EU HORSETRADING: 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.
EU HORSETRADING
Largest movements
- Receivables within one year -€22,019
down €22,019 (-70.4%), from €31,297 to €9,278
of which Trade receivables: -€21,229
- Tangible fixed assets +€9,625
up €9,625 (+2,408%), from €400 to €10,025
of which Furniture and vehicles: +€9,925
- Cash +€6,984
up €6,984 (+152%), from €4,601 to €11,585
mainly Receivables within one year (+€22,019) and Net result for the year (+€16,218)
- Profit (loss) carried forward +€24,543
no longer reported in 2025 (was -€24,543)
- Trade debts -€20,256
down €20,256 (-97.6%), from €20,744 to €489
- Reserves -€8,325
down €8,325 (-45.6%), from €18,255 to €9,930
- Tax, wage and social debts -€1,071
down €1,071 (-58.2%), from €1,840 to €770
of which Remuneration and social security: -€1,479
- Gross operating margin +€42,082
up €42,082, from -€23,185 to €18,897
- Depreciation +€1,635
up €1,635 (+272%), from €602 to €2,237
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 | €36,297 | €31,189 | -€5,109 | -14.1% |
| Fixed assets | 21/28 | €400 | €10,025 | +€9,625 | +2,408% |
| Tangible fixed assets | 22/27 | €400 | €10,025 | +€9,625 | +2,408% |
| Plant, machinery and equipment | 23 | €400 | €100 | -€300 | -75.1% |
| Furniture and vehicles | 24 | - | €9,925 | +€9,925 | |
| Current assets | 29/58 | €35,898 | €21,164 | -€14,734 | -41.0% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €31,297 | €9,278 | -€22,019 | -70.4% |
| Trade receivables | 40 | €23,988 | €2,759 | -€21,229 | -88.5% |
| Other amounts receivable | 41 | €7,309 | €6,519 | -€790 | -10.8% |
| Cash at bank and in hand | 54/58 | €4,601 | €11,585 | +€6,984 | +152% |
| Deferred charges and accrued income | 490/1 | - | €301 | +€301 | |
| Total equity and liabilities | 10/49 | €36,297 | €31,189 | -€5,109 | -14.1% |
| Equity | 10/15 | €13,712 | €29,930 | +€16,218 | +118% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €18,255 | €9,930 | -€8,325 | -45.6% |
| Distributable reserves | 133 | €18,255 | €9,930 | -€8,325 | -45.6% |
| Profit (loss) carried forward | 14 | -€24,543 | - | +€24,543 | |
| Amounts payable | 17/49 | €22,585 | €1,258 | -€21,327 | -94.4% |
| Amounts payable within one year | 42/48 | €22,585 | €1,258 | -€21,327 | -94.4% |
| Trade debts | 44 | €20,744 | €489 | -€20,256 | -97.6% |
| Suppliers | 440/4 | €20,744 | €489 | -€20,256 | -97.6% |
| Taxes, remuneration and social security | 45 | €1,840 | €770 | -€1,071 | -58.2% |
| Taxes | 450/3 | €361 | €770 | +€409 | +113% |
| Remuneration and social security | 454/9 | €1,479 | - | -€1,479 | |
| Non-recurring operating income | 76A | - | €200 | +€200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €602 | €2,237 | +€1,635 | +272% |
| Other operating charges | 640/8 | €880 | €691 | -€189 | -21.5% |
| Gross operating margin | 9900 | -€23,185 | €18,897 | +€42,082 | |
| Operating profit (loss) | 9901 | -€24,667 | €15,969 | +€40,635 | |
| Financial income | 75/76B | €334 | €374 | +€40 | +11.9% |
| Recurring financial income | 75 | €334 | €374 | +€40 | +11.9% |
| Financial charges | 65/66B | €75 | €74 | -€1 | -1.7% |
| Recurring financial charges | 65 | €75 | €74 | -€1 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | -€24,407 | €16,270 | +€40,677 | |
| Income taxes | 67/77 | €135 | €52 | -€84 | -61.9% |
| Profit (loss) for the period | 9904 | -€24,543 | €16,218 | +€40,760 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,543 | €16,218 | +€40,760 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.