HORECA POWER: 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 POWER
Largest movements
- Cash +€99,759
up €99,759 (+344%), from €28,978 to €128,738
mainly Receivables after one year (+€80,000) and Net result for the year (+€37,722)
- Receivables after one year -€80,000
down €80,000 (-100%), from €80,000 to €0
- Intangible fixed assets +€64,750
new in 2025: €64,750
- Receivables within one year -€20,462
down €20,462 (-27.1%), from €75,424 to €54,962
of which Trade receivables: -€69,908
- Tangible fixed assets +€14,530
up €14,530 (+81.3%), from €17,877 to €32,408
of which Plant, machinery and equipment: +€12,797
- Reserves +€37,722
up €37,722 (+24.9%), from €151,756 to €189,478
of which Distributable reserves: +€37,722
- Tax, wage and social debts +€26,913
up €26,913 (+275%), from €9,781 to €36,694
of which Remuneration and social security: +€18,532
- Trade debts +€21,917
up €21,917 (+175%), from €12,504 to €34,421
- Other debts -€8,219
down €8,219 (-100%), from €8,219 to €0
- Gross operating margin +€197,590
up €197,590 (+296%), from €66,675 to €264,264
- Staff costs +€148,143
up €148,143 (+369%), from €40,137 to €188,280
- Taxes +€13,732
up €13,732 (+236%), from €5,818 to €19,550
- Depreciation +€9,500
up €9,500 (+173%), from €5,494 to €14,995
- Other operating charges -€4,438
down €4,438 (-68.2%), from €6,511 to €2,073
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 | €202,279 | €280,857 | +€78,578 | +38.8% |
| Fixed assets | 21/28 | €17,877 | €97,158 | +€79,280 | +443% |
| Intangible fixed assets | 21 | - | €64,750 | +€64,750 | |
| Tangible fixed assets | 22/27 | €17,877 | €32,408 | +€14,530 | +81.3% |
| Plant, machinery and equipment | 23 | €3,620 | €16,417 | +€12,797 | +354% |
| Furniture and vehicles | 24 | €11,367 | €9,724 | -€1,644 | -14.5% |
| Other tangible fixed assets | 26 | €2,890 | €6,267 | +€3,377 | +117% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €184,402 | €183,699 | -€703 | -0.4% |
| Amounts receivable after more than one year | 29 | €80,000 | €0 | -€80,000 | -100% |
| Other amounts receivable | 291 | €80,000 | €0 | -€80,000 | -100% |
| Amounts receivable within one year | 40/41 | €75,424 | €54,962 | -€20,462 | -27.1% |
| Trade receivables | 40 | €73,208 | €3,300 | -€69,908 | -95.5% |
| Other amounts receivable | 41 | €2,216 | €51,662 | +€49,446 | +2,232% |
| Cash at bank and in hand | 54/58 | €28,978 | €128,738 | +€99,759 | +344% |
| Total equity and liabilities | 10/49 | €202,279 | €280,857 | +€78,578 | +38.8% |
| Equity | 10/15 | €170,756 | €208,478 | +€37,722 | +22.1% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €151,756 | €189,478 | +€37,722 | +24.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €151,756 | €189,478 | +€37,722 | +24.9% |
| Amounts payable | 17/49 | €31,523 | €72,379 | +€40,856 | +130% |
| Amounts payable within one year | 42/48 | €30,504 | €71,865 | +€41,361 | +136% |
| Trade debts | 44 | €12,504 | €34,421 | +€21,917 | +175% |
| Suppliers | 440/4 | €12,504 | €34,421 | +€21,917 | +175% |
| Advances received on contracts in progress | 46 | - | €750 | +€750 | |
| Taxes, remuneration and social security | 45 | €9,781 | €36,694 | +€26,913 | +275% |
| Taxes | 450/3 | €5,857 | €14,238 | +€8,381 | +143% |
| Remuneration and social security | 454/9 | €3,924 | €22,456 | +€18,532 | +472% |
| Other amounts payable | 47/48 | €8,219 | €0 | -€8,219 | -100% |
| Accrued charges and deferred income | 492/3 | €1,019 | €514 | -€505 | -49.6% |
| Remuneration, social security and pensions | 62 | €40,137 | €188,280 | +€148,143 | +369% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,494 | €14,995 | +€9,500 | +173% |
| Other operating charges | 640/8 | €6,511 | €2,073 | -€4,438 | -68.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €66,675 | €264,264 | +€197,590 | +296% |
| Operating profit (loss) | 9901 | €14,532 | €58,917 | +€44,385 | +305% |
| Financial income | 75/76B | €2,400 | €963 | -€1,437 | -59.9% |
| Recurring financial income | 75 | €2,400 | €963 | -€1,437 | -59.9% |
| Financial charges | 65/66B | €701 | €2,609 | +€1,908 | +272% |
| Recurring financial charges | 65 | €701 | €2,609 | +€1,908 | +272% |
| Profit (loss) for the period before taxes | 9903 | €16,231 | €57,272 | +€41,040 | +253% |
| Income taxes | 67/77 | €5,818 | €19,550 | +€13,732 | +236% |
| Profit (loss) for the period | 9904 | €10,413 | €37,722 | +€27,308 | +262% |
| Profit (loss) for the period to be appropriated | 9905 | €10,413 | €37,722 | +€27,308 | +262% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.