HORIZON'AGE: 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'AGE
Largest movements
- Tangible fixed assets +€107,282
up €107,282 (+20850.8%), from €515 to €107,796
of which Land and buildings: +€73,841
- Cash +€31,906
up €31,906 (+291.0%), from €10,965 to €42,871
mainly Debts after one year (+€80,175) and Net result for the year (+€58,138)
- Receivables within one year +€29,464
up €29,464 (+23170.8%), from €127 to €29,591
of which Other amounts receivable: +€26,867
- Deferred charges and accrued income +€2,575
up €2,575 (+14.3%), from €17,964 to €20,539
- Debts after one year +€80,175
new in 2025: €80,175
- Profit (loss) carried forward +€58,138
up €58,138 (+601.8%), from €9,661 to €67,799
- Tax, wage and social debts +€22,808
up €22,808 (+657.9%), from €3,467 to €26,275
of which Taxes: +€15,598
- Current portion of long-term debt +€16,341
new in 2025: €16,341
- Accrued charges and deferred income -€2,452
no longer reported in 2025 (was €2,452)
- Gross operating margin +€155,240
up €155,240 (+806.2%), from €19,256 to €174,495
- Staff costs +€45,049
up €45,049 (+565.2%), from €7,970 to €53,019
- Taxes +€20,428
up €20,428 (+860.9%), from €2,373 to €22,801
- Financial charges +€20,341
up €20,341 (+1619.0%), from €1,256 to €21,598
of which Non-recurring financial charges: +€18,443
- Other operating charges +€13,288
up €13,288 (+11397.2%), from €117 to €13,405
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 | €29,571 | €200,797 | +€171,227 | +579.0% |
| Fixed assets | 21/28 | €515 | €107,796 | +€107,282 | +20850.8% |
| Tangible fixed assets | 22/27 | €515 | €107,796 | +€107,282 | +20850.8% |
| Land and buildings | 22 | - | €73,841 | +€73,841 | |
| Furniture and vehicles | 24 | €515 | €33,955 | +€33,441 | +6499.4% |
| Current assets | 29/58 | €29,056 | €93,001 | +€63,945 | +220.1% |
| Amounts receivable within one year | 40/41 | €127 | €29,591 | +€29,464 | +23170.8% |
| Trade receivables | 40 | - | €2,597 | +€2,597 | |
| Other amounts receivable | 41 | €127 | €26,995 | +€26,867 | +21128.8% |
| Cash at bank and in hand | 54/58 | €10,965 | €42,871 | +€31,906 | +291.0% |
| Deferred charges and accrued income | 490/1 | €17,964 | €20,539 | +€2,575 | +14.3% |
| Total equity and liabilities | 10/49 | €29,571 | €200,797 | +€171,227 | +579.0% |
| Equity | 10/15 | €12,161 | €70,299 | +€58,138 | +478.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,661 | €67,799 | +€58,138 | +601.8% |
| Amounts payable | 17/49 | €17,409 | €130,499 | +€113,089 | +649.6% |
| Amounts payable after more than one year | 17 | - | €80,175 | +€80,175 | |
| Financial debts | 170/4 | - | €80,175 | +€80,175 | |
| Amounts payable within one year | 42/48 | €14,957 | €50,323 | +€35,366 | +236.4% |
| Current portion of amounts payable after more than one year | 42 | - | €16,341 | +€16,341 | |
| Trade debts | 44 | €9,364 | €7,707 | -€1,657 | -17.7% |
| Suppliers | 440/4 | €9,364 | €7,707 | -€1,657 | -17.7% |
| Taxes, remuneration and social security | 45 | €3,467 | €26,275 | +€22,808 | +657.9% |
| Taxes | 450/3 | €2,052 | €17,651 | +€15,598 | +760.0% |
| Remuneration and social security | 454/9 | €1,414 | €8,625 | +€7,210 | +509.8% |
| Other amounts payable | 47/48 | €2,126 | - | -€2,126 | |
| Accrued charges and deferred income | 492/3 | €2,452 | - | -€2,452 | |
| Remuneration, social security and pensions | 62 | €7,970 | €53,019 | +€45,049 | +565.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €446 | €5,568 | +€5,123 | +1149.2% |
| Other operating charges | 640/8 | €117 | €13,405 | +€13,288 | +11397.2% |
| Gross operating margin | 9900 | €19,256 | €174,495 | +€155,240 | +806.2% |
| Operating profit (loss) | 9901 | €10,723 | €102,504 | +€91,780 | +855.9% |
| Financial income | 75/76B | €0 | €32 | +€32 | +324800.0% |
| Recurring financial income | 75 | €0 | €32 | +€32 | +324800.0% |
| Financial charges | 65/66B | €1,256 | €21,598 | +€20,341 | +1619.0% |
| Recurring financial charges | 65 | €1,256 | €3,155 | +€1,898 | +151.1% |
| Non-recurring financial charges | 66B | - | €18,443 | +€18,443 | |
| Profit (loss) for the period before taxes | 9903 | €9,467 | €80,938 | +€71,471 | +755.0% |
| Income taxes | 67/77 | €2,373 | €22,801 | +€20,428 | +860.9% |
| Profit (loss) for the period | 9904 | €7,094 | €58,138 | +€51,044 | +719.5% |
| Profit (loss) for the period to be appropriated | 9905 | €7,094 | €58,138 | +€51,044 | +719.5% |
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 12 October 2026 via checked.be.