DEN GOUDEN APPEL: 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.
What changed
DEN GOUDEN APPEL
NACE 56.111, Full-service restaurants
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€21,580
2024 · €6,640+€14,940
Equity
€51,297
2024 · €54,717-€3,420
Cash
€34,274
2024 · €10,080+€24,194
Balance sheet total
€608,032
2024 · €448,346+€159,685
Largest movements
Assets
- Receivables within one year +€130,622
up €130,622 (+3,362%), from €3,885 to €134,507
of which Trade receivables: +€133,412
- Cash +€24,194
up €24,194 (+240%), from €10,080 to €34,274
mainly Debts after one year (+€120,146) and Depreciation (+€47,048)
Equity and liabilities
- Debts after one year +€120,146
up €120,146 (+40.6%), from €295,821 to €415,967
- Other debts +€19,419
up €19,419 (+61.6%), from €31,500 to €50,919
- Trade debts +€15,100
up €15,100 (+87.0%), from €17,358 to €32,459
Income statement
- Gross operating margin +€26,713
up €26,713 (+39.5%), from €67,604 to €94,317
- Taxes +€9,040
up €9,040 (+333%), from €2,714 to €11,754
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.
Result 2024
€6,640
Gross operating margin
+€26,713
Staff costs
-€591
Depreciation
-€770
Other operating charges
-€174
Financial income
-€373
Financial charges
-€825
Taxes
-€9,040
Result 2025
€21,580
raises the resultlowers the result
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.
From operations
-€25,812
Investment
-€50,068
Financing
+€100,074
Cash 2024
€10,080
From operations (derived)
-€25,812
Net result for the year
+€21,580
Depreciation
+€47,048
Stocks and contracts
-€1,850
Receivables within one year
-€130,622
Trade debts
+€15,100
Tax, wage and social debts
+€1,933
Other debts
+€19,419
Accrued charges and deferred income
+€1,579
Investment (derived)
-€50,068
Investment in fixed assets (net)
-€50,068
Financing
+€100,074
Debts after one year
+€120,146
Current portion of long-term debt
+€4,929
Contributions, distributions and other
-€25,000
Cash 2025
€34,274
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €448,346 | €608,032 | +€159,685 | +35.6% |
| Fixed assets | 21/28 | €428,132 | €431,152 | +€3,019 | +0.7% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €428,132 | €431,152 | +€3,019 | +0.7% |
| Land and buildings | 22 | €395,455 | €408,837 | +€13,382 | +3.4% |
| Plant, machinery and equipment | 23 | €16,552 | €14,892 | -€1,660 | -10.0% |
| Furniture and vehicles | 24 | €4,434 | €4,575 | +€142 | +3.2% |
| Leasing and similar rights | 25 | €11,691 | €2,848 | -€8,843 | -75.6% |
| Current assets | 29/58 | €20,214 | €176,880 | +€156,666 | +775% |
| Stocks and contracts in progress | 3 | €6,250 | €8,100 | +€1,850 | +29.6% |
| Stocks | 30/36 | €6,250 | €8,100 | +€1,850 | +29.6% |
| Amounts receivable within one year | 40/41 | €3,885 | €134,507 | +€130,622 | +3,362% |
| Trade receivables | 40 | €0 | €133,412 | +€133,412 | |
| Other amounts receivable | 41 | €3,885 | €1,094 | -€2,791 | -71.8% |
| Cash at bank and in hand | 54/58 | €10,080 | €34,274 | +€24,194 | +240% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €448,346 | €608,032 | +€159,685 | +35.6% |
| Equity | 10/15 | €54,717 | €51,297 | -€3,420 | -6.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €51,717 | €48,297 | -€3,420 | -6.6% |
| Distributable reserves | 133 | €51,717 | €48,297 | -€3,420 | -6.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €393,629 | €556,735 | +€163,106 | +41.4% |
| Amounts payable after more than one year | 17 | €295,821 | €415,967 | +€120,146 | +40.6% |
| Financial debts | 170/4 | €295,821 | €415,967 | +€120,146 | +40.6% |
| Amounts payable within one year | 42/48 | €97,808 | €139,189 | +€41,381 | +42.3% |
| Current portion of amounts payable after more than one year | 42 | €40,698 | €45,626 | +€4,929 | +12.1% |
| Trade debts | 44 | €17,358 | €32,459 | +€15,100 | +87.0% |
| Suppliers | 440/4 | €17,358 | €32,459 | +€15,100 | +87.0% |
| Taxes, remuneration and social security | 45 | €8,252 | €10,185 | +€1,933 | +23.4% |
| Taxes | 450/3 | €8,252 | €10,185 | +€1,933 | +23.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €31,500 | €50,919 | +€19,419 | +61.6% |
| Accrued charges and deferred income | 492/3 | - | €1,579 | +€1,579 | |
| Remuneration, social security and pensions | 62 | €874 | €1,465 | +€591 | +67.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,278 | €47,048 | +€770 | +1.7% |
| Other operating charges | 640/8 | €2,367 | €2,541 | +€174 | +7.4% |
| Gross operating margin | 9900 | €67,604 | €94,317 | +€26,713 | +39.5% |
| Operating profit (loss) | 9901 | €18,085 | €43,262 | +€25,177 | +139% |
| Financial income | 75/76B | €406 | €34 | -€373 | -91.7% |
| Recurring financial income | 75 | €406 | €34 | -€373 | -91.7% |
| Financial charges | 65/66B | €9,138 | €9,962 | +€825 | +9.0% |
| Recurring financial charges | 65 | €9,138 | €9,962 | +€825 | +9.0% |
| Profit (loss) for the period before taxes | 9903 | €9,353 | €33,333 | +€23,980 | +256% |
| Income taxes | 67/77 | €2,714 | €11,754 | +€9,040 | +333% |
| Profit (loss) for the period | 9904 | €6,640 | €21,580 | +€14,940 | +225% |
| Profit (loss) for the period to be appropriated | 9905 | €6,640 | €21,580 | +€14,940 | +225% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.