NEW HORIZONS PROJECT: 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.
NEW HORIZONS PROJECT
Largest movements
- Cash -€26,750
down €26,750 (-29.1%), from €91,954 to €65,204
mainly Other debts (-€19,274) and Net result for the year (-€11,754)
- Receivables within one year -€7,250
down €7,250 (-87.9%), from €8,250 to €1,000
- Other debts -€19,274
down €19,274 (-53.5%), from €36,045 to €16,771
- Profit (loss) carried forward -€11,754
down €11,754 (-91.3%), from -€12,878 to -€24,631
- Tax, wage and social debts -€1,048
down €1,048 (-43.0%), from €2,440 to €1,392
- Short-term financial debts -€1,048
no longer reported in 2025 (was €1,048)
- Gross operating margin +€951
up €951 (+10.0%), from -€9,534 to -€8,582
- Financial income +€264
up €264 (+183%), from €144 to €408
- Other operating charges +€123
up €123 (+4.0%), from €3,104 to €3,227
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 | €100,204 | €66,204 | -€34,000 | -33.9% |
| Current assets | 29/58 | €100,204 | €66,204 | -€34,000 | -33.9% |
| Amounts receivable within one year | 40/41 | €8,250 | €1,000 | -€7,250 | -87.9% |
| Trade receivables | 40 | €8,250 | €1,000 | -€7,250 | -87.9% |
| Cash at bank and in hand | 54/58 | €91,954 | €65,204 | -€26,750 | -29.1% |
| Total equity and liabilities | 10/49 | €100,204 | €66,204 | -€34,000 | -33.9% |
| Equity | 10/15 | €59,795 | €48,041 | -€11,754 | -19.7% |
| Reserves | 13 | €72,672 | €72,672 | = | 0.0% |
| Distributable reserves | 133 | €72,672 | €72,672 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,878 | -€24,631 | -€11,754 | -91.3% |
| Amounts payable | 17/49 | €40,409 | €18,162 | -€22,247 | -55.1% |
| Amounts payable within one year | 42/48 | €40,409 | €18,162 | -€22,247 | -55.1% |
| Financial debts | 43 | €1,048 | - | -€1,048 | |
| Credit institutions | 430/8 | €1,048 | - | -€1,048 | |
| Trade debts | 44 | €877 | - | -€877 | |
| Suppliers | 440/4 | €877 | - | -€877 | |
| Taxes, remuneration and social security | 45 | €2,440 | €1,392 | -€1,048 | -43.0% |
| Taxes | 450/3 | €2,440 | €1,392 | -€1,048 | -43.0% |
| Other amounts payable | 47/48 | €36,045 | €16,771 | -€19,274 | -53.5% |
| Other operating charges | 640/8 | €3,104 | €3,227 | +€123 | +4.0% |
| Gross operating margin | 9900 | -€9,534 | -€8,582 | +€951 | +10.0% |
| Operating profit (loss) | 9901 | -€12,637 | -€11,810 | +€828 | +6.5% |
| Financial income | 75/76B | €144 | €408 | +€264 | +183% |
| Recurring financial income | 75 | €144 | €408 | +€264 | +183% |
| Financial charges | 65/66B | €213 | €176 | -€37 | -17.5% |
| Recurring financial charges | 65 | €213 | €176 | -€37 | -17.5% |
| Profit (loss) for the period before taxes | 9903 | -€12,707 | -€11,577 | +€1,129 | +8.9% |
| Income taxes | 67/77 | €171 | €176 | +€5 | +3.1% |
| Profit (loss) for the period | 9904 | -€12,878 | -€11,754 | +€1,124 | +8.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,878 | -€11,754 | +€1,124 | +8.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.