Horsevolution: what changed
Two fiscal 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.
Horsevolution
Largest movements
- Tangible fixed assets +€224,190
up €224,190 (+638.0%), from €35,139 to €259,328
of which Other tangible fixed assets: +€174,894
- Receivables within one year +€17,302
up €17,302 (+380.7%), from €4,545 to €21,846
of which Other amounts receivable: +€20,562
- Deferred charges and accrued income +€3,379
new in 2024: €3,379
- Debts after one year +€218,210
up €218,210 (+363.7%), from €60,000 to €278,210
- Contributions +€20,000
up €20,000 (+100.0%), from €20,000 to €40,000
- Trade debts +€12,325
new in 2024: €12,325
- Profit (loss) carried forward -€4,536
down €4,536 (-7.3%), from -€62,485 to -€67,020
- Other operating charges -€23,618
down €23,618 (-97.8%), from €24,141 to €524
- Gross operating margin -€13,612
down €13,612 (-49.8%), from €27,307 to €13,695
- Depreciation +€9,986
up €9,986 (+130.9%), from €7,630 to €17,616
- Financial charges -€565
down €565 (-95.0%), from €595 to €30
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €40,206 | €285,058 | +€244,852 | +609.0% |
| Fixed assets | 21/28 | €35,139 | €259,328 | +€224,190 | +638.0% |
| Tangible fixed assets | 22/27 | €35,139 | €259,328 | +€224,190 | +638.0% |
| Plant, machinery and equipment | 23 | €21,157 | €14,810 | -€6,347 | -30.0% |
| Furniture and vehicles | 24 | €220 | €55,862 | +€55,642 | +25308.0% |
| Other tangible fixed assets | 26 | €13,762 | €188,656 | +€174,894 | +1270.9% |
| Current assets | 29/58 | €5,068 | €25,730 | +€20,663 | +407.7% |
| Stocks and contracts in progress | 3 | €416 | €468 | +€52 | +12.4% |
| Stocks | 30/36 | €416 | €468 | +€52 | +12.4% |
| Amounts receivable within one year | 40/41 | €4,545 | €21,846 | +€17,302 | +380.7% |
| Trade receivables | 40 | €4,350 | €1,090 | -€3,260 | -74.9% |
| Other amounts receivable | 41 | €195 | €20,756 | +€20,562 | +10548.2% |
| Cash at bank and in hand | 54/58 | €106 | €36 | -€70 | -66.1% |
| Deferred charges and accrued income | 490/1 | - | €3,379 | +€3,379 | |
| Total equity and liabilities | 10/49 | €40,206 | €285,058 | +€244,852 | +609.0% |
| Equity | 10/15 | -€42,485 | -€27,020 | +€15,464 | +36.4% |
| Contributions | 10/11 | €20,000 | €40,000 | +€20,000 | +100.0% |
| Profit (loss) carried forward | 14 | -€62,485 | -€67,020 | -€4,536 | -7.3% |
| Amounts payable | 17/49 | €82,691 | €312,079 | +€229,388 | +277.4% |
| Amounts payable after more than one year | 17 | €60,000 | €278,210 | +€218,210 | +363.7% |
| Other amounts payable | 178/9 | €60,000 | €278,210 | +€218,210 | +363.7% |
| Amounts payable within one year | 42/48 | €22,691 | €33,869 | +€11,178 | +49.3% |
| Trade debts | 44 | - | €12,325 | +€12,325 | |
| Suppliers | 440/4 | - | €12,325 | +€12,325 | |
| Taxes, remuneration and social security | 45 | - | €61 | +€61 | |
| Taxes | 450/3 | - | €61 | +€61 | |
| Other amounts payable | 47/48 | €22,691 | €21,482 | -€1,209 | -5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,630 | €17,616 | +€9,986 | +130.9% |
| Other operating charges | 640/8 | €24,141 | €524 | -€23,618 | -97.8% |
| Gross operating margin | 9900 | €27,307 | €13,695 | -€13,612 | -49.8% |
| Operating profit (loss) | 9901 | -€4,464 | -€4,445 | +€19 | +0.4% |
| Financial income | 75/76B | €9 | €0 | -€9 | -99.7% |
| Recurring financial income | 75 | €9 | €0 | -€9 | -99.7% |
| Financial charges | 65/66B | €595 | €30 | -€565 | -95.0% |
| Recurring financial charges | 65 | €595 | €30 | -€565 | -95.0% |
| Profit (loss) for the period before taxes | 9903 | -€5,049 | -€4,475 | +€575 | +11.4% |
| Income taxes | 67/77 | - | €61 | +€61 | |
| Profit (loss) for the period | 9904 | -€5,049 | -€4,536 | +€514 | +10.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,049 | -€4,536 | +€514 | +10.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.