HORECA LOGISTICS SERVICES SUD: 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 LOGISTICS SERVICES SUD
NACE 46.349, Wholesale of beverages, general range
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€342,739
2024 · €276,409+€66,330
Equity
€7.1m
2024 · €6.7m+€342,739
Cash
€2.7m
2024 · €1.5m+€1.2m
Balance sheet total
€9.9m
2024 · €9.9m-€42,081
Largest movements
Assets
- Cash +€1.2m
up €1.2m (+76.2%), from €1.5m to €2.7m
mainly Current investments (+€900,000) and Depreciation (+€438,390)
- Current investments -€900,000
no longer reported in 2025 (was €900,000)
- Receivables after one year -€201,233
down €201,233 (-24.4%), from €824,312 to €623,080
- Tangible fixed assets -€139,903
down €139,903 (-11.4%), from €1.2m to €1.1m
of which Furniture and vehicles: -€104,650
- Financial fixed assets +€123,755
up €123,755 (+43.5%), from €284,799 to €408,554
of which Other financial fixed assets: +€123,755
Equity and liabilities
- Profit (loss) carried forward +€317,948
up €317,948 (+7.3%), from €4.3m to €4.7m
- Trade debts -€294,646
down €294,646 (-11.7%), from €2.5m to €2.2m
Income statement
- Services and other goods -€367,547
down €367,547 (-12.1%), from €3.0m to €2.7m
- Turnover -€309,833
down €309,833 (-1.8%), from €17.4m to €17.1m
- Write-downs -€200,941
down €200,941, from €107,619 to -€93,322
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
€276,409
Turnover
-€309,833
Other operating income
-€50,984
Goods and materials
-€11,208
Services and other goods
+€367,547
Staff costs
-€44,355
Depreciation
-€14,934
Write-downs
+€200,941
Other operating charges
-€109,156
Financial income
+€75,100
Financial charges
-€1,911
Taxes
-€34,877
Result 2025
€342,739
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
+€801,324
Investment
+€452,117
Financing
-€90,366
Cash 2024
€1.5m
From operations (derived)
+€801,324
Net result for the year
+€342,739
Depreciation
+€438,390
Receivables after one year
+€201,233
Stocks and contracts
+€58,375
Receivables within one year
+€56,436
Deferred charges and accrued income
-€1,395
Trade debts
-€294,646
Tax, wage and social debts
+€2,594
Accrued charges and deferred income
-€2,402
Investment (derived)
+€452,117
Investment in fixed assets (net)
-€447,883
Current investments
+€900,000
Financing
-€90,366
Debts after one year
-€90,366
Cash 2025
€2.7m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,928,532 | €9,886,452 | -€42,081 | -0.4% |
| Fixed assets | 21/28 | €1,748,394 | €1,757,887 | +€9,493 | +0.5% |
| Intangible fixed assets | 21 | €241,044 | €266,685 | +€25,641 | +10.6% |
| Tangible fixed assets | 22/27 | €1,222,551 | €1,082,647 | -€139,903 | -11.4% |
| Plant, machinery and equipment | 23 | €6,631 | €5,235 | -€1,396 | -21.0% |
| Furniture and vehicles | 24 | €761,097 | €656,447 | -€104,650 | -13.7% |
| Other tangible fixed assets | 26 | €454,823 | €420,965 | -€33,858 | -7.4% |
| Financial fixed assets | 28 | €284,799 | €408,554 | +€123,755 | +43.5% |
| Affiliated companies | 280/1 | €265,229 | €265,229 | = | 0.0% |
| Participating interests | 280 | €265,229 | €265,229 | = | 0.0% |
| Other financial fixed assets | 284/8 | €19,570 | €143,325 | +€123,755 | +632% |
| Amounts receivable and cash guarantees | 285/8 | €19,570 | €143,325 | +€123,755 | +632% |
| Current assets | 29/58 | €8,180,138 | €8,128,565 | -€51,574 | -0.6% |
| Amounts receivable after more than one year | 29 | €824,312 | €623,080 | -€201,233 | -24.4% |
| Trade receivables | 290 | €824,312 | €623,080 | -€201,233 | -24.4% |
| Stocks and contracts in progress | 3 | €1,304,370 | €1,245,995 | -€58,375 | -4.5% |
| Stocks | 30/36 | €1,304,370 | €1,245,995 | -€58,375 | -4.5% |
| Goods purchased for resale | 34 | €1,304,370 | €1,245,995 | -€58,375 | -4.5% |
| Amounts receivable within one year | 40/41 | €3,617,207 | €3,560,771 | -€56,436 | -1.6% |
| Trade receivables | 40 | €2,773,912 | €2,923,693 | +€149,781 | +5.4% |
| Other amounts receivable | 41 | €843,295 | €637,078 | -€206,217 | -24.5% |
| Current investments | 50/53 | €900,000 | - | -€900,000 | |
| Other investments | 51/53 | €900,000 | - | -€900,000 | |
| Cash at bank and in hand | 54/58 | €1,526,647 | €2,689,722 | +€1.2m | +76.2% |
