EQUISEARCH SPORTHORSES: 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.
EQUISEARCH SPORTHORSES
Largest movements
- Receivables within one year -€175,679
down €175,679 (-72.0%), from €243,834 to €68,155
of which Trade receivables: -€177,115
- Cash +€102,699
up €102,699 (+1,459%), from €7,038 to €109,736
mainly Receivables within one year (+€175,679) and Stocks and contracts (+€68,699)
- Stocks and contracts -€68,699
down €68,699 (-21.0%), from €326,541 to €257,842
- Trade debts -€203,208
down €203,208 (-60.0%), from €338,528 to €135,320
- Profit (loss) carried forward +€50,311
up €50,311 (+22.2%), from €226,914 to €277,225
- Tax, wage and social debts +€9,543
up €9,543 (+2,424%), from €394 to €9,937
- Gross operating margin -€18,823
down €18,823 (-23.5%), from €80,066 to €61,243
- Financial charges +€1,274
up €1,274 (+86.3%), from €1,477 to €2,752
- Taxes +€1,240
up €1,240 (+26.9%), from €4,615 to €5,856
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 | €580,097 | €436,743 | -€143,354 | -24.7% |
| Fixed assets | 21/28 | €2,685 | €1,010 | -€1,675 | -62.4% |
| Tangible fixed assets | 22/27 | €2,685 | €1,010 | -€1,675 | -62.4% |
| Furniture and vehicles | 24 | €2,685 | €1,010 | -€1,675 | -62.4% |
| Current assets | 29/58 | €577,412 | €435,733 | -€141,679 | -24.5% |
| Stocks and contracts in progress | 3 | €326,541 | €257,842 | -€68,699 | -21.0% |
| Stocks | 30/36 | €326,541 | €257,842 | -€68,699 | -21.0% |
| Amounts receivable within one year | 40/41 | €243,834 | €68,155 | -€175,679 | -72.0% |
| Trade receivables | 40 | €189,484 | €12,370 | -€177,115 | -93.5% |
| Other amounts receivable | 41 | €54,349 | €55,785 | +€1,436 | +2.6% |
| Cash at bank and in hand | 54/58 | €7,038 | €109,736 | +€102,699 | +1,459% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €580,097 | €436,743 | -€143,354 | -24.7% |
| Equity | 10/15 | €241,174 | €291,485 | +€50,311 | +20.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €226,914 | €277,225 | +€50,311 | +22.2% |
| Amounts payable | 17/49 | €338,922 | €145,258 | -€193,665 | -57.1% |
| Amounts payable within one year | 42/48 | €338,922 | €145,258 | -€193,665 | -57.1% |
| Trade debts | 44 | €338,528 | €135,320 | -€203,208 | -60.0% |
| Suppliers | 440/4 | €338,528 | €135,320 | -€203,208 | -60.0% |
| Taxes, remuneration and social security | 45 | €394 | €9,937 | +€9,543 | +2,424% |
| Taxes | 450/3 | €394 | €9,937 | +€9,543 | +2,424% |
| Other amounts payable | 47/48 | €0 | €0 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,877 | €1,675 | -€201 | -10.7% |
| Other operating charges | 640/8 | €125 | €650 | +€525 | +420% |
| Gross operating margin | 9900 | €80,066 | €61,243 | -€18,823 | -23.5% |
| Operating profit (loss) | 9901 | €78,064 | €58,918 | -€19,146 | -24.5% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €1,477 | €2,752 | +€1,274 | +86.3% |
| Recurring financial charges | 65 | €1,477 | €2,752 | +€1,274 | +86.3% |
| Profit (loss) for the period before taxes | 9903 | €76,588 | €56,167 | -€20,421 | -26.7% |
| Income taxes | 67/77 | €4,615 | €5,856 | +€1,240 | +26.9% |
| Profit (loss) for the period | 9904 | €71,973 | €50,311 | -€21,662 | -30.1% |
| Profit (loss) for the period to be appropriated | 9905 | €71,973 | €50,311 | -€21,662 | -30.1% |
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 26 October 2026 via checked.be.