FLASH HORIZON: 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.
What changed
FLASH HORIZON
NACE 68.310, Real estate agency activities
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€29,743
2024 · €33,454-€3,712
Equity
€84,848
2024 · €70,105+€14,743
Cash
€16,084
2024 · €12,837+€3,247
Balance sheet total
€325,952
2024 · €332,690-€6,739
Largest movements
Assets
- Tangible fixed assets -€11,739
down €11,739 (-4.5%), from €258,737 to €246,999
of which Land and buildings: -€6,960
Equity and liabilities
- Profit (loss) carried forward +€14,743
up €14,743 (+29.7%), from €49,653 to €64,396
- Debts after one year -€13,431
down €13,431 (-6.9%), from €195,208 to €181,778
- Trade debts -€9,038
down €9,038 (-34.2%), from €26,465 to €17,427
Income statement
- Gross operating margin -€31,713
down €31,713 (-16.5%), from €191,672 to €159,959
- Staff costs -€19,937
down €19,937 (-19.2%), from €103,674 to €83,737
- Other operating charges -€3,954
down €3,954 (-49.1%), from €8,055 to €4,101
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.
Result 2024
€33,454
Gross operating margin
-€31,713
Staff costs
+€19,937
Depreciation
+€1,417
Other operating charges
+€3,954
Other operating items
-€200
Financial income
-€2
Financial charges
+€1,024
Taxes
+€1,872
Result 2025
€29,743
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.
From operations
+€37,772
Investment
-€6,555
Financing
-€27,971
Cash 2024
€12,837
From operations (derived)
+€37,772
Net result for the year
+€29,743
Depreciation
+€17,243
Receivables within one year
-€1,280
Deferred charges and accrued income
+€577
Trade debts
-€9,038
Tax, wage and social debts
-€1,193
Other debts
+€1,756
Accrued charges and deferred income
-€35
Investment (derived)
-€6,555
Investment in fixed assets (net)
-€6,555
Financing
-€27,971
Debts after one year
-€13,431
Current portion of long-term debt
+€460
Contributions, distributions and other
-€15,000
Cash 2025
€16,084
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €332,690 | €325,952 | -€6,739 | -2.0% |
| Fixed assets | 21/28 | €263,040 | €252,351 | -€10,688 | -4.1% |
| Tangible fixed assets | 22/27 | €258,737 | €246,999 | -€11,739 | -4.5% |
| Land and buildings | 22 | €218,570 | €211,610 | -€6,960 | -3.2% |
| Plant, machinery and equipment | 23 | €1,455 | €970 | -€485 | -33.3% |
| Furniture and vehicles | 24 | €18,303 | €17,350 | -€952 | -5.2% |
| Other tangible fixed assets | 26 | €20,410 | €17,068 | -€3,342 | -16.4% |
| Financial fixed assets | 28 | €4,302 | €5,353 | +€1,050 | +24.4% |
| Current assets | 29/58 | €69,651 | €73,601 | +€3,950 | +5.7% |
| Amounts receivable within one year | 40/41 | €51,807 | €53,087 | +€1,280 | +2.5% |
| Trade receivables | 40 | €22,417 | €32,223 | +€9,806 | +43.7% |
| Other amounts receivable | 41 | €29,391 | €20,864 | -€8,527 | -29.0% |
| Cash at bank and in hand | 54/58 | €12,837 | €16,084 | +€3,247 | +25.3% |
| Deferred charges and accrued income | 490/1 | €5,006 | €4,429 | -€577 | -11.5% |
| Total equity and liabilities | 10/49 | €332,690 | €325,952 | -€6,739 | -2.0% |
| Equity | 10/15 | €70,105 | €84,848 | +€14,743 | +21.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 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 | €49,653 | €64,396 | +€14,743 | +29.7% |
| Amounts payable | 17/49 | €262,585 | €241,104 | -€21,481 | -8.2% |
| Amounts payable after more than one year | 17 | €195,208 | €181,778 | -€13,431 | -6.9% |
| Financial debts | 170/4 | €195,208 | €181,778 | -€13,431 | -6.9% |
| Amounts payable within one year | 42/48 | €66,814 | €58,799 | -€8,015 | -12.0% |
| Current portion of amounts payable after more than one year | 42 | €14,070 | €14,531 | +€460 | +3.3% |
| Trade debts | 44 | €26,465 | €17,427 | -€9,038 | -34.2% |
| Suppliers | 440/4 | €26,465 | €17,427 | -€9,038 | -34.2% |
| Taxes, remuneration and social security | 45 | €10,588 | €9,395 | -€1,193 | -11.3% |
| Taxes | 450/3 | - | €945 | +€945 | |
| Remuneration and social security | 454/9 | €10,588 | €8,450 | -€2,138 | -20.2% |
| Other amounts payable | 47/48 | €15,691 | €17,447 | +€1,756 | +11.2% |
| Accrued charges and deferred income | 492/3 | €562 | €527 | -€35 | -6.2% |
| Remuneration, social security and pensions | 62 | €103,674 | €83,737 | -€19,937 | -19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,661 | €17,243 | -€1,417 | -7.6% |
| Other operating charges | 640/8 | €8,055 | €4,101 | -€3,954 | -49.1% |
| Non-recurring operating charges | 66A | €1,300 | €1,500 | +€200 | +15.4% |
| Gross operating margin | 9900 | €191,672 | €159,959 | -€31,713 | -16.5% |
| Operating profit (loss) | 9901 | €59,983 | €53,378 | -€6,605 | -11.0% |
| Financial income | 75/76B | €132 | €130 | -€2 | -1.6% |
| Recurring financial income | 75 | €132 | €130 | -€2 | -1.6% |
| Financial charges | 65/66B | €11,305 | €10,281 | -€1,024 | -9.1% |
| Recurring financial charges | 65 | €11,305 | €10,281 | -€1,024 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €48,810 | €43,226 | -€5,583 | -11.4% |
| Income taxes | 67/77 | €15,355 | €13,484 | -€1,872 | -12.2% |
| Profit (loss) for the period | 9904 | €33,454 | €29,743 | -€3,712 | -11.1% |
| Profit (loss) for the period to be appropriated | 9905 | €33,454 | €29,743 | -€3,712 | -11.1% |
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 12 October 2026 via checked.be.