D&D Horseshop: 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.
D&D Horseshop
Largest movements
- Receivables within one year +€34,911
up €34,911 (+210%), from €16,624 to €51,535
of which Other amounts receivable: +€34,631
- Stocks and contracts -€22,687
down €22,687 (-13.1%), from €173,845 to €151,158
- Tangible fixed assets +€14,039
up €14,039 (+55.7%), from €25,201 to €39,240
of which Furniture and vehicles: +€12,187
- Trade debts +€39,817
up €39,817 (+596%), from €6,682 to €46,499
- Profit (loss) carried forward +€24,335
up €24,335 (+8.1%), from -€299,037 to -€274,702
- Reserves -€22,603
no longer reported in 2025 (was €22,603)
- Tax, wage and social debts -€19,298
no longer reported in 2025 (was €19,298)
- Depreciation +€3,131
up €3,131 (+40.0%), from €7,830 to €10,961
- Staff costs -€1,021
no longer reported in 2025 (was €1,021)
- Financial income +€512
up €512 (+8,359%), from €6 to €519
- Gross operating margin -€445
down €445 (-3.1%), from €14,428 to €13,983
- Other operating charges -€194
down €194 (-16.9%), from €1,152 to €958
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 | €235,714 | €261,406 | +€25,693 | +10.9% |
| Fixed assets | 21/28 | €29,251 | €43,440 | +€14,189 | +48.5% |
| Tangible fixed assets | 22/27 | €25,201 | €39,240 | +€14,039 | +55.7% |
| Plant, machinery and equipment | 23 | - | €1,852 | +€1,852 | |
| Furniture and vehicles | 24 | €25,201 | €37,388 | +€12,187 | +48.4% |
| Financial fixed assets | 28 | €4,050 | €4,200 | +€150 | +3.7% |
| Current assets | 29/58 | €206,462 | €217,966 | +€11,504 | +5.6% |
| Stocks and contracts in progress | 3 | €173,845 | €151,158 | -€22,687 | -13.1% |
| Stocks | 30/36 | €173,845 | €151,158 | -€22,687 | -13.1% |
| Amounts receivable within one year | 40/41 | €16,624 | €51,535 | +€34,911 | +210% |
| Trade receivables | 40 | - | €280 | +€280 | |
| Other amounts receivable | 41 | €16,624 | €51,254 | +€34,631 | +208% |
| Cash at bank and in hand | 54/58 | €15,871 | €14,768 | -€1,103 | -6.9% |
| Deferred charges and accrued income | 490/1 | €122 | €505 | +€383 | +314% |
| Total equity and liabilities | 10/49 | €235,714 | €261,406 | +€25,693 | +10.9% |
| Equity | 10/15 | -€58,042 | -€56,310 | +€1,732 | +3.0% |
| Contributions | 10/11 | €218,392 | €218,392 | = | 0.0% |
| Reserves | 13 | €22,603 | - | -€22,603 | |
| Distributable reserves | 133 | €22,603 | - | -€22,603 | |
| Profit (loss) carried forward | 14 | -€299,037 | -€274,702 | +€24,335 | +8.1% |
| Amounts payable | 17/49 | €293,756 | €317,717 | +€23,961 | +8.2% |
| Amounts payable within one year | 42/48 | €290,415 | €312,303 | +€21,888 | +7.5% |
| Trade debts | 44 | €6,682 | €46,499 | +€39,817 | +596% |
| Suppliers | 440/4 | €6,682 | €46,499 | +€39,817 | +596% |
| Taxes, remuneration and social security | 45 | €19,298 | - | -€19,298 | |
| Remuneration and social security | 454/9 | €19,298 | - | -€19,298 | |
| Other amounts payable | 47/48 | €264,436 | €265,804 | +€1,368 | +0.5% |
| Accrued charges and deferred income | 492/3 | €3,340 | €5,414 | +€2,073 | +62.1% |
| Remuneration, social security and pensions | 62 | €1,021 | - | -€1,021 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,830 | €10,961 | +€3,131 | +40.0% |
| Other operating charges | 640/8 | €1,152 | €958 | -€194 | -16.9% |
| Gross operating margin | 9900 | €14,428 | €13,983 | -€445 | -3.1% |
| Operating profit (loss) | 9901 | €4,425 | €2,064 | -€2,361 | -53.3% |
| Financial income | 75/76B | €6 | €519 | +€512 | +8,359% |
| Recurring financial income | 75 | €6 | €519 | +€512 | +8,359% |
| Financial charges | 65/66B | €681 | €774 | +€93 | +13.6% |
| Recurring financial charges | 65 | €681 | €774 | +€93 | +13.6% |
| Profit (loss) for the period before taxes | 9903 | €3,749 | €1,808 | -€1,941 | -51.8% |
| Income taxes | 67/77 | €2 | €77 | +€75 | +4,063% |
| Profit (loss) for the period | 9904 | €3,748 | €1,732 | -€2,016 | -53.8% |
| Profit (loss) for the period to be appropriated | 9905 | €3,748 | €1,732 | -€2,016 | -53.8% |
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 20 October 2026 via checked.be.