Laerhof Horses: 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.
Laerhof Horses
Largest movements
- Stocks and contracts +€35,500
up €35,500 (+17.1%), from €207,000 to €242,500
- Tangible fixed assets -€7,128
down €7,128 (-79.7%), from €8,942 to €1,814
of which Land and buildings: -€6,776
- Deferred charges and accrued income +€4,651
up €4,651 (+12,402%), from €38 to €4,688
- Receivables within one year +€3,960
up €3,960 (+26.1%), from €15,159 to €19,119
of which Trade receivables: +€4,080
- Other debts +€29,226
up €29,226 (+15.4%), from €189,285 to €218,511
- Trade debts +€3,587
up €3,587 (+34.5%), from €10,388 to €13,974
- Reserves +€3,527
up €3,527 (+29.6%), from €11,909 to €15,436
of which Distributable reserves: +€3,527
- Gross operating margin +€4,970
up €4,970 (+60.2%), from €8,258 to €13,228
- Taxes +€1,065
up €1,065 (+10,653,700%), from €0 to €1,065
- Other operating charges -€304
down €304 (-24.5%), from €1,239 to €935
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 | €232,183 | €269,588 | +€37,405 | +16.1% |
| Fixed assets | 21/28 | €8,942 | €1,814 | -€7,128 | -79.7% |
| Tangible fixed assets | 22/27 | €8,942 | €1,814 | -€7,128 | -79.7% |
| Land and buildings | 22 | €7,706 | €930 | -€6,776 | -87.9% |
| Furniture and vehicles | 24 | €1,236 | €884 | -€352 | -28.5% |
| Current assets | 29/58 | €223,241 | €267,774 | +€44,533 | +19.9% |
| Stocks and contracts in progress | 3 | €207,000 | €242,500 | +€35,500 | +17.1% |
| Stocks | 30/36 | €207,000 | €242,500 | +€35,500 | +17.1% |
| Amounts receivable within one year | 40/41 | €15,159 | €19,119 | +€3,960 | +26.1% |
| Trade receivables | 40 | €15,000 | €19,080 | +€4,080 | +27.2% |
| Other amounts receivable | 41 | €159 | €39 | -€120 | -75.6% |
| Cash at bank and in hand | 54/58 | €1,044 | €1,467 | +€422 | +40.4% |
| Deferred charges and accrued income | 490/1 | €38 | €4,688 | +€4,651 | +12,402% |
| Total equity and liabilities | 10/49 | €232,183 | €269,588 | +€37,405 | +16.1% |
| Equity | 10/15 | €31,909 | €35,436 | +€3,527 | +11.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €11,909 | €15,436 | +€3,527 | +29.6% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €9,909 | €13,436 | +€3,527 | +35.6% |
| Amounts payable | 17/49 | €200,274 | €234,152 | +€33,878 | +16.9% |
| Amounts payable within one year | 42/48 | €200,274 | €234,152 | +€33,878 | +16.9% |
| Trade debts | 44 | €10,388 | €13,974 | +€3,587 | +34.5% |
| Suppliers | 440/4 | €10,388 | €13,974 | +€3,587 | +34.5% |
| Taxes, remuneration and social security | 45 | €601 | €1,666 | +€1,065 | +177% |
| Taxes | 450/3 | €601 | €1,666 | +€1,065 | +177% |
| Other amounts payable | 47/48 | €189,285 | €218,511 | +€29,226 | +15.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,128 | €7,128 | +€0 | 0.0% |
| Other operating charges | 640/8 | €1,239 | €935 | -€304 | -24.5% |
| Gross operating margin | 9900 | €8,258 | €13,228 | +€4,970 | +60.2% |
| Operating profit (loss) | 9901 | -€109 | €5,164 | +€5,273 | |
| Financial income | 75/76B | €40 | €99 | +€58 | +146% |
| Recurring financial income | 75 | €40 | €99 | +€58 | +146% |
| Financial charges | 65/66B | €717 | €670 | -€47 | -6.6% |
| Recurring financial charges | 65 | €717 | €670 | -€47 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | -€786 | €4,592 | +€5,379 | |
| Income taxes | 67/77 | €0 | €1,065 | +€1,065 | +10,653,700% |
| Profit (loss) for the period | 9904 | -€787 | €3,527 | +€4,314 | |
| Profit (loss) for the period to be appropriated | 9905 | -€787 | €3,527 | +€4,314 |
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 13 October 2026 via checked.be.