HORSES & RIDERS PERFORMANCE: 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.
HORSES & RIDERS PERFORMANCE
Largest movements
- Total assets +€101,930
up €101,930 (+22.3%), from €456,121 to €558,051
- Total equity and liabilities +€101,930
up €101,930 (+22.3%), from €456,121 to €558,051
- Gross operating margin +€58,826
no longer reported in 2025 (was -€58,826)
- Depreciation -€17,571
no longer reported in 2025 (was €17,571)
- Other operating charges -€623
no longer reported in 2025 (was €623)
From the 2024 result to the 2025 result
The net result is not in both sets of accounts; without it the difference cannot be explained line by line.
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €456,121 | €558,051 | +€101,930 | +22.3% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €447,136 | - | -€447,136 | |
| Tangible fixed assets | 22/27 | €447,136 | - | -€447,136 | |
| Land and buildings | 22 | €7,563 | - | -€7,563 | |
| Plant, machinery and equipment | 23 | €398,585 | - | -€398,585 | |
| Furniture and vehicles | 24 | €36,684 | - | -€36,684 | |
| Other tangible fixed assets | 26 | €4,305 | - | -€4,305 | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €8,985 | - | -€8,985 | |
| Stocks and contracts in progress | 3 | €4,651 | - | -€4,651 | |
| Stocks | 30/36 | €4,651 | - | -€4,651 | |
| Amounts receivable within one year | 40/41 | €3,116 | - | -€3,116 | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €3,116 | - | -€3,116 | |
| Cash at bank and in hand | 54/58 | €1,218 | - | -€1,218 | |
| Total equity and liabilities | 10/49 | €456,121 | €558,051 | +€101,930 | +22.3% |
| Equity | 10/15 | €55,271 | - | -€55,271 | |
| Contributions | 10/11 | €318,600 | - | -€318,600 | |
| Profit (loss) carried forward | 14 | -€263,329 | - | +€263,329 | |
| Amounts payable | 17/49 | €400,850 | - | -€400,850 | |
| Amounts payable within one year | 42/48 | €400,817 | - | -€400,817 | |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €9,086 | - | -€9,086 | |
| Suppliers | 440/4 | €9,086 | - | -€9,086 | |
| Taxes, remuneration and social security | 45 | €1,437 | - | -€1,437 | |
| Taxes | 450/3 | €1,437 | - | -€1,437 | |
| Other amounts payable | 47/48 | €390,294 | - | -€390,294 | |
| Accrued charges and deferred income | 492/3 | €33 | - | -€33 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,571 | - | -€17,571 | |
| Other operating charges | 640/8 | €623 | - | -€623 | |
| Gross operating margin | 9900 | -€58,826 | - | +€58,826 | |
| Operating profit (loss) | 9901 | -€77,021 | - | +€77,021 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €511 | - | -€511 | |
| Recurring financial charges | 65 | €511 | - | -€511 | |
| Profit (loss) for the period before taxes | 9903 | -€77,532 | - | +€77,532 | |
| Profit (loss) for the period | 9904 | -€77,532 | - | +€77,532 | |
| Profit (loss) for the period to be appropriated | 9905 | -€77,532 | - | +€77,532 |
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 24 October 2026 via checked.be.