Atelier Horizon: what changed
Atelier Horizon
Largest movements
- Cash +€107,766
up €107,766 (+146%), from €73,567 to €181,334
mainly Net result for the year (+€120,161) and Trade debts (+€87,256)
- Receivables within one year +€39,390
up €39,390 (+14.2%), from €277,614 to €317,004
of which Trade receivables: +€39,875
- Tangible fixed assets -€17,721
down €17,721 (-4.1%), from €427,816 to €410,095
of which Land and buildings: -€14,143
- Financial fixed assets +€11,710
up €11,710 (+46.1%), from €25,390 to €37,100
- Trade debts +€87,256
up €87,256 (+1,293%), from €6,748 to €94,004
- Other debts +€60,000
up €60,000 (+100%), from €60,000 to €120,000
- Debts after one year -€39,714
down €39,714 (-12.9%), from €308,331 to €268,617
- Tax, wage and social debts +€35,521
up €35,521 (+140%), from €25,438 to €60,958
of which Taxes: +€31,950
- Gross operating margin +€37,495
up €37,495 (+25.3%), from €148,137 to €185,632
- Taxes +€11,430
up €11,430 (+37.0%), from €30,855 to €42,284
- Other operating charges -€4,750
down €4,750 (-77.6%), from €6,119 to €1,368
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €812,822 | €954,989 | +€142,166 | +17.5% |
| Fixed assets | 21/28 | €453,206 | €447,195 | -€6,011 | -1.3% |
| Tangible fixed assets | 22/27 | €427,816 | €410,095 | -€17,721 | -4.1% |
| Land and buildings | 22 | €402,960 | €388,817 | -€14,143 | -3.5% |
| Plant, machinery and equipment | 23 | €2,820 | €2,022 | -€798 | -28.3% |
| Furniture and vehicles | 24 | €22,037 | €19,256 | -€2,781 | -12.6% |
| Financial fixed assets | 28 | €25,390 | €37,100 | +€11,710 | +46.1% |
| Current assets | 29/58 | €359,616 | €507,794 | +€148,178 | +41.2% |
| Amounts receivable within one year | 40/41 | €277,614 | €317,004 | +€39,390 | +14.2% |
| Trade receivables | 40 | €262,987 | €302,861 | +€39,875 | +15.2% |
| Other amounts receivable | 41 | €14,627 | €14,143 | -€484 | -3.3% |
| Cash at bank and in hand | 54/58 | €73,567 | €181,334 | +€107,766 | +146% |
| Deferred charges and accrued income | 490/1 | €8,435 | €9,456 | +€1,021 | +12.1% |
| Total equity and liabilities | 10/49 | €812,822 | €954,989 | +€142,166 | +17.5% |
| Equity | 10/15 | €402,696 | €401,695 | -€1,001 | -0.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €358,712 | €358,873 | +€161 | 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% |
| Distributable reserves | 133 | €356,852 | €357,013 | +€161 | 0.0% |
| Investment grants | 15 | €25,383 | €24,221 | -€1,162 | -4.6% |
| Amounts payable | 17/49 | €410,127 | €553,294 | +€143,167 | +34.9% |
| Amounts payable after more than one year | 17 | €308,331 | €268,617 | -€39,714 | -12.9% |
| Financial debts | 170/4 | €308,331 | €268,617 | -€39,714 | -12.9% |
| Amounts payable within one year | 42/48 | €101,795 | €284,677 | +€182,881 | +180% |
| Current portion of amounts payable after more than one year | 42 | €9,609 | €9,714 | +€104 | +1.1% |
| Trade debts | 44 | €6,748 | €94,004 | +€87,256 | +1,293% |
| Suppliers | 440/4 | €6,748 | €94,004 | +€87,256 | +1,293% |
| Taxes, remuneration and social security | 45 | €25,438 | €60,958 | +€35,521 | +140% |
| Taxes | 450/3 | €25,438 | €57,388 | +€31,950 | +126% |
| Remuneration and social security | 454/9 | - | €3,571 | +€3,571 | |
| Other amounts payable | 47/48 | €60,000 | €120,000 | +€60,000 | +100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,179 | €21,456 | -€723 | -3.3% |
| Other operating charges | 640/8 | €6,119 | €1,368 | -€4,750 | -77.6% |
| Gross operating margin | 9900 | €148,137 | €185,632 | +€37,495 | +25.3% |
| Operating profit (loss) | 9901 | €119,839 | €162,808 | +€42,969 | +35.9% |
| Financial income | 75/76B | €1,164 | €1,162 | -€2 | -0.2% |
| Recurring financial income | 75 | €1,164 | €1,162 | -€2 | -0.2% |
| Financial charges | 65/66B | €1,790 | €1,524 | -€266 | -14.9% |
| Recurring financial charges | 65 | €1,790 | €1,524 | -€266 | -14.9% |
| Profit (loss) for the period before taxes | 9903 | €119,213 | €162,445 | +€43,233 | +36.3% |
| Income taxes | 67/77 | €30,855 | €42,284 | +€11,430 | +37.0% |
| Profit (loss) for the period | 9904 | €88,358 | €120,161 | +€31,803 | +36.0% |
| Profit (loss) for the period to be appropriated | 9905 | €88,358 | €120,161 | +€31,803 | +36.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.