LM Horizon: what changed
What changed
LM Horizon
NACE 96.210, Hairdressing and barber services
filed annual accounts (NBB)
Net result for the year
-€3,088
2024 · -€26,943+€23,855
Equity
-€171,555
2024 · -€167,508-€4,047
Cash
€4,562
2024 · €4,405+€157
Balance sheet total
€164,434
2024 · €198,274-€33,840
Largest movements
Assets
- Tangible fixed assets -€31,186
down €31,186 (-18.9%), from €165,368 to €134,183
of which Other tangible fixed assets: -€21,551
- Intangible fixed assets -€9,769
down €9,769 (-37.2%), from €26,275 to €16,506
- Deferred charges and accrued income +€7,703
up €7,703 (+579%), from €1,331 to €9,034
Equity and liabilities
- Other debts -€11,238
down €11,238 (-4.2%), from €266,561 to €255,323
- Current portion of long-term debt -€6,457
down €6,457 (-60.4%), from €10,692 to €4,234
- Tax, wage and social debts -€4,478
down €4,478 (-9.3%), from €48,029 to €43,551
of which Remuneration and social security: -€4,716
- Debts after one year -€4,234
down €4,234 (-56.4%), from €7,503 to €3,268
- Trade debts -€3,386
down €3,386 (-10.3%), from €32,998 to €29,612
Income statement
- Staff costs -€20,865
down €20,865 (-15.4%), from €135,669 to €114,804
- Gross operating margin +€3,676
up €3,676 (+2.3%), from €157,122 to €160,798
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€26,943
Gross operating margin
+€3,676
Staff costs
+€20,865
Depreciation
+€235
Other operating charges
-€137
Financial income
-€642
Financial charges
-€140
Taxes
-€2
Result 2025
-€3,088
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€11,808
Investment
€0
Financing
-€11,650
Cash 2024
€4,405
From operations (derived)
+€11,808
Net result for the year
-€3,088
Depreciation
+€40,954
Receivables within one year
+€746
Deferred charges and accrued income
-€7,703
Trade debts
-€3,386
Tax, wage and social debts
-€4,478
Other debts
-€11,238
Financing
-€11,650
Debts after one year
-€4,234
Current portion of long-term debt
-€6,457
Contributions, distributions and other
-€959
Cash 2025
€4,562
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €198,274 | €164,434 | -€33,840 | -17.1% |
| Fixed assets | 21/28 | €191,643 | €150,689 | -€40,954 | -21.4% |
| Intangible fixed assets | 21 | €26,275 | €16,506 | -€9,769 | -37.2% |
| Tangible fixed assets | 22/27 | €165,368 | €134,183 | -€31,186 | -18.9% |
| Plant, machinery and equipment | 23 | €5,786 | €3,188 | -€2,598 | -44.9% |
| Furniture and vehicles | 24 | €5,428 | €2,459 | -€2,969 | -54.7% |
| Leasing and similar rights | 25 | €11,447 | €7,379 | -€4,068 | -35.5% |
| Other tangible fixed assets | 26 | €142,708 | €121,157 | -€21,551 | -15.1% |
| Current assets | 29/58 | €6,630 | €13,745 | +€7,115 | +107% |
| Amounts receivable within one year | 40/41 | €895 | €149 | -€746 | -83.3% |
| Trade receivables | 40 | €625 | €12 | -€613 | -98.1% |
| Other amounts receivable | 41 | €270 | €137 | -€133 | -49.2% |
| Cash at bank and in hand | 54/58 | €4,405 | €4,562 | +€157 | +3.6% |
| Deferred charges and accrued income | 490/1 | €1,331 | €9,034 | +€7,703 | +579% |
| Total equity and liabilities | 10/49 | €198,274 | €164,434 | -€33,840 | -17.1% |
| Equity | 10/15 | -€167,508 | -€171,555 | -€4,047 | -2.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €119 | €119 | = | 0.0% |
| Tax-exempt reserves | 132 | €119 | €119 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€188,145 | -€191,233 | -€3,088 | -1.6% |
| Investment grants | 15 | €1,917 | €958 | -€959 | -50.0% |
| Amounts payable | 17/49 | €365,782 | €335,989 | -€29,793 | -8.1% |
| Amounts payable after more than one year | 17 | €7,503 | €3,268 | -€4,234 | -56.4% |
| Financial debts | 170/4 | €7,503 | €3,268 | -€4,234 | -56.4% |
| Amounts payable within one year | 42/48 | €358,279 | €332,721 | -€25,559 | -7.1% |
| Current portion of amounts payable after more than one year | 42 | €10,692 | €4,234 | -€6,457 | -60.4% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €32,998 | €29,612 | -€3,386 | -10.3% |
| Suppliers | 440/4 | €32,998 | €29,612 | -€3,386 | -10.3% |
| Taxes, remuneration and social security | 45 | €48,029 | €43,551 | -€4,478 | -9.3% |
| Taxes | 450/3 | €18,292 | €18,530 | +€238 | +1.3% |
| Remuneration and social security | 454/9 | €29,738 | €25,022 | -€4,716 | -15.9% |
| Other amounts payable | 47/48 | €266,561 | €255,323 | -€11,238 | -4.2% |
| Remuneration, social security and pensions | 62 | €135,669 | €114,804 | -€20,865 | -15.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,189 | €40,954 | -€235 | -0.6% |
| Other operating charges | 640/8 | €3,821 | €3,958 | +€137 | +3.6% |
| Gross operating margin | 9900 | €157,122 | €160,798 | +€3,676 | +2.3% |
| Operating profit (loss) | 9901 | -€23,557 | €1,082 | +€24,639 | |
| Financial income | 75/76B | €1,888 | €1,246 | -€642 | -34.0% |
| Recurring financial income | 75 | €1,888 | €1,246 | -€642 | -34.0% |
| Financial charges | 65/66B | €5,099 | €5,240 | +€140 | +2.8% |
| Recurring financial charges | 65 | €5,099 | €5,240 | +€140 | +2.8% |
| Profit (loss) for the period before taxes | 9903 | -€26,769 | -€2,912 | +€23,857 | +89.1% |
| Income taxes | 67/77 | €174 | €176 | +€2 | +1.0% |
| Profit (loss) for the period | 9904 | -€26,943 | -€3,088 | +€23,855 | +88.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,943 | -€3,088 | +€23,855 | +88.5% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.