FLEURY HORSES: 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.
FLEURY HORSES
Largest movements
- Current investments -€76,529
down €76,529 (-30.2%), from €253,000 to €176,471
- Cash +€29,427
up €29,427 (+1,241%), from €2,371 to €31,798
mainly Current investments (+€76,529) and Other debts (+€28,765)
- Receivables within one year +€8,815
up €8,815 (+32.0%), from €27,543 to €36,358
of which Trade receivables: +€7,944
- Tangible fixed assets -€4,099
down €4,099 (-10.6%), from €38,601 to €34,502
of which Plant, machinery and equipment: -€4,041
- Profit (loss) carried forward -€38,274
down €38,274 (-29.2%), from €131,062 to €92,788
- Trade debts -€31,634
down €31,634 (-51.6%), from €61,285 to €29,651
- Other debts +€28,765
up €28,765 (+34.2%), from €84,080 to €112,845
- Gross operating margin -€287,017
down €287,017, from €249,985 to -€37,032
- Taxes -€48,455
down €48,455, from €48,382 to -€73
- Depreciation -€13,820
down €13,820 (-74.1%), from €18,654 to €4,834
- Financial income +€6,062
up €6,062 (+533%), from €1,137 to €7,199
- Write-downs -€2,841
no longer reported in 2025 (was €2,841)
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 | €334,002 | €293,052 | -€40,950 | -12.3% |
| Fixed assets | 21/28 | €38,964 | €34,865 | -€4,099 | -10.5% |
| Tangible fixed assets | 22/27 | €38,601 | €34,502 | -€4,099 | -10.6% |
| Land and buildings | 22 | €4,780 | €4,580 | -€200 | -4.2% |
| Plant, machinery and equipment | 23 | €30,040 | €25,999 | -€4,041 | -13.5% |
| Furniture and vehicles | 24 | €3,781 | €3,923 | +€142 | +3.8% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €295,038 | €258,187 | -€36,851 | -12.5% |
| Stocks and contracts in progress | 3 | €10,987 | €13,560 | +€2,573 | +23.4% |
| Stocks | 30/36 | €10,987 | €13,560 | +€2,573 | +23.4% |
| Amounts receivable within one year | 40/41 | €27,543 | €36,358 | +€8,815 | +32.0% |
| Trade receivables | 40 | €12,565 | €20,509 | +€7,944 | +63.2% |
| Other amounts receivable | 41 | €14,978 | €15,849 | +€871 | +5.8% |
| Current investments | 50/53 | €253,000 | €176,471 | -€76,529 | -30.2% |
| Cash at bank and in hand | 54/58 | €2,371 | €31,798 | +€29,427 | +1,241% |
| Deferred charges and accrued income | 490/1 | €1,137 | - | -€1,137 | |
| Total equity and liabilities | 10/49 | €334,002 | €293,052 | -€40,950 | -12.3% |
| Equity | 10/15 | €139,122 | €100,848 | -€38,274 | -27.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €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% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €131,062 | €92,788 | -€38,274 | -29.2% |
| Amounts payable | 17/49 | €194,880 | €192,204 | -€2,676 | -1.4% |
| Amounts payable within one year | 42/48 | €194,539 | €192,204 | -€2,335 | -1.2% |
| Trade debts | 44 | €61,285 | €29,651 | -€31,634 | -51.6% |
| Suppliers | 440/4 | €61,285 | €29,651 | -€31,634 | -51.6% |
| Taxes, remuneration and social security | 45 | €49,174 | €49,708 | +€534 | +1.1% |
| Taxes | 450/3 | €48,589 | €49,008 | +€419 | +0.9% |
| Remuneration and social security | 454/9 | €585 | €700 | +€115 | +19.7% |
| Other amounts payable | 47/48 | €84,080 | €112,845 | +€28,765 | +34.2% |
| Accrued charges and deferred income | 492/3 | €341 | - | -€341 | |
| Remuneration, social security and pensions | 62 | €3,629 | €3,074 | -€555 | -15.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,654 | €4,834 | -€13,820 | -74.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,841 | - | -€2,841 | |
| Other operating charges | 640/8 | €543 | €555 | +€12 | +2.2% |
| Gross operating margin | 9900 | €249,985 | -€37,032 | -€287,017 | |
| Operating profit (loss) | 9901 | €224,318 | -€45,495 | -€269,813 | |
| Financial income | 75/76B | €1,137 | €7,199 | +€6,062 | +533% |
| Recurring financial income | 75 | €1,137 | €7,199 | +€6,062 | +533% |
| Financial charges | 65/66B | €62 | €51 | -€11 | -17.7% |
| Recurring financial charges | 65 | €62 | €51 | -€11 | -17.7% |
| Profit (loss) for the period before taxes | 9903 | €225,393 | -€38,347 | -€263,740 | |
| Income taxes | 67/77 | €48,382 | -€73 | -€48,455 | |
| Profit (loss) for the period | 9904 | €177,011 | -€38,274 | -€215,285 | |
| Profit (loss) for the period to be appropriated | 9905 | €177,011 | -€38,274 | -€215,285 |
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 24 October 2026 via checked.be.