HORESCUM: what changed
Two fiscal 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.
HORESCUM
Largest movements
- Cash +€26,636
up €26,636 (+95.4%), from €27,915 to €54,550
mainly Accrued charges and deferred income (+€41,346) and Receivables within one year (+€26,266)
- Receivables within one year -€26,266
down €26,266 (-29.9%), from €87,864 to €61,598
of which Trade receivables: -€26,308
- Stocks and contracts +€25,333
up €25,333 (+7.0%), from €362,995 to €388,328
- Accrued charges and deferred income +€41,346
up €41,346 (+326.8%), from €12,654 to €54,000
- Profit (loss) carried forward -€41,025
down €41,025 (-15.3%), from €268,547 to €227,522
- Trade debts +€20,997
up €20,997 (+30.0%), from €70,077 to €91,073
- Gross operating margin -€38,159
down €38,159 (-70.3%), from €54,256 to €16,096
- Staff costs +€10,348
up €10,348 (+26.3%), from €39,382 to €49,730
- Financial charges -€8,503
down €8,503 (-75.8%), from €11,212 to €2,710
- Other operating charges +€4,054
up €4,054 (+166.8%), from €2,430 to €6,483
- Financial income +€1,511
up €1,511 (+117.1%), from €1,291 to €2,802
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.
Cash bridge derived
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 | €488,081 | €511,542 | +€23,461 | +4.8% |
| Fixed assets | 21/28 | €7,610 | €6,810 | -€800 | -10.5% |
| Tangible fixed assets | 22/27 | €7,610 | €6,810 | -€800 | -10.5% |
| Other tangible fixed assets | 26 | €7,610 | €6,810 | -€800 | -10.5% |
| Current assets | 29/58 | €480,471 | €504,732 | +€24,261 | +5.0% |
| Stocks and contracts in progress | 3 | €362,995 | €388,328 | +€25,333 | +7.0% |
| Stocks | 30/36 | €362,995 | €388,328 | +€25,333 | +7.0% |
| Amounts receivable within one year | 40/41 | €87,864 | €61,598 | -€26,266 | -29.9% |
| Trade receivables | 40 | €87,864 | €61,556 | -€26,308 | -29.9% |
| Other amounts receivable | 41 | - | €42 | +€42 | |
| Cash at bank and in hand | 54/58 | €27,915 | €54,550 | +€26,636 | +95.4% |
| Deferred charges and accrued income | 490/1 | €1,697 | €256 | -€1,442 | -84.9% |
| Total equity and liabilities | 10/49 | €488,081 | €511,542 | +€23,461 | +4.8% |
| Equity | 10/15 | €336,717 | €295,692 | -€41,025 | -12.2% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €6,197 | €6,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | €268,547 | €227,522 | -€41,025 | -15.3% |
| Amounts payable | 17/49 | €151,364 | €215,850 | +€64,486 | +42.6% |
| Amounts payable within one year | 42/48 | €138,710 | €161,850 | +€23,139 | +16.7% |
| Trade debts | 44 | €70,077 | €91,073 | +€20,997 | +30.0% |
| Suppliers | 440/4 | €70,077 | €91,073 | +€20,997 | +30.0% |
| Taxes, remuneration and social security | 45 | €38,612 | €40,754 | +€2,143 | +5.6% |
| Taxes | 450/3 | €13,625 | €18,331 | +€4,706 | +34.5% |
| Remuneration and social security | 454/9 | €24,986 | €22,423 | -€2,563 | -10.3% |
| Other amounts payable | 47/48 | €30,022 | €30,022 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €12,654 | €54,000 | +€41,346 | +326.8% |
| Non-recurring operating income | 76A | - | €53 | +€53 | |
| Remuneration, social security and pensions | 62 | €39,382 | €49,730 | +€10,348 | +26.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €390 | €800 | +€410 | +105.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €200 | +€200 | |
| Other operating charges | 640/8 | €2,430 | €6,483 | +€4,054 | +166.8% |
| Gross operating margin | 9900 | €54,256 | €16,096 | -€38,159 | -70.3% |
| Operating profit (loss) | 9901 | €12,054 | -€41,117 | -€53,171 | |
| Financial income | 75/76B | €1,291 | €2,802 | +€1,511 | +117.1% |
| Recurring financial income | 75 | €1,291 | €2,802 | +€1,511 | +117.1% |
| Financial charges | 65/66B | €11,212 | €2,710 | -€8,503 | -75.8% |
| Recurring financial charges | 65 | €11,212 | €2,710 | -€8,503 | -75.8% |
| Profit (loss) for the period before taxes | 9903 | €2,132 | -€41,025 | -€43,157 | |
| Profit (loss) for the period | 9904 | €2,132 | -€41,025 | -€43,157 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,132 | -€41,025 | -€43,157 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.