HET TURFHOF: 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.
HET TURFHOF
Largest movements
- Cash +€104,916
up €104,916 (+773%), from €13,579 to €118,495
mainly Current investments (+€100,000) and Net result for the year (+€14,930)
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Receivables within one year +€36,172
up €36,172 (+96.3%), from €37,550 to €73,722
of which Other amounts receivable: +€38,524
- Tangible fixed assets -€11,807
down €11,807 (-34.8%), from €33,925 to €22,118
of which Furniture and vehicles: -€11,807
- Profit (loss) carried forward +€14,930
up €14,930 (+22.8%), from €65,566 to €80,496
- Trade debts +€7,648
up €7,648 (+265%), from €2,883 to €10,531
- Tax, wage and social debts +€7,546
up €7,546 (+364%), from €2,076 to €9,621
- Gross operating margin +€5,232
up €5,232 (+22.2%), from €23,573 to €28,805
- Taxes +€1,430
up €1,430 (+35.3%), from €4,051 to €5,481
- Depreciation -€956
down €956 (-7.5%), from €12,762 to €11,807
- Other operating charges +€478
up €478 (+38.8%), from €1,233 to €1,711
- Financial income -€424
down €424 (-7.5%), from €5,633 to €5,209
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 | €187,987 | €217,597 | +€29,611 | +15.8% |
| Fixed assets | 21/28 | €35,073 | €23,266 | -€11,807 | -33.7% |
| Tangible fixed assets | 22/27 | €33,925 | €22,118 | -€11,807 | -34.8% |
| Land and buildings | 22 | €1,500 | €1,500 | = | 0.0% |
| Furniture and vehicles | 24 | €32,425 | €20,618 | -€11,807 | -36.4% |
| Financial fixed assets | 28 | €1,148 | €1,148 | = | 0.0% |
| Current assets | 29/58 | €152,914 | €194,331 | +€41,417 | +27.1% |
| Amounts receivable within one year | 40/41 | €37,550 | €73,722 | +€36,172 | +96.3% |
| Trade receivables | 40 | €4,817 | €2,465 | -€2,353 | -48.8% |
| Other amounts receivable | 41 | €32,733 | €71,257 | +€38,524 | +118% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €13,579 | €118,495 | +€104,916 | +773% |
| Deferred charges and accrued income | 490/1 | €1,784 | €2,114 | +€330 | +18.5% |
| Total equity and liabilities | 10/49 | €187,987 | €217,597 | +€29,611 | +15.8% |
| Equity | 10/15 | €182,515 | €197,445 | +€14,930 | +8.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €54,949 | €54,949 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €48,749 | €48,749 | = | 0.0% |
| Profit (loss) carried forward | 14 | €65,566 | €80,496 | +€14,930 | +22.8% |
| Amounts payable | 17/49 | €5,472 | €20,153 | +€14,681 | +268% |
| Amounts payable within one year | 42/48 | €4,959 | €20,153 | +€15,194 | +306% |
| Trade debts | 44 | €2,883 | €10,531 | +€7,648 | +265% |
| Suppliers | 440/4 | €2,883 | €10,531 | +€7,648 | +265% |
| Taxes, remuneration and social security | 45 | €2,076 | €9,621 | +€7,546 | +364% |
| Taxes | 450/3 | €2,076 | €9,621 | +€7,546 | +364% |
| Accrued charges and deferred income | 492/3 | €513 | - | -€513 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,762 | €11,807 | -€956 | -7.5% |
| Other operating charges | 640/8 | €1,233 | €1,711 | +€478 | +38.8% |
| Gross operating margin | 9900 | €23,573 | €28,805 | +€5,232 | +22.2% |
| Operating profit (loss) | 9901 | €9,577 | €15,287 | +€5,710 | +59.6% |
| Financial income | 75/76B | €5,633 | €5,209 | -€424 | -7.5% |
| Recurring financial income | 75 | €5,633 | €5,209 | -€424 | -7.5% |
| Financial charges | 65/66B | €222 | €84 | -€138 | -62.0% |
| Recurring financial charges | 65 | €222 | €84 | -€138 | -62.0% |
| Profit (loss) for the period before taxes | 9903 | €14,988 | €20,411 | +€5,423 | +36.2% |
| Income taxes | 67/77 | €4,051 | €5,481 | +€1,430 | +35.3% |
| Profit (loss) for the period | 9904 | €10,937 | €14,930 | +€3,993 | +36.5% |
| Profit (loss) for the period to be appropriated | 9905 | €10,937 | €14,930 | +€3,993 | +36.5% |
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.