Horsecare DL: 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.
Horsecare DL
Largest movements
- Receivables within one year +€1,786
up €1,786 (+831%), from €215 to €2,001
- Cash -€1,571
down €1,571 (-44.9%), from €3,498 to €1,926
mainly Debts after one year (-€5,632) and Investment in fixed assets (net) (-€5,128)
- Tangible fixed assets -€1,096
down €1,096 (-5.0%), from €21,774 to €20,678
of which Plant, machinery and equipment: -€1,092
- Deferred charges and accrued income +€513
up €513 (+46.2%), from €1,111 to €1,624
- Other debts +€6,312
up €6,312 (+16,615%), from €38 to €6,350
- Debts after one year -€5,632
down €5,632 (-32.4%), from €17,403 to €11,772
- Profit (loss) carried forward -€3,789
down €3,789 (-149%), from -€2,542 to -€6,331
- Trade debts +€1,236
up €1,236 (+121%), from €1,018 to €2,254
- Tax, wage and social debts +€1,051
up €1,051 (+113%), from €932 to €1,984
- Gross operating margin -€2,031
down €2,031 (-30.9%), from €6,571 to €4,539
- Other operating charges -€712
down €712 (-46.3%), from €1,536 to €824
- Financial income +€470
up €470 (+1,073%), from €44 to €514
- Depreciation +€383
up €383 (+6.5%), from €5,926 to €6,309
- Taxes +€108
up €108 (+84.4%), from €128 to €236
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 | €27,114 | €26,661 | -€453 | -1.7% |
| Fixed assets | 21/28 | €22,113 | €20,932 | -€1,181 | -5.3% |
| Intangible fixed assets | 21 | €339 | €254 | -€85 | -25.0% |
| Tangible fixed assets | 22/27 | €21,774 | €20,678 | -€1,096 | -5.0% |
| Plant, machinery and equipment | 23 | €3,362 | €2,270 | -€1,092 | -32.5% |
| Furniture and vehicles | 24 | €18,412 | €18,408 | -€4 | 0.0% |
| Current assets | 29/58 | €5,001 | €5,729 | +€728 | +14.5% |
| Stocks and contracts in progress | 3 | €178 | €178 | = | 0.0% |
| Stocks | 30/36 | €178 | €178 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €215 | €2,001 | +€1,786 | +831% |
| Trade receivables | 40 | €215 | €2,001 | +€1,786 | +831% |
| Cash at bank and in hand | 54/58 | €3,498 | €1,926 | -€1,571 | -44.9% |
| Deferred charges and accrued income | 490/1 | €1,111 | €1,624 | +€513 | +46.2% |
| Total equity and liabilities | 10/49 | €27,114 | €26,661 | -€453 | -1.7% |
| Equity | 10/15 | €2,458 | -€1,331 | -€3,789 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,542 | -€6,331 | -€3,789 | -149% |
| Amounts payable | 17/49 | €24,656 | €27,991 | +€3,336 | +13.5% |
| Amounts payable after more than one year | 17 | €17,403 | €11,772 | -€5,632 | -32.4% |
| Financial debts | 170/4 | €17,403 | €11,772 | -€5,632 | -32.4% |
| Amounts payable within one year | 42/48 | €7,252 | €16,220 | +€8,967 | +124% |
| Current portion of amounts payable after more than one year | 42 | €5,264 | €5,632 | +€368 | +7.0% |
| Trade debts | 44 | €1,018 | €2,254 | +€1,236 | +121% |
| Suppliers | 440/4 | €1,018 | €2,254 | +€1,236 | +121% |
| Taxes, remuneration and social security | 45 | €932 | €1,984 | +€1,051 | +113% |
| Taxes | 450/3 | €932 | €1,984 | +€1,051 | +113% |
| Other amounts payable | 47/48 | €38 | €6,350 | +€6,312 | +16,615% |
| Non-recurring operating income | 76A | - | €983 | +€983 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,926 | €6,309 | +€383 | +6.5% |
| Other operating charges | 640/8 | €1,536 | €824 | -€712 | -46.3% |
| Gross operating margin | 9900 | €6,571 | €4,539 | -€2,031 | -30.9% |
| Operating profit (loss) | 9901 | -€891 | -€2,594 | -€1,703 | -191% |
| Financial income | 75/76B | €44 | €514 | +€470 | +1,073% |
| Recurring financial income | 75 | €44 | €514 | +€470 | +1,073% |
| Financial charges | 65/66B | €1,567 | €1,473 | -€94 | -6.0% |
| Recurring financial charges | 65 | €1,567 | €1,473 | -€94 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,414 | -€3,553 | -€1,139 | -47.2% |
| Income taxes | 67/77 | €128 | €236 | +€108 | +84.4% |
| Profit (loss) for the period | 9904 | -€2,542 | -€3,789 | -€1,247 | -49.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,542 | -€3,789 | -€1,247 | -49.1% |
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.