EB Horses: 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.
EB Horses
Largest movements
- Stocks and contracts -€8,089
down €8,089 (-16.1%), from €50,138 to €42,049
- Tangible fixed assets -€6,715
down €6,715 (-17.4%), from €38,515 to €31,800
of which Leasing and similar rights: -€7,544
- Cash +€5,305
up €5,305 (+304.7%), from €1,741 to €7,046
mainly Depreciation (+€11,161) and Stocks and contracts (+€8,089)
- Receivables within one year +€1,898
up €1,898 (+3.8%), from €49,387 to €51,285
of which Trade receivables: +€3,304
- Debts after one year -€7,577
down €7,577 (-34.2%), from €22,174 to €14,597
- Reserves +€3,150
up €3,150 (+4.4%), from €71,087 to €74,237
- Trade debts -€2,992
down €2,992 (-13.5%), from €22,170 to €19,178
- Gross operating margin -€8,778
down €8,778 (-29.9%), from €29,324 to €20,546
- Taxes -€4,522
down €4,522 (-68.8%), from €6,571 to €2,049
- Financial income -€3,636
down €3,636 (-46.1%), from €7,892 to €4,257
- Depreciation +€2,994
up €2,994 (+36.7%), from €8,167 to €11,161
- Financial charges +€1,501
up €1,501 (+50.3%), from €2,985 to €4,486
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 | €140,639 | €133,044 | -€7,595 | -5.4% |
| Fixed assets | 21/28 | €38,515 | €31,800 | -€6,715 | -17.4% |
| Tangible fixed assets | 22/27 | €38,515 | €31,800 | -€6,715 | -17.4% |
| Plant, machinery and equipment | 23 | €574 | €2,903 | +€2,329 | +405.5% |
| Furniture and vehicles | 24 | €8,424 | €6,924 | -€1,500 | -17.8% |
| Leasing and similar rights | 25 | €29,516 | €21,973 | -€7,544 | -25.6% |
| Current assets | 29/58 | €102,124 | €101,244 | -€880 | -0.9% |
| Stocks and contracts in progress | 3 | €50,138 | €42,049 | -€8,089 | -16.1% |
| Stocks | 30/36 | €50,138 | €42,049 | -€8,089 | -16.1% |
| Amounts receivable within one year | 40/41 | €49,387 | €51,285 | +€1,898 | +3.8% |
| Trade receivables | 40 | €17,609 | €20,913 | +€3,304 | +18.8% |
| Other amounts receivable | 41 | €31,778 | €30,372 | -€1,406 | -4.4% |
| Cash at bank and in hand | 54/58 | €1,741 | €7,046 | +€5,305 | +304.7% |
| Deferred charges and accrued income | 490/1 | €858 | €864 | +€6 | +0.7% |
| Total equity and liabilities | 10/49 | €140,639 | €133,044 | -€7,595 | -5.4% |
| Equity | 10/15 | €73,136 | €76,287 | +€3,152 | +4.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €71,087 | €74,237 | +€3,150 | +4.4% |
| Distributable reserves | 133 | €71,087 | €74,237 | +€3,150 | +4.4% |
| Profit (loss) carried forward | 14 | €49 | €50 | +€2 | +3.7% |
| Amounts payable | 17/49 | €67,503 | €56,757 | -€10,747 | -15.9% |
| Amounts payable after more than one year | 17 | €22,174 | €14,597 | -€7,577 | -34.2% |
| Financial debts | 170/4 | €22,174 | €14,597 | -€7,577 | -34.2% |
| Amounts payable within one year | 42/48 | €45,330 | €42,159 | -€3,170 | -7.0% |
| Current portion of amounts payable after more than one year | 42 | €7,243 | €7,577 | +€334 | +4.6% |
| Trade debts | 44 | €22,170 | €19,178 | -€2,992 | -13.5% |
| Suppliers | 440/4 | €22,170 | €19,178 | -€2,992 | -13.5% |
| Taxes, remuneration and social security | 45 | €15,916 | €15,405 | -€512 | -3.2% |
| Taxes | 450/3 | €15,916 | €13,405 | -€2,512 | -15.8% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Remuneration, social security and pensions | 62 | €687 | €649 | -€37 | -5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,167 | €11,161 | +€2,994 | +36.7% |
| Other operating charges | 640/8 | €2,119 | €3,306 | +€1,187 | +56.0% |
| Gross operating margin | 9900 | €29,324 | €20,546 | -€8,778 | -29.9% |
| Operating profit (loss) | 9901 | €18,351 | €5,429 | -€12,922 | -70.4% |
| Financial income | 75/76B | €7,892 | €4,257 | -€3,636 | -46.1% |
| Recurring financial income | 75 | €7,892 | €4,257 | -€3,636 | -46.1% |
| Financial charges | 65/66B | €2,985 | €4,486 | +€1,501 | +50.3% |
| Recurring financial charges | 65 | €2,985 | €4,486 | +€1,501 | +50.3% |
| Profit (loss) for the period before taxes | 9903 | €23,259 | €5,201 | -€18,058 | -77.6% |
| Income taxes | 67/77 | €6,571 | €2,049 | -€4,522 | -68.8% |
| Profit (loss) for the period | 9904 | €16,688 | €3,152 | -€13,536 | -81.1% |
| Profit (loss) for the period to be appropriated | 9905 | €16,688 | €3,152 | -€13,536 | -81.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.