Horsify: 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.
Horsify
Largest movements
- Receivables within one year +€1,786
up €1,786 (+786.1%), from €227 to €2,013
of which Trade receivables: +€1,786
- Tangible fixed assets -€1,558
down €1,558 (-39.3%), from €3,968 to €2,409
- Cash +€1,415
up €1,415 (+129.7%), from €1,091 to €2,506
mainly Other debts (+€4,400) and Depreciation (+€1,558)
- Stocks and contracts -€1,306
down €1,306 (-5.0%), from €25,919 to €24,613
- Profit (loss) carried forward -€5,277
down €5,277 (-12.5%), from -€42,350 to -€47,627
- Other debts +€4,400
up €4,400 (+21.8%), from €20,159 to €24,559
- Tax, wage and social debts +€570
up €570 (+173.1%), from €330 to €900
- Trade debts +€470
up €470 (+6.5%), from €7,277 to €7,747
- Financial income +€921
up €921 (+3175.0%), from €29 to €950
of which Financial income: +€921
- Depreciation -€265
down €265 (-14.5%), from €1,823 to €1,558
- Other operating charges -€138
down €138 (-18.7%), from €737 to €600
- Gross operating margin +€117
up €117 (+2.9%), from -€3,956 to -€3,839
- Taxes -€52
down €52 (-87.4%), from €59 to €7
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.
Cash bridge derived
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 | €31,378 | €31,542 | +€164 | +0.5% |
| Fixed assets | 21/28 | €3,968 | €2,409 | -€1,558 | -39.3% |
| Tangible fixed assets | 22/27 | €3,968 | €2,409 | -€1,558 | -39.3% |
| Furniture and vehicles | 24 | €3,968 | €2,409 | -€1,558 | -39.3% |
| Current assets | 29/58 | €27,411 | €29,133 | +€1,722 | +6.3% |
| Stocks and contracts in progress | 3 | €25,919 | €24,613 | -€1,306 | -5.0% |
| Stocks | 30/36 | €25,919 | €24,613 | -€1,306 | -5.0% |
| Amounts receivable within one year | 40/41 | €227 | €2,013 | +€1,786 | +786.1% |
| Trade receivables | 40 | €217 | €2,003 | +€1,786 | +824.8% |
| Other amounts receivable | 41 | €11 | €11 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,091 | €2,506 | +€1,415 | +129.7% |
| Deferred charges and accrued income | 490/1 | €173 | - | -€173 | |
| Total equity and liabilities | 10/49 | €31,378 | €31,542 | +€164 | +0.5% |
| Equity | 10/15 | €3,612 | -€1,664 | -€5,277 | |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Reserves | 13 | €963 | €963 | = | 0.0% |
| Tax-exempt reserves | 132 | €963 | €963 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€42,350 | -€47,627 | -€5,277 | -12.5% |
| Amounts payable | 17/49 | €27,766 | €33,206 | +€5,440 | +19.6% |
| Amounts payable within one year | 42/48 | €27,766 | €33,206 | +€5,440 | +19.6% |
| Trade debts | 44 | €7,277 | €7,747 | +€470 | +6.5% |
| Suppliers | 440/4 | €7,277 | €7,747 | +€470 | +6.5% |
| Taxes, remuneration and social security | 45 | €330 | €900 | +€570 | +173.1% |
| Taxes | 450/3 | €330 | €900 | +€570 | +173.1% |
| Other amounts payable | 47/48 | €20,159 | €24,559 | +€4,400 | +21.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,823 | €1,558 | -€265 | -14.5% |
| Other operating charges | 640/8 | €737 | €600 | -€138 | -18.7% |
| Gross operating margin | 9900 | -€3,956 | -€3,839 | +€117 | +2.9% |
| Operating profit (loss) | 9901 | -€6,517 | -€5,997 | +€519 | +8.0% |
| Financial income | 75/76B | €29 | €950 | +€921 | +3175.0% |
| Recurring financial income | 75 | €29 | €950 | +€921 | +3175.0% |
| Non-recurring financial income | 76B | €29 | €950 | +€921 | +3175.0% |
| Financial charges | 65/66B | €257 | €222 | -€34 | -13.4% |
| Recurring financial charges | 65 | €257 | €222 | -€34 | -13.4% |
| Profit (loss) for the period before taxes | 9903 | -€6,744 | -€5,269 | +€1,475 | +21.9% |
| Income taxes | 67/77 | €59 | €7 | -€52 | -87.4% |
| Profit (loss) for the period | 9904 | -€6,804 | -€5,277 | +€1,527 | +22.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,804 | -€5,277 | +€1,527 | +22.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.