HILAL HORECA GROOTHANDEL: 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.
HILAL HORECA GROOTHANDEL
Largest movements
- Cash -€1.1m
down €1.1m (-89.7%), from €1.2m to €124,165
mainly Investment in fixed assets (net) (-€1.3m) and Current investments (-€987,615)
- Tangible fixed assets +€993,570
up €993,570 (+77.5%), from €1.3m to €2.3m
of which Land and buildings: +€600,713
- Current investments +€987,615
new in 2025: €987,615
- Receivables within one year -€249,095
down €249,095 (-76.2%), from €326,712 to €77,618
of which Trade receivables: -€237,219
- Other debts +€227,644
up €227,644 (+15.5%), from €1.5m to €1.7m
- Reserves +€220,684
up €220,684 (+30.9%), from €714,943 to €935,627
- Debts after one year +€127,864
up €127,864 (+38.1%), from €335,692 to €463,556
- Tax, wage and social debts +€45,066
up €45,066 (+371%), from €12,134 to €57,200
of which Taxes: +€39,327
- Current portion of long-term debt +€40,883
up €40,883 (+23.8%), from €171,601 to €212,484
- Gross operating margin +€374,710
up €374,710 (+83.2%), from €450,429 to €825,139
- Depreciation +€77,047
up €77,047 (+37.3%), from €206,409 to €283,455
- Staff costs +€74,841
up €74,841 (+425%), from €17,590 to €92,431
- Taxes +€39,923
up €39,923 (+107%), from €37,428 to €77,351
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 | €2,831,049 | €3,466,516 | +€635,466 | +22.4% |
| Fixed assets | 21/28 | €1,283,548 | €2,277,118 | +€993,570 | +77.4% |
| Tangible fixed assets | 22/27 | €1,282,298 | €2,275,868 | +€993,570 | +77.5% |
| Land and buildings | 22 | €974,152 | €1,574,865 | +€600,713 | +61.7% |
| Plant, machinery and equipment | 23 | €107,320 | €217,299 | +€109,979 | +102% |
| Furniture and vehicles | 24 | €192,678 | €483,705 | +€291,027 | +151% |
| Assets under construction and advance payments | 27 | €8,149 | €0 | -€8,149 | -100% |
| Financial fixed assets | 28 | €1,250 | €1,250 | = | 0.0% |
| Current assets | 29/58 | €1,547,501 | €1,189,398 | -€358,103 | -23.1% |
| Amounts receivable after more than one year | 29 | €15,262 | €0 | -€15,262 | -100% |
| Trade receivables | 290 | €15,262 | €0 | -€15,262 | -100% |
| Amounts receivable within one year | 40/41 | €326,712 | €77,618 | -€249,095 | -76.2% |
| Trade receivables | 40 | €243,018 | €5,798 | -€237,219 | -97.6% |
| Other amounts receivable | 41 | €83,695 | €71,819 | -€11,875 | -14.2% |
| Current investments | 50/53 | - | €987,615 | +€987,615 | |
| Cash at bank and in hand | 54/58 | €1,205,527 | €124,165 | -€1.1m | -89.7% |
| Total equity and liabilities | 10/49 | €2,831,049 | €3,466,516 | +€635,466 | +22.4% |
| Equity | 10/15 | €733,543 | €954,227 | +€220,684 | +30.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €714,943 | €935,627 | +€220,684 | +30.9% |
| Distributable reserves | 133 | €714,943 | €935,627 | +€220,684 | +30.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €2,097,506 | €2,512,289 | +€414,783 | +19.8% |
| Amounts payable after more than one year | 17 | €335,692 | €463,556 | +€127,864 | +38.1% |
| Financial debts | 170/4 | €335,692 | €463,556 | +€127,864 | +38.1% |
| Amounts payable within one year | 42/48 | €1,761,815 | €2,048,733 | +€286,918 | +16.3% |
| Current portion of amounts payable after more than one year | 42 | €171,601 | €212,484 | +€40,883 | +23.8% |
| Financial debts | 43 | €7,839 | €0 | -€7,839 | -100% |
| Credit institutions | 430/8 | €7,839 | €0 | -€7,839 | -100% |
| Trade debts | 44 | €102,031 | €83,196 | -€18,836 | -18.5% |
| Suppliers | 440/4 | €102,031 | €83,196 | -€18,836 | -18.5% |
| Taxes, remuneration and social security | 45 | €12,134 | €57,200 | +€45,066 | +371% |
| Taxes | 450/3 | €10,662 | €49,989 | +€39,327 | +369% |
| Remuneration and social security | 454/9 | €1,472 | €7,211 | +€5,739 | +390% |
| Other amounts payable | 47/48 | €1,468,210 | €1,695,854 | +€227,644 | +15.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €17,590 | €92,431 | +€74,841 | +425% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €206,409 | €283,455 | +€77,047 | +37.3% |
| Other operating charges | 640/8 | €59,514 | €58,343 | -€1,171 | -2.0% |
| Non-recurring operating charges | 66A | €0 | €16,675 | +€16,675 | |
| Gross operating margin | 9900 | €450,429 | €825,139 | +€374,710 | +83.2% |
| Operating profit (loss) | 9901 | €166,917 | €374,234 | +€207,317 | +124% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €17,417 | €16,200 | -€1,217 | -7.0% |
| Recurring financial charges | 65 | €17,417 | €16,200 | -€1,217 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €149,501 | €358,034 | +€208,533 | +139% |
| Income taxes | 67/77 | €37,428 | €77,351 | +€39,923 | +107% |
| Profit (loss) for the period | 9904 | €112,073 | €280,684 | +€168,610 | +150% |
| Profit (loss) for the period to be appropriated | 9905 | €112,073 | €280,684 | +€168,610 | +150% |
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 31 October 2026 via checked.be.