Horizons: what changed
Two fiscal 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.
Horizons
Largest movements
- Tangible fixed assets -€20,954
down €20,954 (-10.1%), from €206,522 to €185,568
of which Land and buildings: -€15,785
- Cash +€14,573
up €14,573 (+79.3%), from €18,378 to €32,951
mainly Depreciation (+€20,954) and Current portion of long-term debt (+€213)
- Debts after one year -€5,389
down €5,389 (-10.8%), from €49,852 to €44,463
- Gross operating margin +€849
up €849 (+3.8%), from €22,082 to €22,931
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €224,900 | €218,519 | -€6,381 | -2.8% |
| Fixed assets | 21/28 | €206,522 | €185,568 | -€20,954 | -10.1% |
| Tangible fixed assets | 22/27 | €206,522 | €185,568 | -€20,954 | -10.1% |
| Land and buildings | 22 | €170,421 | €154,636 | -€15,785 | -9.3% |
| Plant, machinery and equipment | 23 | €36,101 | €30,932 | -€5,169 | -14.3% |
| Current assets | 29/58 | €18,378 | €32,951 | +€14,573 | +79.3% |
| Cash at bank and in hand | 54/58 | €18,378 | €32,951 | +€14,573 | +79.3% |
| Total equity and liabilities | 10/49 | €224,900 | €218,519 | -€6,381 | -2.8% |
| Equity | 10/15 | €169,872 | €168,667 | -€1,205 | -0.7% |
| Contributions | 10/11 | €145,395 | €145,395 | = | 0.0% |
| Capital | 10 | €145,395 | €145,395 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,477 | €23,272 | -€1,205 | -4.9% |
| Amounts payable | 17/49 | €55,028 | €49,852 | -€5,176 | -9.4% |
| Amounts payable after more than one year | 17 | €49,852 | €44,463 | -€5,389 | -10.8% |
| Financial debts | 170/4 | €49,852 | €44,463 | -€5,389 | -10.8% |
| Amounts payable within one year | 42/48 | €5,176 | €5,389 | +€213 | +4.1% |
| Current portion of amounts payable after more than one year | 42 | €5,176 | €5,389 | +€213 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,954 | €20,954 | = | 0.0% |
| Other operating charges | 640/8 | €451 | €521 | +€70 | +15.5% |
| Gross operating margin | 9900 | €22,082 | €22,931 | +€849 | +3.8% |
| Operating profit (loss) | 9901 | €677 | €1,456 | +€779 | +115.2% |
| Financial charges | 65/66B | €2,825 | €2,661 | -€164 | -5.8% |
| Recurring financial charges | 65 | €2,825 | €2,661 | -€164 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | -€2,148 | -€1,205 | +€944 | +43.9% |
| Profit (loss) for the period | 9904 | -€2,148 | -€1,205 | +€944 | +43.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,148 | -€1,205 | +€944 | +43.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.