Beyond Horizon: 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.
Beyond Horizon
Largest movements
- Tangible fixed assets +€36,273
up €36,273 (+2,738%), from €1,325 to €37,598
of which Plant, machinery and equipment: +€36,947
- Cash +€5,792
up €5,792 (+22.9%), from €25,323 to €31,115
mainly Net result for the year (+€35,282) and Tax, wage and social debts (+€5,145)
- Deferred charges and accrued income -€1,687
down €1,687 (-93.7%), from €1,800 to €113
- Receivables within one year -€1,331
down €1,331 (-8.8%), from €15,153 to €13,822
of which Trade receivables: -€2,696
- Profit (loss) carried forward +€35,283
up €35,283 (+109%), from €32,481 to €67,764
- Tax, wage and social debts +€5,145
up €5,145 (+82.3%), from €6,250 to €11,395
- Gross operating margin +€2,916
up €2,916 (+6.6%), from €44,087 to €47,003
- Other operating charges -€1,821
down €1,821 (-79.0%), from €2,305 to €484
- Depreciation +€1,006
up €1,006 (+145%), from €696 to €1,702
- Taxes +€809
up €809 (+9.4%), from €8,564 to €9,373
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 | €43,601 | €82,648 | +€39,047 | +89.6% |
| Fixed assets | 21/28 | €1,325 | €37,598 | +€36,273 | +2,738% |
| Tangible fixed assets | 22/27 | €1,325 | €37,598 | +€36,273 | +2,738% |
| Plant, machinery and equipment | 23 | - | €36,947 | +€36,947 | |
| Furniture and vehicles | 24 | €1,325 | €651 | -€674 | -50.9% |
| Current assets | 29/58 | €42,276 | €45,050 | +€2,774 | +6.6% |
| Amounts receivable within one year | 40/41 | €15,153 | €13,822 | -€1,331 | -8.8% |
| Trade receivables | 40 | €15,153 | €12,457 | -€2,696 | -17.8% |
| Other amounts receivable | 41 | - | €1,365 | +€1,365 | |
| Cash at bank and in hand | 54/58 | €25,323 | €31,115 | +€5,792 | +22.9% |
| Deferred charges and accrued income | 490/1 | €1,800 | €113 | -€1,687 | -93.7% |
| Total equity and liabilities | 10/49 | €43,601 | €82,648 | +€39,047 | +89.6% |
| Equity | 10/15 | €35,481 | €70,764 | +€35,283 | +99.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,481 | €67,764 | +€35,283 | +109% |
| Amounts payable | 17/49 | €8,120 | €11,884 | +€3,764 | +46.4% |
| Amounts payable within one year | 42/48 | €8,120 | €11,884 | +€3,764 | +46.4% |
| Trade debts | 44 | €1,266 | €489 | -€777 | -61.3% |
| Suppliers | 440/4 | €1,266 | €489 | -€777 | -61.3% |
| Taxes, remuneration and social security | 45 | €6,250 | €11,395 | +€5,145 | +82.3% |
| Taxes | 450/3 | €6,250 | €11,395 | +€5,145 | +82.3% |
| Other amounts payable | 47/48 | €604 | €0 | -€604 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €696 | €1,702 | +€1,006 | +145% |
| Other operating charges | 640/8 | €2,305 | €484 | -€1,821 | -79.0% |
| Gross operating margin | 9900 | €44,087 | €47,003 | +€2,916 | +6.6% |
| Operating profit (loss) | 9901 | €41,086 | €44,816 | +€3,730 | +9.1% |
| Financial charges | 65/66B | €41 | €161 | +€120 | +293% |
| Recurring financial charges | 65 | €41 | €161 | +€120 | +293% |
| Profit (loss) for the period before taxes | 9903 | €41,045 | €44,655 | +€3,610 | +8.8% |
| Income taxes | 67/77 | €8,564 | €9,373 | +€809 | +9.4% |
| Profit (loss) for the period | 9904 | €32,481 | €35,282 | +€2,801 | +8.6% |
| Profit (loss) for the period to be appropriated | 9905 | €32,481 | €35,282 | +€2,801 | +8.6% |
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 19 October 2026 via checked.be.