Horafrost: what changed
What changed
Horafrost
NACE 10.393, Manufacture of food products
filed annual accounts (NBB)
Net result for the year
€9.7m
2023 · €11.4m-€1.7m
Equity
€132.6m
2023 · €128.3m+€4.3m
Cash
€795,913
2023 · €651,449+€144,464
Balance sheet total
€147.3m
2023 · €140.6m+€6.8m
Largest movements
Assets
- Stocks and contracts +€3.3m
up €3.3m (+20.0%), from €16.4m to €19.7m
- Tangible fixed assets +€3.0m
up €3.0m (+32.9%), from €9.0m to €12.0m
of which Plant, machinery and equipment: +€3.1m
Equity and liabilities
- Reserves +€4.3m
up €4.3m (+3.3%), from €128.0m to €132.3m
of which Distributable reserves: +€5.1m
- Trade debts +€2.7m
up €2.7m (+54.9%), from €5.0m to €7.7m
Income statement
- Turnover +€6.8m
up €6.8m (+9.4%), from €72.2m to €79.0m
- Goods and materials +€5.8m
up €5.8m (+13.4%), from €43.1m to €48.8m
of which Purchases: +€5.8m
- Services and other goods +€1.7m
up €1.7m (+10.5%), from €15.9m to €17.6m
Change in the result, 2023 to 2024
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2023
€11.4m
Turnover
+€6.8m
Other operating income
+€89,831
Goods and materials
-€5.8m
Services and other goods
-€1.7m
Staff costs
-€435,009
Depreciation
-€494,138
Provisions
-€297,250
Other operating charges
+€27,868
Other operating items
-€414,608
Financial income
+€61,545
Financial charges
+€9,187
Taxes
+€420,151
Result 2024
€9.7m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2023 and 2024 balance sheets and the 2024 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€10.4m
Investment
-€4.8m
Financing
-€5.5m
Cash 2023
€651,449
From operations (derived)
+€10.4m
Net result for the year
+€9.7m
Depreciation
+€1.8m
Stocks and contracts
-€3.3m
Receivables within one year
-€376,761
Smaller working-capital items
+€23,239
Trade debts
+€2.7m
Tax, wage and social debts
+€459,814
Other debts
-€665,526
Accrued charges and deferred income
-€31,520
Investment (derived)
-€4.8m
Investment in fixed assets (net)
-€4.8m
Financing
-€5.5m
Contributions, distributions and other
-€5.5m
Cash 2024
€795,913
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €140,566,043 | €147,319,975 | +€6.8m | +4.8% |
| Fixed assets | 21/28 | €9,309,773 | €12,287,552 | +€3.0m | +32.0% |
| Tangible fixed assets | 22/27 | €9,040,480 | €12,018,259 | +€3.0m | +32.9% |
| Land and buildings | 22 | €2,712,647 | €2,429,168 | -€283,479 | -10.5% |
| Plant, machinery and equipment | 23 | €6,154,280 | €9,210,173 | +€3.1m | +49.7% |
| Furniture and vehicles | 24 | €173,553 | €378,918 | +€205,365 | +118% |
| Financial fixed assets | 28 | €269,293 | €269,293 | = | 0.0% |
| Affiliated companies | 280/1 | €268,393 | €268,393 | = | 0.0% |
| Participating interests | 280 | €268,393 | €268,393 | = | 0.0% |
| Other financial fixed assets | 284/8 | €900 | €900 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €900 | €900 | = | 0.0% |
| Current assets | 29/58 | €131,256,270 | €135,032,423 | +€3.8m | +2.9% |
| Amounts receivable after more than one year | 29 | €38,200,000 | €38,200,000 | = | 0.0% |
| Other amounts receivable | 291 | €38,200,000 | €38,200,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €16,398,279 | €19,676,641 | +€3.3m | +20.0% |
| Stocks | 30/36 | €16,398,279 | €19,676,641 | +€3.3m | +20.0% |
| Raw materials and consumables | 30/31 | €324,592 | €310,856 | -€13,736 | -4.2% |
| Work in progress | 32 | €15,088,605 | €18,049,907 | +€3.0m | +19.6% |
| Finished goods | 33 | €985,082 | €1,315,878 | +€330,796 | +33.6% |
| Amounts receivable within one year | 40/41 | €75,878,170 | €76,254,931 | +€376,761 | +0.5% |
| Trade receivables | 40 | €15,472,250 | €17,445,359 | +€2.0m | +12.8% |
| Other amounts receivable | 41 | €60,405,920 | €58,809,571 | -€1.6m | -2.6% |
| Cash at bank and in hand | 54/58 | €651,449 | €795,913 | +€144,464 | +22.2% |
| Deferred charges and accrued income | 490/1 | €128,372 | €104,939 | -€23,433 | -18.3% |
| Total equity and liabilities | 10/49 | €140,566,043 | €147,319,975 | +€6.8m | +4.8% |
| Equity | 10/15 | €128,335,841 | €132,600,654 | +€4.3m | +3.3% |
| Contributions | 10/11 | €347,051 | €347,051 | = | 0.0% |
