ORTMANS: 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.
What changed
ORTMANS
NACE 25.110, Manufacture of metal structures and parts of structures
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€105,932
2024 · -€42,639+€148,571
Equity
€4.7m
2024 · €4.6m+€101,535
Cash
€224,663
2024 · €139,789+€84,874
Balance sheet total
€10.3m
2024 · €10.4m-€15,858
Largest movements
Assets
- Stocks and contracts +€249,339
up €249,339 (+15.4%), from €1.6m to €1.9m
- Intangible fixed assets -€124,610
down €124,610 (-31.5%), from €395,005 to €270,395
- Tangible fixed assets -€104,409
down €104,409 (-1.8%), from €5.9m to €5.8m
of which Furniture and vehicles: -€74,812
Equity and liabilities
- Short-term financial debts -€287,500
down €287,500 (-14.4%), from €2.0m to €1.7m
of which Credit institutions: -€250,000
- Other debts +€202,318
up €202,318 (+1967.3%), from €10,284 to €212,602
- Trade debts -€108,501
down €108,501 (-7.5%), from €1.4m to €1.3m
- Profit (loss) carried forward +€105,932
up €105,932 (+3.4%), from -€3.1m to -€3.0m
Income statement
- Goods and materials +€5.6m
new in 2025: €5.6m
of which Purchases: +€5.5m
- Gross operating margin -€4.2m
no longer reported in 2025 (was €4.2m)
- Turnover +€1.6m
up €1.6m (+17.4%), from €9.1m to €10.6m
- Services and other goods +€1.1m
new in 2025: €1.1m
- Other operating income +€184,460
new in 2025: €184,460
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.
Result 2024
-€42,639
Turnover
+€1.6m
Other operating income
+€184,460
Goods and materials
-€5.6m
Services and other goods
-€1.1m
Staff costs
-€10,963
Depreciation
-€65,426
Write-downs
+€2,710
Other operating charges
-€559
Other operating items
+€5.2m
Financial income
+€2,138
Financial charges
+€13,211
Taxes
-€7,349
Deferred taxes and other
-€9,649
Result 2025
€105,932
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.
From operations
+€495,590
Investment
-€179,388
Financing
-€231,328
Cash 2024
€139,789
From operations (derived)
+€495,590
Net result for the year
+€105,932
Depreciation
+€478,669
Stocks and contracts
-€249,339
Receivables within one year
+€46,757
Deferred charges and accrued income
+€4,034
Trade debts
-€108,501
Tax, wage and social debts
+€15,722
Other debts
+€202,318
Investment (derived)
-€179,388
Investment in fixed assets (net)
-€179,434
Current investments
+€46
Financing
-€231,328
Debts after one year
+€100,390
Current portion of long-term debt
-€39,822
Short-term financial debts
-€287,500
Contributions, distributions and other
-€4,396
Cash 2025
€224,663
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,357,717 | €10,341,859 | -€15,858 | -0.2% |
| Formation expenses | 20 | €512,009 | €441,793 | -€70,216 | -13.7% |
| Fixed assets | 21/28 | €6,316,556 | €6,087,538 | -€229,019 | -3.6% |
| Intangible fixed assets | 21 | €395,005 | €270,395 | -€124,610 | -31.5% |
| Tangible fixed assets | 22/27 | €5,919,052 | €5,814,642 | -€104,409 | -1.8% |
| Land and buildings | 22 | €4,970,338 | €4,996,439 | +€26,100 | +0.5% |
| Plant, machinery and equipment | 23 | €757,301 | €701,604 | -€55,698 | -7.4% |
| Furniture and vehicles | 24 | €191,412 | €116,600 | -€74,812 | -39.1% |
| Assets under construction and advance payments | 27 | - | €0 | = | |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Other financial fixed assets | 284/8 | - | €2,500 | +€2,500 | |
| Shares | 284 | - | €2,500 | +€2,500 | |
| Current assets | 29/58 | €3,529,152 | €3,812,529 | +€283,377 | +8.0% |
| Stocks and contracts in progress | 3 | €1,619,842 | €1,869,181 | +€249,339 | +15.4% |
| Stocks | 30/36 | €1,619,842 | €1,869,181 | +€249,339 | +15.4% |
| Raw materials and consumables | 30/31 | - | €1,442,877 | +€1.4m | |
| Work in progress | 32 | - | €426,304 | +€426,304 | |
| Amounts receivable within one year | 40/41 | €1,720,649 | €1,673,892 | -€46,757 | -2.7% |
| Trade receivables | 40 | €1,612,344 | €1,647,171 | +€34,827 | +2.2% |
| Other amounts receivable | 41 | €108,305 | €26,721 | -€81,584 | -75.3% |
| Current investments | 50/53 | €1,054 | €1,007 | -€46 | -4.4% |
| Other investments | 51/53 | - | €1,007 | +€1,007 | |
| Cash at bank and in hand | 54/58 | €139,789 | €224,663 | +€84,874 | +60.7% |
| Deferred charges and accrued income | 490/1 | €47,819 | €43,785 | -€4,034 | -8.4% |
| Total equity and liabilities | 10/49 | €10,357,717 | €10,341,859 | -€15,858 | -0.2% |
