A.T. HORECA: 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.
A.T. HORECA
Largest movements
- Receivables within one year +€116,170
up €116,170 (+22.9%), from €507,221 to €623,391
of which Trade receivables: +€120,251
- Cash -€74,470
down €74,470 (-78.2%), from €95,276 to €20,806
mainly Receivables within one year (-€116,170) and Trade debts (-€85,194)
- Profit (loss) carried forward +€91,310
up €91,310 (+36.0%), from €253,669 to €344,979
- Trade debts -€85,194
down €85,194 (-49.7%), from €171,474 to €86,280
- Tax, wage and social debts +€36,634
up €36,634 (+122%), from €29,914 to €66,548
of which Remuneration and social security: +€27,132
- Gross operating margin -€37,968
down €37,968 (-18.2%), from €209,166 to €171,199
- Staff costs -€5,752
down €5,752 (-8.5%), from €67,777 to €62,025
- Taxes +€4,026
up €4,026 (+43.4%), from €9,281 to €13,307
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 | €624,868 | €667,618 | +€42,750 | +6.8% |
| Fixed assets | 21/28 | €4,804 | €3,447 | -€1,357 | -28.3% |
| Tangible fixed assets | 22/27 | €4,720 | €3,362 | -€1,357 | -28.8% |
| Plant, machinery and equipment | 23 | €867 | €1,362 | +€496 | +57.2% |
| Furniture and vehicles | 24 | €3,853 | €2,000 | -€1,853 | -48.1% |
| Financial fixed assets | 28 | €85 | €85 | = | 0.0% |
| Current assets | 29/58 | €620,064 | €664,172 | +€44,107 | +7.1% |
| Stocks and contracts in progress | 3 | €15,050 | €19,975 | +€4,925 | +32.7% |
| Stocks | 30/36 | €15,050 | €19,975 | +€4,925 | +32.7% |
| Amounts receivable within one year | 40/41 | €507,221 | €623,391 | +€116,170 | +22.9% |
| Trade receivables | 40 | €488,152 | €608,403 | +€120,251 | +24.6% |
| Other amounts receivable | 41 | €19,069 | €14,988 | -€4,081 | -21.4% |
| Cash at bank and in hand | 54/58 | €95,276 | €20,806 | -€74,470 | -78.2% |
| Deferred charges and accrued income | 490/1 | €2,518 | - | -€2,518 | |
| Total equity and liabilities | 10/49 | €624,868 | €667,618 | +€42,750 | +6.8% |
| Equity | 10/15 | €274,129 | €365,439 | +€91,310 | +33.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €253,669 | €344,979 | +€91,310 | +36.0% |
| Amounts payable | 17/49 | €350,739 | €302,179 | -€48,560 | -13.8% |
| Amounts payable within one year | 42/48 | €350,739 | €302,179 | -€48,560 | -13.8% |
| Trade debts | 44 | €171,474 | €86,280 | -€85,194 | -49.7% |
| Suppliers | 440/4 | €171,474 | €86,280 | -€85,194 | -49.7% |
| Advances received on contracts in progress | 46 | €149,351 | €149,351 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €29,914 | €66,548 | +€36,634 | +122% |
| Taxes | 450/3 | €1,172 | €10,674 | +€9,502 | +811% |
| Remuneration and social security | 454/9 | €28,742 | €55,874 | +€27,132 | +94.4% |
| Remuneration, social security and pensions | 62 | €67,777 | €62,025 | -€5,752 | -8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,187 | €2,464 | +€277 | +12.7% |
| Other operating charges | 640/8 | €1,141 | €799 | -€342 | -30.0% |
| Non-recurring operating charges | 66A | €6,774 | €830 | -€5,944 | -87.7% |
| Gross operating margin | 9900 | €209,166 | €171,199 | -€37,968 | -18.2% |
| Operating profit (loss) | 9901 | €131,287 | €105,080 | -€26,207 | -20.0% |
| Financial charges | 65/66B | €242 | €464 | +€221 | +91.3% |
| Recurring financial charges | 65 | €242 | €464 | +€221 | +91.3% |
| Profit (loss) for the period before taxes | 9903 | €131,044 | €104,616 | -€26,428 | -20.2% |
| Income taxes | 67/77 | €9,281 | €13,307 | +€4,026 | +43.4% |
| Profit (loss) for the period | 9904 | €121,764 | €91,310 | -€30,454 | -25.0% |
| Profit (loss) for the period to be appropriated | 9905 | €121,764 | €91,310 | -€30,454 | -25.0% |
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 24 October 2026 via checked.be.