AHORN: 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.
AHORN
Largest movements
- Cash -€216,256
down €216,256 (-90.6%), from €238,613 to €22,357
mainly Debts after one year (-€107,000) and Investment in fixed assets (net) (-€65,639)
- Receivables after one year +€61,045
new in 2025: €61,045
- Financial fixed assets +€57,998
up €57,998 (+3.5%), from €1.7m to €1.7m
- Receivables within one year +€44,844
up €44,844 (+5.8%), from €777,418 to €822,261
of which Other amounts receivable: +€44,214
- Debts after one year -€107,000
down €107,000 (-1.8%), from €5.9m to €5.8m
- Other debts +€64,487
up €64,487 (+127.5%), from €50,595 to €115,082
- Gross operating margin -€540,664
down €540,664, from €528,600 to -€12,064
- Financial income +€316,333
up €316,333 (+1425.0%), from €22,199 to €338,532
of which Non-recurring financial income: +€300,000
- Depreciation +€15,387
up €15,387 (+349.3%), from €4,405 to €19,792
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 | €2,782,559 | €2,717,359 | -€65,200 | -2.3% |
| Fixed assets | 21/28 | €1,764,211 | €1,810,058 | +€45,847 | +2.6% |
| Tangible fixed assets | 22/27 | €87,081 | €74,930 | -€12,151 | -14.0% |
| Furniture and vehicles | 24 | €87,081 | €74,930 | -€12,151 | -14.0% |
| Financial fixed assets | 28 | €1,677,130 | €1,735,128 | +€57,998 | +3.5% |
| Current assets | 29/58 | €1,018,348 | €907,301 | -€111,047 | -10.9% |
| Amounts receivable after more than one year | 29 | - | €61,045 | +€61,045 | |
| Trade receivables | 290 | - | €61,045 | +€61,045 | |
| Amounts receivable within one year | 40/41 | €777,418 | €822,261 | +€44,844 | +5.8% |
| Trade receivables | 40 | €3,000 | €3,630 | +€630 | +21.0% |
| Other amounts receivable | 41 | €774,418 | €818,631 | +€44,214 | +5.7% |
| Cash at bank and in hand | 54/58 | €238,613 | €22,357 | -€216,256 | -90.6% |
| Deferred charges and accrued income | 490/1 | €2,318 | €1,638 | -€680 | -29.3% |
| Total equity and liabilities | 10/49 | €2,782,559 | €2,717,359 | -€65,200 | -2.3% |
| Equity | 10/15 | -€3,182,880 | -€3,198,583 | -€15,702 | -0.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| 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 | -€3,203,340 | -€3,219,043 | -€15,702 | -0.5% |
| Amounts payable | 17/49 | €5,965,439 | €5,915,941 | -€49,498 | -0.8% |
| Amounts payable after more than one year | 17 | €5,905,657 | €5,798,657 | -€107,000 | -1.8% |
| Financial debts | 170/4 | €5,905,657 | €5,798,657 | -€107,000 | -1.8% |
| Amounts payable within one year | 42/48 | €59,782 | €117,284 | +€57,502 | +96.2% |
| Trade debts | 44 | €8,863 | €1,177 | -€7,686 | -86.7% |
| Suppliers | 440/4 | €8,863 | €1,177 | -€7,686 | -86.7% |
| Taxes, remuneration and social security | 45 | €323 | €1,025 | +€701 | +216.9% |
| Taxes | 450/3 | €323 | €1,025 | +€701 | +216.9% |
| Other amounts payable | 47/48 | €50,595 | €115,082 | +€64,487 | +127.5% |
| Non-recurring operating income | 76A | €504,737 | €0 | -€504,737 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,405 | €19,792 | +€15,387 | +349.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,360 | €0 | -€3,360 | -100.0% |
| Other operating charges | 640/8 | €1,086 | €3,049 | +€1,963 | +180.9% |
| Non-recurring operating charges | 66A | - | €300,000 | +€300,000 | |
| Gross operating margin | 9900 | €528,600 | -€12,064 | -€540,664 | |
| Operating profit (loss) | 9901 | €519,750 | -€334,904 | -€854,654 | |
| Financial income | 75/76B | €22,199 | €338,532 | +€316,333 | +1425.0% |
| Recurring financial income | 75 | €22,199 | €38,532 | +€16,333 | +73.6% |
| Non-recurring financial income | 76B | - | €300,000 | +€300,000 | |
| Financial charges | 65/66B | €16,662 | €18,797 | +€2,135 | +12.8% |
| Recurring financial charges | 65 | €16,662 | €18,797 | +€2,135 | +12.8% |
| Profit (loss) for the period before taxes | 9903 | €525,286 | -€15,169 | -€540,455 | |
| Income taxes | 67/77 | €219 | €533 | +€314 | +143.4% |
| Profit (loss) for the period | 9904 | €525,067 | -€15,702 | -€540,769 | |
| Profit (loss) for the period to be appropriated | 9905 | €525,067 | -€15,702 | -€540,769 |
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 11 October 2026 via checked.be.