EQUUS INTERNATIONAL: 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.
EQUUS INTERNATIONAL
Largest movements
- Receivables within one year +€190,173
up €190,173 (+13.3%), from €1.4m to €1.6m
of which Trade receivables: +€363,475
- Tangible fixed assets -€47,091
down €47,091 (-2.1%), from €2.3m to €2.2m
of which Land and buildings: -€28,094
- Profit (loss) carried forward +€167,738
up €167,738 (+11.8%), from €1.4m to €1.6m
- Debts after one year -€150,879
down €150,879 (-14.0%), from €1.1m to €923,801
- Tax, wage and social debts +€120,184
up €120,184 (+106%), from €113,334 to €233,518
of which Taxes: +€117,534
- Financial income +€38,781
new in 2025: €38,781
of which Non-recurring financial income: +€38,780
- Other operating charges +€32,189
up €32,189 (+2,218%), from €1,452 to €33,641
- Taxes -€17,598
down €17,598 (-37.1%), from €47,468 to €29,869
- Financial charges -€15,291
down €15,291 (-29.5%), from €51,820 to €36,529
- Gross operating margin -€12,902
down €12,902 (-3.6%), from €360,512 to €347,610
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 | €3,731,804 | €3,885,660 | +€153,856 | +4.1% |
| Fixed assets | 21/28 | €2,287,607 | €2,240,516 | -€47,091 | -2.1% |
| Tangible fixed assets | 22/27 | €2,287,607 | €2,240,516 | -€47,091 | -2.1% |
| Land and buildings | 22 | €2,224,217 | €2,196,123 | -€28,094 | -1.3% |
| Plant, machinery and equipment | 23 | €190 | €91 | -€99 | -52.2% |
| Furniture and vehicles | 24 | €63,201 | €44,302 | -€18,898 | -29.9% |
| Current assets | 29/58 | €1,444,197 | €1,645,144 | +€200,946 | +13.9% |
| Amounts receivable within one year | 40/41 | €1,432,207 | €1,622,380 | +€190,173 | +13.3% |
| Trade receivables | 40 | €913,419 | €1,276,894 | +€363,475 | +39.8% |
| Other amounts receivable | 41 | €518,788 | €345,486 | -€173,302 | -33.4% |
| Cash at bank and in hand | 54/58 | €11,412 | €18,624 | +€7,213 | +63.2% |
| Deferred charges and accrued income | 490/1 | €579 | €4,139 | +€3,561 | +615% |
| Total equity and liabilities | 10/49 | €3,731,804 | €3,885,660 | +€153,856 | +4.1% |
| Equity | 10/15 | €1,446,817 | €1,614,555 | +€167,738 | +11.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 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 | €1,426,357 | €1,594,095 | +€167,738 | +11.8% |
| Amounts payable | 17/49 | €2,284,987 | €2,271,105 | -€13,882 | -0.6% |
| Amounts payable after more than one year | 17 | €1,074,680 | €923,801 | -€150,879 | -14.0% |
| Financial debts | 170/4 | €1,074,680 | €923,801 | -€150,879 | -14.0% |
| Amounts payable within one year | 42/48 | €1,205,308 | €1,342,304 | +€136,996 | +11.4% |
| Current portion of amounts payable after more than one year | 42 | €145,627 | €150,879 | +€5,252 | +3.6% |
| Trade debts | 44 | €105,398 | €119,265 | +€13,867 | +13.2% |
| Suppliers | 440/4 | €105,398 | €119,265 | +€13,867 | +13.2% |
| Taxes, remuneration and social security | 45 | €113,334 | €233,518 | +€120,184 | +106% |
| Taxes | 450/3 | €113,334 | €230,868 | +€117,534 | +104% |
| Remuneration and social security | 454/9 | - | €2,650 | +€2,650 | |
| Other amounts payable | 47/48 | €840,949 | €838,643 | -€2,306 | -0.3% |
| Accrued charges and deferred income | 492/3 | €5,000 | €5,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117,807 | €118,614 | +€808 | +0.7% |
| Other operating charges | 640/8 | €1,452 | €33,641 | +€32,189 | +2,218% |
| Gross operating margin | 9900 | €360,512 | €347,610 | -€12,902 | -3.6% |
| Operating profit (loss) | 9901 | €241,254 | €195,355 | -€45,899 | -19.0% |
| Financial income | 75/76B | - | €38,781 | +€38,781 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Non-recurring financial income | 76B | - | €38,780 | +€38,780 | |
| Financial charges | 65/66B | €51,820 | €36,529 | -€15,291 | -29.5% |
| Recurring financial charges | 65 | €51,820 | €36,529 | -€15,291 | -29.5% |
| Profit (loss) for the period before taxes | 9903 | €189,434 | €197,607 | +€8,173 | +4.3% |
| Income taxes | 67/77 | €47,468 | €29,869 | -€17,598 | -37.1% |
| Profit (loss) for the period | 9904 | €141,967 | €167,738 | +€25,771 | +18.2% |
| Profit (loss) for the period to be appropriated | 9905 | €141,967 | €167,738 | +€25,771 | +18.2% |
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 25 October 2026 via checked.be.