LAZY HORSES: what changed
LAZY HORSES
Largest movements
- Receivables within one year -€3,796
down €3,796 (-42.7%), from €8,893 to €5,097
of which Trade receivables: -€4,601
- Cash +€1,105
up €1,105 (+8,981%), from €12 to €1,117
mainly Contributions, distributions and other (+€12,400) and Receivables within one year (+€3,796)
- Tangible fixed assets -€330
down €330 (-64.4%), from €512 to €182
- Contributions +€12,400
up €12,400 (+200%), from €6,200 to €18,600
- Other debts -€9,142
down €9,142 (-23.4%), from €39,081 to €29,938
- Profit (loss) carried forward -€5,972
down €5,972 (-15.6%), from -€38,279 to -€44,252
- Accrued charges and deferred income -€387
down €387 (-100%), from €387 to €0
- Gross operating margin -€1,655
down €1,655 (-6,062%), from -€27 to -€1,683
- Depreciation -€710
down €710 (-68.3%), from €1,040 to €330
- Other operating charges +€65
up €65 (+13.0%), from €497 to €562
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,418 | €6,396 | -€3,022 | -32.1% |
| Fixed assets | 21/28 | €512 | €182 | -€330 | -64.4% |
| Tangible fixed assets | 22/27 | €512 | €182 | -€330 | -64.4% |
| Plant, machinery and equipment | 23 | €512 | €182 | -€330 | -64.4% |
| Current assets | 29/58 | €8,905 | €6,214 | -€2,692 | -30.2% |
| Amounts receivable within one year | 40/41 | €8,893 | €5,097 | -€3,796 | -42.7% |
| Trade receivables | 40 | €4,601 | €0 | -€4,601 | -100% |
| Other amounts receivable | 41 | €4,292 | €5,097 | +€805 | +18.8% |
| Cash at bank and in hand | 54/58 | €12 | €1,117 | +€1,105 | +8,981% |
| Total equity and liabilities | 10/49 | €9,418 | €6,396 | -€3,022 | -32.1% |
| Equity | 10/15 | -€30,219 | -€23,792 | +€6,428 | +21.3% |
| Contributions | 10/11 | €6,200 | €18,600 | +€12,400 | +200% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,279 | -€44,252 | -€5,972 | -15.6% |
| Amounts payable | 17/49 | €39,637 | €30,188 | -€9,449 | -23.8% |
| Amounts payable within one year | 42/48 | €39,250 | €30,188 | -€9,062 | -23.1% |
| Trade debts | 44 | €169 | €249 | +€80 | +47.7% |
| Suppliers | 440/4 | €169 | €249 | +€80 | +47.7% |
| Other amounts payable | 47/48 | €39,081 | €29,938 | -€9,142 | -23.4% |
| Accrued charges and deferred income | 492/3 | €387 | €0 | -€387 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,040 | €330 | -€710 | -68.3% |
| Other operating charges | 640/8 | €497 | €562 | +€65 | +13.0% |
| Non-recurring operating charges | 66A | - | €3,205 | +€3,205 | |
| Gross operating margin | 9900 | -€27 | -€1,683 | -€1,655 | -6,062% |
| Operating profit (loss) | 9901 | -€1,564 | -€5,780 | -€4,215 | -269% |
| Financial income | 75/76B | - | €10 | +€10 | |
| Recurring financial income | 75 | - | €10 | +€10 | |
| Financial charges | 65/66B | €186 | €202 | +€16 | +8.8% |
| Recurring financial charges | 65 | €186 | €202 | +€16 | +8.8% |
| Profit (loss) for the period before taxes | 9903 | -€1,750 | -€5,972 | -€4,222 | -241% |
| Profit (loss) for the period | 9904 | -€1,750 | -€5,972 | -€4,222 | -241% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,750 | -€5,972 | -€4,222 | -241% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.