GEMINE 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.
GEMINE HORECA
Largest movements
- Tangible fixed assets -€27,829
down €27,829 (-3.7%), from €749,951 to €722,121
of which Land and buildings: -€18,525
- Receivables within one year +€27,787
up €27,787 (+138%), from €20,203 to €47,990
- Cash +€23,557
up €23,557 (+243%), from €9,675 to €33,232
mainly Depreciation (+€68,557) and Tax, wage and social debts (+€38,712)
- Stocks and contracts +€9,824
up €9,824 (+144%), from €6,834 to €16,658
- Deferred charges and accrued income +€9,135
up €9,135 (+1,031%), from €886 to €10,021
- Tax, wage and social debts +€38,712
up €38,712 (+120%), from €32,182 to €70,894
of which Remuneration and social security: +€37,448
- Debts after one year -€32,474
down €32,474 (-4.8%), from €675,898 to €643,424
- Profit (loss) carried forward +€26,898
up €26,898 (+14.1%), from -€191,218 to -€164,320
- Trade debts +€8,968
up €8,968 (+10.7%), from €83,749 to €92,717
- Gross operating margin +€96,573
up €96,573 (+160%), from €60,520 to €157,093
- Staff costs +€23,335
up €23,335 (+111%), from €21,034 to €44,369
- Depreciation +€4,746
up €4,746 (+7.4%), from €63,811 to €68,557
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 | €788,912 | €831,386 | +€42,474 | +5.4% |
| Fixed assets | 21/28 | €751,314 | €723,484 | -€27,829 | -3.7% |
| Tangible fixed assets | 22/27 | €749,951 | €722,121 | -€27,829 | -3.7% |
| Land and buildings | 22 | €538,612 | €520,087 | -€18,525 | -3.4% |
| Plant, machinery and equipment | 23 | €140,790 | €142,797 | +€2,007 | +1.4% |
| Furniture and vehicles | 24 | €8,764 | €5,850 | -€2,914 | -33.3% |
| Leasing and similar rights | 25 | €14,241 | €9,550 | -€4,691 | -32.9% |
| Other tangible fixed assets | 26 | €47,543 | €43,838 | -€3,705 | -7.8% |
| Financial fixed assets | 28 | €1,363 | €1,363 | = | 0.0% |
| Current assets | 29/58 | €37,599 | €107,902 | +€70,303 | +187% |
| Stocks and contracts in progress | 3 | €6,834 | €16,658 | +€9,824 | +144% |
| Stocks | 30/36 | €6,834 | €16,658 | +€9,824 | +144% |
| Amounts receivable within one year | 40/41 | €20,203 | €47,990 | +€27,787 | +138% |
| Trade receivables | 40 | €20,203 | €47,990 | +€27,787 | +138% |
| Cash at bank and in hand | 54/58 | €9,675 | €33,232 | +€23,557 | +243% |
| Deferred charges and accrued income | 490/1 | €886 | €10,021 | +€9,135 | +1,031% |
| Total equity and liabilities | 10/49 | €788,912 | €831,386 | +€42,474 | +5.4% |
| Equity | 10/15 | -€35,690 | -€8,792 | +€26,898 | +75.4% |
| Contributions | 10/11 | €117,760 | €117,760 | = | 0.0% |
| Contributions outside capital | 11 | €117,760 | €117,760 | = | 0.0% |
| Share premium | 1100/10 | €117,760 | €117,760 | = | 0.0% |
| Reserves | 13 | €5,105 | €5,105 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,105 | €5,105 | = | 0.0% |
| Legal reserve | 130 | €5,105 | €5,105 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€191,218 | -€164,320 | +€26,898 | +14.1% |
| Investment grants | 15 | €32,664 | €32,664 | = | 0.0% |
| Amounts payable | 17/49 | €824,602 | €840,178 | +€15,576 | +1.9% |
| Amounts payable after more than one year | 17 | €675,898 | €643,424 | -€32,474 | -4.8% |
| Financial debts | 170/4 | €675,898 | €643,424 | -€32,474 | -4.8% |
| Amounts payable within one year | 42/48 | €145,538 | €188,946 | +€43,408 | +29.8% |
| Current portion of amounts payable after more than one year | 42 | €29,400 | €24,874 | -€4,525 | -15.4% |
| Trade debts | 44 | €83,749 | €92,717 | +€8,968 | +10.7% |
| Suppliers | 440/4 | €83,749 | €92,717 | +€8,968 | +10.7% |
| Taxes, remuneration and social security | 45 | €32,182 | €70,894 | +€38,712 | +120% |
| Taxes | 450/3 | €5,172 | €6,436 | +€1,264 | +24.4% |
| Remuneration and social security | 454/9 | €27,010 | €64,459 | +€37,448 | +139% |
| Other amounts payable | 47/48 | €208 | €460 | +€252 | +121% |
| Accrued charges and deferred income | 492/3 | €3,166 | €7,808 | +€4,643 | +147% |
| Remuneration, social security and pensions | 62 | €21,034 | €44,369 | +€23,335 | +111% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,811 | €68,557 | +€4,746 | +7.4% |
| Other operating charges | 640/8 | €3,630 | €3,740 | +€110 | +3.0% |
| Gross operating margin | 9900 | €60,520 | €157,093 | +€96,573 | +160% |
| Operating profit (loss) | 9901 | -€27,955 | €40,427 | +€68,382 | |
| Financial income | 75/76B | €833 | €120 | -€713 | -85.6% |
| Recurring financial income | 75 | €833 | €120 | -€713 | -85.6% |
| Financial charges | 65/66B | €14,637 | €13,239 | -€1,398 | -9.6% |
| Recurring financial charges | 65 | €14,637 | €13,239 | -€1,398 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | -€41,760 | €27,308 | +€69,068 | |
| Income taxes | 67/77 | €243 | €410 | +€167 | +68.6% |
| Profit (loss) for the period | 9904 | -€42,003 | €26,898 | +€68,901 | |
| Profit (loss) for the period to be appropriated | 9905 | -€42,003 | €26,898 | +€68,901 |
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 19 October 2026 via checked.be.