Horemans Christophe: 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.
Horemans Christophe
Largest movements
- Receivables within one year -€50,616
down €50,616 (-92.6%), from €54,658 to €4,042
- Tangible fixed assets -€28,292
down €28,292 (-83.2%), from €34,019 to €5,727
of which Furniture and vehicles: -€21,068
- Cash -€12,709
down €12,709 (-69.7%), from €18,224 to €5,515
mainly Net result for the year (-€57,185) and Trade debts (-€29,058)
- Stocks and contracts -€3,750
down €3,750 (-40.5%), from €9,254 to €5,504
- Profit (loss) carried forward -€57,185
down €57,185 (-269%), from -€21,240 to -€78,425
- Trade debts -€29,058
down €29,058 (-52.1%), from €55,747 to €26,689
- Tax, wage and social debts -€21,090
down €21,090 (-49.1%), from €42,955 to €21,864
of which Taxes: -€16,477
- Other debts +€11,504
up €11,504 (+38.6%), from €29,817 to €41,320
- Gross operating margin -€62,987
down €62,987 (-36.1%), from €174,567 to €111,580
- Staff costs -€52,296
down €52,296 (-29.8%), from €175,472 to €123,176
- Financial charges +€2,244
up €2,244 (+396%), from €567 to €2,812
- Depreciation -€2,241
down €2,241 (-21.0%), from €10,689 to €8,448
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 | €131,887 | €36,057 | -€95,830 | -72.7% |
| Fixed assets | 21/28 | €49,751 | €20,997 | -€28,754 | -57.8% |
| Intangible fixed assets | 21 | €10,992 | €10,530 | -€462 | -4.2% |
| Tangible fixed assets | 22/27 | €34,019 | €5,727 | -€28,292 | -83.2% |
| Plant, machinery and equipment | 23 | €5,281 | €3,368 | -€1,913 | -36.2% |
| Furniture and vehicles | 24 | €22,248 | €1,180 | -€21,068 | -94.7% |
| Other tangible fixed assets | 26 | €6,491 | €1,178 | -€5,312 | -81.8% |
| Financial fixed assets | 28 | €4,740 | €4,740 | = | 0.0% |
| Current assets | 29/58 | €82,136 | €15,061 | -€67,075 | -81.7% |
| Stocks and contracts in progress | 3 | €9,254 | €5,504 | -€3,750 | -40.5% |
| Stocks | 30/36 | €9,254 | €5,504 | -€3,750 | -40.5% |
| Amounts receivable within one year | 40/41 | €54,658 | €4,042 | -€50,616 | -92.6% |
| Trade receivables | 40 | €54,658 | €4,042 | -€50,616 | -92.6% |
| Cash at bank and in hand | 54/58 | €18,224 | €5,515 | -€12,709 | -69.7% |
| Total equity and liabilities | 10/49 | €131,887 | €36,057 | -€95,830 | -72.7% |
| Equity | 10/15 | €3,368 | -€53,816 | -€57,185 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €6,008 | €6,008 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,148 | €4,148 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,240 | -€78,425 | -€57,185 | -269% |
| Amounts payable | 17/49 | €128,519 | €89,874 | -€38,645 | -30.1% |
| Amounts payable within one year | 42/48 | €128,519 | €89,874 | -€38,645 | -30.1% |
| Trade debts | 44 | €55,747 | €26,689 | -€29,058 | -52.1% |
| Suppliers | 440/4 | €55,747 | €26,689 | -€29,058 | -52.1% |
| Taxes, remuneration and social security | 45 | €42,955 | €21,864 | -€21,090 | -49.1% |
| Taxes | 450/3 | €27,244 | €10,766 | -€16,477 | -60.5% |
| Remuneration and social security | 454/9 | €15,711 | €11,098 | -€4,613 | -29.4% |
| Other amounts payable | 47/48 | €29,817 | €41,320 | +€11,504 | +38.6% |
| Non-recurring operating income | 76A | €4,561 | €0 | -€4,561 | -100% |
| Remuneration, social security and pensions | 62 | €175,472 | €123,176 | -€52,296 | -29.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,689 | €8,448 | -€2,241 | -21.0% |
| Other operating charges | 640/8 | €3,633 | €4,014 | +€381 | +10.5% |
| Non-recurring operating charges | 66A | - | €30,325 | +€30,325 | |
| Gross operating margin | 9900 | €174,567 | €111,580 | -€62,987 | -36.1% |
| Operating profit (loss) | 9901 | -€15,228 | -€54,384 | -€39,156 | -257% |
| Financial income | 75/76B | €76 | €156 | +€80 | +106% |
| Recurring financial income | 75 | €76 | €156 | +€80 | +106% |
| Financial charges | 65/66B | €567 | €2,812 | +€2,244 | +396% |
| Recurring financial charges | 65 | €567 | €2,812 | +€2,244 | +396% |
| Profit (loss) for the period before taxes | 9903 | -€15,719 | -€57,039 | -€41,320 | -263% |
| Income taxes | 67/77 | €144 | €146 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | -€15,864 | -€57,185 | -€41,321 | -260% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,864 | -€57,185 | -€41,321 | -260% |
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 30 October 2026 via checked.be.