HORIZON: 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.
HORIZON
Largest movements
- Receivables within one year -€15,822
down €15,822 (-11.5%), from €137,881 to €122,059
of which Other amounts receivable: -€16,864
- Tax, wage and social debts -€17,308
down €17,308 (-87.1%), from €19,862 to €2,555
- Trade debts +€1,517
up €1,517 (+209.4%), from €724 to €2,241
- Gross operating margin +€5,471
up €5,471, from -€3,053 to €2,418
- Financial charges -€819
down €819 (-27.4%), from €2,989 to €2,170
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 | €137,893 | €122,295 | -€15,598 | -11.3% |
| Current assets | 29/58 | €137,893 | €122,295 | -€15,598 | -11.3% |
| Amounts receivable within one year | 40/41 | €137,881 | €122,059 | -€15,822 | -11.5% |
| Trade receivables | 40 | - | €1,042 | +€1,042 | |
| Other amounts receivable | 41 | €137,881 | €121,017 | -€16,864 | -12.2% |
| Cash at bank and in hand | 54/58 | €12 | €236 | +€224 | +1912.1% |
| Total equity and liabilities | 10/49 | €137,893 | €122,295 | -€15,598 | -11.3% |
| Equity | 10/15 | €117,306 | €117,499 | +€193 | +0.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €114,306 | €114,499 | +€193 | +0.2% |
| Amounts payable | 17/49 | €20,587 | €4,796 | -€15,791 | -76.7% |
| Amounts payable within one year | 42/48 | €20,587 | €4,796 | -€15,791 | -76.7% |
| Trade debts | 44 | €724 | €2,241 | +€1,517 | +209.4% |
| Suppliers | 440/4 | €724 | €2,241 | +€1,517 | +209.4% |
| Taxes, remuneration and social security | 45 | €19,862 | €2,555 | -€17,308 | -87.1% |
| Taxes | 450/3 | €19,862 | €2,555 | -€17,308 | -87.1% |
| Non-recurring operating charges | 66A | €1,840 | €55 | -€1,785 | -97.0% |
| Gross operating margin | 9900 | -€3,053 | €2,418 | +€5,471 | |
| Operating profit (loss) | 9901 | -€4,893 | €2,363 | +€7,256 | |
| Financial charges | 65/66B | €2,989 | €2,170 | -€819 | -27.4% |
| Recurring financial charges | 65 | €2,989 | €2,170 | -€819 | -27.4% |
| Profit (loss) for the period before taxes | 9903 | -€7,882 | €193 | +€8,075 | |
| Profit (loss) for the period | 9904 | -€7,882 | €193 | +€8,075 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,882 | €193 | +€8,075 |
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 11 October 2026 via checked.be.