Musee Horta: 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.
Musee Horta
Largest movements
- Cash -€240,813
down €240,813 (-43.8%), from €549,583 to €308,769
mainly Accrued charges and deferred income (-€101,820) and Deferred charges and accrued income (-€91,702)
- Deferred charges and accrued income +€91,702
up €91,702 (+40.4%), from €226,940 to €318,642
- Receivables within one year +€70,213
up €70,213 (+659%), from €10,648 to €80,861
of which Trade receivables: +€40,213
- Tangible fixed assets -€11,322
down €11,322 (-24.5%), from €46,246 to €34,923
- Accrued charges and deferred income -€101,820
down €101,820 (-91.7%), from €111,000 to €9,180
- Tax, wage and social debts +€30,767
up €30,767 (+38.1%), from €80,658 to €111,425
- Trade debts -€14,713
down €14,713 (-11.7%), from €125,736 to €111,023
- Turnover +€121,582
up €121,582 (+12.0%), from €1.0m to €1.1m
- Purchases and services +€58,367
up €58,367 (+6.5%), from €893,550 to €951,917
- Staff costs +€48,134
up €48,134 (+5.3%), from €914,782 to €962,916
- Gross operating margin +€35,623
up €35,623 (+3.7%), from €961,316 to €996,939
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 | €891,430 | €806,088 | -€85,342 | -9.6% |
| Fixed assets | 21/28 | €46,431 | €34,923 | -€11,507 | -24.8% |
| Tangible fixed assets | 22/27 | €46,246 | €34,923 | -€11,322 | -24.5% |
| Furniture and vehicles | 24 | €46,246 | €34,923 | -€11,322 | -24.5% |
| Financial fixed assets | 28 | €185 | - | -€185 | |
| Current assets | 29/58 | €844,999 | €771,165 | -€73,834 | -8.7% |
| Stocks and contracts in progress | 3 | €57,829 | €62,892 | +€5,063 | +8.8% |
| Stocks | 30/36 | €57,829 | €62,892 | +€5,063 | +8.8% |
| Amounts receivable within one year | 40/41 | €10,648 | €80,861 | +€70,213 | +659% |
| Trade receivables | 40 | €10,648 | €50,861 | +€40,213 | +378% |
| Other amounts receivable | 41 | - | €30,000 | +€30,000 | |
| Cash at bank and in hand | 54/58 | €549,583 | €308,769 | -€240,813 | -43.8% |
| Deferred charges and accrued income | 490/1 | €226,940 | €318,642 | +€91,702 | +40.4% |
| Total equity and liabilities | 10/49 | €891,430 | €806,088 | -€85,342 | -9.6% |
| Equity | 10/15 | €571,048 | €571,120 | +€72 | 0.0% |
| Profit (loss) carried forward | 14 | €571,048 | €571,120 | +€72 | 0.0% |
| Amounts payable | 17/49 | €320,382 | €234,968 | -€85,414 | -26.7% |
| Amounts payable within one year | 42/48 | €209,382 | €225,788 | +€16,406 | +7.8% |
| Financial debts | 43 | €2,988 | €3,339 | +€352 | +11.8% |
| Credit institutions | 430/8 | €2,988 | €3,339 | +€352 | +11.8% |
| Trade debts | 44 | €125,736 | €111,023 | -€14,713 | -11.7% |
| Suppliers | 440/4 | €125,736 | €111,023 | -€14,713 | -11.7% |
| Taxes, remuneration and social security | 45 | €80,658 | €111,425 | +€30,767 | +38.1% |
| Remuneration and social security | 454/9 | €80,658 | €111,425 | +€30,767 | +38.1% |
| Accrued charges and deferred income | 492/3 | €111,000 | €9,180 | -€101,820 | -91.7% |
| Turnover | 70 | €1,015,517 | €1,137,099 | +€121,582 | +12.0% |
| Membership fees, donations, legacies and grants | 73 | €829,651 | €811,758 | -€17,893 | -2.2% |
| Non-recurring operating income | 76A | €9,699 | - | -€9,699 | |
| Goods, raw materials, services and sundry goods | 60/61 | €893,550 | €951,917 | +€58,367 | +6.5% |
| Remuneration, social security and pensions | 62 | €914,782 | €962,916 | +€48,134 | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,002 | €11,322 | -€10,680 | -48.5% |
| Other operating charges | 640/8 | €1,992 | €1,718 | -€274 | -13.7% |
| Gross operating margin | 9900 | €961,316 | €996,939 | +€35,623 | +3.7% |
| Operating profit (loss) | 9901 | €22,539 | €20,983 | -€1,557 | -6.9% |
| Financial income | 75/76B | €2 | €82 | +€80 | +3,733% |
| Recurring financial income | 75 | €2 | €82 | +€80 | +3,733% |
| Financial charges | 65/66B | €19,955 | €20,432 | +€476 | +2.4% |
| Recurring financial charges | 65 | €19,320 | €20,432 | +€1,111 | +5.8% |
| Non-recurring financial charges | 66B | €635 | - | -€635 | |
| Profit (loss) for the period before taxes | 9903 | €2,586 | €633 | -€1,953 | -75.5% |
| Profit (loss) for the period | 9904 | €2,586 | €633 | -€1,953 | -75.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,586 | €633 | -€1,953 | -75.5% |
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 15 October 2026 via checked.be.