| Deferred charges and accrued income | 490/1 | €7,602 | €8,997 | +€1,395 | +18.3% |
| Total equity and liabilities | 10/49 | €9,928,532 | €9,886,452 | -€42,081 | -0.4% |
| Equity | 10/15 | €6,738,428 | €7,081,167 | +€342,739 | +5.1% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Capital | 10 | €120,000 | €120,000 | = | 0.0% |
| Issued capital | 100 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €2,281,576 | €2,306,367 | +€24,791 | +1.1% |
| Non-distributable reserves | 130/1 | €12,000 | €12,000 | = | 0.0% |
| Legal reserve | 130 | €12,000 | €12,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €269,576 | €294,367 | +€24,791 | +9.2% |
| Distributable reserves | 133 | €2,000,000 | €2,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,336,852 | €4,654,800 | +€317,948 | +7.3% |
| Amounts payable | 17/49 | €3,190,105 | €2,805,285 | -€384,820 | -12.1% |
| Amounts payable after more than one year | 17 | €165,218 | €74,852 | -€90,366 | -54.7% |
| Financial debts | 170/4 | €129,294 | €38,028 | -€91,266 | -70.6% |
| Credit institutions | 173 | €129,294 | €38,028 | -€91,266 | -70.6% |
| Other amounts payable | 178/9 | €35,925 | €36,825 | +€900 | +2.5% |
| Amounts payable within one year | 42/48 | €3,022,014 | €2,729,963 | -€292,052 | -9.7% |
| Current portion of amounts payable after more than one year | 42 | €91,266 | €91,266 | = | 0.0% |
| Trade debts | 44 | €2,524,779 | €2,230,133 | -€294,646 | -11.7% |
| Suppliers | 440/4 | €2,524,779 | €2,230,133 | -€294,646 | -11.7% |
| Taxes, remuneration and social security | 45 | €405,970 | €408,564 | +€2,594 | +0.6% |
| Taxes | 450/3 | €72,619 | €135,492 | +€62,873 | +86.6% |
| Remuneration and social security | 454/9 | €333,351 | €273,072 | -€60,279 | -18.1% |
| Accrued charges and deferred income | 492/3 | €2,872 | €470 | -€2,402 | -83.6% |
| Operating income | 70/76A | €19,871,950 | €19,511,133 | -€360,817 | -1.8% |
| Turnover | 70 | €17,401,352 | €17,091,520 | -€309,833 | -1.8% |
| Other operating income | 74 | €2,470,598 | €2,419,613 | -€50,984 | -2.1% |
| Operating charges | 60/66A | €19,625,559 | €19,236,724 | -€388,835 | -2.0% |
| Goods for resale, raw materials and consumables | 60 | €13,572,045 | €13,583,253 | +€11,208 | +0.1% |
| Purchases | 600/8 | €13,685,953 | €13,513,645 | -€172,308 | -1.3% |
| Change in stocks: decrease (increase) | 609 | -€113,908 | €69,608 | +€183,516 | |
| Services and other goods | 61 | €3,043,233 | €2,675,685 | -€367,547 | -12.1% |
| Remuneration, social security and pensions | 62 | €2,409,241 | €2,453,597 | +€44,355 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €423,456 | €438,390 | +€14,934 | +3.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €107,619 | -€93,322 | -€200,941 | |
| Other operating charges | 640/8 | €69,965 | €179,120 | +€109,156 | +156% |
| Operating profit (loss) | 9901 | €246,391 | €274,409 | +€28,018 | +11.4% |
| Financial income | 75/76B | €139,861 | €214,961 | +€75,100 | +53.7% |
| Recurring financial income | 75 | €139,861 | €214,961 | +€75,100 | +53.7% |
| Income from financial fixed assets | 750 | €27,312 | €16,542 | -€10,770 | -39.4% |
| Income from current assets | 751 | €59,974 | €129,824 | +€69,850 | +116% |
| Other financial income | 752/9 | €52,576 | €68,595 | +€16,019 | +30.5% |
| Financial charges | 65/66B | €19,650 | €21,561 | +€1,911 | +9.7% |
| Recurring financial charges | 65 | €19,650 | €21,561 | +€1,911 | +9.7% |
| Debt charges | 650 | €11,262 | €15,486 | +€4,224 | +37.5% |
| Other financial charges | 652/9 | €8,388 | €6,075 | -€2,313 | -27.6% |
| Profit (loss) for the period before taxes | 9903 | €366,603 | €467,809 | +€101,207 | +27.6% |
| Income taxes | 67/77 | €90,194 | €125,071 | +€34,877 | +38.7% |
| Taxes | 670/3 | €90,194 | €125,176 | +€34,982 | +38.8% |
| Tax adjustments and reversals of tax provisions | 77 | - | €105 | +€105 | |
| Profit (loss) for the period | 9904 | €276,409 | €342,739 | +€66,330 | +24.0% |
| Transfer to tax-exempt reserves | 689 | €52,330 | €24,791 | -€27,538 | -52.6% |
| Profit (loss) for the period to be appropriated | 9905 | €224,079 | €317,948 | +€93,869 | +41.9% |
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 30 October 2026 via checked.be.