HORRENT: 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.
HORRENT
Largest movements
- Receivables within one year -€8,669
down €8,669 (-43.2%), from €20,058 to €11,389
- Tangible fixed assets -€8,359
down €8,359 (-43.3%), from €19,323 to €10,964
- Stocks and contracts +€4,204
up €4,204 (+7.8%), from €53,561 to €57,765
- Cash -€2,607
down €2,607 (-8.0%), from €32,672 to €30,065
mainly Net result for the year (-€14,066) and Stocks and contracts (-€4,204)
- Profit (loss) carried forward -€14,066
down €14,066 (-2,810%), from -€501 to -€14,567
- Tax, wage and social debts -€3,480
down €3,480 (-67.6%), from €5,151 to €1,671
of which Remuneration and social security: -€3,305
- Trade debts +€2,115
up €2,115 (+14.7%), from €14,426 to €16,541
- Gross operating margin -€15,660
down €15,660 (-46.0%), from €34,026 to €18,366
- Financial income -€720
down €720 (-33.5%), from €2,148 to €1,428
- Financial charges +€391
up €391 (+28.0%), from €1,397 to €1,788
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 | €167,389 | €151,957 | -€15,431 | -9.2% |
| Fixed assets | 21/28 | €19,523 | €11,164 | -€8,359 | -42.8% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €19,323 | €10,964 | -€8,359 | -43.3% |
| Land and buildings | 22 | €2,313 | €1,298 | -€1,016 | -43.9% |
| Plant, machinery and equipment | 23 | €12,051 | €8,070 | -€3,981 | -33.0% |
| Furniture and vehicles | 24 | €4,958 | €1,596 | -€3,362 | -67.8% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €147,866 | €140,793 | -€7,072 | -4.8% |
| Amounts receivable after more than one year | 29 | €41,575 | €41,575 | = | 0.0% |
| Other amounts receivable | 291 | €41,575 | €41,575 | = | 0.0% |
| Stocks and contracts in progress | 3 | €53,561 | €57,765 | +€4,204 | +7.8% |
| Stocks | 30/36 | €53,561 | €57,765 | +€4,204 | +7.8% |
| Amounts receivable within one year | 40/41 | €20,058 | €11,389 | -€8,669 | -43.2% |
| Other amounts receivable | 41 | €20,058 | €11,389 | -€8,669 | -43.2% |
| Cash at bank and in hand | 54/58 | €32,672 | €30,065 | -€2,607 | -8.0% |
| Total equity and liabilities | 10/49 | €167,389 | €151,957 | -€15,431 | -9.2% |
| Equity | 10/15 | €147,811 | €133,745 | -€14,066 | -9.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €128,312 | €128,312 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | - | -€2,000 | |
| Reserves not available under the articles | 1311 | €2,000 | - | -€2,000 | |
| Distributable reserves | 133 | €126,312 | €128,312 | +€2,000 | +1.6% |
| Profit (loss) carried forward | 14 | -€501 | -€14,567 | -€14,066 | -2,810% |
| Amounts payable | 17/49 | €19,577 | €18,212 | -€1,365 | -7.0% |
| Amounts payable within one year | 42/48 | €19,577 | €18,212 | -€1,365 | -7.0% |
| Trade debts | 44 | €14,426 | €16,541 | +€2,115 | +14.7% |
| Suppliers | 440/4 | €14,426 | €16,541 | +€2,115 | +14.7% |
| Taxes, remuneration and social security | 45 | €5,151 | €1,671 | -€3,480 | -67.6% |
| Taxes | 450/3 | €410 | €234 | -€176 | -42.8% |
| Remuneration and social security | 454/9 | €4,742 | €1,437 | -€3,305 | -69.7% |
| Remuneration, social security and pensions | 62 | €20,978 | €20,826 | -€152 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,176 | €8,359 | +€182 | +2.2% |
| Other operating charges | 640/8 | €2,808 | €2,887 | +€78 | +2.8% |
| Gross operating margin | 9900 | €34,026 | €18,366 | -€15,660 | -46.0% |
| Operating profit (loss) | 9901 | €2,063 | -€13,706 | -€15,769 | |
| Financial income | 75/76B | €2,148 | €1,428 | -€720 | -33.5% |
| Recurring financial income | 75 | €2,148 | €1,428 | -€720 | -33.5% |
| Financial charges | 65/66B | €1,397 | €1,788 | +€391 | +28.0% |
| Recurring financial charges | 65 | €1,397 | €1,788 | +€391 | +28.0% |
| Profit (loss) for the period before taxes | 9903 | €2,813 | -€14,066 | -€16,879 | |
| Profit (loss) for the period | 9904 | €2,813 | -€14,066 | -€16,879 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,813 | -€14,066 | -€16,879 |
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 25 October 2026 via checked.be.