ORTHUS: 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.
ORTHUS
Largest movements
- Cash -€30,468
down €30,468 (-27.9%), from €109,091 to €78,623
mainly Debts after one year (-€17,968) and Receivables within one year (-€15,839)
- Receivables within one year +€15,839
up €15,839 (+14.0%), from €112,735 to €128,574
of which Trade receivables: +€11,744
- Tangible fixed assets -€9,075
down €9,075 (-4.7%), from €193,602 to €184,527
of which Land and buildings: -€5,440
- Debts after one year -€17,968
down €17,968 (-18.5%), from €96,864 to €78,896
- Gross operating margin -€24,413
down €24,413 (-43.9%), from €55,657 to €31,244
- Other operating charges -€11,896
down €11,896 (-96.8%), from €12,289 to €393
- Financial charges -€5,743
down €5,743 (-26.4%), from €21,790 to €16,047
- Depreciation -€1,398
down €1,398 (-8.5%), from €16,393 to €14,995
- Taxes -€1,101
down €1,101 (-95.1%), from €1,158 to €57
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 | €597,805 | €579,724 | -€18,081 | -3.0% |
| Fixed assets | 21/28 | €193,782 | €184,707 | -€9,075 | -4.7% |
| Tangible fixed assets | 22/27 | €193,602 | €184,527 | -€9,075 | -4.7% |
| Land and buildings | 22 | €181,393 | €175,953 | -€5,440 | -3.0% |
| Plant, machinery and equipment | 23 | €11,129 | €8,398 | -€2,731 | -24.5% |
| Furniture and vehicles | 24 | €1,080 | €176 | -€904 | -83.7% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €404,023 | €395,017 | -€9,006 | -2.2% |
| Stocks and contracts in progress | 3 | €182,197 | €187,820 | +€5,623 | +3.1% |
| Stocks | 30/36 | €182,197 | €187,820 | +€5,623 | +3.1% |
| Amounts receivable within one year | 40/41 | €112,735 | €128,574 | +€15,839 | +14.0% |
| Trade receivables | 40 | €49,319 | €61,063 | +€11,744 | +23.8% |
| Other amounts receivable | 41 | €63,416 | €67,511 | +€4,095 | +6.5% |
| Cash at bank and in hand | 54/58 | €109,091 | €78,623 | -€30,468 | -27.9% |
| Total equity and liabilities | 10/49 | €597,805 | €579,724 | -€18,081 | -3.0% |
| Equity | 10/15 | €139,194 | €139,263 | +€69 | 0.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | - | €12,400 | +€12,400 | |
| Issued capital | 100 | - | €12,400 | +€12,400 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €124,934 | €125,003 | +€69 | +0.1% |
| Provisions and deferred taxes | 16 | €57,994 | €57,994 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €57,994 | €57,994 | = | 0.0% |
| Pensions and similar obligations | 160 | €57,994 | €57,994 | = | 0.0% |
| Amounts payable | 17/49 | €400,617 | €382,467 | -€18,150 | -4.5% |
| Amounts payable after more than one year | 17 | €96,864 | €78,896 | -€17,968 | -18.5% |
| Financial debts | 170/4 | €96,864 | €78,896 | -€17,968 | -18.5% |
| Amounts payable within one year | 42/48 | €303,753 | €303,571 | -€182 | -0.1% |
| Current portion of amounts payable after more than one year | 42 | €17,466 | €17,970 | +€504 | +2.9% |
| Financial debts | 43 | €275,000 | €275,000 | = | 0.0% |
| Credit institutions | 430/8 | €275,000 | €275,000 | = | 0.0% |
| Trade debts | 44 | €4,353 | €686 | -€3,667 | -84.2% |
| Suppliers | 440/4 | €4,353 | €686 | -€3,667 | -84.2% |
| Taxes, remuneration and social security | 45 | €1,158 | €1,215 | +€57 | +4.9% |
| Taxes | 450/3 | €1,158 | €1,215 | +€57 | +4.9% |
| Other amounts payable | 47/48 | €5,776 | €8,700 | +€2,924 | +50.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,393 | €14,995 | -€1,398 | -8.5% |
| Other operating charges | 640/8 | €12,289 | €393 | -€11,896 | -96.8% |
| Gross operating margin | 9900 | €55,657 | €31,244 | -€24,413 | -43.9% |
| Operating profit (loss) | 9901 | €26,975 | €15,856 | -€11,119 | -41.2% |
| Financial income | 75/76B | - | €318 | +€318 | |
| Recurring financial income | 75 | - | €318 | +€318 | |
| Financial charges | 65/66B | €21,790 | €16,047 | -€5,743 | -26.4% |
| Recurring financial charges | 65 | €21,790 | €16,047 | -€5,743 | -26.4% |
| Profit (loss) for the period before taxes | 9903 | €5,185 | €127 | -€5,058 | -97.6% |
| Income taxes | 67/77 | €1,158 | €57 | -€1,101 | -95.1% |
| Profit (loss) for the period | 9904 | €4,027 | €70 | -€3,957 | -98.3% |
| Profit (loss) for the period to be appropriated | 9905 | €4,027 | €70 | -€3,957 | -98.3% |
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 5 October 2026 via checked.be.