HORECA CONSULTING: 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
HORECA CONSULTING
NACE 56.111, Full-service restaurants
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€62,047
2024 · €65,076-€3,028
Equity
€97,198
2024 · €209,753-€112,555
Cash
€111,611
2024 · €34,830+€76,781
Balance sheet total
€1.8m
2024 · €2.0m-€130,545
Largest movements
Assets
- Tangible fixed assets -€104,785
down €104,785 (-5.9%), from €1.8m to €1.7m
of which Land and buildings: -€94,415
- Receivables after one year -€85,000
down €85,000 (-73.9%), from €115,000 to €30,000
- Cash +€76,781
up €76,781 (+220%), from €34,830 to €111,611
mainly Depreciation (+€113,904) and Receivables after one year (+€85,000)
- Current investments -€20,000
down €20,000 (-100%), from €20,000 to €0
Equity and liabilities
- Reserves -€112,555
down €112,555 (-62.6%), from €179,753 to €67,198
- Debts after one year -€91,169
down €91,169 (-5.8%), from €1.6m to €1.5m
- Short-term financial debts +€50,000
up €50,000, from €0 to €50,000
Income statement
- Gross operating margin +€86,888
up €86,888 (+16.9%), from €514,246 to €601,134
- Staff costs +€82,555
up €82,555 (+34.4%), from €240,254 to €322,809
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
€65,076
Gross operating margin
+€86,888
Staff costs
-€82,555
Depreciation
-€4,625
Other operating charges
-€1,208
Financial income
-€2,148
Financial charges
+€287
Taxes
+€333
Result 2025
€62,047
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
+€281,288
Investment
+€10,881
Financing
-€215,388
Cash 2024
€34,830
From operations (derived)
+€281,288
Net result for the year
+€62,047
Depreciation
+€113,904
Receivables after one year
+€85,000
Stocks and contracts
-€575
Receivables within one year
-€3,116
Deferred charges and accrued income
+€1,231
Trade debts
-€6,286
Tax, wage and social debts
+€19,080
Advances received
+€3,390
Other debts
+€6,605
Accrued charges and deferred income
+€7
Investment (derived)
+€10,881
Investment in fixed assets (net)
-€9,119
Current investments
+€20,000
Financing
-€215,388
Debts after one year
-€91,169
Current portion of long-term debt
+€383
Short-term financial debts
+€50,000
Contributions, distributions and other
-€174,602
Cash 2025
€111,611
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,978,704 | €1,848,159 | -€130,545 | -6.6% |
| Fixed assets | 21/28 | €1,780,885 | €1,676,101 | -€104,785 | -5.9% |
| Tangible fixed assets | 22/27 | €1,780,699 | €1,675,915 | -€104,785 | -5.9% |
| Land and buildings | 22 | €1,709,552 | €1,615,137 | -€94,415 | -5.5% |
| Plant, machinery and equipment | 23 | €35,420 | €30,299 | -€5,121 | -14.5% |
| Furniture and vehicles | 24 | €35,727 | €30,479 | -€5,249 | -14.7% |
| Financial fixed assets | 28 | €186 | €186 | = | 0.0% |
| Current assets | 29/58 | €197,818 | €172,058 | -€25,760 | -13.0% |
| Amounts receivable after more than one year | 29 | €115,000 | €30,000 | -€85,000 | -73.9% |
| Other amounts receivable | 291 | €115,000 | €30,000 | -€85,000 | -73.9% |
| Stocks and contracts in progress | 3 | €5,969 | €6,543 | +€575 | +9.6% |
| Stocks | 30/36 | €5,969 | €6,543 | +€575 | +9.6% |
| Amounts receivable within one year | 40/41 | €16,889 | €20,005 | +€3,116 | +18.4% |
| Trade receivables | 40 | €6,451 | €9,288 | +€2,837 | +44.0% |
| Other amounts receivable | 41 | €10,438 | €10,717 | +€279 | +2.7% |
| Current investments | 50/53 | €20,000 | €0 | -€20,000 | -100% |
| Cash at bank and in hand | 54/58 | €34,830 | €111,611 | +€76,781 | +220% |
| Deferred charges and accrued income | 490/1 | €5,130 | €3,899 | -€1,231 | -24.0% |
| Total equity and liabilities | 10/49 | €1,978,704 | €1,848,159 | -€130,545 | -6.6% |
| Equity | 10/15 | €209,753 | €97,198 | -€112,555 | -53.7% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €179,753 | €67,198 | -€112,555 | -62.6% |
| Distributable reserves | 133 | €179,753 | €67,198 | -€112,555 | -62.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,768,951 | €1,750,961 | -€17,990 | -1.0% |
| Amounts payable after more than one year | 17 | €1,574,413 | €1,483,244 | -€91,169 | -5.8% |
| Financial debts | 170/4 | €1,574,413 | €1,483,244 | -€91,169 | -5.8% |
| Amounts payable within one year | 42/48 | €194,527 | €267,699 | +€73,172 | +37.6% |
| Current portion of amounts payable after more than one year | 42 | €96,221 | €96,605 | +€383 | +0.4% |
| Financial debts | 43 | €0 | €50,000 | +€50,000 | |
| Credit institutions | 430/8 | €0 | €50,000 | +€50,000 | |
| Trade debts | 44 | €56,053 | €49,767 | -€6,286 | -11.2% |
| Suppliers | 440/4 | €56,053 | €49,767 | -€6,286 | -11.2% |
| Advances received on contracts in progress | 46 | €9 | €3,399 | +€3,390 | +37,665% |
| Taxes, remuneration and social security | 45 | €41,940 | €61,020 | +€19,080 | +45.5% |
| Taxes | 450/3 | €13,167 | €16,855 | +€3,688 | +28.0% |
| Remuneration and social security | 454/9 | €28,773 | €44,166 | +€15,392 | +53.5% |
| Other amounts payable | 47/48 | €304 | €6,908 | +€6,605 | +2,176% |
| Accrued charges and deferred income | 492/3 | €11 | €18 | +€7 | +63.6% |
| Remuneration, social security and pensions | 62 | €240,254 | €322,809 | +€82,555 | +34.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €109,279 | €113,904 | +€4,625 | +4.2% |
| Other operating charges | 640/8 | €4,480 | €5,688 | +€1,208 | +27.0% |
| Gross operating margin | 9900 | €514,246 | €601,134 | +€86,888 | +16.9% |
| Operating profit (loss) | 9901 | €160,233 | €158,734 | -€1,499 | -0.9% |
| Financial income | 75/76B | €3,547 | €1,398 | -€2,148 | -60.6% |
| Recurring financial income | 75 | €3,547 | €1,398 | -€2,148 | -60.6% |
| Financial charges | 65/66B | €78,752 | €78,466 | -€287 | -0.4% |
| Recurring financial charges | 65 | €78,752 | €78,466 | -€287 | -0.4% |
| Profit (loss) for the period before taxes | 9903 | €85,028 | €81,666 | -€3,361 | -4.0% |
| Income taxes | 67/77 | €19,952 | €19,619 | -€333 | -1.7% |
| Profit (loss) for the period | 9904 | €65,076 | €62,047 | -€3,028 | -4.7% |
| Profit (loss) for the period to be appropriated | 9905 | €65,076 | €62,047 | -€3,028 | -4.7% |
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 17 October 2026 via checked.be.