HORNICK: 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.
HORNICK
Largest movements
- Current investments +€151,842
up €151,842 (+10.7%), from €1.4m to €1.6m
- Cash -€89,654
down €89,654 (-7.7%), from €1.2m to €1.1m
mainly Current investments (-€151,842) and Provisions (-€13,887)
- Tangible fixed assets -€80,475
down €80,475 (-4.5%), from €1.8m to €1.7m
of which Land and buildings: -€76,365
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€38,801
up €38,801 (+65.6%), from €59,120 to €97,921
- Other operating charges +€29,703
up €29,703 (+276%), from €10,765 to €40,468
- Financial income +€21,735
up €21,735 (+200%), from €10,860 to €32,595
- Taxes +€12,212
up €12,212 (+81.7%), from €14,952 to €27,163
- Financial charges -€3,158
down €3,158, from €3,020 to -€138
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 | €4,400,006 | €4,382,828 | -€17,178 | -0.4% |
| Fixed assets | 21/28 | €1,801,979 | €1,721,504 | -€80,475 | -4.5% |
| Tangible fixed assets | 22/27 | €1,801,979 | €1,721,504 | -€80,475 | -4.5% |
| Land and buildings | 22 | €1,776,315 | €1,699,951 | -€76,365 | -4.3% |
| Plant, machinery and equipment | 23 | €658 | €1,549 | +€891 | +135% |
| Furniture and vehicles | 24 | €25,006 | €20,004 | -€5,001 | -20.0% |
| Current assets | 29/58 | €2,598,027 | €2,661,323 | +€63,296 | +2.4% |
| Amounts receivable within one year | 40/41 | €10,335 | €11,334 | +€998 | +9.7% |
| Trade receivables | 40 | - | €998 | +€998 | |
| Other amounts receivable | 41 | €10,335 | €10,335 | = | 0.0% |
| Current investments | 50/53 | €1,420,818 | €1,572,659 | +€151,842 | +10.7% |
| Cash at bank and in hand | 54/58 | €1,165,445 | €1,075,791 | -€89,654 | -7.7% |
| Deferred charges and accrued income | 490/1 | €1,429 | €1,539 | +€110 | +7.7% |
| Total equity and liabilities | 10/49 | €4,400,006 | €4,382,828 | -€17,178 | -0.4% |
| Equity | 10/15 | €4,062,333 | €4,057,694 | -€4,639 | -0.1% |
| Contributions | 10/11 | €321,913 | €321,913 | = | 0.0% |
| Reserves | 13 | €3,740,420 | €3,735,781 | -€4,639 | -0.1% |
| Tax-exempt reserves | 132 | €609,846 | €568,186 | -€41,660 | -6.8% |
| Distributable reserves | 133 | €3,130,574 | €3,167,595 | +€37,021 | +1.2% |
| Provisions and deferred taxes | 16 | €203,282 | €189,395 | -€13,887 | -6.8% |
| Deferred taxes | 168 | €203,282 | €189,395 | -€13,887 | -6.8% |
| Amounts payable | 17/49 | €134,391 | €135,739 | +€1,348 | +1.0% |
| Amounts payable within one year | 42/48 | €134,344 | €135,739 | +€1,395 | +1.0% |
| Trade debts | 44 | €4,958 | €3,389 | -€1,568 | -31.6% |
| Suppliers | 440/4 | €4,958 | €3,389 | -€1,568 | -31.6% |
| Taxes, remuneration and social security | 45 | - | €3,775 | +€3,775 | |
| Taxes | 450/3 | - | €3,775 | +€3,775 | |
| Other amounts payable | 47/48 | €129,386 | €128,574 | -€812 | -0.6% |
| Accrued charges and deferred income | 492/3 | €47 | €0 | -€47 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,365 | €81,550 | +€185 | +0.2% |
| Other operating charges | 640/8 | €10,765 | €40,468 | +€29,703 | +276% |
| Gross operating margin | 9900 | €59,120 | €97,921 | +€38,801 | +65.6% |
| Operating profit (loss) | 9901 | -€33,010 | -€24,096 | +€8,914 | +27.0% |
| Financial income | 75/76B | €10,860 | €32,595 | +€21,735 | +200% |
| Recurring financial income | 75 | €10,860 | €32,595 | +€21,735 | +200% |
| Financial charges | 65/66B | €3,020 | -€138 | -€3,158 | |
| Recurring financial charges | 65 | €3,020 | -€138 | -€3,158 | |
| Profit (loss) for the period before taxes | 9903 | -€25,170 | €8,637 | +€33,807 | |
| Transfer from deferred taxes | 780 | €13,887 | €13,887 | +€0 | 0.0% |
| Income taxes | 67/77 | €14,952 | €27,163 | +€12,212 | +81.7% |
| Profit (loss) for the period | 9904 | -€26,235 | -€4,639 | +€21,595 | +82.3% |
| Transfer from tax-exempt reserves | 789 | €41,660 | €41,660 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €15,425 | €37,021 | +€21,595 | +140% |
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.