IMMO HORST: 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.
IMMO HORST
Largest movements
- Deferred charges and accrued income -€37,851
down €37,851 (-99.1%), from €38,181 to €330
- Receivables within one year +€25,846
up €25,846 (+2052.7%), from €1,259 to €27,105
of which Trade receivables: +€26,361
- Tangible fixed assets -€10,572
down €10,572 (-3.2%), from €328,707 to €318,135
- Profit (loss) carried forward +€39,035
up €39,035 (+13.9%), from -€279,860 to -€240,825
- Other debts -€31,448
down €31,448 (-9.9%), from €317,807 to €286,360
- Debts after one year -€26,537
down €26,537 (-11.1%), from €239,892 to €213,355
- Trade debts -€4,365
down €4,365 (-56.7%), from €7,703 to €3,338
- Gross operating margin +€37,781
up €37,781 (+48.9%), from €77,283 to €115,064
- Staff costs +€12,806
up €12,806 (+30.3%), from €42,233 to €55,039
- Financial income +€3,531
up €3,531 (+2369.0%), from €149 to €3,680
of which Non-recurring financial income: +€3,471
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 | €376,265 | €352,252 | -€24,014 | -6.4% |
| Fixed assets | 21/28 | €328,857 | €318,285 | -€10,572 | -3.2% |
| Tangible fixed assets | 22/27 | €328,707 | €318,135 | -€10,572 | -3.2% |
| Land and buildings | 22 | €328,707 | €318,135 | -€10,572 | -3.2% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €47,409 | €33,967 | -€13,441 | -28.4% |
| Stocks and contracts in progress | 3 | €1,313 | €1,313 | = | 0.0% |
| Stocks | 30/36 | €1,313 | €1,313 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,259 | €27,105 | +€25,846 | +2052.7% |
| Trade receivables | 40 | €744 | €27,105 | +€26,361 | +3544.2% |
| Other amounts receivable | 41 | €515 | - | -€515 | |
| Cash at bank and in hand | 54/58 | €6,656 | €5,219 | -€1,437 | -21.6% |
| Deferred charges and accrued income | 490/1 | €38,181 | €330 | -€37,851 | -99.1% |
| Total equity and liabilities | 10/49 | €376,265 | €352,252 | -€24,014 | -6.4% |
| Equity | 10/15 | -€235,896 | -€196,861 | +€39,035 | +16.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €23,964 | €23,964 | = | 0.0% |
| Distributable reserves | 133 | €23,964 | €23,964 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€279,860 | -€240,825 | +€39,035 | +13.9% |
| Amounts payable | 17/49 | €612,162 | €549,113 | -€63,049 | -10.3% |
| Amounts payable after more than one year | 17 | €239,892 | €213,355 | -€26,537 | -11.1% |
| Financial debts | 170/4 | €239,892 | €213,355 | -€26,537 | -11.1% |
| Amounts payable within one year | 42/48 | €364,044 | €330,419 | -€33,626 | -9.2% |
| Current portion of amounts payable after more than one year | 42 | €25,936 | €26,537 | +€601 | +2.3% |
| Trade debts | 44 | €7,703 | €3,338 | -€4,365 | -56.7% |
| Suppliers | 440/4 | €7,703 | €3,338 | -€4,365 | -56.7% |
| Taxes, remuneration and social security | 45 | €12,598 | €14,184 | +€1,586 | +12.6% |
| Taxes | 450/3 | €110 | €5,530 | +€5,420 | +4917.1% |
| Remuneration and social security | 454/9 | €12,488 | €8,654 | -€3,833 | -30.7% |
| Other amounts payable | 47/48 | €317,807 | €286,360 | -€31,448 | -9.9% |
| Accrued charges and deferred income | 492/3 | €8,226 | €5,339 | -€2,887 | -35.1% |
| Remuneration, social security and pensions | 62 | €42,233 | €55,039 | +€12,806 | +30.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,572 | €10,572 | = | 0.0% |
| Other operating charges | 640/8 | €4,874 | €4,604 | -€270 | -5.5% |
| Non-recurring operating charges | 66A | €5,268 | - | -€5,268 | |
| Gross operating margin | 9900 | €77,283 | €115,064 | +€37,781 | +48.9% |
| Operating profit (loss) | 9901 | €14,335 | €44,849 | +€30,513 | +212.9% |
| Financial income | 75/76B | €149 | €3,680 | +€3,531 | +2369.0% |
| Recurring financial income | 75 | €149 | €60 | -€89 | -59.8% |
| Non-recurring financial income | 76B | €149 | €3,620 | +€3,471 | +2328.8% |
| Financial charges | 65/66B | €10,182 | €9,494 | -€688 | -6.8% |
| Recurring financial charges | 65 | €10,182 | €9,494 | -€688 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €4,303 | €39,035 | +€34,733 | +807.2% |
| Profit (loss) for the period | 9904 | €4,303 | €39,035 | +€34,733 | +807.2% |
| Profit (loss) for the period to be appropriated | 9905 | €4,303 | €39,035 | +€34,733 | +807.2% |
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 11 October 2026 via checked.be.