DHORIZON: what changed
Two fiscal 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.
DHORIZON
Largest movements
- Cash +€128,849
up €128,849 (+102.0%), from €126,289 to €255,138
mainly Net result for the year (+€123,505) and Tax, wage and social debts (+€2,909)
- Profit (loss) carried forward +€123,505
up €123,505 (+89.6%), from €137,847 to €261,352
- Tax, wage and social debts +€2,909
up €2,909 (+26.3%), from €11,070 to €13,979
of which Taxes: +€4,369
- Gross operating margin +€19,343
up €19,343 (+13.7%), from €140,701 to €160,043
- Taxes +€4,946
up €4,946 (+16.2%), from €30,609 to €35,555
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 | €151,417 | €279,323 | +€127,906 | +84.5% |
| Fixed assets | 21/28 | €2,328 | €2,114 | -€213 | -9.2% |
| Tangible fixed assets | 22/27 | €2,328 | €2,114 | -€213 | -9.2% |
| Plant, machinery and equipment | 23 | €1,662 | €1,253 | -€409 | -24.6% |
| Furniture and vehicles | 24 | €665 | €861 | +€196 | +29.5% |
| Current assets | 29/58 | €149,089 | €277,209 | +€128,119 | +85.9% |
| Amounts receivable within one year | 40/41 | €22,733 | €22,002 | -€731 | -3.2% |
| Trade receivables | 40 | €17,343 | €16,635 | -€708 | -4.1% |
| Other amounts receivable | 41 | €5,390 | €5,367 | -€23 | -0.4% |
| Cash at bank and in hand | 54/58 | €126,289 | €255,138 | +€128,849 | +102.0% |
| Deferred charges and accrued income | 490/1 | €67 | €69 | +€1 | +2.0% |
| Total equity and liabilities | 10/49 | €151,417 | €279,323 | +€127,906 | +84.5% |
| Equity | 10/15 | €140,347 | €263,852 | +€123,505 | +88.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €137,847 | €261,352 | +€123,505 | +89.6% |
| Amounts payable | 17/49 | €11,070 | €15,471 | +€4,401 | +39.8% |
| Amounts payable within one year | 42/48 | €11,070 | €15,471 | +€4,401 | +39.8% |
| Trade debts | 44 | €0 | €1,492 | +€1,492 | |
| Suppliers | 440/4 | €0 | €1,492 | +€1,492 | |
| Taxes, remuneration and social security | 45 | €11,070 | €13,979 | +€2,909 | +26.3% |
| Taxes | 450/3 | €9,610 | €13,979 | +€4,369 | +45.5% |
| Remuneration and social security | 454/9 | €1,460 | €0 | -€1,460 | -100.0% |
| Remuneration, social security and pensions | 62 | - | €250 | +€250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €563 | €621 | +€59 | +10.4% |
| Other operating charges | 640/8 | €140 | €102 | -€38 | -27.3% |
| Gross operating margin | 9900 | €140,701 | €160,043 | +€19,343 | +13.7% |
| Operating profit (loss) | 9901 | €139,998 | €159,070 | +€19,072 | +13.6% |
| Financial income | 75/76B | - | €140 | +€140 | |
| Recurring financial income | 75 | - | €140 | +€140 | |
| Financial charges | 65/66B | €139 | €150 | +€11 | +8.2% |
| Recurring financial charges | 65 | €139 | €150 | +€11 | +8.2% |
| Profit (loss) for the period before taxes | 9903 | €139,859 | €159,060 | +€19,201 | +13.7% |
| Income taxes | 67/77 | €30,609 | €35,555 | +€4,946 | +16.2% |
| Profit (loss) for the period | 9904 | €109,251 | €123,505 | +€14,254 | +13.0% |
| Profit (loss) for the period to be appropriated | 9905 | €109,251 | €123,505 | +€14,254 | +13.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.