IR Equine: 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.
IR Equine
Largest movements
- Current investments +€30,000
up €30,000 (+60.0%), from €50,000 to €80,000
- Tangible fixed assets -€18,051
down €18,051 (-25.1%), from €71,986 to €53,935
of which Plant, machinery and equipment: -€11,272
- Cash +€11,611
up €11,611 (+32.4%), from €35,838 to €47,449
mainly Net result for the year (+€35,650) and Depreciation (+€18,051)
- Receivables within one year +€3,674
up €3,674 (+188%), from €1,954 to €5,627
of which Trade receivables: +€3,894
- Reserves +€35,650
up €35,650 (+28.2%), from €126,576 to €162,226
- Other debts -€10,002
down €10,002 (-44.7%), from €22,354 to €12,351
- Tax, wage and social debts +€3,350
up €3,350 (+78.0%), from €4,293 to €7,642
- Gross operating margin +€5,787
up €5,787 (+9.1%), from €63,709 to €69,495
- Depreciation +€5,396
up €5,396 (+42.6%), from €12,654 to €18,051
- Taxes +€1,044
up €1,044 (+8.3%), from €12,589 to €13,633
- Financial income +€894
up €894 (+21,857%), from €4 to €898
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 | €170,708 | €198,911 | +€28,203 | +16.5% |
| Fixed assets | 21/28 | €71,986 | €53,935 | -€18,051 | -25.1% |
| Tangible fixed assets | 22/27 | €71,986 | €53,935 | -€18,051 | -25.1% |
| Land and buildings | 22 | €804 | €471 | -€333 | -41.4% |
| Plant, machinery and equipment | 23 | €27,863 | €16,591 | -€11,272 | -40.5% |
| Furniture and vehicles | 24 | €4,909 | €3,239 | -€1,670 | -34.0% |
| Other tangible fixed assets | 26 | €38,411 | €33,634 | -€4,777 | -12.4% |
| Current assets | 29/58 | €98,722 | €144,975 | +€46,253 | +46.9% |
| Stocks and contracts in progress | 3 | €8,148 | €9,273 | +€1,126 | +13.8% |
| Stocks | 30/36 | €8,148 | €9,273 | +€1,126 | +13.8% |
| Amounts receivable within one year | 40/41 | €1,954 | €5,627 | +€3,674 | +188% |
| Trade receivables | 40 | €1,710 | €5,604 | +€3,894 | +228% |
| Other amounts receivable | 41 | €244 | €23 | -€220 | -90.4% |
| Current investments | 50/53 | €50,000 | €80,000 | +€30,000 | +60.0% |
| Cash at bank and in hand | 54/58 | €35,838 | €47,449 | +€11,611 | +32.4% |
| Deferred charges and accrued income | 490/1 | €2,782 | €2,626 | -€157 | -5.6% |
| Total equity and liabilities | 10/49 | €170,708 | €198,911 | +€28,203 | +16.5% |
| Equity | 10/15 | €138,976 | €174,626 | +€35,650 | +25.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €126,576 | €162,226 | +€35,650 | +28.2% |
| Distributable reserves | 133 | €126,576 | €162,226 | +€35,650 | +28.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €31,732 | €24,284 | -€7,448 | -23.5% |
| Amounts payable within one year | 42/48 | €31,732 | €24,121 | -€7,611 | -24.0% |
| Trade debts | 44 | €5,085 | €4,127 | -€958 | -18.8% |
| Suppliers | 440/4 | €5,085 | €4,127 | -€958 | -18.8% |
| Taxes, remuneration and social security | 45 | €4,293 | €7,642 | +€3,350 | +78.0% |
| Taxes | 450/3 | €4,293 | €7,642 | +€3,350 | +78.0% |
| Other amounts payable | 47/48 | €22,354 | €12,351 | -€10,002 | -44.7% |
| Accrued charges and deferred income | 492/3 | - | €163 | +€163 | |
| Remuneration, social security and pensions | 62 | - | €287 | +€287 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,654 | €18,051 | +€5,396 | +42.6% |
| Other operating charges | 640/8 | €849 | €1,059 | +€210 | +24.8% |
| Gross operating margin | 9900 | €63,709 | €69,495 | +€5,787 | +9.1% |
| Operating profit (loss) | 9901 | €50,206 | €50,099 | -€106 | -0.2% |
| Financial income | 75/76B | €4 | €898 | +€894 | +21,857% |
| Recurring financial income | 75 | €4 | €898 | +€894 | +21,857% |
| Financial charges | 65/66B | €2,252 | €1,714 | -€538 | -23.9% |
| Recurring financial charges | 65 | €2,252 | €1,714 | -€538 | -23.9% |
| Profit (loss) for the period before taxes | 9903 | €47,957 | €49,283 | +€1,326 | +2.8% |
| Income taxes | 67/77 | €12,589 | €13,633 | +€1,044 | +8.3% |
| Profit (loss) for the period | 9904 | €35,369 | €35,650 | +€281 | +0.8% |
| Profit (loss) for the period to be appropriated | 9905 | €35,369 | €35,650 | +€281 | +0.8% |
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 16 October 2026 via checked.be.