Horeca Forma Brussel: what changed
Horeca Forma Brussel
Largest movements
- Tangible fixed assets -€168,477
down €168,477 (-4.3%), from €3.9m to €3.8m
of which Land and buildings: -€184,576
- Cash -€158,605
down €158,605 (-27.6%), from €574,961 to €416,356
mainly Contributions, distributions and other (-€170,409) and Debts within one year (-€78,489)
- Receivables within one year +€76,277
up €76,277 (+32.6%), from €234,165 to €310,442
of which Other amounts receivable: +€70,049
- Investment grants -€170,409
down €170,409 (-5.4%), from €3.2m to €3.0m
- Debts within one year -€78,489
down €78,489 (-6.6%), from €1.2m to €1.1m
- Turnover +€409,501
up €409,501 (+10.0%), from €4.1m to €4.5m
- Purchases and services +€267,663
up €267,663 (+12.9%), from €2.1m to €2.3m
- Gross operating margin +€141,838
up €141,838 (+7.0%), from €2.0m to €2.2m
- Staff costs +€127,248
up €127,248 (+7.0%), from €1.8m to €2.0m
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,789,298 | €4,540,351 | -€248,947 | -5.2% |
| Fixed assets | 21/28 | €3,940,339 | €3,779,004 | -€161,335 | -4.1% |
| Tangible fixed assets | 22/27 | €3,925,389 | €3,756,912 | -€168,477 | -4.3% |
| Land and buildings | 22 | €3,875,710 | €3,691,134 | -€184,576 | -4.8% |
| Plant, machinery and equipment | 23 | €43,637 | €61,418 | +€17,781 | +40.7% |
| Furniture and vehicles | 24 | €6,042 | €4,360 | -€1,682 | -27.8% |
| Financial fixed assets | 28 | €14,950 | €22,092 | +€7,142 | +47.8% |
| Current assets | 29/58 | €848,959 | €761,347 | -€87,612 | -10.3% |
| Amounts receivable within one year | 40/41 | €234,165 | €310,442 | +€76,277 | +32.6% |
| Trade receivables | 40 | €10,216 | €16,444 | +€6,228 | +61.0% |
| Other amounts receivable | 41 | €223,949 | €293,998 | +€70,049 | +31.3% |
| Cash at bank and in hand | 54/58 | €574,961 | €416,356 | -€158,605 | -27.6% |
| Deferred charges and accrued income | 490/1 | €39,833 | €34,549 | -€5,284 | -13.3% |
| Total equity and liabilities | 10/49 | €4,789,298 | €4,540,351 | -€248,947 | -5.2% |
| Equity | 10/15 | €3,599,430 | €3,429,021 | -€170,409 | -4.7% |
| Contributions | 10/11 | €423,231 | €423,231 | = | 0.0% |
| Capital | 10 | €423,231 | €423,231 | = | 0.0% |
| Investment grants | 15 | €3,176,199 | €3,005,790 | -€170,409 | -5.4% |
| Amounts payable | 17/49 | €1,189,868 | €1,111,330 | -€78,538 | -6.6% |
| Amounts payable within one year | 42/48 | €1,189,597 | €1,111,108 | -€78,489 | -6.6% |
| Trade debts | 44 | €668,212 | €708,287 | +€40,075 | +6.0% |
| Suppliers | 440/4 | €668,212 | €708,287 | +€40,075 | +6.0% |
| Taxes, remuneration and social security | 45 | €253,695 | €233,570 | -€20,125 | -7.9% |
| Taxes | 450/3 | €75,643 | €40,583 | -€35,060 | -46.3% |
| Remuneration and social security | 454/9 | €178,052 | €192,987 | +€14,935 | +8.4% |
| Accrued charges and deferred income | 492/3 | €271 | €222 | -€49 | -18.1% |
| Turnover | 70 | €4,107,573 | €4,517,074 | +€409,501 | +10.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €2,080,253 | €2,347,916 | +€267,663 | +12.9% |
| Remuneration, social security and pensions | 62 | €1,828,361 | €1,955,609 | +€127,248 | +7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €203,486 | €201,270 | -€2,216 | -1.1% |
| Other operating charges | 640/8 | €12,603 | €10,671 | -€1,932 | -15.3% |
| Gross operating margin | 9900 | €2,027,320 | €2,169,158 | +€141,838 | +7.0% |
| Operating profit (loss) | 9901 | -€17,130 | €1,608 | +€18,738 | |
| Financial income | 75/76B | €17,630 | €0 | -€17,630 | -100% |
| Recurring financial income | 75 | €17,630 | €0 | -€17,630 | -100% |
| Non-recurring financial income | 76B | €17,630 | €0 | -€17,630 | -100% |
| Financial charges | 65/66B | €500 | €1,608 | +€1,108 | +222% |
| Recurring financial charges | 65 | €500 | €1,608 | +€1,108 | +222% |
| Profit (loss) for the period before taxes | 9903 | €0 | €0 | = | |
| Profit (loss) for the period | 9904 | €0 | €0 | = | |
| Profit (loss) for the period to be appropriated | 9905 | €0 | €0 | = |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.