HORIDIS: 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.
HORIDIS
Largest movements
- Current investments -€265,153
down €265,153 (-26.1%), from €1.0m to €750,631
- Cash -€61,487
down €61,487 (-51.0%), from €120,676 to €59,190
mainly Other debts (-€385,196) and Net result for the year (-€111,323)
- Receivables within one year +€44,955
up €44,955 (+1.9%), from €2.3m to €2.4m
of which Other amounts receivable: +€44,955
- Other debts -€385,196
down €385,196 (-64.7%), from €595,001 to €209,806
- Revaluation surpluses +€260,488
up €260,488 (+43.2%), from €603,414 to €863,902
- Profit (loss) carried forward -€111,323
down €111,323 (-7.0%), from €1.6m to €1.5m
- Write-downs +€100,000
up €100,000, from -€100,000 to €0
- Financial charges +€10,238
up €10,238 (+8.1%), from €125,789 to €136,026
- Gross operating margin -€10,223
down €10,223, from €3,363 to -€6,860
- Financial income -€8,855
down €8,855 (-20.5%), from €43,119 to €34,265
- Taxes +€3,697
up €3,697, from -€2,811 to €886
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 | €3,715,825 | €3,433,324 | -€282,501 | -7.6% |
| Fixed assets | 21/28 | €273,840 | €273,023 | -€816 | -0.3% |
| Tangible fixed assets | 22/27 | €1,126 | €309 | -€816 | -72.5% |
| Land and buildings | 22 | €1,126 | €309 | -€816 | -72.5% |
| Financial fixed assets | 28 | €272,714 | €272,714 | = | 0.0% |
| Current assets | 29/58 | €3,441,985 | €3,160,301 | -€281,684 | -8.2% |
| Amounts receivable within one year | 40/41 | €2,305,525 | €2,350,480 | +€44,955 | +1.9% |
| Trade receivables | 40 | €47,131 | €47,131 | = | 0.0% |
| Other amounts receivable | 41 | €2,258,394 | €2,303,349 | +€44,955 | +2.0% |
| Current investments | 50/53 | €1,015,784 | €750,631 | -€265,153 | -26.1% |
| Cash at bank and in hand | 54/58 | €120,676 | €59,190 | -€61,487 | -51.0% |
| Total equity and liabilities | 10/49 | €3,715,825 | €3,433,324 | -€282,501 | -7.6% |
| Equity | 10/15 | €3,067,340 | €3,216,505 | +€149,165 | +4.9% |
| Contributions | 10/11 | €780,000 | €780,000 | = | 0.0% |
| Revaluation surpluses | 12 | €603,414 | €863,902 | +€260,488 | +43.2% |
| Reserves | 13 | €88,484 | €88,484 | = | 0.0% |
| Non-distributable reserves | 130/1 | €78,000 | €78,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €78,000 | €78,000 | = | 0.0% |
| Distributable reserves | 133 | €10,484 | €10,484 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,595,442 | €1,484,119 | -€111,323 | -7.0% |
| Amounts payable | 17/49 | €648,485 | €216,819 | -€431,666 | -66.6% |
| Amounts payable after more than one year | 17 | €3,660 | €3,660 | = | 0.0% |
| Other amounts payable | 178/9 | €3,660 | €3,660 | = | 0.0% |
| Amounts payable within one year | 42/48 | €643,858 | €213,159 | -€430,698 | -66.9% |
| Trade debts | 44 | €11,241 | €1,033 | -€10,208 | -90.8% |
| Suppliers | 440/4 | €11,241 | €1,033 | -€10,208 | -90.8% |
| Taxes, remuneration and social security | 45 | €37,615 | €2,321 | -€35,294 | -93.8% |
| Taxes | 450/3 | €37,615 | €2,321 | -€35,294 | -93.8% |
| Other amounts payable | 47/48 | €595,001 | €209,806 | -€385,196 | -64.7% |
| Accrued charges and deferred income | 492/3 | €968 | €0 | -€968 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €816 | €816 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€100,000 | €0 | +€100,000 | |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | €3,363 | -€6,860 | -€10,223 | |
| Operating profit (loss) | 9901 | €101,579 | -€8,675 | -€110,254 | |
| Financial income | 75/76B | €43,119 | €34,265 | -€8,855 | -20.5% |
| Recurring financial income | 75 | €43,119 | €34,265 | -€8,855 | -20.5% |
| Financial charges | 65/66B | €125,789 | €136,026 | +€10,238 | +8.1% |
| Recurring financial charges | 65 | €125,789 | €136,026 | +€10,238 | +8.1% |
| Profit (loss) for the period before taxes | 9903 | €18,910 | -€110,437 | -€129,347 | |
| Income taxes | 67/77 | -€2,811 | €886 | +€3,697 | |
| Profit (loss) for the period | 9904 | €21,721 | -€111,323 | -€133,044 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,721 | -€111,323 | -€133,044 |
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.