Horti-Rent: what changed
Horti-Rent
Largest movements
- Tangible fixed assets -€17,751
down €17,751 (-17.2%), from €103,273 to €85,522
of which Plant, machinery and equipment: -€21,285
- Cash -€14,421
down €14,421 (-36.7%), from €39,326 to €24,905
mainly Contributions, distributions and other (-€81,477) and Investment in fixed assets (net) (-€21,450)
- Receivables within one year -€2,967
down €2,967 (-36.7%), from €8,094 to €5,127
- Reserves -€77,705
down €77,705 (-95.4%), from €81,477 to €3,771
- Other debts +€69,255
new in 2026: €69,255
- Debts after one year -€14,797
down €14,797 (-39.1%), from €37,812 to €23,015
of which Financial debts: -€14,797
- Tax, wage and social debts -€6,933
down €6,933 (-75.5%), from €9,188 to €2,255
- Trade debts -€3,012
down €3,012 (-85.9%), from €3,508 to €496
- Gross operating margin -€24,295
down €24,295 (-34.8%), from €69,807 to €45,512
- Depreciation +€12,364
up €12,364 (+46.1%), from €26,837 to €39,201
- Taxes -€6,457
down €6,457 (-93.2%), from €6,929 to €472
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €152,139 | €117,652 | -€34,487 | -22.7% |
| Fixed assets | 21/28 | €103,273 | €85,522 | -€17,751 | -17.2% |
| Tangible fixed assets | 22/27 | €103,273 | €85,522 | -€17,751 | -17.2% |
| Plant, machinery and equipment | 23 | €50,644 | €29,359 | -€21,285 | -42.0% |
| Furniture and vehicles | 24 | €10,193 | €22,559 | +€12,366 | +121% |
| Leasing and similar rights | 25 | €42,436 | €33,604 | -€8,832 | -20.8% |
| Current assets | 29/58 | €48,866 | €32,130 | -€16,736 | -34.2% |
| Amounts receivable within one year | 40/41 | €8,094 | €5,127 | -€2,967 | -36.7% |
| Trade receivables | 40 | €8,094 | €5,127 | -€2,967 | -36.7% |
| Cash at bank and in hand | 54/58 | €39,326 | €24,905 | -€14,421 | -36.7% |
| Deferred charges and accrued income | 490/1 | €1,446 | €2,097 | +€652 | +45.1% |
| Total equity and liabilities | 10/49 | €152,139 | €117,652 | -€34,487 | -22.7% |
| Equity | 10/15 | €81,477 | €3,771 | -€77,705 | -95.4% |
| Reserves | 13 | €81,477 | €3,771 | -€77,705 | -95.4% |
| Distributable reserves | 133 | €81,477 | €3,771 | -€77,705 | -95.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €70,662 | €113,881 | +€43,218 | +61.2% |
| Amounts payable after more than one year | 17 | €37,812 | €23,015 | -€14,797 | -39.1% |
| Financial debts | 170/4 | €27,512 | €12,715 | -€14,797 | -53.8% |
| Other amounts payable | 178/9 | €10,300 | €10,300 | = | 0.0% |
| Amounts payable within one year | 42/48 | €29,089 | €86,803 | +€57,714 | +198% |
| Current portion of amounts payable after more than one year | 42 | €16,393 | €14,797 | -€1,596 | -9.7% |
| Trade debts | 44 | €3,508 | €496 | -€3,012 | -85.9% |
| Suppliers | 440/4 | €3,508 | €496 | -€3,012 | -85.9% |
| Taxes, remuneration and social security | 45 | €9,188 | €2,255 | -€6,933 | -75.5% |
| Taxes | 450/3 | €9,188 | €2,255 | -€6,933 | -75.5% |
| Other amounts payable | 47/48 | - | €69,255 | +€69,255 | |
| Accrued charges and deferred income | 492/3 | €3,761 | €4,062 | +€301 | +8.0% |
| Non-recurring operating income | 76A | €21,825 | €0 | -€21,825 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,837 | €39,201 | +€12,364 | +46.1% |
| Other operating charges | 640/8 | €181 | €795 | +€614 | +340% |
| Gross operating margin | 9900 | €69,807 | €45,512 | -€24,295 | -34.8% |
| Operating profit (loss) | 9901 | €42,788 | €5,516 | -€37,273 | -87.1% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €798 | €1,272 | +€475 | +59.5% |
| Recurring financial charges | 65 | €798 | €1,272 | +€475 | +59.5% |
| Profit (loss) for the period before taxes | 9903 | €41,991 | €4,243 | -€37,747 | -89.9% |
| Income taxes | 67/77 | €6,929 | €472 | -€6,457 | -93.2% |
| Profit (loss) for the period | 9904 | €35,061 | €3,771 | -€31,290 | -89.2% |
| Profit (loss) for the period to be appropriated | 9905 | €35,061 | €3,771 | -€31,290 | -89.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.