GS HORECA SERVICES: what changed
Two fiscal 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.
GS HORECA SERVICES
Largest movements
- Cash +€118,439
up €118,439 (+49.8%), from €237,856 to €356,295
mainly Net result for the year (+€135,445) and Receivables after one year (+€25,000)
- Tangible fixed assets +€77,114
up €77,114 (+667.4%), from €11,554 to €88,667
of which Other tangible fixed assets: +€58,085
- Receivables after one year -€25,000
down €25,000 (-38.5%), from €65,000 to €40,000
- Receivables within one year -€7,345
down €7,345 (-44.6%), from €16,472 to €9,126
of which Trade receivables: -€8,618
- Reserves +€135,445
new in 2025: €135,445
- Tax, wage and social debts +€23,114
up €23,114 (+24.9%), from €92,944 to €116,059
of which Taxes: +€24,968
- Gross operating margin +€80,394
up €80,394 (+28.7%), from €280,136 to €360,529
- Staff costs +€25,393
up €25,393 (+21.9%), from €115,752 to €141,145
- Taxes +€24,950
up €24,950 (+69.5%), from €35,900 to €60,850
- Depreciation +€12,911
up €12,911 (+695.1%), from €1,857 to €14,769
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.
Cash bridge derived
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 | €337,605 | €504,706 | +€167,101 | +49.5% |
| Fixed assets | 21/28 | €11,917 | €89,030 | +€77,114 | +647.1% |
| Tangible fixed assets | 22/27 | €11,554 | €88,667 | +€77,114 | +667.4% |
| Plant, machinery and equipment | 23 | €2,990 | €14,343 | +€11,353 | +379.7% |
| Furniture and vehicles | 24 | €8,564 | €16,239 | +€7,675 | +89.6% |
| Other tangible fixed assets | 26 | - | €58,085 | +€58,085 | |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €325,688 | €415,676 | +€89,988 | +27.6% |
| Amounts receivable after more than one year | 29 | €65,000 | €40,000 | -€25,000 | -38.5% |
| Other amounts receivable | 291 | €65,000 | €40,000 | -€25,000 | -38.5% |
| Stocks and contracts in progress | 3 | €6,018 | €9,715 | +€3,697 | +61.4% |
| Stocks | 30/36 | €6,018 | €9,715 | +€3,697 | +61.4% |
| Amounts receivable within one year | 40/41 | €16,472 | €9,126 | -€7,345 | -44.6% |
| Trade receivables | 40 | €15,572 | €6,954 | -€8,618 | -55.3% |
| Other amounts receivable | 41 | €900 | €2,173 | +€1,273 | +141.4% |
| Cash at bank and in hand | 54/58 | €237,856 | €356,295 | +€118,439 | +49.8% |
| Deferred charges and accrued income | 490/1 | €341 | €539 | +€198 | +57.9% |
| Total equity and liabilities | 10/49 | €337,605 | €504,706 | +€167,101 | +49.5% |
| Equity | 10/15 | €226,460 | €361,905 | +€135,445 | +59.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | - | €135,445 | +€135,445 | |
| Distributable reserves | 133 | - | €135,445 | +€135,445 | |
| Profit (loss) carried forward | 14 | €224,460 | €224,460 | = | 0.0% |
| Amounts payable | 17/49 | €111,145 | €142,801 | +€31,656 | +28.5% |
| Amounts payable within one year | 42/48 | €111,145 | €142,801 | +€31,656 | +28.5% |
| Trade debts | 44 | €8,460 | €13,130 | +€4,670 | +55.2% |
| Suppliers | 440/4 | €8,460 | €13,130 | +€4,670 | +55.2% |
| Taxes, remuneration and social security | 45 | €92,944 | €116,059 | +€23,114 | +24.9% |
| Taxes | 450/3 | €80,242 | €105,211 | +€24,968 | +31.1% |
| Remuneration and social security | 454/9 | €12,702 | €10,848 | -€1,854 | -14.6% |
| Other amounts payable | 47/48 | €9,740 | €13,612 | +€3,872 | +39.8% |
| Remuneration, social security and pensions | 62 | €115,752 | €141,145 | +€25,393 | +21.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,857 | €14,769 | +€12,911 | +695.1% |
| Other operating charges | 640/8 | €5,706 | €3,420 | -€2,286 | -40.1% |
| Gross operating margin | 9900 | €280,136 | €360,529 | +€80,394 | +28.7% |
| Operating profit (loss) | 9901 | €156,820 | €201,196 | +€44,376 | +28.3% |
| Financial income | 75/76B | €2,275 | €1,918 | -€357 | -15.7% |
| Recurring financial income | 75 | €2,275 | €1,918 | -€357 | -15.7% |
| Financial charges | 65/66B | €5,000 | €6,819 | +€1,819 | +36.4% |
| Recurring financial charges | 65 | €5,000 | €6,819 | +€1,819 | +36.4% |
| Profit (loss) for the period before taxes | 9903 | €154,095 | €196,295 | +€42,200 | +27.4% |
| Income taxes | 67/77 | €35,900 | €60,850 | +€24,950 | +69.5% |
| Profit (loss) for the period | 9904 | €118,196 | €135,445 | +€17,249 | +14.6% |
| Profit (loss) for the period to be appropriated | 9905 | €118,196 | €135,445 | +€17,249 | +14.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.