HORIZON WING: 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 WING
Largest movements
- Receivables within one year +€12,000
up €12,000 (+100%), from €12,000 to €24,000
- Financial fixed assets +€6,000
up €6,000 (+11.0%), from €54,500 to €60,500
- Cash -€5,964
down €5,964 (-5.8%), from €102,255 to €96,291
mainly Receivables within one year (-€12,000) and Investment in fixed assets (net) (-€6,000)
- Profit (loss) carried forward +€6,532
up €6,532 (+6.4%), from €101,968 to €108,500
- Other debts +€6,387
up €6,387 (+11.4%), from €56,166 to €62,553
- Trade debts -€2,891
down €2,891 (-56.4%), from €5,129 to €2,239
- Financial income -€100,000
no longer reported in 2025 (was €100,000)
- Gross operating margin +€2,499
up €2,499 (+38.2%), from €6,538 to €9,037
- Taxes +€1,307
up €1,307 (+266%), from €492 to €1,799
- Other operating charges +€261
up €261 (+67.5%), from €387 to €649
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 | €168,755 | €180,791 | +€12,036 | +7.1% |
| Fixed assets | 21/28 | €54,500 | €60,500 | +€6,000 | +11.0% |
| Financial fixed assets | 28 | €54,500 | €60,500 | +€6,000 | +11.0% |
| Current assets | 29/58 | €114,255 | €120,291 | +€6,036 | +5.3% |
| Amounts receivable within one year | 40/41 | €12,000 | €24,000 | +€12,000 | +100% |
| Trade receivables | 40 | €12,000 | €24,000 | +€12,000 | +100% |
| Cash at bank and in hand | 54/58 | €102,255 | €96,291 | -€5,964 | -5.8% |
| Total equity and liabilities | 10/49 | €168,755 | €180,791 | +€12,036 | +7.1% |
| Equity | 10/15 | €106,968 | €113,500 | +€6,532 | +6.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Contributions outside capital | 11 | €5,000 | €5,000 | = | 0.0% |
| Share premium | 1100/10 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €101,968 | €108,500 | +€6,532 | +6.4% |
| Amounts payable | 17/49 | €61,787 | €67,291 | +€5,504 | +8.9% |
| Amounts payable within one year | 42/48 | €61,787 | €67,083 | +€5,296 | +8.6% |
| Trade debts | 44 | €5,129 | €2,239 | -€2,891 | -56.4% |
| Suppliers | 440/4 | €5,129 | €2,239 | -€2,891 | -56.4% |
| Taxes, remuneration and social security | 45 | €492 | €2,291 | +€1,799 | +366% |
| Taxes | 450/3 | €492 | €2,291 | +€1,799 | +366% |
| Other amounts payable | 47/48 | €56,166 | €62,553 | +€6,387 | +11.4% |
| Accrued charges and deferred income | 492/3 | - | €208 | +€208 | |
| Other operating charges | 640/8 | €387 | €649 | +€261 | +67.5% |
| Gross operating margin | 9900 | €6,538 | €9,037 | +€2,499 | +38.2% |
| Operating profit (loss) | 9901 | €6,151 | €8,389 | +€2,238 | +36.4% |
| Financial income | 75/76B | €100,000 | - | -€100,000 | |
| Recurring financial income | 75 | €100,000 | - | -€100,000 | |
| Financial charges | 65/66B | €47 | €57 | +€11 | +23.1% |
| Recurring financial charges | 65 | €47 | €57 | +€11 | +23.1% |
| Profit (loss) for the period before taxes | 9903 | €106,104 | €8,331 | -€97,773 | -92.1% |
| Income taxes | 67/77 | €492 | €1,799 | +€1,307 | +266% |
| Profit (loss) for the period | 9904 | €105,612 | €6,532 | -€99,080 | -93.8% |
| Profit (loss) for the period to be appropriated | 9905 | €105,612 | €6,532 | -€99,080 | -93.8% |
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 16 October 2026 via checked.be.