SB ORTHO: 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.
SB ORTHO
Largest movements
- Cash -€79,414
down €79,414 (-24.0%), from €330,963 to €251,549
mainly Contributions, distributions and other (-€400,797) and Investment in fixed assets (net) (-€46,841)
- Tangible fixed assets -€15,157
down €15,157 (-7.3%), from €208,219 to €193,062
of which Plant, machinery and equipment: -€15,283
- Receivables within one year +€6,407
up €6,407 (+23.8%), from €26,878 to €33,284
of which Other amounts receivable: +€4,218
- Profit (loss) carried forward -€34,620
no longer reported in 2025 (was €34,620)
- Debts after one year -€25,245
down €25,245 (-83.5%), from €30,230 to €4,985
- Other debts -€14,655
down €14,655 (-3.5%), from €416,873 to €402,217
- Trade debts -€9,086
down €9,086 (-33.3%), from €27,249 to €18,163
- Current portion of long-term debt -€8,555
down €8,555 (-30.4%), from €28,172 to €19,617
- Gross operating margin -€63,049
down €63,049 (-7.8%), from €803,825 to €740,775
- Staff costs -€24,155
down €24,155 (-11.5%), from €209,252 to €185,096
- Taxes -€11,233
down €11,233 (-8.5%), from €132,252 to €121,018
- Depreciation +€10,780
up €10,780 (+20.8%), from €51,787 to €62,566
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 | €594,324 | €507,097 | -€87,227 | -14.7% |
| Fixed assets | 21/28 | €208,788 | €193,062 | -€15,725 | -7.5% |
| Intangible fixed assets | 21 | €568 | - | -€568 | |
| Tangible fixed assets | 22/27 | €208,219 | €193,062 | -€15,157 | -7.3% |
| Plant, machinery and equipment | 23 | €71,566 | €56,283 | -€15,283 | -21.4% |
| Furniture and vehicles | 24 | €9,311 | €19,333 | +€10,021 | +108% |
| Other tangible fixed assets | 26 | €127,342 | €117,447 | -€9,895 | -7.8% |
| Current assets | 29/58 | €385,536 | €314,034 | -€71,502 | -18.5% |
| Stocks and contracts in progress | 3 | €15,545 | €13,740 | -€1,805 | -11.6% |
| Stocks | 30/36 | €15,545 | €13,740 | -€1,805 | -11.6% |
| Amounts receivable within one year | 40/41 | €26,878 | €33,284 | +€6,407 | +23.8% |
| Trade receivables | 40 | - | €2,188 | +€2,188 | |
| Other amounts receivable | 41 | €26,878 | €31,096 | +€4,218 | +15.7% |
| Cash at bank and in hand | 54/58 | €330,963 | €251,549 | -€79,414 | -24.0% |
| Deferred charges and accrued income | 490/1 | €12,151 | €15,461 | +€3,310 | +27.2% |
| Total equity and liabilities | 10/49 | €594,324 | €507,097 | -€87,227 | -14.7% |
| Equity | 10/15 | €56,256 | €20,405 | -€35,851 | -63.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €3,086 | €1,855 | -€1,231 | -39.9% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,231 | - | -€1,231 | |
| Profit (loss) carried forward | 14 | €34,620 | - | -€34,620 | |
| Amounts payable | 17/49 | €538,068 | €486,692 | -€51,377 | -9.5% |
| Amounts payable after more than one year | 17 | €30,230 | €4,985 | -€25,245 | -83.5% |
| Financial debts | 170/4 | €30,230 | €4,985 | -€25,245 | -83.5% |
| Amounts payable within one year | 42/48 | €507,838 | €481,707 | -€26,132 | -5.1% |
| Current portion of amounts payable after more than one year | 42 | €28,172 | €19,617 | -€8,555 | -30.4% |
| Trade debts | 44 | €27,249 | €18,163 | -€9,086 | -33.3% |
| Suppliers | 440/4 | €27,249 | €18,163 | -€9,086 | -33.3% |
| Taxes, remuneration and social security | 45 | €35,545 | €41,709 | +€6,164 | +17.3% |
| Taxes | 450/3 | €13,580 | €22,953 | +€9,373 | +69.0% |
| Remuneration and social security | 454/9 | €21,965 | €18,756 | -€3,209 | -14.6% |
| Other amounts payable | 47/48 | €416,873 | €402,217 | -€14,655 | -3.5% |
| Remuneration, social security and pensions | 62 | €209,252 | €185,096 | -€24,155 | -11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,787 | €62,566 | +€10,780 | +20.8% |
| Other operating charges | 640/8 | €2,297 | €2,261 | -€36 | -1.6% |
| Gross operating margin | 9900 | €803,825 | €740,775 | -€63,049 | -7.8% |
| Operating profit (loss) | 9901 | €540,489 | €490,852 | -€49,637 | -9.2% |
| Financial income | 75/76B | €711 | €1,435 | +€725 | +102% |
| Recurring financial income | 75 | €711 | €1,435 | +€725 | +102% |
| Financial charges | 65/66B | €8,039 | €6,323 | -€1,717 | -21.4% |
| Recurring financial charges | 65 | €8,039 | €6,323 | -€1,717 | -21.4% |
| Profit (loss) for the period before taxes | 9903 | €533,161 | €485,965 | -€47,196 | -8.9% |
| Income taxes | 67/77 | €132,252 | €121,018 | -€11,233 | -8.5% |
| Profit (loss) for the period | 9904 | €400,909 | €364,946 | -€35,963 | -9.0% |
| Profit (loss) for the period to be appropriated | 9905 | €400,909 | €364,946 | -€35,963 | -9.0% |
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 26 October 2026 via checked.be.