Bekaert Horeca Services: what changed
Bekaert Horeca Services
Largest movements
- Financial fixed assets +€801,075
up €801,075 (+160%), from €500,000 to €1.3m
- Tangible fixed assets -€37,342
down €37,342 (-85.6%), from €43,636 to €6,294
of which Leasing and similar rights: -€36,069
- Receivables within one year +€30,471
up €30,471 (+121%), from €25,215 to €55,687
of which Trade receivables: +€34,270
- Cash -€17,676
down €17,676 (-50.3%), from €35,166 to €17,490
mainly Investment in fixed assets (net) (-€765,006) and Receivables within one year (-€30,471)
- Debts after one year +€385,835
up €385,835 (+259%), from €149,165 to €535,000
- Contributions +€301,075
up €301,075 (+1,204%), from €25,000 to €326,075
- Reserves +€44,337
up €44,337 (+14.2%), from €312,230 to €356,567
- Current portion of long-term debt +€29,594
up €29,594 (+42.0%), from €70,406 to €100,000
- Gross operating margin +€13,927
up €13,927 (+14.4%), from €97,012 to €110,939
- Depreciation -€12,632
down €12,632 (-90.8%), from €13,905 to €1,274
- Financial charges +€7,397
up €7,397 (+93.2%), from €7,938 to €15,335
- Other operating charges +€6,129
up €6,129 (+1,521%), from €403 to €6,532
- Taxes +€3,383
up €3,383 (+17.9%), from €18,879 to €22,262
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 | €604,385 | €1,380,665 | +€776,281 | +128% |
| Fixed assets | 21/28 | €543,636 | €1,307,369 | +€763,733 | +140% |
| Tangible fixed assets | 22/27 | €43,636 | €6,294 | -€37,342 | -85.6% |
| Furniture and vehicles | 24 | €703 | €153 | -€551 | -78.3% |
| Leasing and similar rights | 25 | €36,069 | €0 | -€36,069 | -100% |
| Other tangible fixed assets | 26 | €6,864 | €6,141 | -€723 | -10.5% |
| Financial fixed assets | 28 | €500,000 | €1,301,075 | +€801,075 | +160% |
| Current assets | 29/58 | €60,748 | €73,296 | +€12,548 | +20.7% |
| Amounts receivable within one year | 40/41 | €25,215 | €55,687 | +€30,471 | +121% |
| Trade receivables | 40 | €21,417 | €55,687 | +€34,270 | +160% |
| Other amounts receivable | 41 | €3,798 | €0 | -€3,798 | -100% |
| Cash at bank and in hand | 54/58 | €35,166 | €17,490 | -€17,676 | -50.3% |
| Deferred charges and accrued income | 490/1 | €367 | €120 | -€247 | -67.3% |
| Total equity and liabilities | 10/49 | €604,385 | €1,380,665 | +€776,281 | +128% |
| Equity | 10/15 | €337,230 | €682,642 | +€345,412 | +102% |
| Contributions | 10/11 | €25,000 | €326,075 | +€301,075 | +1,204% |
| Reserves | 13 | €312,230 | €356,567 | +€44,337 | +14.2% |
| Distributable reserves | 133 | €312,230 | €356,567 | +€44,337 | +14.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €267,154 | €698,023 | +€430,869 | +161% |
| Amounts payable after more than one year | 17 | €149,165 | €535,000 | +€385,835 | +259% |
| Financial debts | 170/4 | €149,165 | €535,000 | +€385,835 | +259% |
| Amounts payable within one year | 42/48 | €113,399 | €157,857 | +€44,458 | +39.2% |
| Current portion of amounts payable after more than one year | 42 | €70,406 | €100,000 | +€29,594 | +42.0% |
| Financial debts | 43 | €3,381 | €5,046 | +€1,665 | +49.3% |
| Credit institutions | 430/8 | €3,381 | €5,046 | +€1,665 | +49.3% |
| Trade debts | 44 | €2,445 | €2,570 | +€125 | +5.1% |
| Suppliers | 440/4 | €2,445 | €2,570 | +€125 | +5.1% |
| Taxes, remuneration and social security | 45 | €12,721 | €23,608 | +€10,888 | +85.6% |
| Taxes | 450/3 | €12,721 | €23,608 | +€10,888 | +85.6% |
| Other amounts payable | 47/48 | €24,447 | €26,632 | +€2,185 | +8.9% |
| Accrued charges and deferred income | 492/3 | €4,590 | €5,166 | +€576 | +12.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,905 | €1,274 | -€12,632 | -90.8% |
| Other operating charges | 640/8 | €403 | €6,532 | +€6,129 | +1,521% |
| Gross operating margin | 9900 | €97,012 | €110,939 | +€13,927 | +14.4% |
| Operating profit (loss) | 9901 | €82,704 | €103,133 | +€20,430 | +24.7% |
| Financial income | 75/76B | €76 | €0 | -€76 | -100% |
| Recurring financial income | 75 | €76 | €0 | -€76 | -100% |
| Financial charges | 65/66B | €7,938 | €15,335 | +€7,397 | +93.2% |
| Recurring financial charges | 65 | €7,938 | €15,335 | +€7,397 | +93.2% |
| Profit (loss) for the period before taxes | 9903 | €74,841 | €87,798 | +€12,957 | +17.3% |
| Income taxes | 67/77 | €18,879 | €22,262 | +€3,383 | +17.9% |
| Profit (loss) for the period | 9904 | €55,962 | €65,537 | +€9,574 | +17.1% |
| Profit (loss) for the period to be appropriated | 9905 | €55,962 | €65,537 | +€9,574 | +17.1% |
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 1 November 2026 via checked.be.