Horta Lammens Aalter: 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 Lammens Aalter
Largest movements
- Tangible fixed assets -€44,433
down €44,433 (-14.9%), from €299,121 to €254,689
of which Plant, machinery and equipment: -€29,269
- Other debts +€218,870
up €218,870 (+101%), from €217,661 to €436,532
- Profit (loss) carried forward -€182,567
down €182,567 (-52.6%), from -€346,996 to -€529,562
- Trade debts -€54,029
down €54,029 (-12.4%), from €437,201 to €383,172
- Debts after one year -€49,586
down €49,586 (-30.2%), from €164,109 to €114,523
- Tax, wage and social debts +€9,585
up €9,585 (+74.3%), from €12,906 to €22,491
of which Remuneration and social security: +€10,890
- Gross operating margin +€137,120
up €137,120, from -€124,546 to €12,574
- Depreciation -€15,388
down €15,388 (-22.8%), from €67,424 to €52,036
- Staff costs -€13,977
down €13,977 (-10.7%), from €131,029 to €117,052
- Financial charges +€2,174
up €2,174 (+9.1%), from €23,894 to €26,068
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 | €747,015 | €691,242 | -€55,773 | -7.5% |
| Fixed assets | 21/28 | €299,595 | €255,162 | -€44,433 | -14.8% |
| Tangible fixed assets | 22/27 | €299,121 | €254,689 | -€44,433 | -14.9% |
| Plant, machinery and equipment | 23 | €246,343 | €217,074 | -€29,269 | -11.9% |
| Furniture and vehicles | 24 | €34,575 | €23,083 | -€11,492 | -33.2% |
| Other tangible fixed assets | 26 | €18,203 | €14,532 | -€3,672 | -20.2% |
| Financial fixed assets | 28 | €474 | €474 | = | 0.0% |
| Current assets | 29/58 | €447,420 | €436,080 | -€11,341 | -2.5% |
| Stocks and contracts in progress | 3 | €421,951 | €417,762 | -€4,189 | -1.0% |
| Stocks | 30/36 | €421,951 | €417,762 | -€4,189 | -1.0% |
| Amounts receivable within one year | 40/41 | €20,523 | €15,311 | -€5,212 | -25.4% |
| Trade receivables | 40 | €17,842 | €12,440 | -€5,402 | -30.3% |
| Other amounts receivable | 41 | €2,681 | €2,871 | +€189 | +7.1% |
| Cash at bank and in hand | 54/58 | €4,946 | €3,007 | -€1,939 | -39.2% |
| Total equity and liabilities | 10/49 | €747,015 | €691,242 | -€55,773 | -7.5% |
| Equity | 10/15 | -€331,996 | -€514,562 | -€182,567 | -55.0% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€346,996 | -€529,562 | -€182,567 | -52.6% |
| Amounts payable | 17/49 | €1,079,011 | €1,205,804 | +€126,793 | +11.8% |
| Amounts payable after more than one year | 17 | €164,109 | €114,523 | -€49,586 | -30.2% |
| Financial debts | 170/4 | €164,109 | €114,523 | -€49,586 | -30.2% |
| Amounts payable within one year | 42/48 | €914,902 | €1,091,281 | +€176,380 | +19.3% |
| Current portion of amounts payable after more than one year | 42 | €47,633 | €49,586 | +€1,953 | +4.1% |
| Financial debts | 43 | €199,500 | €199,500 | = | 0.0% |
| Other loans | 439 | €199,500 | €199,500 | = | 0.0% |
| Trade debts | 44 | €437,201 | €383,172 | -€54,029 | -12.4% |
| Suppliers | 440/4 | €437,201 | €383,172 | -€54,029 | -12.4% |
| Taxes, remuneration and social security | 45 | €12,906 | €22,491 | +€9,585 | +74.3% |
| Taxes | 450/3 | €7,705 | €6,401 | -€1,305 | -16.9% |
| Remuneration and social security | 454/9 | €5,201 | €16,091 | +€10,890 | +209% |
| Other amounts payable | 47/48 | €217,661 | €436,532 | +€218,870 | +101% |
| Remuneration, social security and pensions | 62 | €131,029 | €117,052 | -€13,977 | -10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,424 | €52,036 | -€15,388 | -22.8% |
| Other operating charges | 640/8 | €504 | €391 | -€113 | -22.5% |
| Gross operating margin | 9900 | -€124,546 | €12,574 | +€137,120 | |
| Operating profit (loss) | 9901 | -€323,503 | -€156,905 | +€166,599 | +51.5% |
| Financial income | 75/76B | €402 | €406 | +€4 | +1.0% |
| Recurring financial income | 75 | €402 | €406 | +€4 | +1.0% |
| Financial charges | 65/66B | €23,894 | €26,068 | +€2,174 | +9.1% |
| Recurring financial charges | 65 | €23,894 | €26,068 | +€2,174 | +9.1% |
| Profit (loss) for the period before taxes | 9903 | -€346,996 | -€182,567 | +€164,429 | +47.4% |
| Profit (loss) for the period | 9904 | -€346,996 | -€182,567 | +€164,429 | +47.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€346,996 | -€182,567 | +€164,429 | +47.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.