HORLUX: 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.
HORLUX
Largest movements
- Stocks and contracts -€5,003
down €5,003 (-3.2%), from €158,115 to €153,112
No liability line moved by more than 1% of the balance sheet total.
- Purchases and services -€31,688
down €31,688 (-74.3%), from €42,640 to €10,952
- Turnover -€29,512
down €29,512 (-69.2%), from €42,640 to €13,128
- Gross operating margin -€524
down €524 (-19.4%), from €2,700 to €2,176
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 | €412,010 | €409,923 | -€2,087 | -0.5% |
| Fixed assets | 21/28 | €133,863 | €133,863 | -€1 | 0.0% |
| Tangible fixed assets | 22/27 | €133,863 | €133,863 | -€1 | 0.0% |
| Land and buildings | 22 | €133,863 | €133,863 | -€1 | 0.0% |
| Current assets | 29/58 | €278,147 | €276,060 | -€2,087 | -0.8% |
| Stocks and contracts in progress | 3 | €158,115 | €153,112 | -€5,003 | -3.2% |
| Stocks | 30/36 | €158,115 | €153,112 | -€5,003 | -3.2% |
| Amounts receivable within one year | 40/41 | €4,547 | €3,428 | -€1,119 | -24.6% |
| Trade receivables | 40 | €1,129 | €622 | -€507 | -44.9% |
| Other amounts receivable | 41 | €3,418 | €2,806 | -€612 | -17.9% |
| Cash at bank and in hand | 54/58 | €115,485 | €119,521 | +€4,036 | +3.5% |
| Total equity and liabilities | 10/49 | €412,010 | €409,923 | -€2,087 | -0.5% |
| Equity | 10/15 | €265,103 | €264,492 | -€611 | -0.2% |
| Contributions | 10/11 | €198,315 | €198,315 | -€0 | 0.0% |
| Capital | 10 | €198,315 | €198,315 | -€0 | 0.0% |
| Issued capital | 100 | €198,315 | €198,315 | -€0 | 0.0% |
| Reserves | 13 | €5,906 | €5,906 | -€0 | 0.0% |
| Non-distributable reserves | 130/1 | €5,906 | €5,906 | -€0 | 0.0% |
| Legal reserve | 130 | €5,906 | €5,906 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | €60,882 | €60,271 | -€611 | -1.0% |
| Amounts payable | 17/49 | €146,907 | €145,431 | -€1,476 | -1.0% |
| Amounts payable after more than one year | 17 | €47,886 | €47,886 | +€0 | 0.0% |
| Other amounts payable | 178/9 | €47,886 | €47,886 | +€0 | 0.0% |
| Amounts payable within one year | 42/48 | €99,021 | €97,545 | -€1,476 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | €97,000 | €97,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €2,021 | €545 | -€1,476 | -73.1% |
| Taxes | 450/3 | €2,021 | €545 | -€1,476 | -73.1% |
| Turnover | 70 | €42,640 | €13,128 | -€29,512 | -69.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €42,640 | €10,952 | -€31,688 | -74.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €2,500 | €2,698 | +€198 | +7.9% |
| Gross operating margin | 9900 | €2,700 | €2,176 | -€524 | -19.4% |
| Operating profit (loss) | 9901 | €200 | -€522 | -€722 | |
| Financial charges | 65/66B | €105 | €112 | +€7 | +7.1% |
| Recurring financial charges | 65 | €105 | €112 | +€7 | +7.1% |
| Profit (loss) for the period before taxes | 9903 | €95 | -€635 | -€730 | |
| Income taxes | 67/77 | €24 | -€24 | -€48 | |
| Profit (loss) for the period | 9904 | €71 | -€611 | -€682 | |
| Profit (loss) for the period to be appropriated | 9905 | €71 | -€611 | -€682 |
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 13 October 2026 via checked.be.