HORTICOTRADE: 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.
What changed
HORTICOTRADE
NACE 01.130, Growing of vegetables, melons, roots and tubers
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€18,144
2024 · -€6,720+€24,864
Equity
€921,462
2024 · €903,318+€18,144
Cash
€60,407
2024 · €59,252+€1,155
Balance sheet total
€5.2m
2024 · €3.0m+€2.2m
Largest movements
Assets
- Tangible fixed assets +€2.0m
up €2.0m (+77.8%), from €2.6m to €4.6m
of which Land and buildings: +€2.0m
- Receivables within one year +€164,574
up €164,574 (+49.1%), from €335,021 to €499,594
of which Trade receivables: +€148,473
Equity and liabilities
- Other debts +€2.2m
up €2.2m (+936%), from €231,877 to €2.4m
- Debts after one year -€106,704
down €106,704 (-7.1%), from €1.5m to €1.4m
- Trade debts +€51,860
up €51,860 (+23.8%), from €218,163 to €270,023
Income statement
- Gross operating margin +€109,112
up €109,112 (+52.8%), from €206,633 to €315,745
- Depreciation +€59,391
up €59,391 (+87.5%), from €67,867 to €127,258
- Financial charges +€19,195
up €19,195 (+34.2%), from €56,099 to €75,295
- Staff costs +€3,843
up €3,843 (+9.3%), from €41,397 to €45,240
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.
Result 2024
-€6,720
Gross operating margin
+€109,112
Staff costs
-€3,843
Depreciation
-€59,391
Other operating charges
-€1,570
Financial income
+€418
Financial charges
-€19,195
Taxes
-€667
Result 2025
€18,144
raises the resultlowers the result
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.
From operations
+€2.2m
Investment
-€2.1m
Financing
-€90,776
Cash 2024
€59,252
From operations (derived)
+€2.2m
Net result for the year
+€18,144
Depreciation
+€127,258
Receivables within one year
-€164,574
Deferred charges and accrued income
-€498
Trade debts
+€51,860
Tax, wage and social debts
+€32,851
Other debts
+€2.2m
Investment (derived)
-€2.1m
Investment in fixed assets (net)
-€2.1m
Financing
-€90,776
Debts after one year
-€106,704
Current portion of long-term debt
+€8,892
Short-term financial debts
+€7,036
Cash 2025
€60,407
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,003,016 | €5,185,630 | +€2.2m | +72.7% |
| Fixed assets | 21/28 | €2,604,699 | €4,621,086 | +€2.0m | +77.4% |
| Tangible fixed assets | 22/27 | €2,591,952 | €4,608,339 | +€2.0m | +77.8% |
| Land and buildings | 22 | €2,570,164 | €4,597,787 | +€2.0m | +78.9% |
| Plant, machinery and equipment | 23 | €19,471 | €10,552 | -€8,919 | -45.8% |
| Furniture and vehicles | 24 | €2,317 | - | -€2,317 | |
| Financial fixed assets | 28 | €12,747 | €12,747 | = | 0.0% |
| Current assets | 29/58 | €398,317 | €564,544 | +€166,227 | +41.7% |
| Amounts receivable within one year | 40/41 | €335,021 | €499,594 | +€164,574 | +49.1% |
| Trade receivables | 40 | €311,302 | €459,775 | +€148,473 | +47.7% |
| Other amounts receivable | 41 | €23,719 | €39,819 | +€16,100 | +67.9% |
| Current investments | 50/53 | €3,582 | €3,582 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €59,252 | €60,407 | +€1,155 | +1.9% |
| Deferred charges and accrued income | 490/1 | €462 | €960 | +€498 | +108% |
| Total equity and liabilities | 10/49 | €3,003,016 | €5,185,630 | +€2.2m | +72.7% |
| Equity | 10/15 | €903,318 | €921,462 | +€18,144 | +2.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €848,038 | €859,462 | +€11,424 | +1.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €841,838 | €853,262 | +€11,424 | +1.4% |
| Profit (loss) carried forward | 14 | -€6,720 | - | +€6,720 | |
| Amounts payable | 17/49 | €2,099,698 | €4,264,168 | +€2.2m | +103% |
| Amounts payable after more than one year | 17 | €1,502,688 | €1,395,984 | -€106,704 | -7.1% |
| Financial debts | 170/4 | €1,502,688 | €1,395,984 | -€106,704 | -7.1% |
| Amounts payable within one year | 42/48 | €597,010 | €2,868,184 | +€2.3m | +380% |
| Current portion of amounts payable after more than one year | 42 | €97,812 | €106,704 | +€8,892 | +9.1% |
| Financial debts | 43 | - | €7,036 | +€7,036 | |
| Credit institutions | 430/8 | - | €7,036 | +€7,036 | |
| Trade debts | 44 | €218,163 | €270,023 | +€51,860 | +23.8% |
| Suppliers | 440/4 | €218,163 | €270,023 | +€51,860 | +23.8% |
| Taxes, remuneration and social security | 45 | €49,157 | €82,008 | +€32,851 | +66.8% |
| Taxes | 450/3 | €46,198 | €78,291 | +€32,093 | +69.5% |
| Remuneration and social security | 454/9 | €2,959 | €3,717 | +€758 | +25.6% |
| Other amounts payable | 47/48 | €231,877 | €2,402,414 | +€2.2m | +936% |
| Remuneration, social security and pensions | 62 | €41,397 | €45,240 | +€3,843 | +9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,867 | €127,258 | +€59,391 | +87.5% |
| Other operating charges | 640/8 | €48,971 | €50,541 | +€1,570 | +3.2% |
| Gross operating margin | 9900 | €206,633 | €315,745 | +€109,112 | +52.8% |
| Operating profit (loss) | 9901 | €48,398 | €92,706 | +€44,308 | +91.5% |
| Financial income | 75/76B | €981 | €1,400 | +€418 | +42.6% |
| Recurring financial income | 75 | €981 | €1,400 | +€418 | +42.6% |
| Financial charges | 65/66B | €56,099 | €75,295 | +€19,195 | +34.2% |
| Recurring financial charges | 65 | €56,099 | €75,295 | +€19,195 | +34.2% |
| Profit (loss) for the period before taxes | 9903 | -€6,720 | €18,810 | +€25,531 | |
| Income taxes | 67/77 | €0 | €667 | +€667 | +555,425% |
| Profit (loss) for the period | 9904 | -€6,720 | €18,144 | +€24,864 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,720 | €18,144 | +€24,864 |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.