DS 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.
DS HORECA
Largest movements
- Financial fixed assets -€51,691
no longer reported in 2025 (was €51,691)
- Tangible fixed assets -€11,025
down €11,025 (-74.3%), from €14,830 to €3,805
of which Other tangible fixed assets: -€10,428
- Receivables within one year +€7,564
up €7,564 (+22.7%), from €33,280 to €40,844
of which Trade receivables: +€7,572
- Cash -€3,623
down €3,623 (-3.9%), from €91,742 to €88,118
mainly Net result for the year (-€45,476) and Trade debts (-€13,766)
- Profit (loss) carried forward -€45,476
down €45,476 (-49.0%), from -€92,790 to -€138,266
- Trade debts -€13,766
down €13,766 (-17.1%), from €80,484 to €66,718
- Financial charges +€51,691
up €51,691 (+11,705%), from €442 to €52,133
of which Non-recurring financial charges: +€51,691
- Depreciation -€19,816
down €19,816 (-64.3%), from €30,841 to €11,025
- Gross operating margin -€3,853
down €3,853 (-17.5%), from €22,029 to €18,176
- Other operating charges -€456
down €456 (-48.0%), from €950 to €494
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 | €192,342 | €133,317 | -€59,024 | -30.7% |
| Fixed assets | 21/28 | €66,521 | €3,805 | -€62,716 | -94.3% |
| Tangible fixed assets | 22/27 | €14,830 | €3,805 | -€11,025 | -74.3% |
| Furniture and vehicles | 24 | €1,738 | €1,142 | -€597 | -34.3% |
| Other tangible fixed assets | 26 | €13,092 | €2,664 | -€10,428 | -79.7% |
| Financial fixed assets | 28 | €51,691 | - | -€51,691 | |
| Current assets | 29/58 | €125,821 | €129,512 | +€3,692 | +2.9% |
| Amounts receivable within one year | 40/41 | €33,280 | €40,844 | +€7,564 | +22.7% |
| Trade receivables | 40 | €33,272 | €40,844 | +€7,572 | +22.8% |
| Other amounts receivable | 41 | €8 | - | -€8 | |
| Cash at bank and in hand | 54/58 | €91,742 | €88,118 | -€3,623 | -3.9% |
| Deferred charges and accrued income | 490/1 | €799 | €550 | -€249 | -31.1% |
| Total equity and liabilities | 10/49 | €192,342 | €133,317 | -€59,024 | -30.7% |
| Equity | 10/15 | -€1,079 | -€46,554 | -€45,476 | -4,216% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €51,711 | €51,711 | = | 0.0% |
| Distributable reserves | 133 | €51,711 | €51,711 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€92,790 | -€138,266 | -€45,476 | -49.0% |
| Amounts payable | 17/49 | €193,420 | €179,872 | -€13,549 | -7.0% |
| Amounts payable after more than one year | 17 | €101,269 | €101,269 | = | 0.0% |
| Other amounts payable | 178/9 | €101,269 | €101,269 | = | 0.0% |
| Amounts payable within one year | 42/48 | €91,151 | €77,602 | -€13,549 | -14.9% |
| Trade debts | 44 | €80,484 | €66,718 | -€13,766 | -17.1% |
| Suppliers | 440/4 | €80,484 | €66,718 | -€13,766 | -17.1% |
| Taxes, remuneration and social security | 45 | €973 | €1,190 | +€217 | +22.4% |
| Taxes | 450/3 | €973 | €1,190 | +€217 | +22.4% |
| Other amounts payable | 47/48 | €9,694 | €9,694 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,841 | €11,025 | -€19,816 | -64.3% |
| Other operating charges | 640/8 | €950 | €494 | -€456 | -48.0% |
| Gross operating margin | 9900 | €22,029 | €18,176 | -€3,853 | -17.5% |
| Operating profit (loss) | 9901 | -€9,762 | €6,657 | +€16,419 | |
| Financial charges | 65/66B | €442 | €52,133 | +€51,691 | +11,705% |
| Recurring financial charges | 65 | €442 | €442 | +€0 | +0.1% |
| Non-recurring financial charges | 66B | - | €51,691 | +€51,691 | |
| Profit (loss) for the period before taxes | 9903 | -€10,203 | -€45,476 | -€35,272 | -346% |
| Profit (loss) for the period | 9904 | -€10,203 | -€45,476 | -€35,272 | -346% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,203 | -€45,476 | -€35,272 | -346% |
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 15 October 2026 via checked.be.