ORTHOS: 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.
ORTHOS
Largest movements
- Tangible fixed assets +€508,518
up €508,518 (+25.1%), from €2.0m to €2.5m
of which Land and buildings: +€609,966
- Current investments +€223,051
new in 2025: €223,051
- Cash -€50,285
down €50,285 (-10.7%), from €468,225 to €417,940
mainly Contributions, distributions and other (-€1.0m) and Investment in fixed assets (net) (-€693,776)
- Other debts +€750,326
up €750,326 (+718.2%), from €104,473 to €854,800
- Reserves -€622,625
down €622,625 (-58.4%), from €1.1m to €443,881
- Debts after one year +€568,122
up €568,122 (+48.8%), from €1.2m to €1.7m
- Gross operating margin +€325,628
up €325,628 (+64.6%), from €504,425 to €830,052
- Taxes +€68,158
up €68,158 (+134.9%), from €50,533 to €118,691
- Staff costs +€26,908
up €26,908 (+47.8%), from €56,313 to €83,221
- Depreciation +€22,511
up €22,511 (+13.8%), from €162,936 to €185,448
- Financial charges +€19,616
up €19,616 (+44.4%), from €44,140 to €63,756
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 | €2,511,928 | €3,209,580 | +€697,652 | +27.8% |
| Fixed assets | 21/28 | €2,028,264 | €2,536,592 | +€508,328 | +25.1% |
| Tangible fixed assets | 22/27 | €2,027,854 | €2,536,372 | +€508,518 | +25.1% |
| Land and buildings | 22 | €1,544,338 | €2,154,304 | +€609,966 | +39.5% |
| Plant, machinery and equipment | 23 | €5,397 | €3,772 | -€1,626 | -30.1% |
| Furniture and vehicles | 24 | €280,632 | €213,893 | -€66,739 | -23.8% |
| Leasing and similar rights | 25 | €197,487 | €164,404 | -€33,083 | -16.8% |
| Financial fixed assets | 28 | €410 | €220 | -€190 | -46.3% |
| Current assets | 29/58 | €483,663 | €672,987 | +€189,324 | +39.1% |
| Amounts receivable within one year | 40/41 | €6,245 | €13,755 | +€7,510 | +120.3% |
| Other amounts receivable | 41 | €6,245 | €13,755 | +€7,510 | +120.3% |
| Current investments | 50/53 | - | €223,051 | +€223,051 | |
| Cash at bank and in hand | 54/58 | €468,225 | €417,940 | -€50,285 | -10.7% |
| Deferred charges and accrued income | 490/1 | €9,193 | €18,241 | +€9,047 | +98.4% |
| Total equity and liabilities | 10/49 | €2,511,928 | €3,209,580 | +€697,652 | +27.8% |
| Equity | 10/15 | €1,085,107 | €462,481 | -€622,625 | -57.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,066,507 | €443,881 | -€622,625 | -58.4% |
| Distributable reserves | 133 | €1,066,507 | €443,881 | -€622,625 | -58.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,426,821 | €2,747,098 | +€1.3m | +92.5% |
| Amounts payable after more than one year | 17 | €1,164,447 | €1,732,569 | +€568,122 | +48.8% |
| Financial debts | 170/4 | €1,164,447 | €1,732,569 | +€568,122 | +48.8% |
| Amounts payable within one year | 42/48 | €259,888 | €1,009,599 | +€749,711 | +288.5% |
| Current portion of amounts payable after more than one year | 42 | €114,549 | €118,090 | +€3,541 | +3.1% |
| Financial debts | 43 | €2,818 | €0 | -€2,818 | -100.0% |
| Credit institutions | 430/8 | €2,818 | €0 | -€2,818 | -100.0% |
| Trade debts | 44 | €29,011 | €21,503 | -€7,508 | -25.9% |
| Suppliers | 440/4 | €29,011 | €21,503 | -€7,508 | -25.9% |
| Taxes, remuneration and social security | 45 | €9,036 | €15,206 | +€6,170 | +68.3% |
| Taxes | 450/3 | €0 | €1,104 | +€1,104 | |
| Remuneration and social security | 454/9 | €9,036 | €14,103 | +€5,066 | +56.1% |
| Other amounts payable | 47/48 | €104,473 | €854,800 | +€750,326 | +718.2% |
| Accrued charges and deferred income | 492/3 | €2,485 | €4,930 | +€2,445 | +98.4% |
| Non-recurring operating income | 76A | €19,000 | €0 | -€19,000 | -100.0% |
| Remuneration, social security and pensions | 62 | €56,313 | €83,221 | +€26,908 | +47.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €162,936 | €185,448 | +€22,511 | +13.8% |
| Other operating charges | 640/8 | €21,464 | €10,647 | -€10,817 | -50.4% |
| Gross operating margin | 9900 | €504,425 | €830,052 | +€325,628 | +64.6% |
| Operating profit (loss) | 9901 | €263,711 | €550,736 | +€287,025 | +108.8% |
| Financial income | 75/76B | €5,335 | €9,085 | +€3,750 | +70.3% |
| Recurring financial income | 75 | €5,335 | €9,085 | +€3,750 | +70.3% |
| Financial charges | 65/66B | €44,140 | €63,756 | +€19,616 | +44.4% |
| Recurring financial charges | 65 | €44,140 | €63,756 | +€19,616 | +44.4% |
| Profit (loss) for the period before taxes | 9903 | €224,906 | €496,065 | +€271,159 | +120.6% |
| Income taxes | 67/77 | €50,533 | €118,691 | +€68,158 | +134.9% |
| Profit (loss) for the period | 9904 | €174,373 | €377,375 | +€203,001 | +116.4% |
| Profit (loss) for the period to be appropriated | 9905 | €174,373 | €377,375 | +€203,001 | +116.4% |
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.