HORTI & API-CULTURES: 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.
HORTI & API-CULTURES
Largest movements
- Tangible fixed assets -€27,146
down €27,146 (-10.2%), from €265,343 to €238,198
of which Land and buildings: -€18,889
- Accrued charges and deferred income +€40,617
new in 2025: €40,617
- Profit (loss) carried forward -€27,784
down €27,784 (-19.2%), from -€144,617 to -€172,401
- Other debts -€26,173
no longer reported in 2025 (was €26,173)
- Reserves -€15,136
down €15,136 (-6.1%), from €247,593 to €232,457
- Gross operating margin +€2,548
up €2,548 (+16.0%), from -€15,917 to -€13,369
- Other operating charges -€577
down €577 (-19.9%), from €2,898 to €2,321
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 | €268,975 | €240,463 | -€28,512 | -10.6% |
| Fixed assets | 21/28 | €265,603 | €238,458 | -€27,146 | -10.2% |
| Tangible fixed assets | 22/27 | €265,343 | €238,198 | -€27,146 | -10.2% |
| Land and buildings | 22 | €202,515 | €183,626 | -€18,889 | -9.3% |
| Plant, machinery and equipment | 23 | €62,828 | €54,572 | -€8,256 | -13.1% |
| Financial fixed assets | 28 | €260 | €260 | = | 0.0% |
| Current assets | 29/58 | €3,372 | €2,006 | -€1,366 | -40.5% |
| Amounts receivable within one year | 40/41 | €1,580 | €145 | -€1,435 | -90.8% |
| Other amounts receivable | 41 | €1,580 | €145 | -€1,435 | -90.8% |
| Current investments | 50/53 | - | €1,860 | +€1,860 | |
| Cash at bank and in hand | 54/58 | €1,792 | - | -€1,792 | |
| Total equity and liabilities | 10/49 | €268,975 | €240,463 | -€28,512 | -10.6% |
| Equity | 10/15 | €239,757 | €196,837 | -€42,920 | -17.9% |
| Contributions | 10/11 | €136,781 | €136,781 | = | 0.0% |
| Capital | 10 | €136,781 | €136,781 | = | 0.0% |
| Issued capital | 100 | €136,781 | €136,781 | = | 0.0% |
| Reserves | 13 | €247,593 | €232,457 | -€15,136 | -6.1% |
| Tax-exempt reserves | 132 | €247,593 | €232,457 | -€15,136 | -6.1% |
| Profit (loss) carried forward | 14 | -€144,617 | -€172,401 | -€27,784 | -19.2% |
| Amounts payable | 17/49 | €29,218 | €43,626 | +€14,409 | +49.3% |
| Amounts payable within one year | 42/48 | €29,218 | €3,009 | -€26,209 | -89.7% |
| Trade debts | 44 | €36 | - | -€36 | |
| Suppliers | 440/4 | €36 | - | -€36 | |
| Taxes, remuneration and social security | 45 | €3,009 | €3,009 | = | 0.0% |
| Taxes | 450/3 | €3,009 | €3,009 | = | 0.0% |
| Other amounts payable | 47/48 | €26,173 | - | -€26,173 | |
| Accrued charges and deferred income | 492/3 | - | €40,617 | +€40,617 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,146 | €27,146 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€15,136 | -€15,136 | = | 0.0% |
| Other operating charges | 640/8 | €2,898 | €2,321 | -€577 | -19.9% |
| Gross operating margin | 9900 | -€15,917 | -€13,369 | +€2,548 | +16.0% |
| Operating profit (loss) | 9901 | -€30,825 | -€27,700 | +€3,125 | +10.1% |
| Financial charges | 65/66B | €74 | €84 | +€10 | +13.5% |
| Recurring financial charges | 65 | €74 | €84 | +€10 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | -€30,899 | -€27,784 | +€3,115 | +10.1% |
| Profit (loss) for the period | 9904 | -€30,899 | -€27,784 | +€3,115 | +10.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,899 | -€27,784 | +€3,115 | +10.1% |
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 1 November 2026 via checked.be.