Horizon Flight Services: 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 Flight Services
Largest movements
- Cash +€29,208
up €29,208 (+43.2%), from €67,566 to €96,774
mainly Other debts (+€42,805) and Net result for the year (+€34,127)
- Receivables within one year +€4,124
up €4,124 (+48.5%), from €8,503 to €12,627
of which Other amounts receivable: +€7,056
- Other debts +€42,805
up €42,805 (+161,649%), from €26 to €42,831
- Reserves -€15,873
down €15,873 (-21.9%), from €72,636 to €56,763
- Tax, wage and social debts +€8,019
up €8,019 (+344%), from €2,332 to €10,351
- Trade debts -€2,029
down €2,029 (-53.2%), from €3,810 to €1,781
- Gross operating margin +€4,312
up €4,312 (+9.4%), from €46,006 to €50,317
- Other operating charges -€2,230
down €2,230 (-79.0%), from €2,823 to €594
- Taxes +€1,313
up €1,313 (+12.4%), from €10,626 to €11,939
- Financial charges -€609
down €609 (-21.2%), from €2,866 to €2,257
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 | €80,805 | €113,727 | +€32,922 | +40.7% |
| Fixed assets | 21/28 | €3,542 | €3,232 | -€310 | -8.7% |
| Tangible fixed assets | 22/27 | €3,542 | €3,232 | -€310 | -8.7% |
| Plant, machinery and equipment | 23 | €2,833 | €1,926 | -€907 | -32.0% |
| Furniture and vehicles | 24 | €709 | €1,306 | +€597 | +84.2% |
| Current assets | 29/58 | €77,263 | €110,495 | +€33,232 | +43.0% |
| Amounts receivable within one year | 40/41 | €8,503 | €12,627 | +€4,124 | +48.5% |
| Trade receivables | 40 | €8,499 | €5,566 | -€2,933 | -34.5% |
| Other amounts receivable | 41 | €5 | €7,061 | +€7,056 | +152,077% |
| Cash at bank and in hand | 54/58 | €67,566 | €96,774 | +€29,208 | +43.2% |
| Deferred charges and accrued income | 490/1 | €1,193 | €1,094 | -€100 | -8.3% |
| Total equity and liabilities | 10/49 | €80,805 | €113,727 | +€32,922 | +40.7% |
| Equity | 10/15 | €74,636 | €58,763 | -€15,873 | -21.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €72,636 | €56,763 | -€15,873 | -21.9% |
| Distributable reserves | 133 | €72,636 | €56,763 | -€15,873 | -21.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €6,169 | €54,964 | +€48,795 | +791% |
| Amounts payable within one year | 42/48 | €6,169 | €54,964 | +€48,795 | +791% |
| Trade debts | 44 | €3,810 | €1,781 | -€2,029 | -53.2% |
| Suppliers | 440/4 | €3,810 | €1,781 | -€2,029 | -53.2% |
| Taxes, remuneration and social security | 45 | €2,332 | €10,351 | +€8,019 | +344% |
| Taxes | 450/3 | €2,332 | €10,351 | +€8,019 | +344% |
| Other amounts payable | 47/48 | €26 | €42,831 | +€42,805 | +161,649% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,343 | €1,709 | +€366 | +27.3% |
| Other operating charges | 640/8 | €2,823 | €594 | -€2,230 | -79.0% |
| Gross operating margin | 9900 | €46,006 | €50,317 | +€4,312 | +9.4% |
| Operating profit (loss) | 9901 | €41,840 | €48,015 | +€6,175 | +14.8% |
| Financial income | 75/76B | €21 | €308 | +€287 | +1,388% |
| Recurring financial income | 75 | €21 | €308 | +€287 | +1,388% |
| Financial charges | 65/66B | €2,866 | €2,257 | -€609 | -21.2% |
| Recurring financial charges | 65 | €2,866 | €2,257 | -€609 | -21.2% |
| Profit (loss) for the period before taxes | 9903 | €38,995 | €46,066 | +€7,071 | +18.1% |
| Income taxes | 67/77 | €10,626 | €11,939 | +€1,313 | +12.4% |
| Profit (loss) for the period | 9904 | €28,369 | €34,127 | +€5,758 | +20.3% |
| Profit (loss) for the period to be appropriated | 9905 | €28,369 | €34,127 | +€5,758 | +20.3% |
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 19 October 2026 via checked.be.