ORTHOVOS: 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.
ORTHOVOS
Largest movements
- Tangible fixed assets -€40,413
down €40,413 (-5.9%), from €683,994 to €643,581
of which Land and buildings: -€38,555
- Stocks and contracts -€22,194
down €22,194 (-22.9%), from €97,126 to €74,932
- Cash -€13,206
down €13,206 (-17.6%), from €74,855 to €61,649
mainly Debts after one year (-€35,176) and Net result for the year (-€27,532)
- Debts after one year -€35,176
down €35,176 (-6.4%), from €550,992 to €515,817
- Reserves -€27,532
down €27,532 (-14.4%), from €190,762 to €163,230
of which Distributable reserves: -€27,532
- Gross operating margin -€14,533
down €14,533 (-18.5%), from €78,641 to €64,109
- Write-downs +€9,537
new in 2025: €9,537
- Depreciation +€9,077
up €9,077 (+17.4%), from €52,205 to €61,282
- Other operating charges +€2,751
up €2,751 (+132%), from €2,089 to €4,840
- Taxes -€2,049
down €2,049 (-89.9%), from €2,281 to €231
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 | €898,784 | €825,006 | -€73,778 | -8.2% |
| Fixed assets | 21/28 | €685,520 | €644,945 | -€40,575 | -5.9% |
| Intangible fixed assets | 21 | €1,526 | €1,364 | -€162 | -10.6% |
| Tangible fixed assets | 22/27 | €683,994 | €643,581 | -€40,413 | -5.9% |
| Land and buildings | 22 | €671,346 | €632,791 | -€38,555 | -5.7% |
| Plant, machinery and equipment | 23 | €7,155 | €7,757 | +€601 | +8.4% |
| Furniture and vehicles | 24 | €5,493 | €3,033 | -€2,460 | -44.8% |
| Current assets | 29/58 | €213,264 | €180,062 | -€33,203 | -15.6% |
| Stocks and contracts in progress | 3 | €97,126 | €74,932 | -€22,194 | -22.9% |
| Stocks | 30/36 | €97,126 | €74,932 | -€22,194 | -22.9% |
| Amounts receivable within one year | 40/41 | €27,695 | €32,935 | +€5,240 | +18.9% |
| Trade receivables | 40 | €26,976 | €29,807 | +€2,831 | +10.5% |
| Other amounts receivable | 41 | €719 | €3,128 | +€2,409 | +335% |
| Current investments | 50/53 | €8,000 | €8,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €74,855 | €61,649 | -€13,206 | -17.6% |
| Deferred charges and accrued income | 490/1 | €5,588 | €2,546 | -€3,042 | -54.4% |
| Total equity and liabilities | 10/49 | €898,784 | €825,006 | -€73,778 | -8.2% |
| Equity | 10/15 | €210,140 | €182,608 | -€27,532 | -13.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €190,762 | €163,230 | -€27,532 | -14.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €26,402 | €26,402 | = | 0.0% |
| Distributable reserves | 133 | €162,500 | €134,968 | -€27,532 | -16.9% |
| Profit (loss) carried forward | 14 | €778 | €778 | = | 0.0% |
| Amounts payable | 17/49 | €688,644 | €642,398 | -€46,246 | -6.7% |
| Amounts payable after more than one year | 17 | €550,992 | €515,817 | -€35,176 | -6.4% |
| Financial debts | 170/4 | €550,992 | €515,817 | -€35,176 | -6.4% |
| Amounts payable within one year | 42/48 | €137,652 | €126,581 | -€11,071 | -8.0% |
| Current portion of amounts payable after more than one year | 42 | €34,483 | €35,364 | +€881 | +2.6% |
| Financial debts | 43 | €75,000 | €75,000 | = | 0.0% |
| Credit institutions | 430/8 | €75,000 | €75,000 | = | 0.0% |
| Trade debts | 44 | €16,677 | €9,413 | -€7,264 | -43.6% |
| Suppliers | 440/4 | €16,677 | €9,413 | -€7,264 | -43.6% |
| Taxes, remuneration and social security | 45 | €11,174 | €6,650 | -€4,524 | -40.5% |
| Taxes | 450/3 | €11,174 | €6,650 | -€4,524 | -40.5% |
| Other amounts payable | 47/48 | €318 | €154 | -€164 | -51.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,205 | €61,282 | +€9,077 | +17.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €9,537 | +€9,537 | |
| Other operating charges | 640/8 | €2,089 | €4,840 | +€2,751 | +132% |
| Gross operating margin | 9900 | €78,641 | €64,109 | -€14,533 | -18.5% |
| Operating profit (loss) | 9901 | €24,348 | -€11,550 | -€35,898 | |
| Financial income | 75/76B | €105 | €296 | +€191 | +181% |
| Recurring financial income | 75 | €105 | €296 | +€191 | +181% |
| Financial charges | 65/66B | €17,416 | €16,046 | -€1,370 | -7.9% |
| Recurring financial charges | 65 | €17,416 | €16,046 | -€1,370 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | €7,037 | -€27,300 | -€34,337 | |
| Income taxes | 67/77 | €2,281 | €231 | -€2,049 | -89.9% |
| Profit (loss) for the period | 9904 | €4,756 | -€27,532 | -€32,288 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,756 | -€27,532 | -€32,288 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.