Horeland: 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.
Horeland
Largest movements
- Receivables within one year -€5,854
down €5,854 (-57.9%), from €10,108 to €4,254
- Stocks and contracts +€1,850
up €1,850 (+24.2%), from €7,645 to €9,495
- Cash +€398
up €398 (+255%), from €156 to €554
mainly Other debts (+€10,506) and Trade debts (+€5,886)
- Other debts +€10,506
up €10,506 (+351%), from €2,990 to €13,496
- Profit (loss) carried forward -€9,655
down €9,655 (-9.2%), from -€105,069 to -€114,724
- Tax, wage and social debts -€7,099
down €7,099 (-69.7%), from €10,191 to €3,092
- Trade debts +€5,886
up €5,886 (+54.8%), from €10,741 to €16,626
- Short-term financial debts -€3,244
down €3,244 (-42.7%), from €7,602 to €4,358
- Gross operating margin +€7,820
up €7,820 (+59.5%), from -€13,144 to -€5,324
- Other operating charges -€1,388
down €1,388 (-38.0%), from €3,652 to €2,264
- Financial charges +€163
up €163 (+11.7%), from €1,399 to €1,563
of which Non-recurring financial charges: +€118
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 | €20,899 | €17,293 | -€3,606 | -17.3% |
| Fixed assets | 21/28 | €2,990 | €2,990 | = | 0.0% |
| Financial fixed assets | 28 | €2,990 | €2,990 | = | 0.0% |
| Current assets | 29/58 | €17,909 | €14,303 | -€3,606 | -20.1% |
| Stocks and contracts in progress | 3 | €7,645 | €9,495 | +€1,850 | +24.2% |
| Stocks | 30/36 | €7,645 | €9,495 | +€1,850 | +24.2% |
| Amounts receivable within one year | 40/41 | €10,108 | €4,254 | -€5,854 | -57.9% |
| Other amounts receivable | 41 | €10,108 | €4,254 | -€5,854 | -57.9% |
| Cash at bank and in hand | 54/58 | €156 | €554 | +€398 | +255% |
| Total equity and liabilities | 10/49 | €20,899 | €17,293 | -€3,606 | -17.3% |
| Equity | 10/15 | -€10,625 | -€20,280 | -€9,655 | -90.9% |
| Contributions | 10/11 | €89,800 | €89,800 | = | 0.0% |
| Reserves | 13 | €4,644 | €4,644 | = | 0.0% |
| Non-distributable reserves | 130/1 | €36 | €36 | = | 0.0% |
| Reserves not available under the articles | 1311 | €36 | €36 | = | 0.0% |
| Distributable reserves | 133 | €4,609 | €4,609 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€105,069 | -€114,724 | -€9,655 | -9.2% |
| Amounts payable | 17/49 | €31,523 | €37,572 | +€6,049 | +19.2% |
| Amounts payable within one year | 42/48 | €31,523 | €37,572 | +€6,049 | +19.2% |
| Financial debts | 43 | €7,602 | €4,358 | -€3,244 | -42.7% |
| Credit institutions | 430/8 | €7,602 | €4,358 | -€3,244 | -42.7% |
| Trade debts | 44 | €10,741 | €16,626 | +€5,886 | +54.8% |
| Suppliers | 440/4 | €10,741 | €16,626 | +€5,886 | +54.8% |
| Taxes, remuneration and social security | 45 | €10,191 | €3,092 | -€7,099 | -69.7% |
| Taxes | 450/3 | €10,191 | €3,092 | -€7,099 | -69.7% |
| Other amounts payable | 47/48 | €2,990 | €13,496 | +€10,506 | +351% |
| Other operating charges | 640/8 | €3,652 | €2,264 | -€1,388 | -38.0% |
| Non-recurring operating charges | 66A | €1,854 | €545 | -€1,309 | -70.6% |
| Gross operating margin | 9900 | -€13,144 | -€5,324 | +€7,820 | +59.5% |
| Operating profit (loss) | 9901 | -€18,650 | -€8,133 | +€10,517 | +56.4% |
| Financial income | 75/76B | - | €40 | +€40 | |
| Recurring financial income | 75 | - | €40 | +€40 | |
| Financial charges | 65/66B | €1,399 | €1,563 | +€163 | +11.7% |
| Recurring financial charges | 65 | €930 | €975 | +€45 | +4.9% |
| Non-recurring financial charges | 66B | €469 | €587 | +€118 | +25.1% |
| Profit (loss) for the period before taxes | 9903 | -€20,049 | -€9,655 | +€10,394 | +51.8% |
| Profit (loss) for the period | 9904 | -€20,049 | -€9,655 | +€10,394 | +51.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,049 | -€9,655 | +€10,394 | +51.8% |
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 13 October 2026 via checked.be.