GOORHOF: 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
GOORHOF
NACE 01.430, Raising of horses and other equines
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€10,775
2024 · €16,848-€27,623
Equity
€642,325
2024 · €653,100-€10,775
Cash
€55,314
2024 · €55,685-€370
Balance sheet total
€734,047
2024 · €750,194-€16,147
Largest movements
Assets
- Tangible fixed assets -€12,325
down €12,325 (-1.8%), from €687,052 to €674,727
of which Plant, machinery and equipment: -€16,780
Equity and liabilities
- Reserves -€10,775
down €10,775 (-4.2%), from €258,600 to €247,825
of which Tax-exempt reserves: -€12,562
Income statement
- Gross operating margin -€30,990
down €30,990 (-83.6%), from €37,058 to €6,067
- Depreciation -€1,951
down €1,951 (-8.8%), from €22,276 to €20,325
- Taxes -€1,488
down €1,488 (-89.3%), from €1,666 to €179
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
€16,848
Gross operating margin
-€30,990
Depreciation
+€1,951
Other operating charges
-€5
Financial income
-€7
Financial charges
-€84
Taxes
+€1,488
Deferred taxes and other
+€25
Result 2025
-€10,775
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€7,630
Investment
-€8,000
Financing
€0
Cash 2024
€55,685
From operations (derived)
+€7,630
Net result for the year
-€10,775
Depreciation
+€20,325
Receivables within one year
-€913
Deferred charges and accrued income
+€4,365
Provisions
-€4,187
Trade debts
-€3,793
Tax, wage and social debts
+€1,289
Advances received
+€350
Other debts
+€981
Accrued charges and deferred income
-€12
Investment (derived)
-€8,000
Investment in fixed assets (net)
-€8,000
Cash 2025
€55,314
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €750,194 | €734,047 | -€16,147 | -2.2% |
| Fixed assets | 21/28 | €687,052 | €674,727 | -€12,325 | -1.8% |
| Tangible fixed assets | 22/27 | €687,052 | €674,727 | -€12,325 | -1.8% |
| Land and buildings | 22 | €414,473 | €414,473 | = | 0.0% |
| Plant, machinery and equipment | 23 | €270,012 | €253,232 | -€16,780 | -6.2% |
| Furniture and vehicles | 24 | €2,567 | €7,022 | +€4,455 | +174% |
| Current assets | 29/58 | €63,142 | €59,320 | -€3,822 | -6.1% |
| Amounts receivable within one year | 40/41 | €3,093 | €4,006 | +€913 | +29.5% |
| Trade receivables | 40 | €2,954 | €3,846 | +€892 | +30.2% |
| Other amounts receivable | 41 | €139 | €159 | +€20 | +14.7% |
| Cash at bank and in hand | 54/58 | €55,685 | €55,314 | -€370 | -0.7% |
| Deferred charges and accrued income | 490/1 | €4,365 | - | -€4,365 | |
| Total equity and liabilities | 10/49 | €750,194 | €734,047 | -€16,147 | -2.2% |
| Equity | 10/15 | €653,100 | €642,325 | -€10,775 | -1.6% |
| Contributions | 10/11 | €394,500 | €394,500 | = | 0.0% |
| Capital | 10 | €394,500 | €394,500 | = | 0.0% |
| Issued capital | 100 | €394,500 | €394,500 | = | 0.0% |
| Reserves | 13 | €258,600 | €247,825 | -€10,775 | -4.2% |
| Non-distributable reserves | 130/1 | €39,450 | €39,450 | = | 0.0% |
| Legal reserve | 130 | €39,450 | €39,450 | = | 0.0% |
| Tax-exempt reserves | 132 | €202,485 | €189,924 | -€12,562 | -6.2% |
| Distributable reserves | 133 | €16,665 | €18,451 | +€1,787 | +10.7% |
| Provisions and deferred taxes | 16 | €67,495 | €63,308 | -€4,187 | -6.2% |
| Deferred taxes | 168 | €67,495 | €63,308 | -€4,187 | -6.2% |
| Amounts payable | 17/49 | €29,599 | €28,414 | -€1,185 | -4.0% |
| Amounts payable after more than one year | 17 | €1,950 | €1,950 | = | 0.0% |
| Other amounts payable | 178/9 | €1,950 | €1,950 | = | 0.0% |
| Amounts payable within one year | 42/48 | €27,379 | €26,206 | -€1,173 | -4.3% |
| Trade debts | 44 | €19,315 | €15,522 | -€3,793 | -19.6% |
| Suppliers | 440/4 | €19,315 | €15,522 | -€3,793 | -19.6% |
| Advances received on contracts in progress | 46 | - | €350 | +€350 | |
| Taxes, remuneration and social security | 45 | €3,412 | €4,701 | +€1,289 | +37.8% |
| Taxes | 450/3 | €3,412 | €4,701 | +€1,289 | +37.8% |
| Other amounts payable | 47/48 | €4,652 | €5,633 | +€981 | +21.1% |
| Accrued charges and deferred income | 492/3 | €270 | €258 | -€12 | -4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,276 | €20,325 | -€1,951 | -8.8% |
| Other operating charges | 640/8 | €256 | €261 | +€5 | +2.1% |
| Gross operating margin | 9900 | €37,058 | €6,067 | -€30,990 | -83.6% |
| Operating profit (loss) | 9901 | €14,526 | -€14,519 | -€29,045 | |
| Financial income | 75/76B | €10 | €3 | -€7 | -70.0% |
| Recurring financial income | 75 | €10 | €3 | -€7 | -70.0% |
| Financial charges | 65/66B | €184 | €267 | +€84 | +45.8% |
| Recurring financial charges | 65 | €184 | €267 | +€84 | +45.8% |
| Profit (loss) for the period before taxes | 9903 | €14,353 | -€14,784 | -€29,136 | |
| Transfer from deferred taxes | 780 | €4,162 | €4,187 | +€25 | +0.6% |
| Income taxes | 67/77 | €1,666 | €179 | -€1,488 | -89.3% |
| Profit (loss) for the period | 9904 | €16,848 | -€10,775 | -€27,623 | |
| Transfer from tax-exempt reserves | 789 | €12,486 | €12,562 | +€76 | +0.6% |
| Profit (loss) for the period to be appropriated | 9905 | €29,334 | €1,787 | -€27,547 | -93.9% |
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 21 October 2026 via checked.be.