HORIZONS LOINTAINS: what changed
HORIZONS LOINTAINS
Largest movements
- Stocks and contracts -€35,149
down €35,149 (-69.6%), from €50,468 to €15,319
- Cash +€28,549
up €28,549 (+384%), from €7,435 to €35,984
mainly Stocks and contracts (+€35,149) and Tax, wage and social debts (+€27,336)
- Deferred charges and accrued income +€5,462
up €5,462 (+515%), from €1,060 to €6,522
- Other debts -€40,482
down €40,482 (-74.9%), from €54,068 to €13,586
- Short-term financial debts -€36,000
down €36,000 (-48.1%), from €74,782 to €38,782
- Tax, wage and social debts +€27,336
up €27,336 (+75.6%), from €36,170 to €63,507
of which Taxes: +€26,495
- Reserves +€25,858
up €25,858 (+35.4%), from €73,034 to €98,892
of which Distributable reserves: +€25,858
- Trade debts +€12,631
up €12,631 (+46.8%), from €26,991 to €39,622
- Gross operating margin +€28,810
up €28,810 (+61.0%), from €47,211 to €76,021
- Staff costs +€10,933
up €10,933 (+361%), from €3,028 to €13,961
- Taxes +€5,537
up €5,537 (+94.1%), from €5,881 to €11,418
- Other operating charges +€1,054
up €1,054 (+54.9%), from €1,921 to €2,976
- Depreciation +€765
up €765 (+7.6%), from €10,023 to €10,788
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €417,692 | €422,213 | +€4,522 | +1.1% |
| Fixed assets | 21/28 | €204,870 | €207,770 | +€2,900 | +1.4% |
| Tangible fixed assets | 22/27 | €197,985 | €200,885 | +€2,900 | +1.5% |
| Land and buildings | 22 | €190,307 | €181,511 | -€8,796 | -4.6% |
| Furniture and vehicles | 24 | €7,678 | €7,159 | -€519 | -6.8% |
| Assets under construction and advance payments | 27 | - | €12,215 | +€12,215 | |
| Financial fixed assets | 28 | €6,885 | €6,885 | = | 0.0% |
| Current assets | 29/58 | €212,822 | €214,443 | +€1,622 | +0.8% |
| Stocks and contracts in progress | 3 | €50,468 | €15,319 | -€35,149 | -69.6% |
| Stocks | 30/36 | €50,468 | €15,319 | -€35,149 | -69.6% |
| Amounts receivable within one year | 40/41 | €153,859 | €156,618 | +€2,759 | +1.8% |
| Trade receivables | 40 | €5,829 | €4,300 | -€1,529 | -26.2% |
| Other amounts receivable | 41 | €148,029 | €152,318 | +€4,289 | +2.9% |
| Cash at bank and in hand | 54/58 | €7,435 | €35,984 | +€28,549 | +384% |
| Deferred charges and accrued income | 490/1 | €1,060 | €6,522 | +€5,462 | +515% |
| Total equity and liabilities | 10/49 | €417,692 | €422,213 | +€4,522 | +1.1% |
| Equity | 10/15 | €183,034 | €208,892 | +€25,858 | +14.1% |
| Contributions | 10/11 | €110,000 | €110,000 | = | 0.0% |
| Reserves | 13 | €73,034 | €98,892 | +€25,858 | +35.4% |
| Tax-exempt reserves | 132 | €4,764 | €4,764 | = | 0.0% |
| Distributable reserves | 133 | €68,270 | €94,128 | +€25,858 | +37.9% |
| Amounts payable | 17/49 | €234,657 | €213,321 | -€21,336 | -9.1% |
| Amounts payable after more than one year | 17 | €31,522 | €40,632 | +€9,111 | +28.9% |
| Financial debts | 170/4 | €31,522 | €40,632 | +€9,111 | +28.9% |
| Amounts payable within one year | 42/48 | €203,136 | €171,505 | -€31,631 | -15.6% |
| Current portion of amounts payable after more than one year | 42 | €11,125 | €16,009 | +€4,884 | +43.9% |
| Financial debts | 43 | €74,782 | €38,782 | -€36,000 | -48.1% |
| Credit institutions | 430/8 | €74,782 | €38,782 | -€36,000 | -48.1% |
| Trade debts | 44 | €26,991 | €39,622 | +€12,631 | +46.8% |
| Suppliers | 440/4 | €26,991 | €39,622 | +€12,631 | +46.8% |
| Taxes, remuneration and social security | 45 | €36,170 | €63,507 | +€27,336 | +75.6% |
| Taxes | 450/3 | €36,170 | €62,665 | +€26,495 | +73.2% |
| Remuneration and social security | 454/9 | - | €841 | +€841 | |
| Other amounts payable | 47/48 | €54,068 | €13,586 | -€40,482 | -74.9% |
| Accrued charges and deferred income | 492/3 | - | €1,184 | +€1,184 | |
| Remuneration, social security and pensions | 62 | €3,028 | €13,961 | +€10,933 | +361% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,023 | €10,788 | +€765 | +7.6% |
| Other operating charges | 640/8 | €1,921 | €2,976 | +€1,054 | +54.9% |
| Gross operating margin | 9900 | €47,211 | €76,021 | +€28,810 | +61.0% |
| Operating profit (loss) | 9901 | €32,238 | €48,296 | +€16,058 | +49.8% |
| Financial income | 75/76B | - | €215 | +€215 | |
| Recurring financial income | 75 | - | €215 | +€215 | |
| Financial charges | 65/66B | €11,075 | €11,235 | +€160 | +1.4% |
| Recurring financial charges | 65 | €11,075 | €11,235 | +€160 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | €21,163 | €37,276 | +€16,113 | +76.1% |
| Income taxes | 67/77 | €5,881 | €11,418 | +€5,537 | +94.1% |
| Profit (loss) for the period | 9904 | €15,282 | €25,858 | +€10,576 | +69.2% |
| Profit (loss) for the period to be appropriated | 9905 | €15,282 | €25,858 | +€10,576 | +69.2% |
Next steps
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.