HORIZON VEGETAL: what changed
What changed
HORIZON VEGETAL
NACE 46.220, Wholesale trade
filed annual accounts (NBB)
Net result for the year
-€37,760
2024 · €80,387-€118,147
Equity
€1.2m
2024 · €1.2m-€37,760
Cash
€2,984
2024 · €23,487-€20,503
Balance sheet total
€1.9m
2024 · €2.1m-€210,517
Largest movements
Assets
- Tangible fixed assets -€135,522
down €135,522 (-7.0%), from €1.9m to €1.8m
of which Furniture and vehicles: -€76,515
- Receivables within one year -€48,070
down €48,070 (-30.4%), from €158,167 to €110,097
of which Trade receivables: -€86,518
Equity and liabilities
- Debts after one year -€106,187
down €106,187 (-32.2%), from €329,823 to €223,636
- Other debts -€51,192
no longer reported in 2025 (was €51,192)
- Reserves -€49,779
down €49,779 (-5.3%), from €933,450 to €883,672
Income statement
- Gross operating margin -€84,941
down €84,941 (-43.1%), from €197,226 to €112,285
- Depreciation +€30,062
up €30,062 (+28.5%), from €105,460 to €135,522
- Taxes +€8,490
up €8,490 (+453%), from €1,876 to €10,366
- Other operating charges -€3,012
down €3,012 (-22.1%), from €13,625 to €10,613
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€80,387
Gross operating margin
-€84,941
Staff costs
+€428
Depreciation
-€30,062
Other operating charges
+€3,012
Financial income
+€685
Financial charges
+€1,212
Taxes
-€8,490
Deferred taxes and other
+€9
Result 2025
-€37,760
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€69,547
Investment
+€5,000
Financing
-€95,051
Cash 2024
€23,487
From operations (derived)
+€69,547
Net result for the year
-€37,760
Depreciation
+€135,522
Stocks and contracts
+€1,088
Receivables within one year
+€48,070
Deferred charges and accrued income
+€333
Provisions
-€16,593
Trade debts
-€15,361
Tax, wage and social debts
-€441
Other debts
-€51,192
Accrued charges and deferred income
+€5,881
Investment (derived)
+€5,000
Investment in fixed assets (net)
+€5,000
Financing
-€95,051
Debts after one year
-€106,187
Current portion of long-term debt
-€3,085
Short-term financial debts
+€14,221
Cash 2025
€2,984
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,123,724 | €1,913,207 | -€210,517 | -9.9% |
| Fixed assets | 21/28 | €1,940,649 | €1,800,127 | -€140,522 | -7.2% |
| Tangible fixed assets | 22/27 | €1,935,649 | €1,800,127 | -€135,522 | -7.0% |
| Land and buildings | 22 | €1,589,544 | €1,537,346 | -€52,199 | -3.3% |
| Plant, machinery and equipment | 23 | €4,875 | €3,705 | -€1,169 | -24.0% |
| Furniture and vehicles | 24 | €328,268 | €251,753 | -€76,515 | -23.3% |
| Leasing and similar rights | 25 | €12,962 | €7,323 | -€5,639 | -43.5% |
| Financial fixed assets | 28 | €5,000 | €0 | -€5,000 | -100% |
| Current assets | 29/58 | €183,075 | €113,080 | -€69,995 | -38.2% |
| Stocks and contracts in progress | 3 | €1,088 | - | -€1,088 | |
| Stocks | 30/36 | €1,088 | - | -€1,088 | |
| Amounts receivable within one year | 40/41 | €158,167 | €110,097 | -€48,070 | -30.4% |
| Trade receivables | 40 | €132,942 | €46,424 | -€86,518 | -65.1% |
| Other amounts receivable | 41 | €25,225 | €63,673 | +€38,448 | +152% |
| Cash at bank and in hand | 54/58 | €23,487 | €2,984 | -€20,503 | -87.3% |
| Deferred charges and accrued income | 490/1 | €333 | €0 | -€333 | -100% |
| Total equity and liabilities | 10/49 | €2,123,724 | €1,913,207 | -€210,517 | -9.9% |
| Equity | 10/15 | €1,219,016 | €1,181,256 | -€37,760 | -3.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €933,450 | €883,672 | -€49,779 | -5.3% |
| Tax-exempt reserves | 132 | €933,450 | €883,672 | -€49,779 | -5.3% |
| Profit (loss) carried forward | 14 | €266,965 | €278,984 | +€12,019 | +4.5% |
| Provisions and deferred taxes | 16 | €311,150 | €294,557 | -€16,593 | -5.3% |
| Deferred taxes | 168 | €311,150 | €294,557 | -€16,593 | -5.3% |
| Amounts payable | 17/49 | €593,558 | €437,394 | -€156,164 | -26.3% |
| Amounts payable after more than one year | 17 | €329,823 | €223,636 | -€106,187 | -32.2% |
| Financial debts | 170/4 | €329,823 | €223,636 | -€106,187 | -32.2% |
| Amounts payable within one year | 42/48 | €221,157 | €165,300 | -€55,858 | -25.3% |
| Current portion of amounts payable after more than one year | 42 | €116,065 | €112,980 | -€3,085 | -2.7% |
| Financial debts | 43 | - | €14,221 | +€14,221 | |
| Credit institutions | 430/8 | - | €14,221 | +€14,221 | |
| Trade debts | 44 | €25,592 | €10,231 | -€15,361 | -60.0% |
| Suppliers | 440/4 | €25,592 | €10,231 | -€15,361 | -60.0% |
| Taxes, remuneration and social security | 45 | €28,308 | €27,867 | -€441 | -1.6% |
| Taxes | 450/3 | €27,308 | €27,867 | +€559 | +2.0% |
| Remuneration and social security | 454/9 | €1,000 | €0 | -€1,000 | -100% |
| Other amounts payable | 47/48 | €51,192 | - | -€51,192 | |
| Accrued charges and deferred income | 492/3 | €42,578 | €48,459 | +€5,881 | +13.8% |
| Remuneration, social security and pensions | 62 | €783 | €355 | -€428 | -54.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105,460 | €135,522 | +€30,062 | +28.5% |
| Other operating charges | 640/8 | €13,625 | €10,613 | -€3,012 | -22.1% |
| Gross operating margin | 9900 | €197,226 | €112,285 | -€84,941 | -43.1% |
| Operating profit (loss) | 9901 | €77,358 | -€34,205 | -€111,563 | |
| Financial income | 75/76B | €1,040 | €1,725 | +€685 | +65.8% |
| Recurring financial income | 75 | €1,040 | €1,725 | +€685 | +65.8% |
| Financial charges | 65/66B | €12,719 | €11,507 | -€1,212 | -9.5% |
| Recurring financial charges | 65 | €12,719 | €11,507 | -€1,212 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | €65,680 | -€43,987 | -€109,667 | |
| Transfer from deferred taxes | 780 | €16,583 | €16,593 | +€9 | +0.1% |
| Income taxes | 67/77 | €1,876 | €10,366 | +€8,490 | +453% |
| Profit (loss) for the period | 9904 | €80,387 | -€37,760 | -€118,147 | |
| Transfer from tax-exempt reserves | 789 | €49,750 | €49,779 | +€28 | +0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €130,137 | €12,019 | -€118,119 | -90.8% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.