UPDATE ORTHOPAEDICS: 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.
UPDATE ORTHOPAEDICS
Largest movements
- Receivables within one year +€20,595
up €20,595 (+150%), from €13,694 to €34,288
of which Trade receivables: +€34,288
- Cash +€17,202
up €17,202 (+37.7%), from €45,646 to €62,848
mainly Depreciation (+€36,331) and Other debts (+€31,778)
- Tangible fixed assets -€11,328
down €11,328 (-3.3%), from €340,173 to €328,844
of which Furniture and vehicles: -€29,908
- Other debts +€31,778
new in 2025: €31,778
- Advances received +€24,200
new in 2025: €24,200
- Debts after one year -€23,394
down €23,394 (-26.0%), from €90,109 to €66,715
- Tax, wage and social debts -€13,434
down €13,434 (-38.6%), from €34,804 to €21,370
- Reserves +€12,899
up €12,899 (+4.5%), from €285,602 to €298,501
of which Distributable reserves: +€12,899
- Gross operating margin -€128,781
down €128,781, from €120,170 to -€8,611
- Financial income +€72,443
up €72,443 (+4,122%), from €1,757 to €74,200
- Taxes -€26,606
down €26,606 (-83.8%), from €31,739 to €5,134
- Depreciation +€18,710
up €18,710 (+106%), from €17,621 to €36,331
- Financial charges +€1,733
up €1,733 (+63.9%), from €2,711 to €4,444
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 | €507,031 | €533,887 | +€26,856 | +5.3% |
| Fixed assets | 21/28 | €434,866 | €423,538 | -€11,328 | -2.6% |
| Tangible fixed assets | 22/27 | €340,173 | €328,844 | -€11,328 | -3.3% |
| Land and buildings | 22 | €182,360 | €200,940 | +€18,579 | +10.2% |
| Furniture and vehicles | 24 | €157,812 | €127,905 | -€29,908 | -19.0% |
| Financial fixed assets | 28 | €94,693 | €94,693 | = | 0.0% |
| Current assets | 29/58 | €72,165 | €110,349 | +€38,184 | +52.9% |
| Amounts receivable within one year | 40/41 | €13,694 | €34,288 | +€20,595 | +150% |
| Trade receivables | 40 | - | €34,288 | +€34,288 | |
| Other amounts receivable | 41 | €13,694 | - | -€13,694 | |
| Cash at bank and in hand | 54/58 | €45,646 | €62,848 | +€17,202 | +37.7% |
| Deferred charges and accrued income | 490/1 | €12,825 | €13,213 | +€388 | +3.0% |
| Total equity and liabilities | 10/49 | €507,031 | €533,887 | +€26,856 | +5.3% |
| Equity | 10/15 | €348,102 | €361,001 | +€12,899 | +3.7% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €285,602 | €298,501 | +€12,899 | +4.5% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,250 | €6,250 | = | 0.0% |
| Distributable reserves | 133 | €279,352 | €292,251 | +€12,899 | +4.6% |
| Amounts payable | 17/49 | €158,929 | €172,886 | +€13,957 | +8.8% |
| Amounts payable after more than one year | 17 | €90,109 | €66,715 | -€23,394 | -26.0% |
| Financial debts | 170/4 | €90,109 | €66,715 | -€23,394 | -26.0% |
| Amounts payable within one year | 42/48 | €68,820 | €106,172 | +€37,352 | +54.3% |
| Current portion of amounts payable after more than one year | 42 | €22,557 | €23,394 | +€837 | +3.7% |
| Trade debts | 44 | €11,459 | €5,429 | -€6,030 | -52.6% |
| Suppliers | 440/4 | €11,459 | €5,429 | -€6,030 | -52.6% |
| Advances received on contracts in progress | 46 | - | €24,200 | +€24,200 | |
| Taxes, remuneration and social security | 45 | €34,804 | €21,370 | -€13,434 | -38.6% |
| Taxes | 450/3 | €34,804 | €21,370 | -€13,434 | -38.6% |
| Other amounts payable | 47/48 | - | €31,778 | +€31,778 | |
| Non-recurring operating income | 76A | €27,064 | - | -€27,064 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,621 | €36,331 | +€18,710 | +106% |
| Other operating charges | 640/8 | €8,202 | €6,782 | -€1,420 | -17.3% |
| Gross operating margin | 9900 | €120,170 | -€8,611 | -€128,781 | |
| Operating profit (loss) | 9901 | €94,348 | -€51,724 | -€146,071 | |
| Financial income | 75/76B | €1,757 | €74,200 | +€72,443 | +4,122% |
| Recurring financial income | 75 | €1,757 | €74,200 | +€72,443 | +4,122% |
| Financial charges | 65/66B | €2,711 | €4,444 | +€1,733 | +63.9% |
| Recurring financial charges | 65 | €2,711 | €4,444 | +€1,733 | +63.9% |
| Profit (loss) for the period before taxes | 9903 | €93,394 | €18,033 | -€75,362 | -80.7% |
| Income taxes | 67/77 | €31,739 | €5,134 | -€26,606 | -83.8% |
| Profit (loss) for the period | 9904 | €61,655 | €12,899 | -€48,756 | -79.1% |
| Profit (loss) for the period to be appropriated | 9905 | €61,655 | €12,899 | -€48,756 | -79.1% |
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 13 October 2026 via checked.be.