HORIZON SOLVERS: 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 SOLVERS
Largest movements
- Tangible fixed assets -€21,185
down €21,185 (-88.3%), from €24,004 to €2,819
of which Furniture and vehicles: -€19,882
- Receivables within one year -€16,008
down €16,008 (-44.6%), from €35,920 to €19,912
- Receivables after one year +€15,061
up €15,061 (+108%), from €13,964 to €29,025
- Cash +€2,966
up €2,966 (+10.9%), from €27,101 to €30,067
mainly Net result for the year (+€56,692) and Investment in fixed assets (net) (+€19,163)
- Trade debts -€62,471
down €62,471 (-89.0%), from €70,229 to €7,758
of which Suppliers: -€61,746
- Profit (loss) carried forward +€56,692
up €56,692, from -€37,423 to €19,269
- Debts after one year -€5,155
down €5,155 (-74.4%), from €6,928 to €1,773
- Current portion of long-term debt -€4,192
down €4,192 (-12.2%), from €34,416 to €30,224
- Tax, wage and social debts -€4,009
down €4,009 (-13.1%), from €30,592 to €26,583
of which Remuneration and social security: -€9,500
- Gross operating margin +€60,575
up €60,575, from -€5,722 to €54,854
- Staff costs -€36,227
down €36,227 (-74.2%), from €48,816 to €12,589
- Depreciation -€28,136
down €28,136 (-93.3%), from €30,158 to €2,022
- Financial income +€15,217
up €15,217 (+192%), from €7,906 to €23,124
- Taxes -€14,072
down €14,072 (-85.2%), from €16,521 to €2,449
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 | €107,242 | €88,108 | -€19,134 | -17.8% |
| Fixed assets | 21/28 | €29,004 | €7,819 | -€21,185 | -73.0% |
| Tangible fixed assets | 22/27 | €24,004 | €2,819 | -€21,185 | -88.3% |
| Plant, machinery and equipment | 23 | €1,649 | €1,099 | -€550 | -33.3% |
| Furniture and vehicles | 24 | €21,601 | €1,720 | -€19,882 | -92.0% |
| Other tangible fixed assets | 26 | €754 | - | -€754 | |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €78,237 | €80,289 | +€2,052 | +2.6% |
| Amounts receivable after more than one year | 29 | €13,964 | €29,025 | +€15,061 | +108% |
| Trade receivables | 290 | €13,964 | €29,025 | +€15,061 | +108% |
| Amounts receivable within one year | 40/41 | €35,920 | €19,912 | -€16,008 | -44.6% |
| Trade receivables | 40 | €35,920 | €19,912 | -€16,008 | -44.6% |
| Cash at bank and in hand | 54/58 | €27,101 | €30,067 | +€2,966 | +10.9% |
| Deferred charges and accrued income | 490/1 | €1,253 | €1,285 | +€32 | +2.6% |
| Total equity and liabilities | 10/49 | €107,242 | €88,108 | -€19,134 | -17.8% |
| Equity | 10/15 | -€34,923 | €21,769 | +€56,692 | |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€37,423 | €19,269 | +€56,692 | |
| Amounts payable | 17/49 | €142,165 | €66,339 | -€75,826 | -53.3% |
| Amounts payable after more than one year | 17 | €6,928 | €1,773 | -€5,155 | -74.4% |
| Financial debts | 170/4 | €6,928 | €1,773 | -€5,155 | -74.4% |
| Amounts payable within one year | 42/48 | €135,237 | €64,566 | -€70,671 | -52.3% |
| Current portion of amounts payable after more than one year | 42 | €34,416 | €30,224 | -€4,192 | -12.2% |
| Trade debts | 44 | €70,229 | €7,758 | -€62,471 | -89.0% |
| Suppliers | 440/4 | €69,504 | €7,758 | -€61,746 | -88.8% |
| Bills of exchange payable | 441 | €725 | - | -€725 | |
| Taxes, remuneration and social security | 45 | €30,592 | €26,583 | -€4,009 | -13.1% |
| Taxes | 450/3 | €12,472 | €17,963 | +€5,491 | +44.0% |
| Remuneration and social security | 454/9 | €18,120 | €8,620 | -€9,500 | -52.4% |
| Remuneration, social security and pensions | 62 | €48,816 | €12,589 | -€36,227 | -74.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,158 | €2,022 | -€28,136 | -93.3% |
| Other operating charges | 640/8 | €15,991 | €2,098 | -€13,893 | -86.9% |
| Gross operating margin | 9900 | -€5,722 | €54,854 | +€60,575 | |
| Operating profit (loss) | 9901 | -€100,686 | €38,145 | +€138,831 | |
| Financial income | 75/76B | €7,906 | €23,124 | +€15,217 | +192% |
| Recurring financial income | 75 | €7,906 | €23,124 | +€15,217 | +192% |
| Financial charges | 65/66B | €1,810 | €2,127 | +€317 | +17.5% |
| Recurring financial charges | 65 | €1,810 | €2,127 | +€317 | +17.5% |
| Profit (loss) for the period before taxes | 9903 | -€94,590 | €59,141 | +€153,731 | |
| Income taxes | 67/77 | €16,521 | €2,449 | -€14,072 | -85.2% |
| Profit (loss) for the period | 9904 | -€111,111 | €56,692 | +€167,804 | |
| Profit (loss) for the period to be appropriated | 9905 | -€111,111 | €56,692 | +€167,804 |
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 20 October 2026 via checked.be.