HORIZON CHT: 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 CHT
Largest movements
- Receivables within one year -€20,137
down €20,137 (-97.3%), from €20,694 to €557
- Cash -€12,577
down €12,577 (-84.8%), from €14,838 to €2,261
mainly Trade debts (-€12,969) and Net result for the year (-€11,563)
- Tangible fixed assets -€1,288
down €1,288 (-49.8%), from €2,586 to €1,298
of which Furniture and vehicles: -€971
- Trade debts -€12,969
down €12,969 (-26.5%), from €48,991 to €36,022
- Profit (loss) carried forward -€11,563
down €11,563 (-16.3%), from -€71,099 to -€82,662
- Other debts -€10,110
down €10,110 (-19.5%), from €51,956 to €41,847
- Staff costs +€25,173
up €25,173 (+28.4%), from €88,639 to €113,813
- Gross operating margin +€1,347
up €1,347 (+1.3%), from €106,394 to €107,741
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.
Derived cash bridge
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 | €93,860 | €59,731 | -€34,128 | -36.4% |
| Fixed assets | 21/28 | €8,449 | €7,161 | -€1,288 | -15.2% |
| Tangible fixed assets | 22/27 | €2,586 | €1,298 | -€1,288 | -49.8% |
| Furniture and vehicles | 24 | €1,255 | €285 | -€971 | -77.3% |
| Other tangible fixed assets | 26 | €1,331 | €1,014 | -€317 | -23.8% |
| Financial fixed assets | 28 | €5,863 | €5,863 | = | 0.0% |
| Current assets | 29/58 | €85,411 | €52,570 | -€32,841 | -38.5% |
| Stocks and contracts in progress | 3 | €49,878 | €49,752 | -€126 | -0.3% |
| Stocks | 30/36 | €49,878 | €49,752 | -€126 | -0.3% |
| Amounts receivable within one year | 40/41 | €20,694 | €557 | -€20,137 | -97.3% |
| Trade receivables | 40 | €20,694 | €557 | -€20,137 | -97.3% |
| Cash at bank and in hand | 54/58 | €14,838 | €2,261 | -€12,577 | -84.8% |
| Total equity and liabilities | 10/49 | €93,860 | €59,731 | -€34,128 | -36.4% |
| Equity | 10/15 | -€52,499 | -€64,062 | -€11,563 | -22.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€71,099 | -€82,662 | -€11,563 | -16.3% |
| Amounts payable | 17/49 | €146,358 | €123,793 | -€22,565 | -15.4% |
| Amounts payable within one year | 42/48 | €146,358 | €123,793 | -€22,565 | -15.4% |
| Trade debts | 44 | €48,991 | €36,022 | -€12,969 | -26.5% |
| Suppliers | 440/4 | €48,991 | €36,022 | -€12,969 | -26.5% |
| Taxes, remuneration and social security | 45 | €45,411 | €45,924 | +€513 | +1.1% |
| Taxes | 450/3 | €24,416 | €17,559 | -€6,858 | -28.1% |
| Remuneration and social security | 454/9 | €20,995 | €28,366 | +€7,371 | +35.1% |
| Other amounts payable | 47/48 | €51,956 | €41,847 | -€10,110 | -19.5% |
| Remuneration, social security and pensions | 62 | €88,639 | €113,813 | +€25,173 | +28.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,464 | €1,288 | -€176 | -12.0% |
| Gross operating margin | 9900 | €106,394 | €107,741 | +€1,347 | +1.3% |
| Operating profit (loss) | 9901 | €16,291 | -€7,359 | -€23,650 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €3,497 | €4,204 | +€707 | +20.2% |
| Recurring financial charges | 65 | €3,497 | €4,204 | +€707 | +20.2% |
| Profit (loss) for the period before taxes | 9903 | €12,794 | -€11,563 | -€24,357 | |
| Profit (loss) for the period | 9904 | €12,794 | -€11,563 | -€24,357 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,794 | -€11,563 | -€24,357 |
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 20 October 2026 via checked.be.