Horeca Partners: 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.
Horeca Partners
Largest movements
- Cash +€49,196
up €49,196 (+79.7%), from €61,762 to €110,958
mainly Net result for the year (+€33,772) and Other debts (+€30,010)
- Deferred charges and accrued income -€16,571
down €16,571 (-80.0%), from €20,719 to €4,148
- Receivables within one year +€4,987
up €4,987 (+6.8%), from €72,997 to €77,984
of which Trade receivables: +€13,268
- Other debts +€30,010
up €30,010 (+1,647%), from €1,822 to €31,832
- Tax, wage and social debts +€6,132
up €6,132 (+60.2%), from €10,189 to €16,321
of which Taxes: +€5,853
- Trade debts -€3,891
down €3,891 (-8.9%), from €43,511 to €39,620
- Profit (loss) carried forward +€3,772
new in 2025: €3,772
- Gross operating margin +€73,820
up €73,820 (+267%), from €27,599 to €101,419
- Staff costs +€3,640
up €3,640 (+6.4%), from €56,990 to €60,630
- Other operating charges -€3,286
down €3,286 (-58.7%), from €5,601 to €2,315
- Depreciation +€1,231
up €1,231 (+248%), from €496 to €1,727
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 | €161,801 | €197,686 | +€35,885 | +22.2% |
| Fixed assets | 21/28 | €6,323 | €4,596 | -€1,727 | -27.3% |
| Intangible fixed assets | 21 | €6,205 | €4,567 | -€1,639 | -26.4% |
| Tangible fixed assets | 22/27 | €117 | €29 | -€88 | -75.0% |
| Furniture and vehicles | 24 | €117 | €29 | -€88 | -75.0% |
| Current assets | 29/58 | €155,478 | €193,090 | +€37,612 | +24.2% |
| Amounts receivable within one year | 40/41 | €72,997 | €77,984 | +€4,987 | +6.8% |
| Trade receivables | 40 | €62,551 | €75,819 | +€13,268 | +21.2% |
| Other amounts receivable | 41 | €10,447 | €2,166 | -€8,281 | -79.3% |
| Cash at bank and in hand | 54/58 | €61,762 | €110,958 | +€49,196 | +79.7% |
| Deferred charges and accrued income | 490/1 | €20,719 | €4,148 | -€16,571 | -80.0% |
| Total equity and liabilities | 10/49 | €161,801 | €197,686 | +€35,885 | +22.2% |
| Equity | 10/15 | €106,109 | €109,881 | +€3,772 | +3.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €87,509 | €87,509 | = | 0.0% |
| Distributable reserves | 133 | €87,509 | €87,509 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €3,772 | +€3,772 | |
| Amounts payable | 17/49 | €55,692 | €87,805 | +€32,113 | +57.7% |
| Amounts payable within one year | 42/48 | €55,522 | €87,773 | +€32,251 | +58.1% |
| Trade debts | 44 | €43,511 | €39,620 | -€3,891 | -8.9% |
| Suppliers | 440/4 | €43,511 | €39,620 | -€3,891 | -8.9% |
| Taxes, remuneration and social security | 45 | €10,189 | €16,321 | +€6,132 | +60.2% |
| Taxes | 450/3 | €3,349 | €9,202 | +€5,853 | +175% |
| Remuneration and social security | 454/9 | €6,840 | €7,119 | +€279 | +4.1% |
| Other amounts payable | 47/48 | €1,822 | €31,832 | +€30,010 | +1,647% |
| Accrued charges and deferred income | 492/3 | €170 | €32 | -€137 | -80.9% |
| Remuneration, social security and pensions | 62 | €56,990 | €60,630 | +€3,640 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €496 | €1,727 | +€1,231 | +248% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,350 | €3,000 | +€650 | +27.7% |
| Other operating charges | 640/8 | €5,601 | €2,315 | -€3,286 | -58.7% |
| Gross operating margin | 9900 | €27,599 | €101,419 | +€73,820 | +267% |
| Operating profit (loss) | 9901 | -€37,837 | €33,748 | +€71,585 | |
| Financial income | 75/76B | €729 | €239 | -€490 | -67.2% |
| Recurring financial income | 75 | €729 | €239 | -€490 | -67.2% |
| Financial charges | 65/66B | €330 | €216 | -€115 | -34.7% |
| Recurring financial charges | 65 | €330 | €216 | -€115 | -34.7% |
| Profit (loss) for the period before taxes | 9903 | -€37,438 | €33,772 | +€71,210 | |
| Profit (loss) for the period | 9904 | -€37,438 | €33,772 | +€71,210 | |
| Profit (loss) for the period to be appropriated | 9905 | -€37,438 | €33,772 | +€71,210 |
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 24 October 2026 via checked.be.