| Equity | 10/15 | €4,564,924 | €4,666,460 | +€101,535 | +2.2% |
| Contributions | 10/11 | €983,000 | €983,000 | = | 0.0% |
| Capital | 10 | €983,000 | €983,000 | = | 0.0% |
| Issued capital | 100 | €983,000 | €983,000 | = | 0.0% |
| Revaluation surpluses | 12 | €3,849,132 | €3,849,132 | = | 0.0% |
| Reserves | 13 | €2,726,759 | €2,726,759 | = | 0.0% |
| Non-distributable reserves | 130/1 | €98,290 | €98,290 | = | 0.0% |
| Legal reserve | 130 | €98,290 | €98,290 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,667 | €1,667 | = | 0.0% |
| Distributable reserves | 133 | €2,626,802 | €2,626,802 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,105,377 | -€2,999,445 | +€105,932 | +3.4% |
| Investment grants | 15 | €111,410 | €107,014 | -€4,396 | -3.9% |
| Provisions and deferred taxes | 16 | €31,554 | €31,554 | = | 0.0% |
| Deferred taxes | 168 | €31,554 | €31,554 | = | 0.0% |
| Amounts payable | 17/49 | €5,761,239 | €5,643,845 | -€117,394 | -2.0% |
| Amounts payable after more than one year | 17 | €1,185,981 | €1,286,371 | +€100,390 | +8.5% |
| Financial debts | 170/4 | €1,185,981 | €1,286,371 | +€100,390 | +8.5% |
| Credit institutions | 173 | - | €537,371 | +€537,371 | |
| Other loans | 174 | - | €749,000 | +€749,000 | |
| Amounts payable within one year | 42/48 | €4,575,258 | €4,357,474 | -€217,784 | -4.8% |
| Current portion of amounts payable after more than one year | 42 | €556,336 | €516,514 | -€39,822 | -7.2% |
| Financial debts | 43 | €2,000,000 | €1,712,500 | -€287,500 | -14.4% |
| Credit institutions | 430/8 | €1,850,000 | €1,600,000 | -€250,000 | -13.5% |
| Other loans | 439 | €150,000 | €112,500 | -€37,500 | -25.0% |
| Trade debts | 44 | €1,442,109 | €1,333,608 | -€108,501 | -7.5% |
| Suppliers | 440/4 | €1,442,109 | €1,333,608 | -€108,501 | -7.5% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €566,528 | €582,250 | +€15,722 | +2.8% |
| Taxes | 450/3 | €84,579 | €86,362 | +€1,783 | +2.1% |
| Remuneration and social security | 454/9 | €481,950 | €495,888 | +€13,939 | +2.9% |
| Other amounts payable | 47/48 | €10,284 | €212,602 | +€202,318 | +1967.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Operating income | 70/76A | - | €11,179,586 | +€11.2m | |
| Turnover | 70 | €9,062,728 | €10,637,380 | +€1.6m | +17.4% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | - | €357,747 | +€357,747 | |
| Other operating income | 74 | - | €184,460 | +€184,460 | |
| Operating charges | 60/66A | - | €10,873,059 | +€10.9m | |
| Goods, raw materials, services and sundry goods | 60/61 | €5,129,404 | - | -€5.1m | |
| Goods for resale, raw materials and consumables | 60 | - | €5,595,317 | +€5.6m | |
| Purchases | 600/8 | - | €5,486,909 | +€5.5m | |
| Change in stocks: decrease (increase) | 609 | - | €108,408 | +€108,408 | |
| Services and other goods | 61 | - | €1,138,405 | +€1.1m | |
| Remuneration, social security and pensions | 62 | €3,560,139 | €3,571,102 | +€10,963 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €413,243 | €478,669 | +€65,426 | +15.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,710 | - | -€2,710 | |
| Other operating charges | 640/8 | €89,008 | €89,567 | +€559 | +0.6% |
| Gross operating margin | 9900 | €4,221,408 | - | -€4.2m | |
| Operating profit (loss) | 9901 | €156,308 | €306,527 | +€150,220 | +96.1% |
| Financial income | 75/76B | €4,430 | €6,569 | +€2,138 | +48.3% |
| Recurring financial income | 75 | €4,430 | €6,569 | +€2,138 | +48.3% |
| Income from current assets | 751 | - | €15 | +€15 | |
| Other financial income | 752/9 | - | €6,554 | +€6,554 | |
| Financial charges | 65/66B | €212,947 | €199,736 | -€13,211 | -6.2% |
| Recurring financial charges | 65 | €212,947 | €199,736 | -€13,211 | -6.2% |
| Debt charges | 650 | - | €133,435 | +€133,435 | |
| Other financial charges | 652/9 | - | €66,301 | +€66,301 | |
| Profit (loss) for the period before taxes | 9903 | -€52,209 | €113,360 | +€165,569 | |
| Transfer from deferred taxes | 780 | €9,649 | - | -€9,649 | |
| Income taxes | 67/77 | €79 | €7,428 | +€7,349 | +9288.6% |
| Taxes | 670/3 | - | €7,428 | +€7,428 | |
| Profit (loss) for the period | 9904 | -€42,639 | €105,932 | +€148,571 | |
| Profit (loss) for the period to be appropriated | 9905 | -€42,639 | €105,932 | +€148,571 |
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.