Hortentia: 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.
Hortentia
Largest movements
- Cash +€20,997
up €20,997 (+86.2%), from €24,369 to €45,366
mainly Net result for the year (+€29,300) and Depreciation (+€6,076)
- Receivables after one year +€6,000
up €6,000 (+40.0%), from €15,000 to €21,000
- Tangible fixed assets +€1,517
up €1,517 (+10.6%), from €14,291 to €15,808
of which Furniture and vehicles: +€4,744
- Reserves +€29,300
up €29,300 (+90.6%), from €32,331 to €61,632
- Other debts -€1,391
down €1,391 (-59.1%), from €2,353 to €961
- Trade debts +€929
up €929 (+440%), from €211 to €1,141
- Gross operating margin +€22,955
up €22,955 (+106%), from €21,629 to €44,584
- Taxes +€3,421
up €3,421 (+66.3%), from €5,160 to €8,581
- Depreciation +€2,177
up €2,177 (+55.8%), from €3,899 to €6,076
- Financial income +€1,496
up €1,496 (+4,985,700%), from €0 to €1,496
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 | €55,684 | €83,762 | +€28,078 | +50.4% |
| Fixed assets | 21/28 | €14,291 | €15,808 | +€1,517 | +10.6% |
| Tangible fixed assets | 22/27 | €14,291 | €15,808 | +€1,517 | +10.6% |
| Plant, machinery and equipment | 23 | €8,564 | €5,631 | -€2,934 | -34.3% |
| Furniture and vehicles | 24 | €4,682 | €9,426 | +€4,744 | +101% |
| Other tangible fixed assets | 26 | €1,045 | €751 | -€294 | -28.2% |
| Current assets | 29/58 | €41,393 | €67,954 | +€26,561 | +64.2% |
| Amounts receivable after more than one year | 29 | €15,000 | €21,000 | +€6,000 | +40.0% |
| Trade receivables | 290 | €15,000 | €21,000 | +€6,000 | +40.0% |
| Amounts receivable within one year | 40/41 | €300 | €3 | -€297 | -99.0% |
| Trade receivables | 40 | €270 | - | -€270 | |
| Other amounts receivable | 41 | €30 | €3 | -€27 | -90.3% |
| Cash at bank and in hand | 54/58 | €24,369 | €45,366 | +€20,997 | +86.2% |
| Deferred charges and accrued income | 490/1 | €1,724 | €1,585 | -€139 | -8.1% |
| Total equity and liabilities | 10/49 | €55,684 | €83,762 | +€28,078 | +50.4% |
| Equity | 10/15 | €36,331 | €65,632 | +€29,300 | +80.6% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €32,331 | €61,632 | +€29,300 | +90.6% |
| Distributable reserves | 133 | €32,331 | €61,632 | +€29,300 | +90.6% |
| Amounts payable | 17/49 | €19,353 | €18,131 | -€1,222 | -6.3% |
| Amounts payable within one year | 42/48 | €19,353 | €18,131 | -€1,222 | -6.3% |
| Trade debts | 44 | €211 | €1,141 | +€929 | +440% |
| Suppliers | 440/4 | €211 | €1,141 | +€929 | +440% |
| Taxes, remuneration and social security | 45 | €16,789 | €16,028 | -€761 | -4.5% |
| Taxes | 450/3 | €16,789 | €16,028 | -€761 | -4.5% |
| Other amounts payable | 47/48 | €2,353 | €961 | -€1,391 | -59.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,899 | €6,076 | +€2,177 | +55.8% |
| Other operating charges | 640/8 | €479 | €427 | -€52 | -10.8% |
| Gross operating margin | 9900 | €21,629 | €44,584 | +€22,955 | +106% |
| Operating profit (loss) | 9901 | €17,252 | €38,081 | +€20,830 | +121% |
| Financial income | 75/76B | €0 | €1,496 | +€1,496 | +4,985,700% |
| Recurring financial income | 75 | €0 | €1,496 | +€1,496 | +4,985,700% |
| Financial charges | 65/66B | €1,476 | €1,696 | +€219 | +14.9% |
| Recurring financial charges | 65 | €1,476 | €1,696 | +€219 | +14.9% |
| Profit (loss) for the period before taxes | 9903 | €15,775 | €37,881 | +€22,106 | +140% |
| Income taxes | 67/77 | €5,160 | €8,581 | +€3,421 | +66.3% |
| Profit (loss) for the period | 9904 | €10,616 | €29,300 | +€18,685 | +176% |
| Profit (loss) for the period to be appropriated | 9905 | €10,616 | €29,300 | +€18,685 | +176% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.