LINEA HORTUS: 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.
LINEA HORTUS
Largest movements
- Tangible fixed assets -€83,600
down €83,600 (-44.1%), from €189,671 to €106,071
of which Plant, machinery and equipment: -€53,408
- Receivables after one year +€26,317
up €26,317 (+4.5%), from €584,814 to €611,131
- Receivables within one year -€24,003
down €24,003 (-11.1%), from €216,896 to €192,893
of which Trade receivables: -€23,784
- Deferred charges and accrued income -€10,538
down €10,538 (-27.7%), from €38,008 to €27,470
- Profit (loss) carried forward -€79,011
down €79,011 (-128%), from -€61,645 to -€140,657
- Debts after one year +€23,578
up €23,578 (+4.1%), from €570,829 to €594,408
of which Other amounts payable: +€135,000
- Current portion of long-term debt -€17,776
down €17,776 (-13.8%), from €128,730 to €110,953
- Reserves -€13,033
down €13,033 (-4.0%), from €324,536 to €311,503
of which Distributable reserves: -€13,033
- Accrued charges and deferred income -€13,021
down €13,021 (-92.7%), from €14,044 to €1,023
- Staff costs -€28,410
down €28,410 (-52.4%), from €54,253 to €25,843
- Depreciation -€21,544
down €21,544 (-27.8%), from €77,463 to €55,919
- Financial charges -€10,577
down €10,577 (-46.6%), from €22,716 to €12,139
- Gross operating margin -€8,501
down €8,501 (-62.5%), from €13,606 to €5,105
- Financial income +€969
up €969 (+6.9%), from €14,110 to €15,079
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 | €1,049,093 | €953,895 | -€95,198 | -9.1% |
| Fixed assets | 21/28 | €189,935 | €106,335 | -€83,600 | -44.0% |
| Tangible fixed assets | 22/27 | €189,671 | €106,071 | -€83,600 | -44.1% |
| Plant, machinery and equipment | 23 | €93,631 | €40,223 | -€53,408 | -57.0% |
| Furniture and vehicles | 24 | €86,213 | €59,890 | -€26,324 | -30.5% |
| Leasing and similar rights | 25 | €1,680 | €0 | -€1,680 | -100% |
| Other tangible fixed assets | 26 | €8,147 | €5,958 | -€2,189 | -26.9% |
| Financial fixed assets | 28 | €264 | €264 | = | 0.0% |
| Current assets | 29/58 | €859,158 | €847,559 | -€11,599 | -1.4% |
| Amounts receivable after more than one year | 29 | €584,814 | €611,131 | +€26,317 | +4.5% |
| Other amounts receivable | 291 | €584,814 | €611,131 | +€26,317 | +4.5% |
| Stocks and contracts in progress | 3 | €5,000 | €5,000 | = | 0.0% |
| Stocks | 30/36 | €5,000 | €5,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €216,896 | €192,893 | -€24,003 | -11.1% |
| Trade receivables | 40 | €216,677 | €192,893 | -€23,784 | -11.0% |
| Other amounts receivable | 41 | €219 | €0 | -€219 | -100% |
| Cash at bank and in hand | 54/58 | €14,440 | €11,066 | -€3,374 | -23.4% |
| Deferred charges and accrued income | 490/1 | €38,008 | €27,470 | -€10,538 | -27.7% |
| Total equity and liabilities | 10/49 | €1,049,093 | €953,895 | -€95,198 | -9.1% |
| Equity | 10/15 | €281,491 | €189,446 | -€92,044 | -32.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €324,536 | €311,503 | -€13,033 | -4.0% |
| Tax-exempt reserves | 132 | €1,734 | €1,734 | = | 0.0% |
| Distributable reserves | 133 | €322,802 | €309,769 | -€13,033 | -4.0% |
| Profit (loss) carried forward | 14 | -€61,645 | -€140,657 | -€79,011 | -128% |
| Amounts payable | 17/49 | €767,603 | €764,449 | -€3,154 | -0.4% |
| Amounts payable after more than one year | 17 | €570,829 | €594,408 | +€23,578 | +4.1% |
| Financial debts | 170/4 | €259,829 | €148,408 | -€111,422 | -42.9% |
| Other amounts payable | 178/9 | €311,000 | €446,000 | +€135,000 | +43.4% |
| Amounts payable within one year | 42/48 | €182,729 | €169,018 | -€13,711 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | €128,730 | €110,953 | -€17,776 | -13.8% |
| Trade debts | 44 | €30,636 | €25,221 | -€5,414 | -17.7% |
| Suppliers | 440/4 | €30,636 | €25,221 | -€5,414 | -17.7% |
| Taxes, remuneration and social security | 45 | €17,838 | €14,502 | -€3,336 | -18.7% |
| Taxes | 450/3 | €11,829 | €9,486 | -€2,343 | -19.8% |
| Remuneration and social security | 454/9 | €6,010 | €5,017 | -€993 | -16.5% |
| Other amounts payable | 47/48 | €5,525 | €18,341 | +€12,816 | +232% |
| Accrued charges and deferred income | 492/3 | €14,044 | €1,023 | -€13,021 | -92.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €54,253 | €25,843 | -€28,410 | -52.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,463 | €55,919 | -€21,544 | -27.8% |
| Other operating charges | 640/8 | €5,702 | €4,845 | -€858 | -15.0% |
| Gross operating margin | 9900 | €13,606 | €5,105 | -€8,501 | -62.5% |
| Operating profit (loss) | 9901 | -€123,812 | -€81,502 | +€42,311 | +34.2% |
| Financial income | 75/76B | €14,110 | €15,079 | +€969 | +6.9% |
| Recurring financial income | 75 | €14,110 | €15,079 | +€969 | +6.9% |
| Financial charges | 65/66B | €22,716 | €12,139 | -€10,577 | -46.6% |
| Recurring financial charges | 65 | €22,716 | €12,139 | -€10,577 | -46.6% |
| Profit (loss) for the period before taxes | 9903 | -€132,418 | -€78,561 | +€53,857 | +40.7% |
| Income taxes | 67/77 | €499 | €450 | -€49 | -9.8% |
| Profit (loss) for the period | 9904 | -€132,917 | -€79,011 | +€53,906 | +40.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€132,917 | -€79,011 | +€53,906 | +40.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.