Villa Hortensia: what changed
Villa Hortensia
Largest movements
- Cash +€17,909
up €17,909 (+65.2%), from €27,469 to €45,377
mainly Net result for the year (+€13,619) and Receivables within one year (+€6,085)
- Tangible fixed assets +€6,516
up €6,516 (+506%), from €1,288 to €7,804
of which Land and buildings: +€6,971
- Receivables within one year -€6,085
down €6,085 (-28.7%), from €21,222 to €15,138
of which Other amounts receivable: -€6,536
- Reserves +€13,619
up €13,619 (+30.9%), from €44,023 to €57,641
- Trade debts +€4,268
up €4,268 (+1,484%), from €288 to €4,556
- Gross operating margin -€38,081
down €38,081 (-68.1%), from €55,916 to €17,835
- Taxes -€7,736
down €7,736 (-67.7%), from €11,424 to €3,687
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 | €51,110 | €68,997 | +€17,887 | +35.0% |
| Fixed assets | 21/28 | €1,288 | €7,804 | +€6,516 | +506% |
| Tangible fixed assets | 22/27 | €1,288 | €7,804 | +€6,516 | +506% |
| Land and buildings | 22 | - | €6,971 | +€6,971 | |
| Furniture and vehicles | 24 | €1,288 | €833 | -€455 | -35.3% |
| Current assets | 29/58 | €49,822 | €61,193 | +€11,370 | +22.8% |
| Amounts receivable within one year | 40/41 | €21,222 | €15,138 | -€6,085 | -28.7% |
| Trade receivables | 40 | €8,624 | €9,075 | +€451 | +5.2% |
| Other amounts receivable | 41 | €12,598 | €6,063 | -€6,536 | -51.9% |
| Cash at bank and in hand | 54/58 | €27,469 | €45,377 | +€17,909 | +65.2% |
| Deferred charges and accrued income | 490/1 | €1,131 | €678 | -€453 | -40.1% |
| Total equity and liabilities | 10/49 | €51,110 | €68,997 | +€17,887 | +35.0% |
| Equity | 10/15 | €49,023 | €62,641 | +€13,619 | +27.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €44,023 | €57,641 | +€13,619 | +30.9% |
| Distributable reserves | 133 | €44,023 | €57,641 | +€13,619 | +30.9% |
| Amounts payable | 17/49 | €2,088 | €6,356 | +€4,268 | +204% |
| Amounts payable within one year | 42/48 | €2,088 | €6,356 | +€4,268 | +204% |
| Trade debts | 44 | €288 | €4,556 | +€4,268 | +1,484% |
| Suppliers | 440/4 | €288 | €4,556 | +€4,268 | +1,484% |
| Taxes, remuneration and social security | 45 | €1,800 | €1,800 | = | 0.0% |
| Taxes | 450/3 | €1,800 | €1,800 | = | 0.0% |
| Non-recurring operating income | 76A | €7,000 | €0 | -€7,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77 | €484 | +€407 | +531% |
| Other operating charges | 640/8 | €471 | €292 | -€179 | -37.9% |
| Gross operating margin | 9900 | €55,916 | €17,835 | -€38,081 | -68.1% |
| Operating profit (loss) | 9901 | €55,369 | €17,059 | -€38,310 | -69.2% |
| Financial income | 75/76B | €192 | €301 | +€109 | +56.7% |
| Recurring financial income | 75 | €192 | €301 | +€109 | +56.7% |
| Financial charges | 65/66B | €115 | €54 | -€61 | -52.9% |
| Recurring financial charges | 65 | €115 | €54 | -€61 | -52.9% |
| Profit (loss) for the period before taxes | 9903 | €55,446 | €17,306 | -€38,140 | -68.8% |
| Income taxes | 67/77 | €11,424 | €3,687 | -€7,736 | -67.7% |
| Profit (loss) for the period | 9904 | €44,023 | €13,619 | -€30,404 | -69.1% |
| Profit (loss) for the period to be appropriated | 9905 | €44,023 | €13,619 | -€30,404 | -69.1% |
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 5 November 2026 via checked.be.