ORTHOWATT: 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.
ORTHOWATT
Largest movements
- Cash +€157,059
up €157,059 (+126%), from €124,337 to €281,396
mainly Net result for the year (+€145,828) and Receivables within one year (+€41,167)
- Receivables within one year -€41,167
down €41,167 (-56.2%), from €73,314 to €32,146
of which Trade receivables: -€43,584
- Tangible fixed assets +€27,570
up €27,570 (+41.7%), from €66,133 to €93,702
of which Land and buildings: +€32,361
- Reserves +€95,800
up €95,800 (+52.3%), from €183,000 to €278,800
- Other debts +€33,469
up €33,469 (+512%), from €6,531 to €40,000
- Tax, wage and social debts +€15,312
up €15,312 (+30.2%), from €50,705 to €66,017
- Gross operating margin +€38,077
up €38,077 (+21.5%), from €177,091 to €215,168
- Taxes +€7,678
up €7,678 (+15.9%), from €48,339 to €56,017
- Depreciation +€3,360
up €3,360 (+38.4%), from €8,758 to €12,118
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 | €264,541 | €407,748 | +€143,207 | +54.1% |
| Formation expenses | 20 | €513 | €342 | -€171 | -33.3% |
| Fixed assets | 21/28 | €66,133 | €93,702 | +€27,570 | +41.7% |
| Tangible fixed assets | 22/27 | €66,133 | €93,702 | +€27,570 | +41.7% |
| Land and buildings | 22 | €45,980 | €78,341 | +€32,361 | +70.4% |
| Plant, machinery and equipment | 23 | €17,723 | €12,112 | -€5,610 | -31.7% |
| Furniture and vehicles | 24 | €2,430 | €3,249 | +€818 | +33.7% |
| Current assets | 29/58 | €197,895 | €313,703 | +€115,808 | +58.5% |
| Amounts receivable within one year | 40/41 | €73,314 | €32,146 | -€41,167 | -56.2% |
| Trade receivables | 40 | €73,064 | €29,480 | -€43,584 | -59.7% |
| Other amounts receivable | 41 | €250 | €2,667 | +€2,417 | +967% |
| Cash at bank and in hand | 54/58 | €124,337 | €281,396 | +€157,059 | +126% |
| Deferred charges and accrued income | 490/1 | €244 | €161 | -€84 | -34.2% |
| Total equity and liabilities | 10/49 | €264,541 | €407,748 | +€143,207 | +54.1% |
| Equity | 10/15 | €198,423 | €294,251 | +€95,828 | +48.3% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €183,000 | €278,800 | +€95,800 | +52.3% |
| Distributable reserves | 133 | €183,000 | €278,800 | +€95,800 | +52.3% |
| Profit (loss) carried forward | 14 | €423 | €451 | +€28 | +6.6% |
| Amounts payable | 17/49 | €66,118 | €113,497 | +€47,379 | +71.7% |
| Amounts payable within one year | 42/48 | €66,118 | €113,497 | +€47,379 | +71.7% |
| Trade debts | 44 | €8,882 | €7,480 | -€1,402 | -15.8% |
| Suppliers | 440/4 | €8,882 | €7,480 | -€1,402 | -15.8% |
| Taxes, remuneration and social security | 45 | €50,705 | €66,017 | +€15,312 | +30.2% |
| Taxes | 450/3 | €50,705 | €66,017 | +€15,312 | +30.2% |
| Other amounts payable | 47/48 | €6,531 | €40,000 | +€33,469 | +512% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,758 | €12,118 | +€3,360 | +38.4% |
| Other operating charges | 640/8 | €311 | €1,082 | +€771 | +248% |
| Non-recurring operating charges | 66A | €9,573 | - | -€9,573 | |
| Gross operating margin | 9900 | €177,091 | €215,168 | +€38,077 | +21.5% |
| Operating profit (loss) | 9901 | €158,449 | €201,967 | +€43,518 | +27.5% |
| Financial income | 75/76B | €0 | €1 | +€1 | +3,375% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +3,375% |
| Financial charges | 65/66B | €110 | €124 | +€14 | +12.9% |
| Recurring financial charges | 65 | €110 | €124 | +€14 | +12.9% |
| Profit (loss) for the period before taxes | 9903 | €158,339 | €201,845 | +€43,506 | +27.5% |
| Income taxes | 67/77 | €48,339 | €56,017 | +€7,678 | +15.9% |
| Profit (loss) for the period | 9904 | €110,000 | €145,828 | +€35,828 | +32.6% |
| Profit (loss) for the period to be appropriated | 9905 | €110,000 | €145,828 | +€35,828 | +32.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.