ORTIMAX: 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.
ORTIMAX
Largest movements
- Receivables after one year -€70,000
down €70,000 (-50.7%), from €138,000 to €68,000
- Tangible fixed assets +€26,678
up €26,678 (+10.3%), from €257,786 to €284,464
of which Furniture and vehicles: +€28,827
- Cash +€10,736
up €10,736 (+21.0%), from €51,161 to €61,896
mainly Receivables after one year (+€70,000) and Other debts (+€62,172)
- Receivables within one year +€6,775
up €6,775 (+51.4%), from €13,183 to €19,957
of which Trade receivables: +€8,127
- Deferred charges and accrued income -€5,634
down €5,634 (-64.1%), from €8,795 to €3,161
- Reserves -€138,821
down €138,821 (-34.3%), from €404,189 to €265,367
of which Distributable reserves: -€138,821
- Other debts +€62,172
up €62,172 (+2280.2%), from €2,727 to €64,899
- Debts after one year +€31,149
up €31,149 (+373.8%), from €8,333 to €39,483
- Current portion of long-term debt +€11,179
up €11,179 (+167.7%), from €6,667 to €17,845
- Tax, wage and social debts +€5,774
up €5,774 (+258.0%), from €2,238 to €8,012
of which Remuneration and social security: +€2,915
- Gross operating margin +€55,494
up €55,494 (+48.8%), from €113,678 to €169,172
- Depreciation +€14,589
up €14,589 (+42.1%), from €34,650 to €49,239
- Staff costs +€13,667
up €13,667 (+27.8%), from €49,170 to €62,837
- Taxes +€8,616
up €8,616 (+100.8%), from €8,544 to €17,161
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 | €473,326 | €440,754 | -€32,572 | -6.9% |
| Fixed assets | 21/28 | €262,188 | €287,740 | +€25,552 | +9.7% |
| Intangible fixed assets | 21 | €4,402 | €3,276 | -€1,126 | -25.6% |
| Tangible fixed assets | 22/27 | €257,786 | €284,464 | +€26,678 | +10.3% |
| Plant, machinery and equipment | 23 | €1,560 | €1,320 | -€240 | -15.4% |
| Furniture and vehicles | 24 | €181,264 | €210,091 | +€28,827 | +15.9% |
| Other tangible fixed assets | 26 | €74,962 | €73,053 | -€1,909 | -2.5% |
| Current assets | 29/58 | €211,138 | €153,015 | -€58,124 | -27.5% |
| Amounts receivable after more than one year | 29 | €138,000 | €68,000 | -€70,000 | -50.7% |
| Other amounts receivable | 291 | €138,000 | €68,000 | -€70,000 | -50.7% |
| Amounts receivable within one year | 40/41 | €13,183 | €19,957 | +€6,775 | +51.4% |
| Trade receivables | 40 | - | €8,127 | +€8,127 | |
| Other amounts receivable | 41 | €13,183 | €11,830 | -€1,352 | -10.3% |
| Cash at bank and in hand | 54/58 | €51,161 | €61,896 | +€10,736 | +21.0% |
| Deferred charges and accrued income | 490/1 | €8,795 | €3,161 | -€5,634 | -64.1% |
| Total equity and liabilities | 10/49 | €473,326 | €440,754 | -€32,572 | -6.9% |
| Equity | 10/15 | €416,589 | €277,767 | -€138,821 | -33.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €404,189 | €265,367 | -€138,821 | -34.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €402,329 | €263,507 | -€138,821 | -34.5% |
| Amounts payable | 17/49 | €56,737 | €162,987 | +€106,250 | +187.3% |
| Amounts payable after more than one year | 17 | €8,333 | €39,483 | +€31,149 | +373.8% |
| Financial debts | 170/4 | €8,333 | €39,483 | +€31,149 | +373.8% |
| Amounts payable within one year | 42/48 | €48,404 | €123,504 | +€75,100 | +155.2% |
| Current portion of amounts payable after more than one year | 42 | €6,667 | €17,845 | +€11,179 | +167.7% |
| Trade debts | 44 | €36,773 | €32,748 | -€4,025 | -10.9% |
| Suppliers | 440/4 | €36,773 | €32,748 | -€4,025 | -10.9% |
| Taxes, remuneration and social security | 45 | €2,238 | €8,012 | +€5,774 | +258.0% |
| Taxes | 450/3 | - | €2,859 | +€2,859 | |
| Remuneration and social security | 454/9 | €2,238 | €5,152 | +€2,915 | +130.3% |
| Other amounts payable | 47/48 | €2,727 | €64,899 | +€62,172 | +2280.2% |
| Non-recurring operating income | 76A | €10 | €22,146 | +€22,136 | +216381.3% |
| Remuneration, social security and pensions | 62 | €49,170 | €62,837 | +€13,667 | +27.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,650 | €49,239 | +€14,589 | +42.1% |
| Other operating charges | 640/8 | €4,912 | €4,408 | -€505 | -10.3% |
| Non-recurring operating charges | 66A | €60 | €0 | -€60 | -99.8% |
| Gross operating margin | 9900 | €113,678 | €169,172 | +€55,494 | +48.8% |
| Operating profit (loss) | 9901 | €24,886 | €52,689 | +€27,803 | +111.7% |
| Financial income | 75/76B | €1,189 | €948 | -€241 | -20.2% |
| Recurring financial income | 75 | €1,189 | €948 | -€241 | -20.2% |
| Financial charges | 65/66B | €1,883 | €3,399 | +€1,517 | +80.6% |
| Recurring financial charges | 65 | €1,883 | €3,399 | +€1,517 | +80.6% |
| Profit (loss) for the period before taxes | 9903 | €24,192 | €50,238 | +€26,046 | +107.7% |
| Income taxes | 67/77 | €8,544 | €17,161 | +€8,616 | +100.8% |
| Profit (loss) for the period | 9904 | €15,648 | €33,078 | +€17,430 | +111.4% |
| Profit (loss) for the period to be appropriated | 9905 | €15,648 | €33,078 | +€17,430 | +111.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.