HORSE POWER: what changed
HORSE POWER
Largest movements
- Tangible fixed assets -€63,386
down €63,386 (-12.2%), from €518,322 to €454,936
of which Furniture and vehicles: -€132,007
- Receivables within one year -€58,585
down €58,585 (-6.0%), from €982,115 to €923,530
of which Other amounts receivable: -€58,585
- Cash -€34,107
down €34,107 (-94.0%), from €36,274 to €2,167
mainly Debts after one year (-€115,429) and Net result for the year (-€43,644)
- Debts after one year -€115,429
down €115,429 (-14.6%), from €789,532 to €674,103
- Profit (loss) carried forward -€43,644
down €43,644 (-30.4%), from -€143,344 to -€186,988
- Other debts +€36,300
up €36,300 (+363%), from €10,000 to €46,300
- Trade debts -€31,502
down €31,502 (-74.5%), from €42,294 to €10,792
- Turnover +€51,391
up €51,391 (+74.9%), from €68,609 to €120,000
- Gross operating margin +€46,758
up €46,758 (+160%), from €29,198 to €75,956
- Financial charges +€17,049
up €17,049 (+51.2%), from €33,308 to €50,357
- Purchases and services +€4,994
up €4,994 (+12.7%), from €39,411 to €44,405
- Other operating charges -€2,578
down €2,578 (-30.6%), from €8,435 to €5,857
Change in the result, 2023 to 2024
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 2023 and 2024 balance sheets and the 2024 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 | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,536,711 | €1,380,633 | -€156,078 | -10.2% |
| Fixed assets | 21/28 | €518,322 | €454,936 | -€63,386 | -12.2% |
| Tangible fixed assets | 22/27 | €518,322 | €454,936 | -€63,386 | -12.2% |
| Land and buildings | 22 | €289,835 | €342,033 | +€52,198 | +18.0% |
| Plant, machinery and equipment | 23 | €4,380 | €112,903 | +€108,523 | +2,478% |
| Furniture and vehicles | 24 | €132,007 | - | -€132,007 | |
| Other tangible fixed assets | 26 | €92,100 | - | -€92,100 | |
| Current assets | 29/58 | €1,018,389 | €925,697 | -€92,692 | -9.1% |
| Amounts receivable within one year | 40/41 | €982,115 | €923,530 | -€58,585 | -6.0% |
| Trade receivables | 40 | €90,475 | €90,475 | = | 0.0% |
| Other amounts receivable | 41 | €891,640 | €833,055 | -€58,585 | -6.6% |
| Cash at bank and in hand | 54/58 | €36,274 | €2,167 | -€34,107 | -94.0% |
| Total equity and liabilities | 10/49 | €1,536,711 | €1,380,633 | -€156,078 | -10.2% |
| Equity | 10/15 | €572,736 | €529,092 | -€43,644 | -7.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €709,880 | €709,880 | = | 0.0% |
| Distributable reserves | 133 | €709,880 | €709,880 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€143,344 | -€186,988 | -€43,644 | -30.4% |
| Amounts payable | 17/49 | €963,975 | €851,541 | -€112,434 | -11.7% |
| Amounts payable after more than one year | 17 | €789,532 | €674,103 | -€115,429 | -14.6% |
| Financial debts | 170/4 | €789,532 | €674,103 | -€115,429 | -14.6% |
| Amounts payable within one year | 42/48 | €174,443 | €177,438 | +€2,995 | +1.7% |
| Current portion of amounts payable after more than one year | 42 | €109,022 | €115,429 | +€6,407 | +5.9% |
| Trade debts | 44 | €42,294 | €10,792 | -€31,502 | -74.5% |
| Suppliers | 440/4 | €42,294 | €10,792 | -€31,502 | -74.5% |
| Taxes, remuneration and social security | 45 | €13,127 | €4,917 | -€8,210 | -62.5% |
| Taxes | 450/3 | €13,127 | €4,917 | -€8,210 | -62.5% |
| Other amounts payable | 47/48 | €10,000 | €46,300 | +€36,300 | +363% |
| Turnover | 70 | €68,609 | €120,000 | +€51,391 | +74.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €39,411 | €44,405 | +€4,994 | +12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,386 | €63,386 | = | 0.0% |
| Other operating charges | 640/8 | €8,435 | €5,857 | -€2,578 | -30.6% |
| Gross operating margin | 9900 | €29,198 | €75,956 | +€46,758 | +160% |
| Operating profit (loss) | 9901 | -€42,623 | €6,713 | +€49,336 | |
| Financial charges | 65/66B | €33,308 | €50,357 | +€17,049 | +51.2% |
| Recurring financial charges | 65 | €33,308 | €50,357 | +€17,049 | +51.2% |
| Profit (loss) for the period before taxes | 9903 | -€75,931 | -€43,644 | +€32,287 | +42.5% |
| Profit (loss) for the period | 9904 | -€75,931 | -€43,644 | +€32,287 | +42.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€75,931 | -€43,644 | +€32,287 | +42.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.