HORIZON 2030: what changed
HORIZON 2030
Largest movements
- Cash +€36,619
up €36,619 (+81.6%), from €44,890 to €81,509
mainly Net result for the year (+€28,323) and Tax, wage and social debts (+€9,053)
- Receivables within one year -€3,025
down €3,025 (-25.0%), from €12,100 to €9,075
- Reserves +€28,323
up €28,323 (+93.7%), from €30,227 to €58,550
- Tax, wage and social debts +€9,053
up €9,053 (+45.5%), from €19,914 to €28,967
- Other debts -€4,000
down €4,000 (-58.4%), from €6,850 to €2,850
- Taxes +€1,882
up €1,882 (+16.6%), from €11,335 to €13,217
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €56,990 | €90,584 | +€33,594 | +58.9% |
| Current assets | 29/58 | €56,990 | €90,584 | +€33,594 | +58.9% |
| Amounts receivable within one year | 40/41 | €12,100 | €9,075 | -€3,025 | -25.0% |
| Trade receivables | 40 | €12,100 | €9,075 | -€3,025 | -25.0% |
| Cash at bank and in hand | 54/58 | €44,890 | €81,509 | +€36,619 | +81.6% |
| Total equity and liabilities | 10/49 | €56,990 | €90,584 | +€33,594 | +58.9% |
| Equity | 10/15 | €30,227 | €58,550 | +€28,323 | +93.7% |
| Reserves | 13 | €30,227 | €58,550 | +€28,323 | +93.7% |
| Distributable reserves | 133 | €30,227 | €58,550 | +€28,323 | +93.7% |
| Amounts payable | 17/49 | €26,764 | €32,035 | +€5,271 | +19.7% |
| Amounts payable within one year | 42/48 | €26,764 | €32,035 | +€5,271 | +19.7% |
| Trade debts | 44 | - | €218 | +€218 | |
| Suppliers | 440/4 | - | €218 | +€218 | |
| Taxes, remuneration and social security | 45 | €19,914 | €28,967 | +€9,053 | +45.5% |
| Taxes | 450/3 | €19,914 | €28,967 | +€9,053 | +45.5% |
| Other amounts payable | 47/48 | €6,850 | €2,850 | -€4,000 | -58.4% |
| Gross operating margin | 9900 | €41,617 | €41,753 | +€135 | +0.3% |
| Operating profit (loss) | 9901 | €41,617 | €41,753 | +€135 | +0.3% |
| Financial charges | 65/66B | €56 | €212 | +€157 | +282% |
| Recurring financial charges | 65 | €56 | €212 | +€157 | +282% |
| Profit (loss) for the period before taxes | 9903 | €41,562 | €41,541 | -€21 | -0.1% |
| Income taxes | 67/77 | €11,335 | €13,217 | +€1,882 | +16.6% |
| Profit (loss) for the period | 9904 | €30,227 | €28,323 | -€1,904 | -6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €30,227 | €28,323 | -€1,904 | -6.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.