HIDDEN HORIZONS: 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.
HIDDEN HORIZONS
Largest movements
- Cash +€442,738
up €442,738 (+143%), from €310,076 to €752,814
mainly Investment in fixed assets (net) (+€300,000) and Current investments (+€133,162)
- Financial fixed assets -€300,000
down €300,000 (-100%), from €300,000 to €0
- Current investments -€133,162
down €133,162 (-29.0%), from €458,768 to €325,605
- Receivables within one year -€52,707
down €52,707 (-73.0%), from €72,207 to €19,500
of which Other amounts receivable: -€43,796
- Reserves -€55,176
down €55,176 (-6.8%), from €805,729 to €750,553
of which Distributable reserves: -€55,176
- Other debts +€13,484
up €13,484 (+843%), from €1,600 to €15,084
- Gross operating margin +€47,308
up €47,308 (+894%), from €5,290 to €52,598
- Taxes +€19,928
up €19,928 (+174%), from €11,463 to €31,391
- Financial income +€10,916
up €10,916 (+31.9%), from €34,213 to €45,129
- Financial charges +€7,387
up €7,387 (+546%), from €1,353 to €8,740
- Other operating charges +€2,274
up €2,274 (+457%), from €498 to €2,772
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,142,102 | €1,099,138 | -€42,964 | -3.8% |
| Fixed assets | 21/28 | €300,000 | €0 | -€300,000 | -100% |
| Financial fixed assets | 28 | €300,000 | €0 | -€300,000 | -100% |
| Current assets | 29/58 | €842,102 | €1,099,138 | +€257,036 | +30.5% |
| Amounts receivable within one year | 40/41 | €72,207 | €19,500 | -€52,707 | -73.0% |
| Trade receivables | 40 | €22,850 | €13,939 | -€8,912 | -39.0% |
| Other amounts receivable | 41 | €49,357 | €5,561 | -€43,796 | -88.7% |
| Current investments | 50/53 | €458,768 | €325,605 | -€133,162 | -29.0% |
| Cash at bank and in hand | 54/58 | €310,076 | €752,814 | +€442,738 | +143% |
| Deferred charges and accrued income | 490/1 | €1,052 | €1,219 | +€167 | +15.9% |
| Total equity and liabilities | 10/49 | €1,142,102 | €1,099,138 | -€42,964 | -3.8% |
| Equity | 10/15 | €1,124,079 | €1,068,903 | -€55,176 | -4.9% |
| Contributions | 10/11 | €314,900 | €314,900 | = | 0.0% |
| Reserves | 13 | €805,729 | €750,553 | -€55,176 | -6.8% |
| Non-distributable reserves | 130/1 | €32,729 | €32,729 | = | 0.0% |
| Reserves not available under the articles | 1311 | €32,729 | €32,729 | = | 0.0% |
| Distributable reserves | 133 | €773,000 | €717,824 | -€55,176 | -7.1% |
| Profit (loss) carried forward | 14 | €3,449 | €3,449 | = | 0.0% |
| Amounts payable | 17/49 | €18,023 | €30,236 | +€12,212 | +67.8% |
| Amounts payable within one year | 42/48 | €18,023 | €30,236 | +€12,212 | +67.8% |
| Trade debts | 44 | €8,923 | €4,624 | -€4,299 | -48.2% |
| Suppliers | 440/4 | €8,923 | €4,624 | -€4,299 | -48.2% |
| Taxes, remuneration and social security | 45 | €7,500 | €10,528 | +€3,028 | +40.4% |
| Taxes | 450/3 | €7,500 | €10,528 | +€3,028 | +40.4% |
| Other amounts payable | 47/48 | €1,600 | €15,084 | +€13,484 | +843% |
| Other operating charges | 640/8 | €498 | €2,772 | +€2,274 | +457% |
| Gross operating margin | 9900 | €5,290 | €52,598 | +€47,308 | +894% |
| Operating profit (loss) | 9901 | €4,791 | €49,826 | +€45,034 | +940% |
| Financial income | 75/76B | €34,213 | €45,129 | +€10,916 | +31.9% |
| Recurring financial income | 75 | €34,213 | €45,129 | +€10,916 | +31.9% |
| Financial charges | 65/66B | €1,353 | €8,740 | +€7,387 | +546% |
| Recurring financial charges | 65 | €1,353 | €8,740 | +€7,387 | +546% |
| Profit (loss) for the period before taxes | 9903 | €37,652 | €86,216 | +€48,564 | +129% |
| Income taxes | 67/77 | €11,463 | €31,391 | +€19,928 | +174% |
| Profit (loss) for the period | 9904 | €26,189 | €54,824 | +€28,635 | +109% |
| Profit (loss) for the period to be appropriated | 9905 | €26,189 | €54,824 | +€28,635 | +109% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.