HORIZON NET: 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 NET
Largest movements
- Receivables within one year -€704,309
down €704,309 (-31.9%), from €2.2m to €1.5m
of which Trade receivables: -€672,472
- Cash +€322,540
up €322,540 (+978%), from €32,967 to €355,507
mainly Receivables within one year (+€704,309) and Provisions (+€10,000)
- Trade debts -€390,542
down €390,542 (-18.7%), from €2.1m to €1.7m
- Turnover +€5.1m
new in 2025: €5.1m
- Goods and materials +€4.8m
new in 2025: €4.8m
- Services and other goods +€317,369
new in 2025: €317,369
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 | €2,243,222 | €1,861,453 | -€381,769 | -17.0% |
| Current assets | 29/58 | €2,243,222 | €1,861,453 | -€381,769 | -17.0% |
| Amounts receivable within one year | 40/41 | €2,210,255 | €1,505,946 | -€704,309 | -31.9% |
| Trade receivables | 40 | €2,089,035 | €1,416,563 | -€672,472 | -32.2% |
| Other amounts receivable | 41 | €121,220 | €89,384 | -€31,837 | -26.3% |
| Cash at bank and in hand | 54/58 | €32,967 | €355,507 | +€322,540 | +978% |
| Total equity and liabilities | 10/49 | €2,243,222 | €1,861,453 | -€381,769 | -17.0% |
| Equity | 10/15 | €156,569 | €155,341 | -€1,228 | -0.8% |
| Contributions | 10/11 | €126,000 | €126,000 | = | 0.0% |
| Capital | 10 | €126,000 | €126,000 | = | 0.0% |
| Issued capital | 100 | €126,000 | €126,000 | = | 0.0% |
| Reserves | 13 | €13,141 | €13,141 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,141 | €13,141 | = | 0.0% |
| Legal reserve | 130 | €13,141 | €13,141 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,428 | €16,201 | -€1,228 | -7.0% |
| Provisions and deferred taxes | 16 | - | €10,000 | +€10,000 | |
| Provisions for liabilities and charges | 160/5 | - | €10,000 | +€10,000 | |
| Other liabilities and charges | 164/5 | - | €10,000 | +€10,000 | |
| Amounts payable | 17/49 | €2,086,654 | €1,696,112 | -€390,542 | -18.7% |
| Amounts payable within one year | 42/48 | €2,086,654 | €1,696,112 | -€390,542 | -18.7% |
| Trade debts | 44 | €2,086,531 | €1,695,989 | -€390,542 | -18.7% |
| Suppliers | 440/4 | €2,086,531 | €1,695,989 | -€390,542 | -18.7% |
| Taxes, remuneration and social security | 45 | €123 | €123 | = | 0.0% |
| Taxes | 450/3 | €123 | €123 | = | 0.0% |
| Operating income | 70/76A | - | €5,078,259 | +€5.1m | |
| Turnover | 70 | - | €5,073,567 | +€5.1m | |
| Other operating income | 74 | - | €4,692 | +€4,692 | |
| Operating charges | 60/66A | - | €5,079,251 | +€5.1m | |
| Goods for resale, raw materials and consumables | 60 | - | €4,750,612 | +€4.8m | |
| Purchases | 600/8 | - | €4,750,612 | +€4.8m | |
| Services and other goods | 61 | - | €317,369 | +€317,369 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €10,000 | +€10,000 | |
| Other operating charges | 640/8 | €1,234 | €1,271 | +€37 | +3.0% |
| Gross operating margin | 9900 | €1,941 | - | -€1,941 | |
| Operating profit (loss) | 9901 | €707 | -€992 | -€1,699 | |
| Financial charges | 65/66B | €215 | €236 | +€21 | +9.6% |
| Recurring financial charges | 65 | €215 | €236 | +€21 | +9.6% |
| Other financial charges | 652/9 | - | €236 | +€236 | |
| Profit (loss) for the period before taxes | 9903 | €492 | -€1,228 | -€1,720 | |
| Income taxes | 67/77 | €310 | - | -€310 | |
| Profit (loss) for the period | 9904 | €182 | -€1,228 | -€1,410 | |
| Profit (loss) for the period to be appropriated | 9905 | €182 | -€1,228 | -€1,410 |
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 18 October 2026 via checked.be.