HORIOS: 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.
HORIOS
Largest movements
- Receivables within one year +€157
up €157 (+201.5%), from €78 to €235
- Other debts +€28,261
up €28,261 (+98.2%), from €28,790 to €57,051
- Tax, wage and social debts -€21,855
no longer reported in 2025 (was €21,855)
- Profit (loss) carried forward -€5,885
down €5,885 (-8.9%), from -€65,956 to -€71,842
- Trade debts -€384
down €384 (-18.8%), from €2,039 to €1,655
- Gross operating margin +€2,744
up €2,744 (+34.2%), from -€8,027 to -€5,283
- Other operating charges -€123
down €123 (-18.9%), from €651 to €528
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.
Cash bridge derived
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 | €7,187 | €7,324 | +€137 | +1.9% |
| Fixed assets | 21/28 | - | €0 | = | |
| Tangible fixed assets | 22/27 | - | €0 | = | |
| Plant, machinery and equipment | 23 | - | €0 | = | |
| Furniture and vehicles | 24 | - | €0 | = | |
| Current assets | 29/58 | €7,187 | €7,324 | +€137 | +1.9% |
| Stocks and contracts in progress | 3 | €4,903 | €4,903 | = | 0.0% |
| Stocks | 30/36 | €4,903 | €4,903 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €78 | €235 | +€157 | +201.5% |
| Other amounts receivable | 41 | €78 | €235 | +€157 | +201.5% |
| Cash at bank and in hand | 54/58 | €2,206 | €2,185 | -€21 | -0.9% |
| Total equity and liabilities | 10/49 | €7,187 | €7,324 | +€137 | +1.9% |
| Equity | 10/15 | -€45,496 | -€51,382 | -€5,885 | -12.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | -€65,956 | -€71,842 | -€5,885 | -8.9% |
| Amounts payable | 17/49 | €52,683 | €58,705 | +€6,022 | +11.4% |
| Amounts payable within one year | 42/48 | €52,683 | €58,705 | +€6,022 | +11.4% |
| Trade debts | 44 | €2,039 | €1,655 | -€384 | -18.8% |
| Suppliers | 440/4 | €2,039 | €1,655 | -€384 | -18.8% |
| Taxes, remuneration and social security | 45 | €21,855 | - | -€21,855 | |
| Remuneration and social security | 454/9 | €21,855 | - | -€21,855 | |
| Other amounts payable | 47/48 | €28,790 | €57,051 | +€28,261 | +98.2% |
| Other operating charges | 640/8 | €651 | €528 | -€123 | -18.9% |
| Gross operating margin | 9900 | -€8,027 | -€5,283 | +€2,744 | +34.2% |
| Operating profit (loss) | 9901 | -€8,679 | -€5,811 | +€2,867 | +33.0% |
| Financial charges | 65/66B | €68 | €74 | +€6 | +9.2% |
| Recurring financial charges | 65 | €68 | €74 | +€6 | +9.2% |
| Profit (loss) for the period before taxes | 9903 | -€8,746 | -€5,885 | +€2,861 | +32.7% |
| Profit (loss) for the period | 9904 | -€8,746 | -€5,885 | +€2,861 | +32.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,746 | -€5,885 | +€2,861 | +32.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.