HORUS+: what changed
Two fiscal 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.
HORUS+
Largest movements
- Tangible fixed assets +€11,259
up €11,259 (+17.4%), from €64,522 to €75,781
of which Plant, machinery and equipment: +€22,273
- Other debts +€24,495
up €24,495 (+7.7%), from €320,141 to €344,636
- Trade debts -€11,743
down €11,743 (-39.3%), from €29,877 to €18,134
- Profit (loss) carried forward -€4,523
down €4,523 (-2.6%), from -€172,304 to -€176,827
- Gross operating margin +€65,099
up €65,099 (+137.9%), from €47,191 to €112,290
- Staff costs +€26,333
up €26,333 (+42.9%), from €61,441 to €87,773
- Depreciation +€9,176
up €9,176 (+136.0%), from €6,747 to €15,923
- Other operating charges +€4,222
up €4,222 (+58.5%), from €7,218 to €11,440
- Financial charges +€1,277
up €1,277 (+319.0%), from €400 to €1,677
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €205,572 | €215,572 | +€10,000 | +4.9% |
| Fixed assets | 21/28 | €66,767 | €78,026 | +€11,259 | +16.9% |
| Tangible fixed assets | 22/27 | €64,522 | €75,781 | +€11,259 | +17.4% |
| Plant, machinery and equipment | 23 | €16,917 | €39,189 | +€22,273 | +131.7% |
| Furniture and vehicles | 24 | €47,605 | €36,592 | -€11,014 | -23.1% |
| Financial fixed assets | 28 | €2,245 | €2,245 | = | 0.0% |
| Current assets | 29/58 | €138,805 | €137,546 | -€1,259 | -0.9% |
| Amounts receivable within one year | 40/41 | €138,250 | €136,730 | -€1,520 | -1.1% |
| Trade receivables | 40 | €138,250 | €135,809 | -€2,441 | -1.8% |
| Other amounts receivable | 41 | - | €921 | +€921 | |
| Cash at bank and in hand | 54/58 | €555 | €817 | +€261 | +47.1% |
| Total equity and liabilities | 10/49 | €205,572 | €215,572 | +€10,000 | +4.9% |
| Equity | 10/15 | -€153,704 | -€158,227 | -€4,523 | -2.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€172,304 | -€176,827 | -€4,523 | -2.6% |
| Amounts payable | 17/49 | €359,277 | €373,799 | +€14,523 | +4.0% |
| Amounts payable within one year | 42/48 | €359,277 | €373,799 | +€14,523 | +4.0% |
| Current portion of amounts payable after more than one year | 42 | €1,281 | €1,281 | = | 0.0% |
| Trade debts | 44 | €29,877 | €18,134 | -€11,743 | -39.3% |
| Suppliers | 440/4 | €29,877 | €18,134 | -€11,743 | -39.3% |
| Taxes, remuneration and social security | 45 | €7,978 | €9,749 | +€1,771 | +22.2% |
| Taxes | 450/3 | €1,585 | €6,743 | +€5,158 | +325.3% |
| Remuneration and social security | 454/9 | €6,393 | €3,006 | -€3,387 | -53.0% |
| Other amounts payable | 47/48 | €320,141 | €344,636 | +€24,495 | +7.7% |
| Remuneration, social security and pensions | 62 | €61,441 | €87,773 | +€26,333 | +42.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,747 | €15,923 | +€9,176 | +136.0% |
| Other operating charges | 640/8 | €7,218 | €11,440 | +€4,222 | +58.5% |
| Gross operating margin | 9900 | €47,191 | €112,290 | +€65,099 | +137.9% |
| Operating profit (loss) | 9901 | -€28,214 | -€2,846 | +€25,368 | +89.9% |
| Financial income | 75/76B | €205 | - | -€205 | |
| Recurring financial income | 75 | €205 | - | -€205 | |
| Financial charges | 65/66B | €400 | €1,677 | +€1,277 | +319.0% |
| Recurring financial charges | 65 | €400 | €1,677 | +€1,277 | +319.0% |
| Profit (loss) for the period before taxes | 9903 | -€28,410 | -€4,523 | +€23,887 | +84.1% |
| Profit (loss) for the period | 9904 | -€28,410 | -€4,523 | +€23,887 | +84.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,410 | -€4,523 | +€23,887 | +84.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.