FT 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.
FT HORIZON
Largest movements
- Cash -€970
down €970 (-58.8%), from €1,649 to €679
mainly Net result for the year (-€5,869) and Trade debts (-€84)
- Deferred charges and accrued income -€71
down €71 (-100.0%), from €71 to €0
- Profit (loss) carried forward -€5,869
down €5,869 (-46.0%), from -€12,759 to -€18,628
- Debts after one year +€4,911
up €4,911 (+44.3%), from €11,092 to €16,003
- Trade debts -€84
down €84 (-4.4%), from €1,887 to €1,804
- Gross operating margin -€1,871
down €1,871 (-61.0%), from -€3,068 to -€4,939
- Other operating charges +€162
up €162 (+41.9%), from €387 to €550
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,720 | €679 | -€1,041 | -60.5% |
| Current assets | 29/58 | €1,720 | €679 | -€1,041 | -60.5% |
| Cash at bank and in hand | 54/58 | €1,649 | €679 | -€970 | -58.8% |
| Deferred charges and accrued income | 490/1 | €71 | €0 | -€71 | -100.0% |
| Total equity and liabilities | 10/49 | €1,720 | €679 | -€1,041 | -60.5% |
| Equity | 10/15 | -€11,259 | -€17,128 | -€5,869 | -52.1% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,759 | -€18,628 | -€5,869 | -46.0% |
| Amounts payable | 17/49 | €12,979 | €17,807 | +€4,828 | +37.2% |
| Amounts payable after more than one year | 17 | €11,092 | €16,003 | +€4,911 | +44.3% |
| Other amounts payable | 178/9 | €11,092 | €16,003 | +€4,911 | +44.3% |
| Amounts payable within one year | 42/48 | €1,887 | €1,804 | -€84 | -4.4% |
| Trade debts | 44 | €1,887 | €1,804 | -€84 | -4.4% |
| Suppliers | 440/4 | €1,887 | €1,804 | -€84 | -4.4% |
| Other operating charges | 640/8 | €387 | €550 | +€162 | +41.9% |
| Gross operating margin | 9900 | -€3,068 | -€4,939 | -€1,871 | -61.0% |
| Operating profit (loss) | 9901 | -€3,456 | -€5,489 | -€2,033 | -58.8% |
| Financial charges | 65/66B | €333 | €381 | +€47 | +14.1% |
| Recurring financial charges | 65 | €333 | €381 | +€47 | +14.1% |
| Profit (loss) for the period before taxes | 9903 | -€3,789 | -€5,869 | -€2,080 | -54.9% |
| Profit (loss) for the period | 9904 | -€3,789 | -€5,869 | -€2,080 | -54.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,789 | -€5,869 | -€2,080 | -54.9% |
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 9 October 2026 via checked.be.