Horse-tack: 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.
Horse-tack
Largest movements
- Receivables within one year -€189
down €189 (-74.8%), from €253 to €64
of which Other amounts receivable: -€189
- Profit (loss) carried forward -€300
down €300 (-5.4%), from -€5,537 to -€5,837
- Tax, wage and social debts +€111
new in 2025: €111
- Gross operating margin -€757
no longer reported in 2025 (was €757)
- Other operating charges +€182
up €182 (+154%), from €118 to €300
- Financial charges -€135
no longer reported in 2025 (was €135)
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 | €2,315 | €2,126 | -€189 | -8.2% |
| Current assets | 29/58 | €2,315 | €2,126 | -€189 | -8.2% |
| Amounts receivable within one year | 40/41 | €253 | €64 | -€189 | -74.8% |
| Trade receivables | 40 | €64 | €64 | = | 0.0% |
| Other amounts receivable | 41 | €189 | - | -€189 | |
| Cash at bank and in hand | 54/58 | €612 | €612 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €1,450 | €1,450 | = | 0.0% |
| Total equity and liabilities | 10/49 | €2,315 | €2,126 | -€189 | -8.2% |
| Equity | 10/15 | €463 | €163 | -€300 | -64.8% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Contributions outside capital | 11 | €6,000 | - | -€6,000 | |
| Other | 1109/19 | €6,000 | - | -€6,000 | |
| Profit (loss) carried forward | 14 | -€5,537 | -€5,837 | -€300 | -5.4% |
| Amounts payable | 17/49 | €1,852 | €1,963 | +€111 | +6.0% |
| Amounts payable within one year | 42/48 | €1,852 | €1,963 | +€111 | +6.0% |
| Trade debts | 44 | €1,205 | €1,205 | = | 0.0% |
| Suppliers | 440/4 | €1,205 | €1,205 | = | 0.0% |
| Taxes, remuneration and social security | 45 | - | €111 | +€111 | |
| Taxes | 450/3 | - | €111 | +€111 | |
| Other amounts payable | 47/48 | €647 | €647 | = | 0.0% |
| Other operating charges | 640/8 | €118 | €300 | +€182 | +154% |
| Gross operating margin | 9900 | €757 | - | -€757 | |
| Operating profit (loss) | 9901 | €639 | -€300 | -€939 | |
| Financial charges | 65/66B | €135 | - | -€135 | |
| Recurring financial charges | 65 | €135 | - | -€135 | |
| Profit (loss) for the period before taxes | 9903 | €504 | -€300 | -€804 | |
| Profit (loss) for the period | 9904 | €504 | -€300 | -€804 | |
| Profit (loss) for the period to be appropriated | 9905 | €504 | -€300 | -€804 |
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 30 October 2026 via checked.be.