SEVEN HORIZONS: what changed
SEVEN HORIZONS
Largest movements
- Current investments -€130,000
down €130,000 (-100.0%), from €130,032 to €32
- Cash +€52,364
up €52,364 (+65.1%), from €80,430 to €132,794
mainly Net result for the year (+€154,598) and Current investments (+€130,000)
- Receivables within one year +€25,635
up €25,635 (+4,674%), from €548 to €26,183
of which Trade receivables: +€26,033
- Tangible fixed assets -€3,724
down €3,724 (-17.6%), from €21,187 to €17,463
of which Furniture and vehicles: -€2,345
- Deferred charges and accrued income +€2,682
up €2,682 (+1,360%), from €197 to €2,880
- Other debts -€40,800
down €40,800 (-25.9%), from €157,250 to €116,450
- Tax, wage and social debts -€10,837
down €10,837 (-21.0%), from €51,501 to €40,664
- Gross operating margin -€62,171
down €62,171 (-23.2%), from €267,914 to €205,742
- Taxes -€13,693
down €13,693 (-22.1%), from €62,061 to €48,368
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €232,395 | €179,352 | -€53,042 | -22.8% |
| Fixed assets | 21/28 | €21,187 | €17,463 | -€3,724 | -17.6% |
| Tangible fixed assets | 22/27 | €21,187 | €17,463 | -€3,724 | -17.6% |
| Furniture and vehicles | 24 | €10,617 | €8,272 | -€2,345 | -22.1% |
| Other tangible fixed assets | 26 | €10,571 | €9,191 | -€1,379 | -13.0% |
| Current assets | 29/58 | €211,207 | €161,889 | -€49,318 | -23.4% |
| Amounts receivable within one year | 40/41 | €548 | €26,183 | +€25,635 | +4,674% |
| Trade receivables | 40 | €84 | €26,117 | +€26,033 | +31,148% |
| Other amounts receivable | 41 | €465 | €66 | -€399 | -85.7% |
| Current investments | 50/53 | €130,032 | €32 | -€130,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €80,430 | €132,794 | +€52,364 | +65.1% |
| Deferred charges and accrued income | 490/1 | €197 | €2,880 | +€2,682 | +1,360% |
| Total equity and liabilities | 10/49 | €232,395 | €179,352 | -€53,042 | -22.8% |
| Equity | 10/15 | €20,350 | €20,448 | +€98 | +0.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,850 | €17,948 | +€98 | +0.6% |
| Amounts payable | 17/49 | €212,045 | €158,904 | -€53,141 | -25.1% |
| Amounts payable within one year | 42/48 | €212,045 | €158,904 | -€53,141 | -25.1% |
| Trade debts | 44 | €3,294 | €1,790 | -€1,504 | -45.7% |
| Suppliers | 440/4 | €3,294 | €1,790 | -€1,504 | -45.7% |
| Taxes, remuneration and social security | 45 | €51,501 | €40,664 | -€10,837 | -21.0% |
| Taxes | 450/3 | €51,501 | €40,664 | -€10,837 | -21.0% |
| Other amounts payable | 47/48 | €157,250 | €116,450 | -€40,800 | -25.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €6,889 | +€6,889 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,837 | €4,062 | -€1,775 | -30.4% |
| Other operating charges | 640/8 | €696 | €2,306 | +€1,610 | +231% |
| Gross operating margin | 9900 | €267,914 | €205,742 | -€62,171 | -23.2% |
| Operating profit (loss) | 9901 | €261,381 | €199,374 | -€62,006 | -23.7% |
| Financial income | 75/76B | €3,546 | €3,931 | +€386 | +10.9% |
| Recurring financial income | 75 | €3,546 | €3,931 | +€386 | +10.9% |
| Financial charges | 65/66B | €252 | €339 | +€87 | +34.4% |
| Recurring financial charges | 65 | €252 | €339 | +€87 | +34.4% |
| Profit (loss) for the period before taxes | 9903 | €264,674 | €202,966 | -€61,708 | -23.3% |
| Income taxes | 67/77 | €62,061 | €48,368 | -€13,693 | -22.1% |
| Profit (loss) for the period | 9904 | €202,612 | €154,598 | -€48,014 | -23.7% |
| Profit (loss) for the period to be appropriated | 9905 | €202,612 | €154,598 | -€48,014 | -23.7% |
Next steps
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.