intangible fixed assets | 21 | €11,252 | €17,950 | +€6,698 | +59.5% |
| Tangible fixed assets | 22/27 | €151,539 | €491,072 | +€339,534 | +224% |
| Plant, machinery and equipment | 23 | €19,635 | €171,856 | +€152,222 | +775% |
| Furniture and vehicles | 24 | €91,377 | €179,897 | +€88,520 | +96.9% |
| Other tangible fixed assets | 26 | €40,527 | €139,319 | +€98,792 | +244% |
| Financial fixed assets | 28 | €1,900 | €3,400 | +€1,500 | +79.0% |
| Current assets | 29/58 | €671,625 | €615,852 | -€55,773 | -8.3% |
| Stocks and contracts in progress | 3 | €194,076 | €215,674 | +€21,598 | +11.1% |
| Stocks | 30/36 | €194,076 | €215,674 | +€21,598 | +11.1% |
| Amounts receivable within one year | 40/41 | €355,664 | €287,627 | -€68,037 | -19.1% |
| Trade receivables | 40 | €355,600 | €248,653 | -€106,948 | -30.1% |
| Other amounts receivable | 41 | €63 | €38,974 | +€38,911 | +61,490% |
| Cash at bank and in hand | 54/58 | €72,972 | €43,907 | -€29,065 | -39.8% |
| Deferred charges and accrued income | 490/1 | €48,913 | €68,644 | +€19,730 | +40.3% |
| Total equity and liabilities | 10/49 | €836,315 | €1,128,274 | +€291,958 | +34.9% |
| Equity | 10/15 | €165,604 | €129,157 | -€36,447 | -22.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €89,612 | €89,612 | = | 0.0% |
| Distributable reserves | 133 | €89,612 | €89,612 | = | 0.0% |
| Profit (loss) carried forward | 14 | €57,392 | €20,946 | -€36,447 | -63.5% |
| Amounts payable | 17/49 | €670,711 | €999,116 | +€328,405 | +49.0% |
| Amounts payable after more than one year | 17 | €54,645 | €300,547 | +€245,902 | +450% |
| Financial debts | 170/4 | €54,645 | €300,547 | +€245,902 | +450% |
| Amounts payable within one year | 42/48 | €615,941 | €698,570 | +€82,629 | +13.4% |
| Current portion of amounts payable after more than one year | 42 | €26,499 | €43,657 | +€17,158 | +64.7% |
| Trade debts | 44 | €253,669 | €356,001 | +€102,333 | +40.3% |
| Suppliers | 440/4 | €253,669 | €356,001 | +€102,333 | +40.3% |
| Taxes, remuneration and social security | 45 | €104,344 | €76,053 | -€28,291 | -27.1% |
| Taxes | 450/3 | €45,137 | €4,119 | -€41,018 | -90.9% |
| Remuneration and social security | 454/9 | €59,207 | €71,934 | +€12,727 | +21.5% |
| Other amounts payable | 47/48 | €231,429 | €222,859 | -€8,570 | -3.7% |
| Accrued charges and deferred income | 492/3 | €126 | - | -€126 | |
| Remuneration, social security and pensions | 62 | €622,410 | €677,838 | +€55,429 | +8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,395 | €70,507 | +€10,112 | +16.7% |
| Other operating charges | 640/8 | €2,211 | €31,909 | +€29,698 | +1,343% |
| Gross operating margin | 9900 | €884,905 | €962,654 | +€77,749 | +8.8% |
| Operating profit (loss) | 9901 | €199,889 | €182,400 | -€17,490 | -8.7% |
| Financial income | 75/76B | €4,676 | €5,703 | +€1,027 | +22.0% |
| Recurring financial income | 75 | €4,676 | €5,703 | +€1,027 | +22.0% |
| Financial charges | 65/66B | €7,347 | €12,117 | +€4,769 | +64.9% |
| Recurring financial charges | 65 | €7,347 | €12,117 | +€4,769 | +64.9% |
| Profit (loss) for the period before taxes | 9903 | €197,218 | €175,986 | -€21,232 | -10.8% |
| Income taxes | 67/77 | €54,200 | €41,002 | -€13,198 | -24.3% |
| Profit (loss) for the period | 9904 | €143,018 | €134,983 | -€8,035 | -5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €143,018 | €134,983 | -€8,035 | -5.6% |
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 15 October 2026 via checked.be.