HORIZON CONSTRUCT: 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 CONSTRUCT
Largest movements
- Receivables within one year -€533,053
down €533,053 (-48.4%), from €1.1m to €567,264
of which Other amounts receivable: -€647,097
- Deferred charges and accrued income +€328,425
up €328,425 (+13.7%), from €2.4m to €2.7m
- Stocks and contracts +€184,348
up €184,348 (+2.9%), from €6.4m to €6.6m
- Cash -€155,401
down €155,401 (-78.2%), from €198,698 to €43,296
mainly Net result for the year (-€687,828) and Deferred charges and accrued income (-€328,425)
- Profit (loss) carried forward -€687,828
down €687,828 (-9.3%), from -€7.4m to -€8.1m
- Short-term financial debts +€544,310
up €544,310 (+83.3%), from €653,452 to €1.2m
- Advances received -€304,495
down €304,495 (-31.8%), from €956,245 to €651,751
- Other debts +€174,218
up €174,218 (+1.2%), from €14.0m to €14.2m
- Purchases and services +€2.7m
new in 2024: €2.7m
- Turnover +€2.3m
new in 2024: €2.3m
- Gross operating margin +€446,947
up €446,947 (+54.0%), from -€827,289 to -€380,341
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,236,466 | €10,063,891 | -€172,574 | -1.7% |
| Fixed assets | 21/28 | €103,300 | €106,408 | +€3,107 | +3.0% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €57,268 | €66,375 | +€9,107 | +15.9% |
| Furniture and vehicles | 24 | - | €0 | = | |
| Assets under construction and advance payments | 27 | €57,268 | €66,375 | +€9,107 | +15.9% |
| Financial fixed assets | 28 | €46,033 | €40,033 | -€6,000 | -13.0% |
| Current assets | 29/58 | €10,133,165 | €9,957,484 | -€175,682 | -1.7% |
| Stocks and contracts in progress | 3 | €6,433,617 | €6,617,965 | +€184,348 | +2.9% |
| Stocks | 30/36 | €6,433,617 | €6,617,965 | +€184,348 | +2.9% |
| Amounts receivable within one year | 40/41 | €1,100,317 | €567,264 | -€533,053 | -48.4% |
| Trade receivables | 40 | €453,220 | €567,264 | +€114,043 | +25.2% |
| Other amounts receivable | 41 | €647,097 | €0 | -€647,097 | -100.0% |
| Current investments | 50/53 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €198,698 | €43,296 | -€155,401 | -78.2% |
| Deferred charges and accrued income | 490/1 | €2,400,534 | €2,728,959 | +€328,425 | +13.7% |
| Total equity and liabilities | 10/49 | €10,236,466 | €10,063,891 | -€172,574 | -1.7% |
| Equity | 10/15 | -€5,929,943 | -€6,617,771 | -€687,828 | -11.6% |
| Contributions | 10/11 | €1,500,000 | €1,500,000 | = | 0.0% |
| Capital | 10 | €1,500,000 | €1,500,000 | = | 0.0% |
| Issued capital | 100 | €1,500,000 | €1,500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,429,943 | -€8,117,771 | -€687,828 | -9.3% |
| Amounts payable | 17/49 | €16,166,409 | €16,681,663 | +€515,254 | +3.2% |
| Amounts payable within one year | 42/48 | €16,162,526 | €16,679,240 | +€516,714 | +3.2% |
| Financial debts | 43 | €653,452 | €1,197,762 | +€544,310 | +83.3% |
| Credit institutions | 430/8 | €653,452 | €1,197,762 | +€544,310 | +83.3% |
| Trade debts | 44 | €444,838 | €514,058 | +€69,219 | +15.6% |
| Suppliers | 440/4 | €444,838 | €514,058 | +€69,219 | +15.6% |
| Advances received on contracts in progress | 46 | €956,245 | €651,751 | -€304,495 | -31.8% |
| Taxes, remuneration and social security | 45 | €107,891 | €141,352 | +€33,461 | +31.0% |
| Taxes | 450/3 | €107,891 | €141,352 | +€33,461 | +31.0% |
| Other amounts payable | 47/48 | €14,000,100 | €14,174,318 | +€174,218 | +1.2% |
| Accrued charges and deferred income | 492/3 | €3,882 | €2,423 | -€1,460 | -37.6% |
| Turnover | 70 | - | €2,259,339 | +€2.3m | |
| Non-recurring operating income | 76A | €119 | - | -€119 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €2,654,147 | +€2.7m | |
| Remuneration, social security and pensions | 62 | €556 | - | -€556 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €796 | - | -€796 | |
| Other operating charges | 640/8 | €6,337 | €4,047 | -€2,291 | -36.1% |
| Gross operating margin | 9900 | -€827,289 | -€380,341 | +€446,947 | +54.0% |
| Operating profit (loss) | 9901 | -€834,977 | -€384,388 | +€450,589 | +54.0% |
| Financial income | 75/76B | €1 | €826 | +€825 | +56894.5% |
| Recurring financial income | 75 | €1 | €826 | +€825 | +56894.5% |
| Financial charges | 65/66B | €305,037 | €304,267 | -€771 | -0.3% |
| Recurring financial charges | 65 | €305,037 | €304,267 | -€771 | -0.3% |
| Profit (loss) for the period before taxes | 9903 | -€1,140,013 | -€687,828 | +€452,185 | +39.7% |
| Profit (loss) for the period | 9904 | -€1,140,013 | -€687,828 | +€452,185 | +39.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,140,013 | -€687,828 | +€452,185 | +39.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.