Horizen Solutions: 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.
Horizen Solutions
Largest movements
- Receivables within one year +€196,032
up €196,032 (+670.8%), from €29,223 to €225,256
of which Other amounts receivable: +€191,557
- Cash -€102,075
down €102,075 (-99.2%), from €102,854 to €779
mainly Receivables within one year (-€196,032) and Other debts (-€2,765)
- Reserves +€88,196
up €88,196 (+75.1%), from €117,465 to €205,661
- Tax, wage and social debts +€6,920
up €6,920 (+118.4%), from €5,846 to €12,766
- Other debts -€2,765
no longer reported in 2025 (was €2,765)
- Financial income +€5,429
new in 2025: €5,429
- Gross operating margin +€4,029
up €4,029 (+3.8%), from €105,544 to €109,573
- Taxes +€2,980
up €2,980 (+14.5%), from €20,502 to €23,482
- Other operating charges -€2,962
down €2,962 (-84.9%), from €3,490 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 | €136,282 | €228,494 | +€92,211 | +67.7% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €4,205 | €2,459 | -€1,746 | -41.5% |
| Tangible fixed assets | 22/27 | €4,205 | €2,459 | -€1,746 | -41.5% |
| Furniture and vehicles | 24 | €4,205 | €2,459 | -€1,746 | -41.5% |
| Current assets | 29/58 | €132,077 | €226,035 | +€93,958 | +71.1% |
| Amounts receivable within one year | 40/41 | €29,223 | €225,256 | +€196,032 | +670.8% |
| Trade receivables | 40 | €29,223 | €33,699 | +€4,475 | +15.3% |
| Other amounts receivable | 41 | - | €191,557 | +€191,557 | |
| Cash at bank and in hand | 54/58 | €102,854 | €779 | -€102,075 | -99.2% |
| Total equity and liabilities | 10/49 | €136,282 | €228,494 | +€92,211 | +67.7% |
| Equity | 10/15 | €127,465 | €215,661 | +€88,196 | +69.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €117,465 | €205,661 | +€88,196 | +75.1% |
| Distributable reserves | 133 | €117,465 | €205,661 | +€88,196 | +75.1% |
| Amounts payable | 17/49 | €8,817 | €12,832 | +€4,015 | +45.5% |
| Amounts payable within one year | 42/48 | €8,755 | €12,832 | +€4,078 | +46.6% |
| Trade debts | 44 | €144 | €67 | -€77 | -53.6% |
| Suppliers | 440/4 | €144 | €67 | -€77 | -53.6% |
| Taxes, remuneration and social security | 45 | €5,846 | €12,766 | +€6,920 | +118.4% |
| Taxes | 450/3 | €5,846 | €12,766 | +€6,920 | +118.4% |
| Other amounts payable | 47/48 | €2,765 | - | -€2,765 | |
| Accrued charges and deferred income | 492/3 | €62 | - | -€62 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €950 | €1,746 | +€796 | +83.8% |
| Other operating charges | 640/8 | €3,490 | €528 | -€2,962 | -84.9% |
| Gross operating margin | 9900 | €105,544 | €109,573 | +€4,029 | +3.8% |
| Operating profit (loss) | 9901 | €101,104 | €107,299 | +€6,195 | +6.1% |
| Financial income | 75/76B | - | €5,429 | +€5,429 | |
| Recurring financial income | 75 | - | €5,429 | +€5,429 | |
| Financial charges | 65/66B | €1,113 | €1,050 | -€63 | -5.6% |
| Recurring financial charges | 65 | €1,113 | €1,050 | -€63 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €99,991 | €111,678 | +€11,687 | +11.7% |
| Income taxes | 67/77 | €20,502 | €23,482 | +€2,980 | +14.5% |
| Profit (loss) for the period | 9904 | €79,489 | €88,196 | +€8,707 | +11.0% |
| Profit (loss) for the period to be appropriated | 9905 | €79,489 | €88,196 | +€8,707 | +11.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.