LNB HORIZON: 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.
LNB HORIZON
Largest movements
- Current investments -€37,101
no longer reported in 2025 (was €37,101)
- Cash -€11,560
down €11,560 (-31.6%), from €36,586 to €25,026
mainly Contributions, distributions and other (-€86,000) and Receivables within one year (-€10,997)
- Receivables within one year +€10,997
up €10,997 (+193%), from €5,708 to €16,705
- Reserves -€57,192
down €57,192 (-99.5%), from €57,456 to €263
- Tax, wage and social debts +€22,882
up €22,882 (+150%), from €15,220 to €38,102
of which Taxes: +€21,820
- Other debts -€3,449
down €3,449 (-33.3%), from €10,363 to €6,914
- Gross operating margin -€12,878
down €12,878 (-28.0%), from €46,007 to €33,129
- Financial income +€9,699
up €9,699 (+2,164%), from €448 to €10,148
- Other operating charges +€2,666
up €2,666 (+572%), from €466 to €3,132
- Financial charges +€676
up €676 (+233%), from €291 to €967
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 | €89,485 | €51,821 | -€37,664 | -42.1% |
| Fixed assets | 21/28 | €10,090 | €10,090 | = | 0.0% |
| Tangible fixed assets | 22/27 | €10,007 | €10,007 | = | 0.0% |
| Other tangible fixed assets | 26 | €10,007 | €10,007 | = | 0.0% |
| Financial fixed assets | 28 | €83 | €83 | = | 0.0% |
| Current assets | 29/58 | €79,395 | €41,731 | -€37,664 | -47.4% |
| Amounts receivable within one year | 40/41 | €5,708 | €16,705 | +€10,997 | +193% |
| Trade receivables | 40 | €5,708 | €16,705 | +€10,997 | +193% |
| Current investments | 50/53 | €37,101 | - | -€37,101 | |
| Cash at bank and in hand | 54/58 | €36,586 | €25,026 | -€11,560 | -31.6% |
| Total equity and liabilities | 10/49 | €89,485 | €51,821 | -€37,664 | -42.1% |
| Equity | 10/15 | €61,456 | €4,263 | -€57,192 | -93.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €57,456 | €263 | -€57,192 | -99.5% |
| Distributable reserves | 133 | €57,456 | €263 | -€57,192 | -99.5% |
| Amounts payable | 17/49 | €28,030 | €47,558 | +€19,528 | +69.7% |
| Amounts payable within one year | 42/48 | €28,030 | €47,558 | +€19,528 | +69.7% |
| Trade debts | 44 | €2,447 | €2,541 | +€95 | +3.9% |
| Suppliers | 440/4 | €2,447 | €2,541 | +€95 | +3.9% |
| Taxes, remuneration and social security | 45 | €15,220 | €38,102 | +€22,882 | +150% |
| Taxes | 450/3 | €15,220 | €37,040 | +€21,820 | +143% |
| Remuneration and social security | 454/9 | - | €1,062 | +€1,062 | |
| Other amounts payable | 47/48 | €10,363 | €6,914 | -€3,449 | -33.3% |
| Other operating charges | 640/8 | €466 | €3,132 | +€2,666 | +572% |
| Gross operating margin | 9900 | €46,007 | €33,129 | -€12,878 | -28.0% |
| Operating profit (loss) | 9901 | €45,541 | €29,998 | -€15,543 | -34.1% |
| Financial income | 75/76B | €448 | €10,148 | +€9,699 | +2,164% |
| Recurring financial income | 75 | €448 | €10,148 | +€9,699 | +2,164% |
| Financial charges | 65/66B | €291 | €967 | +€676 | +233% |
| Recurring financial charges | 65 | €291 | €967 | +€676 | +233% |
| Profit (loss) for the period before taxes | 9903 | €45,698 | €39,178 | -€6,520 | -14.3% |
| Income taxes | 67/77 | €9,973 | €10,371 | +€398 | +4.0% |
| Profit (loss) for the period | 9904 | €35,726 | €28,808 | -€6,918 | -19.4% |
| Profit (loss) for the period to be appropriated | 9905 | €35,726 | €28,808 | -€6,918 | -19.4% |
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 20 October 2026 via checked.be.