ORTHOXHE: 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.
ORTHOXHE
Largest movements
- Cash +€9,888
up €9,888 (+18.3%), from €54,074 to €63,962
mainly Net result for the year (+€26,572) and Depreciation (+€16,619)
- Tangible fixed assets -€8,520
down €8,520 (-1.2%), from €708,596 to €700,076
of which Land and buildings: -€8,965
- Reserves +€26,572
up €26,572 (+5.8%), from €456,073 to €482,645
of which Distributable reserves: +€26,572
- Current portion of long-term debt -€17,840
down €17,840 (-52.1%), from €34,229 to €16,389
- Debts after one year -€14,927
down €14,927 (-13.6%), from €110,127 to €95,200
- Depreciation +€12,560
up €12,560 (+309.4%), from €4,059 to €16,619
- Taxes -€4,387
down €4,387 (-28.3%), from €15,491 to €11,104
- Staff costs +€3,024
up €3,024 (+9.3%), from €32,470 to €35,494
- Gross operating margin -€1,541
down €1,541 (-1.6%), from €97,946 to €96,405
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 | €808,607 | €798,792 | -€9,815 | -1.2% |
| Fixed assets | 21/28 | €708,596 | €700,076 | -€8,520 | -1.2% |
| Tangible fixed assets | 22/27 | €708,596 | €700,076 | -€8,520 | -1.2% |
| Land and buildings | 22 | €707,868 | €698,903 | -€8,965 | -1.3% |
| Plant, machinery and equipment | 23 | €728 | €1,173 | +€445 | +61.1% |
| Current assets | 29/58 | €100,011 | €98,716 | -€1,295 | -1.3% |
| Amounts receivable within one year | 40/41 | €41,572 | €34,754 | -€6,818 | -16.4% |
| Other amounts receivable | 41 | €41,572 | €34,754 | -€6,818 | -16.4% |
| Cash at bank and in hand | 54/58 | €54,074 | €63,962 | +€9,888 | +18.3% |
| Deferred charges and accrued income | 490/1 | €4,365 | - | -€4,365 | |
| Total equity and liabilities | 10/49 | €808,607 | €798,792 | -€9,815 | -1.2% |
| Equity | 10/15 | €608,873 | €635,445 | +€26,572 | +4.4% |
| Contributions | 10/11 | €152,800 | €152,800 | = | 0.0% |
| Outside capital | 11 | €152,800 | €152,800 | = | 0.0% |
| Other | 1109/19 | €152,800 | €152,800 | = | 0.0% |
| Reserves | 13 | €456,073 | €482,645 | +€26,572 | +5.8% |
| Non-distributable reserves | 130/1 | €15,280 | €15,280 | = | 0.0% |
| Legal reserve | 130 | €15,280 | €15,280 | = | 0.0% |
| Distributable reserves | 133 | €440,793 | €467,365 | +€26,572 | +6.0% |
| Amounts payable | 17/49 | €199,734 | €163,347 | -€36,387 | -18.2% |
| Amounts payable after more than one year | 17 | €110,127 | €95,200 | -€14,927 | -13.6% |
| Financial debts | 170/4 | €110,127 | €95,200 | -€14,927 | -13.6% |
| Amounts payable within one year | 42/48 | €89,607 | €68,147 | -€21,460 | -23.9% |
| Current portion of amounts payable after more than one year | 42 | €34,229 | €16,389 | -€17,840 | -52.1% |
| Trade debts | 44 | €2,261 | €905 | -€1,356 | -60.0% |
| Suppliers | 440/4 | €2,261 | €905 | -€1,356 | -60.0% |
| Taxes, remuneration and social security | 45 | €10,540 | €10,977 | +€437 | +4.1% |
| Remuneration and social security | 454/9 | €10,540 | €10,977 | +€437 | +4.1% |
| Other amounts payable | 47/48 | €42,577 | €39,876 | -€2,701 | -6.3% |
| Remuneration, social security and pensions | 62 | €32,470 | €35,494 | +€3,024 | +9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,059 | €16,619 | +€12,560 | +309.4% |
| Other operating charges | 640/8 | €4,186 | €4,332 | +€146 | +3.5% |
| Gross operating margin | 9900 | €97,946 | €96,405 | -€1,541 | -1.6% |
| Operating profit (loss) | 9901 | €57,231 | €39,960 | -€17,271 | -30.2% |
| Financial income | 75/76B | €233 | €443 | +€210 | +90.1% |
| Recurring financial income | 75 | €233 | €443 | +€210 | +90.1% |
| Financial charges | 65/66B | €2,756 | €2,727 | -€29 | -1.1% |
| Recurring financial charges | 65 | €2,756 | €2,727 | -€29 | -1.1% |
| Profit (loss) for the period before taxes | 9903 | €54,708 | €37,676 | -€17,032 | -31.1% |
| Income taxes | 67/77 | €15,491 | €11,104 | -€4,387 | -28.3% |
| Profit (loss) for the period | 9904 | €39,217 | €26,572 | -€12,645 | -32.2% |
| Profit (loss) for the period to be appropriated | 9905 | €39,217 | €26,572 | -€12,645 | -32.2% |
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 6 October 2026 via checked.be.