Horizon Consulting: 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 Consulting
Largest movements
- Receivables within one year -€140,195
down €140,195 (-52.3%), from €268,230 to €128,035
of which Other amounts receivable: -€155,814
- Cash +€70,682
up €70,682 (+101%), from €70,158 to €140,840
mainly Receivables within one year (+€140,195) and Net result for the year (+€107,334)
- Deferred charges and accrued income -€6,068
down €6,068 (-24.0%), from €25,335 to €19,267
- Reserves -€102,815
down €102,815 (-26.3%), from €390,681 to €287,866
- Other debts +€27,630
up €27,630 (+64.1%), from €43,072 to €70,702
- Tax, wage and social debts +€6,803
up €6,803 (+31.8%), from €21,367 to €28,170
- Short-term financial debts -€5,158
down €5,158 (-59.5%), from €8,677 to €3,518
- Gross operating margin -€6,660
down €6,660 (-4.0%), from €168,054 to €161,394
- Depreciation +€2,090
up €2,090 (+16.8%), from €12,412 to €14,501
- Financial income +€2,077
up €2,077 (+24.5%), from €8,464 to €10,542
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 | €471,345 | €398,048 | -€73,296 | -15.6% |
| Fixed assets | 21/28 | €107,622 | €109,906 | +€2,284 | +2.1% |
| Tangible fixed assets | 22/27 | €107,622 | €109,906 | +€2,284 | +2.1% |
| Land and buildings | 22 | €51,648 | €61,015 | +€9,366 | +18.1% |
| Plant, machinery and equipment | 23 | €1,502 | €1,132 | -€370 | -24.6% |
| Furniture and vehicles | 24 | €54,472 | €47,759 | -€6,712 | -12.3% |
| Current assets | 29/58 | €363,722 | €288,142 | -€75,580 | -20.8% |
| Amounts receivable within one year | 40/41 | €268,230 | €128,035 | -€140,195 | -52.3% |
| Trade receivables | 40 | €52,106 | €67,725 | +€15,619 | +30.0% |
| Other amounts receivable | 41 | €216,124 | €60,310 | -€155,814 | -72.1% |
| Cash at bank and in hand | 54/58 | €70,158 | €140,840 | +€70,682 | +101% |
| Deferred charges and accrued income | 490/1 | €25,335 | €19,267 | -€6,068 | -24.0% |
| Total equity and liabilities | 10/49 | €471,345 | €398,048 | -€73,296 | -15.6% |
| Equity | 10/15 | €397,381 | €294,566 | -€102,815 | -25.9% |
| Contributions | 10/11 | €6,700 | €6,700 | = | 0.0% |
| Reserves | 13 | €390,681 | €287,866 | -€102,815 | -26.3% |
| Distributable reserves | 133 | €390,681 | €287,866 | -€102,815 | -26.3% |
| Amounts payable | 17/49 | €73,964 | €103,483 | +€29,519 | +39.9% |
| Amounts payable within one year | 42/48 | €73,964 | €103,483 | +€29,519 | +39.9% |
| Financial debts | 43 | €8,677 | €3,518 | -€5,158 | -59.5% |
| Credit institutions | 430/8 | €8,677 | €3,518 | -€5,158 | -59.5% |
| Trade debts | 44 | €848 | €1,092 | +€244 | +28.8% |
| Suppliers | 440/4 | €848 | €1,092 | +€244 | +28.8% |
| Taxes, remuneration and social security | 45 | €21,367 | €28,170 | +€6,803 | +31.8% |
| Taxes | 450/3 | €21,367 | €28,170 | +€6,803 | +31.8% |
| Other amounts payable | 47/48 | €43,072 | €70,702 | +€27,630 | +64.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,412 | €14,501 | +€2,090 | +16.8% |
| Other operating charges | 640/8 | €562 | €764 | +€202 | +35.9% |
| Gross operating margin | 9900 | €168,054 | €161,394 | -€6,660 | -4.0% |
| Operating profit (loss) | 9901 | €155,080 | €146,129 | -€8,952 | -5.8% |
| Financial income | 75/76B | €8,464 | €10,542 | +€2,077 | +24.5% |
| Recurring financial income | 75 | €8,464 | €10,542 | +€2,077 | +24.5% |
| Financial charges | 65/66B | €1,095 | €781 | -€314 | -28.7% |
| Recurring financial charges | 65 | €1,095 | €781 | -€314 | -28.7% |
| Profit (loss) for the period before taxes | 9903 | €162,449 | €155,889 | -€6,560 | -4.0% |
| Income taxes | 67/77 | €50,028 | €48,555 | -€1,473 | -2.9% |
| Profit (loss) for the period | 9904 | €112,421 | €107,334 | -€5,087 | -4.5% |
| Profit (loss) for the period to be appropriated | 9905 | €112,421 | €107,334 | -€5,087 | -4.5% |
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 30 October 2026 via checked.be.