EQUESTRIAN TECHNOLOGY: 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.
EQUESTRIAN TECHNOLOGY
Largest movements
- Intangible fixed assets +€418,046
up €418,046 (+27.0%), from €1.5m to €2.0m
- Receivables within one year +€64,300
up €64,300 (+206.9%), from €31,081 to €95,381
of which Trade receivables: +€72,668
- Cash +€50,487
up €50,487 (+175.4%), from €28,785 to €79,272
- Deferred charges and accrued income +€38,071
up €38,071 (+14608.9%), from €261 to €38,331
- Debts after one year +€854,654
up €854,654 (+1068.3%), from €80,000 to €934,654
- Profit (loss) carried forward -€315,907
down €315,907 (-110.4%), from -€286,139 to -€602,047
- Current portion of long-term debt +€225,614
up €225,614 (+1128.1%), from €20,000 to €245,614
- Other debts -€140,000
down €140,000 (-100.0%), from €140,000 to €0
- Trade debts -€80,046
down €80,046 (-19.4%), from €413,165 to €333,119
- Gross operating margin +€295,735
up €295,735, from -€160,868 to €134,868
- Staff costs +€225,385
up €225,385 (+493.3%), from €45,691 to €271,076
- Depreciation +€100,563
up €100,563 (+3472.5%), from €2,896 to €103,458
- Financial charges +€36,311
up €36,311 (+244.7%), from €14,842 to €51,153
- Other operating charges +€22,941
up €22,941 (+519.4%), from €4,416 to €27,357
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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,722,003 | €2,314,123 | +€592,120 | +34.4% |
| Fixed assets | 21/28 | €1,569,215 | €1,992,276 | +€423,061 | +27.0% |
| Intangible fixed assets | 21 | €1,547,005 | €1,965,051 | +€418,046 | +27.0% |
| Tangible fixed assets | 22/27 | €14,944 | €19,959 | +€5,015 | +33.6% |
| Plant, machinery and equipment | 23 | €11,987 | €10,268 | -€1,719 | -14.3% |
| Furniture and vehicles | 24 | €2,957 | €9,691 | +€6,734 | +227.8% |
| Financial fixed assets | 28 | €7,266 | €7,266 | = | 0.0% |
| Current assets | 29/58 | €152,789 | €321,847 | +€169,058 | +110.6% |
| Stocks and contracts in progress | 3 | €92,662 | €108,863 | +€16,201 | +17.5% |
| Stocks | 30/36 | €92,662 | €108,863 | +€16,201 | +17.5% |
| Amounts receivable within one year | 40/41 | €31,081 | €95,381 | +€64,300 | +206.9% |
| Trade receivables | 40 | €13,995 | €86,663 | +€72,668 | +519.2% |
| Other amounts receivable | 41 | €17,086 | €8,719 | -€8,368 | -49.0% |
| Cash at bank and in hand | 54/58 | €28,785 | €79,272 | +€50,487 | +175.4% |
| Deferred charges and accrued income | 490/1 | €261 | €38,331 | +€38,071 | +14608.9% |
| Total equity and liabilities | 10/49 | €1,722,003 | €2,314,123 | +€592,120 | +34.4% |
| Equity | 10/15 | €758,330 | €432,965 | -€325,365 | -42.9% |
| Contributions | 10/11 | €855,325 | €855,325 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€286,139 | -€602,047 | -€315,907 | -110.4% |
| Investment grants | 15 | €189,144 | €179,687 | -€9,457 | -5.0% |
| Amounts payable | 17/49 | €963,673 | €1,881,157 | +€917,484 | +95.2% |
| Amounts payable after more than one year | 17 | €80,000 | €934,654 | +€854,654 | +1068.3% |
| Financial debts | 170/4 | €80,000 | €934,654 | +€854,654 | +1068.3% |
| Amounts payable within one year | 42/48 | €877,821 | €927,874 | +€50,053 | +5.7% |
| Current portion of amounts payable after more than one year | 42 | €20,000 | €245,614 | +€225,614 | +1128.1% |
| Financial debts | 43 | €246,521 | €285,000 | +€38,479 | +15.6% |
| Credit institutions | 430/8 | €246,521 | €285,000 | +€38,479 | +15.6% |
| Trade debts | 44 | €413,165 | €333,119 | -€80,046 | -19.4% |
| Suppliers | 440/4 | €413,165 | €333,119 | -€80,046 | -19.4% |
| Advances received on contracts in progress | 46 | €48,553 | €0 | -€48,553 | -100.0% |
| Taxes, remuneration and social security | 45 | €9,582 | €64,141 | +€54,559 | +569.4% |
| Taxes | 450/3 | €419 | €7,324 | +€6,905 | +1648.3% |
| Remuneration and social security | 454/9 | €9,163 | €56,817 | +€47,654 | +520.1% |
| Other amounts payable | 47/48 | €140,000 | €0 | -€140,000 | -100.0% |
| Accrued charges and deferred income | 492/3 | €5,852 | €18,630 | +€12,777 | +218.3% |
| Non-recurring operating income | 76A | - | €517 | +€517 | |
| Remuneration, social security and pensions | 62 | €45,691 | €271,076 | +€225,385 | +493.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,896 | €103,458 | +€100,563 | +3472.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €7,000 | +€7,000 | |
| Other operating charges | 640/8 | €4,416 | €27,357 | +€22,941 | +519.4% |
| Gross operating margin | 9900 | -€160,868 | €134,868 | +€295,735 | |
| Operating profit (loss) | 9901 | -€213,871 | -€274,024 | -€60,153 | -28.1% |
| Financial income | 75/76B | €334 | €9,681 | +€9,348 | +2801.8% |
| Recurring financial income | 75 | €334 | €9,681 | +€9,348 | +2801.8% |
| Financial charges | 65/66B | €14,842 | €51,153 | +€36,311 | +244.7% |
| Recurring financial charges | 65 | €14,842 | €51,153 | +€36,311 | +244.7% |
| Profit (loss) for the period before taxes | 9903 | -€228,379 | -€315,495 | -€87,116 | -38.1% |
| Income taxes | 67/77 | - | €412 | +€412 | |
| Profit (loss) for the period | 9904 | -€228,379 | -€315,907 | -€87,528 | -38.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€228,379 | -€315,907 | -€87,528 | -38.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.