HORIZON CONSULT: 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 CONSULT
Largest movements
- Cash +€32,412
up €32,412 (+20.8%), from €156,147 to €188,559
mainly Net result for the year (+€114,643) and Other debts (+€47,889)
- Receivables within one year -€10,988
down €10,988 (-20.0%), from €54,877 to €43,889
of which Other amounts receivable: -€9,583
- Tangible fixed assets +€2,700
up €2,700 (+131%), from €2,056 to €4,756
of which Other tangible fixed assets: +€3,635
- Other debts +€47,889
up €47,889 (+64.9%), from €73,750 to €121,639
- Tax, wage and social debts -€35,995
down €35,995 (-72.8%), from €49,427 to €13,432
of which Taxes: -€33,995
- Profit (loss) carried forward +€34,643
up €34,643 (+88.8%), from €39,011 to €73,654
- Current portion of long-term debt -€12,550
no longer reported in 2025 (was €12,550)
- Trade debts -€10,081
down €10,081 (-75.7%), from €13,311 to €3,230
- Gross operating margin +€13,977
up €13,977 (+10.0%), from €140,338 to €154,315
- Financial charges +€2,514
up €2,514 (+164%), from €1,537 to €4,052
- Taxes +€2,490
up €2,490 (+8.0%), from €31,276 to €33,767
- Other operating charges -€1,585
no longer reported in 2025 (was €1,585)
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 | €213,298 | €237,204 | +€23,905 | +11.2% |
| Formation expenses | 20 | €205 | - | -€205 | |
| Fixed assets | 21/28 | €2,056 | €4,756 | +€2,700 | +131% |
| Tangible fixed assets | 22/27 | €2,056 | €4,756 | +€2,700 | +131% |
| Furniture and vehicles | 24 | €2,056 | €1,120 | -€936 | -45.5% |
| Other tangible fixed assets | 26 | - | €3,635 | +€3,635 | |
| Current assets | 29/58 | €211,038 | €232,448 | +€21,410 | +10.1% |
| Amounts receivable within one year | 40/41 | €54,877 | €43,889 | -€10,988 | -20.0% |
| Trade receivables | 40 | €45,294 | €43,889 | -€1,405 | -3.1% |
| Other amounts receivable | 41 | €9,583 | - | -€9,583 | |
| Cash at bank and in hand | 54/58 | €156,147 | €188,559 | +€32,412 | +20.8% |
| Deferred charges and accrued income | 490/1 | €14 | - | -€14 | |
| Total equity and liabilities | 10/49 | €213,298 | €237,204 | +€23,905 | +11.2% |
| Equity | 10/15 | €64,011 | €98,654 | +€34,643 | +54.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,011 | €73,654 | +€34,643 | +88.8% |
| Amounts payable | 17/49 | €149,288 | €138,550 | -€10,738 | -7.2% |
| Amounts payable within one year | 42/48 | €149,038 | €138,300 | -€10,738 | -7.2% |
| Current portion of amounts payable after more than one year | 42 | €12,550 | - | -€12,550 | |
| Trade debts | 44 | €13,311 | €3,230 | -€10,081 | -75.7% |
| Suppliers | 440/4 | €13,311 | €3,230 | -€10,081 | -75.7% |
| Taxes, remuneration and social security | 45 | €49,427 | €13,432 | -€35,995 | -72.8% |
| Taxes | 450/3 | €47,427 | €13,432 | -€33,995 | -71.7% |
| Remuneration and social security | 454/9 | €2,000 | - | -€2,000 | |
| Other amounts payable | 47/48 | €73,750 | €121,639 | +€47,889 | +64.9% |
| Accrued charges and deferred income | 492/3 | €250 | €250 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €250 | - | -€250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,266 | €1,853 | +€588 | +46.4% |
| Other operating charges | 640/8 | €1,585 | - | -€1,585 | |
| Gross operating margin | 9900 | €140,338 | €154,315 | +€13,977 | +10.0% |
| Operating profit (loss) | 9901 | €137,237 | €152,461 | +€15,224 | +11.1% |
| Financial income | 75/76B | €348 | - | -€348 | |
| Recurring financial income | 75 | €348 | - | -€348 | |
| Financial charges | 65/66B | €1,537 | €4,052 | +€2,514 | +164% |
| Recurring financial charges | 65 | €1,537 | €4,052 | +€2,514 | +164% |
| Profit (loss) for the period before taxes | 9903 | €136,047 | €148,410 | +€12,362 | +9.1% |
| Income taxes | 67/77 | €31,276 | €33,767 | +€2,490 | +8.0% |
| Profit (loss) for the period | 9904 | €104,771 | €114,643 | +€9,872 | +9.4% |
| Profit (loss) for the period to be appropriated | 9905 | €104,771 | €114,643 | +€9,872 | +9.4% |
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 21 October 2026 via checked.be.