HORTAPLAST: 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.
HORTAPLAST
Largest movements
- Cash +€10,061
up €10,061, from €0 to €10,061
- Tangible fixed assets -€9,891
down €9,891 (-90.0%), from €10,996 to €1,105
- Receivables within one year -€7,114
down €7,114 (-14.7%), from €48,540 to €41,426
of which Trade receivables: -€5,047
- Stocks and contracts -€4,900
down €4,900 (-71.0%), from €6,900 to €2,000
of which Contracts in progress: -€4,900
- Reserves +€17,349
up €17,349 (+933%), from €1,860 to €19,209
of which Distributable reserves: +€17,349
- Other debts -€13,519
no longer reported in 2025 (was €13,519)
- Trade debts -€6,671
down €6,671 (-42.1%), from €15,830 to €9,159
- Debts after one year -€5,700
down €5,700 (-92.2%), from €6,180 to €480
- Current portion of long-term debt -€3,709
down €3,709 (-76.8%), from €4,832 to €1,123
- Other operating charges -€6,206
down €6,206 (-91.6%), from €6,776 to €569
- Gross operating margin +€4,921
up €4,921 (+40.8%), from €12,074 to €16,995
- Financial income -€2,766
no longer reported in 2025 (was €2,766)
- Taxes +€2,523
up €2,523 (+290%), from €870 to €3,393
- Financial charges -€2,264
down €2,264 (-90.3%), from €2,508 to €244
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €66,589 | €54,753 | -€11,835 | -17.8% |
| Fixed assets | 21/28 | €11,004 | €1,113 | -€9,891 | -89.9% |
| Tangible fixed assets | 22/27 | €10,996 | €1,105 | -€9,891 | -90.0% |
| Furniture and vehicles | 24 | €10,996 | €1,105 | -€9,891 | -90.0% |
| Financial fixed assets | 28 | €8 | €8 | = | 0.0% |
| Current assets | 29/58 | €55,585 | €53,641 | -€1,944 | -3.5% |
| Stocks and contracts in progress | 3 | €6,900 | €2,000 | -€4,900 | -71.0% |
| Stocks | 30/36 | €2,000 | €2,000 | = | 0.0% |
| Contracts in progress | 37 | €4,900 | - | -€4,900 | |
| Amounts receivable within one year | 40/41 | €48,540 | €41,426 | -€7,114 | -14.7% |
| Trade receivables | 40 | €8,409 | €3,362 | -€5,047 | -60.0% |
| Other amounts receivable | 41 | €40,131 | €38,064 | -€2,067 | -5.2% |
| Cash at bank and in hand | 54/58 | €0 | €10,061 | +€10,061 | |
| Deferred charges and accrued income | 490/1 | €145 | €153 | +€8 | +5.6% |
| Total equity and liabilities | 10/49 | €66,589 | €54,753 | -€11,835 | -17.8% |
| Equity | 10/15 | €20,460 | €37,809 | +€17,349 | +84.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €19,209 | +€17,349 | +933% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | - | €17,349 | +€17,349 | |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €46,129 | €16,944 | -€29,184 | -63.3% |
| Amounts payable after more than one year | 17 | €6,180 | €480 | -€5,700 | -92.2% |
| Financial debts | 170/4 | €6,180 | €480 | -€5,700 | -92.2% |
| Amounts payable within one year | 42/48 | €39,274 | €16,464 | -€22,810 | -58.1% |
| Current portion of amounts payable after more than one year | 42 | €4,832 | €1,123 | -€3,709 | -76.8% |
| Financial debts | 43 | €2,549 | - | -€2,549 | |
| Credit institutions | 430/8 | €2,549 | - | -€2,549 | |
| Trade debts | 44 | €15,830 | €9,159 | -€6,671 | -42.1% |
| Suppliers | 440/4 | €15,830 | €9,159 | -€6,671 | -42.1% |
| Taxes, remuneration and social security | 45 | €2,544 | €6,182 | +€3,637 | +143% |
| Taxes | 450/3 | €1,662 | €6,182 | +€4,519 | +272% |
| Remuneration and social security | 454/9 | €882 | - | -€882 | |
| Other amounts payable | 47/48 | €13,519 | - | -€13,519 | |
| Accrued charges and deferred income | 492/3 | €675 | - | -€675 | |
| Remuneration, social security and pensions | 62 | €1,826 | - | -€1,826 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,996 | €4,895 | -€100 | -2.0% |
| Other operating charges | 640/8 | €6,776 | €569 | -€6,206 | -91.6% |
| Non-recurring operating charges | 66A | €0 | - | -€0 | |
| Gross operating margin | 9900 | €12,074 | €16,995 | +€4,921 | +40.8% |
| Operating profit (loss) | 9901 | -€1,524 | €11,530 | +€13,054 | |
| Financial income | 75/76B | €2,766 | - | -€2,766 | |
| Recurring financial income | 75 | €2,766 | - | -€2,766 | |
| Financial charges | 65/66B | €2,508 | €244 | -€2,264 | -90.3% |
| Recurring financial charges | 65 | €2,508 | €244 | -€2,264 | -90.3% |
| Profit (loss) for the period before taxes | 9903 | -€1,266 | €11,285 | +€12,551 | |
| Income taxes | 67/77 | €870 | €3,393 | +€2,523 | +290% |
| Profit (loss) for the period | 9904 | -€2,136 | €7,892 | +€10,029 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,136 | €7,892 | +€10,029 |
Source: filed annual accounts (NBB), financial years ended 30 June 2023 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.