Horizon Ufuk: 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 Ufuk
Largest movements
- Receivables within one year -€282
down €282 (-28.7%), from €982 to €700
of which Other amounts receivable: -€362
- Cash +€66
up €66 (+127%), from €52 to €118
mainly Net result for the year (+€1,563) and Receivables within one year (+€282)
- Other debts -€1,572
down €1,572 (-7.2%), from €21,844 to €20,272
- Profit (loss) carried forward +€1,563
up €1,563 (+5.1%), from -€30,368 to -€28,805
- Trade debts -€207
down €207 (-79.1%), from €261 to €55
- Gross operating margin +€6,390
up €6,390, from -€4,767 to €1,623
- Depreciation -€102
no longer reported in 2025 (was €102)
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 | €1,034 | €818 | -€216 | -20.9% |
| Fixed assets | 21/28 | €0 | €0 | = | 0.0% |
| Tangible fixed assets | 22/27 | €0 | €0 | = | 0.0% |
| Furniture and vehicles | 24 | €0 | €0 | = | 0.0% |
| Current assets | 29/58 | €1,034 | €818 | -€216 | -20.9% |
| Amounts receivable within one year | 40/41 | €982 | €700 | -€282 | -28.7% |
| Trade receivables | 40 | €8 | €88 | +€80 | +954% |
| Other amounts receivable | 41 | €973 | €611 | -€362 | -37.2% |
| Cash at bank and in hand | 54/58 | €52 | €118 | +€66 | +127% |
| Total equity and liabilities | 10/49 | €1,034 | €818 | -€216 | -20.9% |
| Equity | 10/15 | -€21,072 | -€19,509 | +€1,563 | +7.4% |
| Contributions | 10/11 | €7,437 | €7,437 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Other | 1319 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,368 | -€28,805 | +€1,563 | +5.1% |
| Amounts payable | 17/49 | €22,106 | €20,327 | -€1,779 | -8.0% |
| Amounts payable within one year | 42/48 | €22,106 | €20,327 | -€1,779 | -8.0% |
| Trade debts | 44 | €261 | €55 | -€207 | -79.1% |
| Suppliers | 440/4 | €261 | €55 | -€207 | -79.1% |
| Other amounts payable | 47/48 | €21,844 | €20,272 | -€1,572 | -7.2% |
| Non-recurring operating income | 76A | €40 | - | -€40 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102 | - | -€102 | |
| Other operating charges | 640/8 | €106 | €60 | -€46 | -43.1% |
| Gross operating margin | 9900 | -€4,767 | €1,623 | +€6,390 | |
| Operating profit (loss) | 9901 | -€4,975 | €1,563 | +€6,538 | |
| Profit (loss) for the period before taxes | 9903 | -€4,975 | €1,563 | +€6,538 | |
| Profit (loss) for the period | 9904 | -€4,975 | €1,563 | +€6,538 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,975 | €1,563 | +€6,538 |
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.