Horta Kumtich: 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.
Horta Kumtich
Largest movements
- Cash -€41,394
down €41,394 (-10.2%), from €407,444 to €366,050
mainly Accrued charges and deferred income (-€81,287) and Investment in fixed assets (net) (-€19,866)
- Accrued charges and deferred income -€81,287
no longer reported in 2024 (was €81,287)
- Tax, wage and social debts +€68,502
up €68,502 (+76.8%), from €89,204 to €157,706
of which Taxes: +€70,174
- Gross operating margin +€73,718
up €73,718 (+24.0%), from €307,180 to €380,899
- Staff costs +€48,371
up €48,371 (+21.5%), from €224,741 to €273,111
- Financial charges +€11,583
up €11,583 (+39.7%), from €29,160 to €40,744
- Other operating charges +€7,828
up €7,828 (+22.9%), from €34,231 to €42,059
- Taxes +€5,850
up €5,850 (+79.4%), from €7,372 to €13,222
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.
Derived cash bridge
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 | €1,270,505 | €1,259,544 | -€10,961 | -0.9% |
| Fixed assets | 21/28 | €59,486 | €65,156 | +€5,670 | +9.5% |
| Tangible fixed assets | 22/27 | €59,486 | €65,156 | +€5,670 | +9.5% |
| Plant, machinery and equipment | 23 | €26,355 | €21,245 | -€5,110 | -19.4% |
| Furniture and vehicles | 24 | €14,499 | €16,408 | +€1,909 | +13.2% |
| Other tangible fixed assets | 26 | €18,632 | €27,503 | +€8,871 | +47.6% |
| Current assets | 29/58 | €1,211,020 | €1,194,388 | -€16,632 | -1.4% |
| Stocks and contracts in progress | 3 | €621,568 | €631,285 | +€9,717 | +1.6% |
| Stocks | 30/36 | €621,568 | €631,285 | +€9,717 | +1.6% |
| Amounts receivable within one year | 40/41 | €125,157 | €132,965 | +€7,808 | +6.2% |
| Trade receivables | 40 | €2,396 | €12,592 | +€10,196 | +425% |
| Other amounts receivable | 41 | €122,760 | €120,373 | -€2,387 | -1.9% |
| Current investments | 50/53 | €45,696 | €45,696 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €407,444 | €366,050 | -€41,394 | -10.2% |
| Deferred charges and accrued income | 490/1 | €11,155 | €18,392 | +€7,237 | +64.9% |
| Total equity and liabilities | 10/49 | €1,270,505 | €1,259,544 | -€10,961 | -0.9% |
| Equity | 10/15 | €371,894 | €372,530 | +€636 | +0.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €351,983 | €352,619 | +€636 | +0.2% |
| Distributable reserves | 133 | €351,983 | €352,619 | +€636 | +0.2% |
| Profit (loss) carried forward | 14 | €1,311 | €1,311 | = | 0.0% |
| Amounts payable | 17/49 | €898,612 | €887,015 | -€11,597 | -1.3% |
| Amounts payable within one year | 42/48 | €817,325 | €887,015 | +€69,690 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | €400,000 | €390,000 | -€10,000 | -2.5% |
| Trade debts | 44 | €326,141 | €333,698 | +€7,558 | +2.3% |
| Suppliers | 440/4 | €326,141 | €333,698 | +€7,558 | +2.3% |
| Taxes, remuneration and social security | 45 | €89,204 | €157,706 | +€68,502 | +76.8% |
| Taxes | 450/3 | €73,273 | €143,447 | +€70,174 | +95.8% |
| Remuneration and social security | 454/9 | €15,931 | €14,259 | -€1,672 | -10.5% |
| Other amounts payable | 47/48 | €1,980 | €5,610 | +€3,630 | +183% |
| Accrued charges and deferred income | 492/3 | €81,287 | - | -€81,287 | |
| Remuneration, social security and pensions | 62 | €224,741 | €273,111 | +€48,371 | +21.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,772 | €14,195 | +€2,424 | +20.6% |
| Other operating charges | 640/8 | €34,231 | €42,059 | +€7,828 | +22.9% |
| Gross operating margin | 9900 | €307,180 | €380,899 | +€73,718 | +24.0% |
| Operating profit (loss) | 9901 | €36,436 | €51,532 | +€15,096 | +41.4% |
| Financial income | 75/76B | €1,280 | €3,070 | +€1,789 | +140% |
| Recurring financial income | 75 | €1,280 | €3,070 | +€1,789 | +140% |
| Financial charges | 65/66B | €29,160 | €40,744 | +€11,583 | +39.7% |
| Recurring financial charges | 65 | €29,160 | €40,744 | +€11,583 | +39.7% |
| Profit (loss) for the period before taxes | 9903 | €8,556 | €13,858 | +€5,302 | +62.0% |
| Income taxes | 67/77 | €7,372 | €13,222 | +€5,850 | +79.4% |
| Profit (loss) for the period | 9904 | €1,184 | €636 | -€548 | -46.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,184 | €636 | -€548 | -46.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.