HORTANICA: 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.
HORTANICA
Largest movements
- Cash +€57,630
up €57,630 (+30.3%), from €190,203 to €247,833
mainly Net result for the year (+€49,350) and Depreciation (+€18,336)
- Receivables within one year -€17,643
down €17,643 (-32.2%), from €54,721 to €37,078
of which Trade receivables: -€38,364
- Tangible fixed assets -€13,986
down €13,986 (-21.2%), from €66,088 to €52,102
of which Furniture and vehicles: -€15,474
- Reserves +€49,350
up €49,350 (+71.0%), from €69,518 to €118,867
- Other debts -€21,614
down €21,614 (-14.7%), from €147,061 to €125,447
- Tax, wage and social debts -€4,230
down €4,230 (-24.9%), from €16,956 to €12,725
- Gross operating margin +€31,923
up €31,923 (+49.0%), from €65,106 to €97,030
- Taxes +€9,168
up €9,168 (+91.4%), from €10,034 to €19,202
- Financial income +€1,054
up €1,054 (+535.2%), from €197 to €1,251
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 | €348,224 | €372,378 | +€24,155 | +6.9% |
| Fixed assets | 21/28 | €66,088 | €52,102 | -€13,986 | -21.2% |
| Tangible fixed assets | 22/27 | €66,088 | €52,102 | -€13,986 | -21.2% |
| Plant, machinery and equipment | 23 | €5,664 | €7,152 | +€1,488 | +26.3% |
| Furniture and vehicles | 24 | €60,424 | €44,950 | -€15,474 | -25.6% |
| Current assets | 29/58 | €282,136 | €320,276 | +€38,141 | +13.5% |
| Amounts receivable after more than one year | 29 | €30,267 | €30,267 | = | 0.0% |
| Other amounts receivable | 291 | €30,267 | €30,267 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €54,721 | €37,078 | -€17,643 | -32.2% |
| Trade receivables | 40 | €49,756 | €11,392 | -€38,364 | -77.1% |
| Other amounts receivable | 41 | €4,966 | €25,686 | +€20,720 | +417.3% |
| Cash at bank and in hand | 54/58 | €190,203 | €247,833 | +€57,630 | +30.3% |
| Deferred charges and accrued income | 490/1 | €6,944 | €5,098 | -€1,846 | -26.6% |
| Total equity and liabilities | 10/49 | €348,224 | €372,378 | +€24,155 | +6.9% |
| Equity | 10/15 | €183,518 | €232,867 | +€49,350 | +26.9% |
| Contributions | 10/11 | €114,000 | €114,000 | = | 0.0% |
| Reserves | 13 | €69,518 | €118,867 | +€49,350 | +71.0% |
| Distributable reserves | 133 | €69,518 | €118,867 | +€49,350 | +71.0% |
| Amounts payable | 17/49 | €164,706 | €139,511 | -€25,195 | -15.3% |
| Amounts payable within one year | 42/48 | €164,453 | €139,249 | -€25,204 | -15.3% |
| Trade debts | 44 | €437 | €1,077 | +€640 | +146.7% |
| Suppliers | 440/4 | €437 | €1,077 | +€640 | +146.7% |
| Taxes, remuneration and social security | 45 | €16,956 | €12,725 | -€4,230 | -24.9% |
| Taxes | 450/3 | €16,956 | €12,725 | -€4,230 | -24.9% |
| Other amounts payable | 47/48 | €147,061 | €125,447 | -€21,614 | -14.7% |
| Accrued charges and deferred income | 492/3 | €253 | €262 | +€9 | +3.4% |
| Non-recurring operating income | 76A | €7,862 | €0 | -€7,862 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,546 | €18,336 | +€790 | +4.5% |
| Other operating charges | 640/8 | €1,279 | €1,626 | +€347 | +27.1% |
| Gross operating margin | 9900 | €65,106 | €97,030 | +€31,923 | +49.0% |
| Operating profit (loss) | 9901 | €46,281 | €77,068 | +€30,787 | +66.5% |
| Financial income | 75/76B | €197 | €1,251 | +€1,054 | +535.2% |
| Recurring financial income | 75 | €197 | €1,251 | +€1,054 | +535.2% |
| Financial charges | 65/66B | €10,294 | €9,766 | -€527 | -5.1% |
| Recurring financial charges | 65 | €10,294 | €9,766 | -€527 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | €36,184 | €68,552 | +€32,367 | +89.5% |
| Income taxes | 67/77 | €10,034 | €19,202 | +€9,168 | +91.4% |
| Profit (loss) for the period | 9904 | €26,150 | €49,350 | +€23,200 | +88.7% |
| Profit (loss) for the period to be appropriated | 9905 | €26,150 | €49,350 | +€23,200 | +88.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.