HOUSENHORSES: what changed
Two fiscal 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.
HOUSENHORSES
Largest movements
- Stocks and contracts +€39,790
up €39,790 (+146.8%), from €27,110 to €66,900
- Cash -€6,294
down €6,294 (-7.3%), from €86,190 to €79,896
mainly Stocks and contracts (-€39,790) and Net result for the year (-€12,398)
- Trade debts +€49,700
up €49,700 (+1026.8%), from €4,841 to €54,541
- Profit (loss) carried forward -€12,398
down €12,398 (-63.7%), from -€19,458 to -€31,856
- Other debts -€3,512
down €3,512 (-5.6%), from €62,635 to €59,124
- Gross operating margin +€4,338
up €4,338 (+26.8%), from -€16,163 to -€11,826
- Staff costs -€1,570
no longer reported in 2025 (was €1,570)
- Financial charges -€898
down €898 (-33.2%), from €2,707 to €1,810
- Financial income +€245
up €245 (+15.2%), from €1,615 to €1,861
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.
Cash bridge derived
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 | €250,227 | €284,017 | +€33,790 | +13.5% |
| Formation expenses | 20 | €306 | €85 | -€221 | -72.3% |
| Fixed assets | 21/28 | €1,199 | €859 | -€340 | -28.4% |
| Tangible fixed assets | 22/27 | €1,199 | €859 | -€340 | -28.4% |
| Plant, machinery and equipment | 23 | €428 | €253 | -€175 | -40.9% |
| Furniture and vehicles | 24 | €771 | €606 | -€165 | -21.4% |
| Current assets | 29/58 | €248,722 | €283,074 | +€34,352 | +13.8% |
| Stocks and contracts in progress | 3 | €27,110 | €66,900 | +€39,790 | +146.8% |
| Stocks | 30/36 | €27,110 | €66,900 | +€39,790 | +146.8% |
| Amounts receivable within one year | 40/41 | €131,273 | €132,314 | +€1,041 | +0.8% |
| Trade receivables | 40 | €62,172 | €54,171 | -€8,001 | -12.9% |
| Other amounts receivable | 41 | €69,101 | €78,143 | +€9,042 | +13.1% |
| Cash at bank and in hand | 54/58 | €86,190 | €79,896 | -€6,294 | -7.3% |
| Deferred charges and accrued income | 490/1 | €4,148 | €3,963 | -€185 | -4.5% |
| Total equity and liabilities | 10/49 | €250,227 | €284,017 | +€33,790 | +13.5% |
| Equity | 10/15 | €179,351 | €166,953 | -€12,398 | -6.9% |
| Contributions | 10/11 | €46,000 | €46,000 | = | 0.0% |
| Reserves | 13 | €152,809 | €152,809 | = | 0.0% |
| Distributable reserves | 133 | €152,809 | €152,809 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,458 | -€31,856 | -€12,398 | -63.7% |
| Amounts payable | 17/49 | €70,876 | €117,064 | +€46,188 | +65.2% |
| Amounts payable within one year | 42/48 | €67,476 | €113,664 | +€46,188 | +68.5% |
| Trade debts | 44 | €4,841 | €54,541 | +€49,700 | +1026.8% |
| Suppliers | 440/4 | €4,841 | €54,541 | +€49,700 | +1026.8% |
| Other amounts payable | 47/48 | €62,635 | €59,124 | -€3,512 | -5.6% |
| Accrued charges and deferred income | 492/3 | €3,400 | €3,400 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €1,570 | - | -€1,570 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €633 | €562 | -€71 | -11.3% |
| Other operating charges | 640/8 | - | €62 | +€62 | |
| Gross operating margin | 9900 | -€16,163 | -€11,826 | +€4,338 | +26.8% |
| Operating profit (loss) | 9901 | -€18,366 | -€12,449 | +€5,917 | +32.2% |
| Financial income | 75/76B | €1,615 | €1,861 | +€245 | +15.2% |
| Recurring financial income | 75 | €1,615 | €1,861 | +€245 | +15.2% |
| Financial charges | 65/66B | €2,707 | €1,810 | -€898 | -33.2% |
| Recurring financial charges | 65 | €2,707 | €1,810 | -€898 | -33.2% |
| Profit (loss) for the period before taxes | 9903 | -€19,458 | -€12,398 | +€7,060 | +36.3% |
| Profit (loss) for the period | 9904 | -€19,458 | -€12,398 | +€7,060 | +36.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,458 | -€12,398 | +€7,060 | +36.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.