| Capital | 10 | €347,051 | €347,051 | = | 0.0% |
| Issued capital | 100 | €347,051 | €347,051 | = | 0.0% |
| Reserves | 13 | €127,987,436 | €132,252,832 | +€4.3m | +3.3% |
| Non-distributable reserves | 130/1 | €34,705 | €34,705 | = | 0.0% |
| Legal reserve | 130 | €34,705 | €34,705 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,662,867 | €2,845,017 | -€817,850 | -22.3% |
| Distributable reserves | 133 | €124,289,863 | €129,373,109 | +€5.1m | +4.1% |
| Investment grants | 15 | €1,354 | €771 | -€583 | -43.0% |
| Provisions and deferred taxes | 16 | €452,847 | €452,653 | -€194 | 0.0% |
| Provisions for liabilities and charges | 160/5 | €452,396 | €452,396 | = | 0.0% |
| Major repairs and maintenance | 162 | €452,396 | €452,396 | = | 0.0% |
| Deferred taxes | 168 | €451 | €257 | -€194 | -43.0% |
| Amounts payable | 17/49 | €11,777,355 | €14,266,668 | +€2.5m | +21.1% |
| Amounts payable within one year | 42/48 | €11,729,543 | €14,250,376 | +€2.5m | +21.5% |
| Trade debts | 44 | €4,970,702 | €7,697,247 | +€2.7m | +54.9% |
| Suppliers | 440/4 | €4,970,702 | €7,697,247 | +€2.7m | +54.9% |
| Taxes, remuneration and social security | 45 | €610,009 | €1,069,823 | +€459,814 | +75.4% |
| Taxes | 450/3 | €58,104 | €497,327 | +€439,223 | +756% |
| Remuneration and social security | 454/9 | €551,905 | €572,496 | +€20,591 | +3.7% |
| Other amounts payable | 47/48 | €6,148,832 | €5,483,306 | -€665,526 | -10.8% |
| Accrued charges and deferred income | 492/3 | €47,812 | €16,293 | -€31,520 | -65.9% |
| Operating income | 70/76A | €77,627,359 | €84,089,871 | +€6.5m | +8.3% |
| Turnover | 70 | €72,167,490 | €78,954,779 | +€6.8m | +9.4% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €3,706,706 | €3,292,098 | -€414,608 | -11.2% |
| Other operating income | 74 | €1,753,164 | €1,842,995 | +€89,831 | +5.1% |
| Operating charges | 60/66A | €64,624,018 | €73,252,434 | +€8.6m | +13.4% |
| Goods for resale, raw materials and consumables | 60 | €43,050,668 | €48,814,728 | +€5.8m | +13.4% |
| Purchases | 600/8 | €42,989,261 | €48,800,993 | +€5.8m | +13.5% |
| Change in stocks: decrease (increase) | 609 | €61,407 | €13,736 | -€47,672 | -77.6% |
| Services and other goods | 61 | €15,934,782 | €17,600,609 | +€1.7m | +10.5% |
| Remuneration, social security and pensions | 62 | €4,084,721 | €4,519,730 | +€435,009 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,340,334 | €1,834,472 | +€494,138 | +36.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€297,250 | €0 | +€297,250 | |
| Other operating charges | 640/8 | €510,762 | €482,895 | -€27,868 | -5.5% |
| Operating profit (loss) | 9901 | €13,003,341 | €10,837,437 | -€2.2m | -16.7% |
| Financial income | 75/76B | €2,039,060 | €2,100,605 | +€61,545 | +3.0% |
| Recurring financial income | 75 | €2,039,060 | €2,100,605 | +€61,545 | +3.0% |
| Income from financial fixed assets | 750 | €4,021 | €32,166 | +€28,146 | +700% |
| Income from current assets | 751 | €25,771 | €1,339 | -€24,432 | -94.8% |
| Other financial income | 752/9 | €2,009,268 | €2,067,100 | +€57,832 | +2.9% |
| Financial charges | 65/66B | €17,930 | €8,744 | -€9,187 | -51.2% |
| Recurring financial charges | 65 | €17,930 | €8,744 | -€9,187 | -51.2% |
| Debt charges | 650 | €0 | - | = | |
| Other financial charges | 652/9 | €17,930 | €8,744 | -€9,187 | -51.2% |
| Profit (loss) for the period before taxes | 9903 | €15,024,471 | €12,929,299 | -€2.1m | -13.9% |
| Transfer from deferred taxes | 780 | €194 | €194 | = | 0.0% |
| Income taxes | 67/77 | €3,600,942 | €3,180,791 | -€420,151 | -11.7% |
| Taxes | 670/3 | €3,600,942 | €3,180,791 | -€420,151 | -11.7% |
| Profit (loss) for the period | 9904 | €11,423,723 | €9,748,702 | -€1.7m | -14.7% |
| Transfer from tax-exempt reserves | 789 | €135,280 | €1,815,620 | +€1.7m | +1,242% |
| Transfer to tax-exempt reserves | 689 | €997,770 | €997,770 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,561,233 | €10,566,552 | +€5,318 | +0.1% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 December 2023 and 30 December 2024. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.