HORTIPOORT: 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.
HORTIPOORT
Largest movements
- Receivables within one year -€76,887
down €76,887 (-32.2%), from €238,458 to €161,570
of which Trade receivables: -€62,292
- Cash +€70,667
up €70,667 (+45.2%), from €156,181 to €226,848
mainly Receivables within one year (+€76,887) and Net result for the year (+€75,812)
- Tangible fixed assets +€20,029
up €20,029 (+21.3%), from €93,912 to €113,942
of which Leasing and similar rights: +€24,687
- Stocks and contracts +€15,127
up €15,127 (+19.7%), from €76,925 to €92,052
- Reserves +€56,957
up €56,957 (+18.0%), from €316,559 to €373,515
- Trade debts +€40,542
up €40,542 (+51.3%), from €78,975 to €119,518
- Tax, wage and social debts -€39,421
down €39,421 (-44.4%), from €88,774 to €49,354
of which Taxes: -€44,272
- Other debts -€36,879
down €36,879 (-100%), from €36,879 to €0
- Staff costs +€30,430
up €30,430 (+10.9%), from €278,969 to €309,399
- Taxes -€9,829
down €9,829 (-19.9%), from €49,365 to €39,536
- Gross operating margin +€9,785
up €9,785 (+2.0%), from €477,855 to €487,640
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 | €698,693 | €730,229 | +€31,536 | +4.5% |
| Fixed assets | 21/28 | €104,749 | €123,355 | +€18,606 | +17.8% |
| Intangible fixed assets | 21 | €7,872 | €6,523 | -€1,349 | -17.1% |
| Tangible fixed assets | 22/27 | €93,912 | €113,942 | +€20,029 | +21.3% |
| Plant, machinery and equipment | 23 | €51,274 | €40,136 | -€11,139 | -21.7% |
| Furniture and vehicles | 24 | €18,071 | €25,219 | +€7,148 | +39.6% |
| Leasing and similar rights | 25 | €18,696 | €43,383 | +€24,687 | +132% |
| Other tangible fixed assets | 26 | €5,870 | €5,204 | -€667 | -11.4% |
| Financial fixed assets | 28 | €2,965 | €2,890 | -€75 | -2.5% |
| Current assets | 29/58 | €593,944 | €606,874 | +€12,930 | +2.2% |
| Amounts receivable after more than one year | 29 | €115,100 | €115,100 | = | 0.0% |
| Other amounts receivable | 291 | €115,100 | €115,100 | = | 0.0% |
| Stocks and contracts in progress | 3 | €76,925 | €92,052 | +€15,127 | +19.7% |
| Stocks | 30/36 | €76,925 | €92,052 | +€15,127 | +19.7% |
| Amounts receivable within one year | 40/41 | €238,458 | €161,570 | -€76,887 | -32.2% |
| Trade receivables | 40 | €198,742 | €136,449 | -€62,292 | -31.3% |
| Other amounts receivable | 41 | €39,716 | €25,121 | -€14,595 | -36.7% |
| Cash at bank and in hand | 54/58 | €156,181 | €226,848 | +€70,667 | +45.2% |
| Deferred charges and accrued income | 490/1 | €7,280 | €11,304 | +€4,024 | +55.3% |
| Total equity and liabilities | 10/49 | €698,693 | €730,229 | +€31,536 | +4.5% |
| Equity | 10/15 | €385,159 | €442,115 | +€56,957 | +14.8% |
| Contributions | 10/11 | €68,600 | €68,600 | = | 0.0% |
| Reserves | 13 | €316,559 | €373,515 | +€56,957 | +18.0% |
| Distributable reserves | 133 | €316,559 | €373,515 | +€56,957 | +18.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €313,535 | €288,114 | -€25,420 | -8.1% |
| Amounts payable after more than one year | 17 | €79,879 | €85,832 | +€5,953 | +7.5% |
| Financial debts | 170/4 | €79,879 | €85,832 | +€5,953 | +7.5% |
| Amounts payable within one year | 42/48 | €233,379 | €201,242 | -€32,137 | -13.8% |
| Current portion of amounts payable after more than one year | 42 | €27,439 | €32,371 | +€4,931 | +18.0% |
| Trade debts | 44 | €78,975 | €119,518 | +€40,542 | +51.3% |
| Suppliers | 440/4 | €78,975 | €119,518 | +€40,542 | +51.3% |
| Advances received on contracts in progress | 46 | €1,311 | €0 | -€1,311 | -100% |
| Taxes, remuneration and social security | 45 | €88,774 | €49,354 | -€39,421 | -44.4% |
| Taxes | 450/3 | €68,711 | €24,440 | -€44,272 | -64.4% |
| Remuneration and social security | 454/9 | €20,063 | €24,914 | +€4,851 | +24.2% |
| Other amounts payable | 47/48 | €36,879 | €0 | -€36,879 | -100% |
| Accrued charges and deferred income | 492/3 | €276 | €1,040 | +€764 | +276% |
| Non-recurring operating income | 76A | €19,209 | €420 | -€18,789 | -97.8% |
| Remuneration, social security and pensions | 62 | €278,969 | €309,399 | +€30,430 | +10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,678 | €58,607 | +€2,930 | +5.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €1,027 | +€1,027 | |
| Other operating charges | 640/8 | €3,316 | €3,635 | +€319 | +9.6% |
| Non-recurring operating charges | 66A | €306 | €0 | -€306 | -100% |
| Gross operating margin | 9900 | €477,855 | €487,640 | +€9,785 | +2.0% |
| Operating profit (loss) | 9901 | €139,587 | €114,973 | -€24,615 | -17.6% |
| Financial income | 75/76B | €4,426 | €5,858 | +€1,432 | +32.3% |
| Recurring financial income | 75 | €4,426 | €5,858 | +€1,432 | +32.3% |
| Financial charges | 65/66B | €4,850 | €5,482 | +€632 | +13.0% |
| Recurring financial charges | 65 | €4,850 | €5,482 | +€632 | +13.0% |
| Profit (loss) for the period before taxes | 9903 | €139,163 | €115,348 | -€23,815 | -17.1% |
| Income taxes | 67/77 | €49,365 | €39,536 | -€9,829 | -19.9% |
| Profit (loss) for the period | 9904 | €89,798 | €75,812 | -€13,986 | -15.6% |
| Profit (loss) for the period to be appropriated | 9905 | €89,798 | €75,812 | -€13,986 | -15.6% |
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 27 October 2026 via checked.be.