HORECA PRO: 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 PRO
Largest movements
- Receivables within one year +€157,310
up €157,310 (+114%), from €138,194 to €295,504
of which Other amounts receivable: +€140,164
- Stocks and contracts +€109,673
up €109,673 (+18.1%), from €606,628 to €716,302
- Tangible fixed assets -€39,532
down €39,532 (-12.9%), from €307,285 to €267,753
of which Land and buildings: -€26,492
- Cash -€37,886
down €37,886 (-48.3%), from €78,407 to €40,521
mainly Receivables within one year (-€157,310) and Stocks and contracts (-€109,673)
- Trade debts +€206,177
up €206,177 (+92.2%), from €223,688 to €429,865
- Debts after one year -€48,429
down €48,429 (-20.8%), from €232,787 to €184,358
- Profit (loss) carried forward +€41,263
up €41,263 (+12.4%), from €333,634 to €374,897
- Other debts -€25,978
down €25,978 (-71.7%), from €36,233 to €10,255
- Tax, wage and social debts +€18,870
up €18,870 (+43.5%), from €43,387 to €62,257
of which Remuneration and social security: +€15,546
- Staff costs +€35,491
up €35,491 (+13.4%), from €265,209 to €300,701
- Write-downs -€23,429
down €23,429, from €5,078 to -€18,351
- Gross operating margin +€18,911
up €18,911 (+4.4%), from €429,000 to €447,911
- Financial charges -€14,297
down €14,297 (-20.1%), from €70,956 to €56,659
- Other operating charges +€8,552
up €8,552 (+33.1%), from €25,835 to €34,387
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 | €1,151,364 | €1,340,732 | +€189,368 | +16.4% |
| Fixed assets | 21/28 | €326,401 | €282,779 | -€43,622 | -13.4% |
| Intangible fixed assets | 21 | €19,116 | €15,026 | -€4,090 | -21.4% |
| Tangible fixed assets | 22/27 | €307,285 | €267,753 | -€39,532 | -12.9% |
| Land and buildings | 22 | €260,114 | €233,622 | -€26,492 | -10.2% |
| Plant, machinery and equipment | 23 | €32,292 | €23,284 | -€9,008 | -27.9% |
| Furniture and vehicles | 24 | €14,879 | €10,847 | -€4,033 | -27.1% |
| Current assets | 29/58 | €824,962 | €1,057,953 | +€232,990 | +28.2% |
| Stocks and contracts in progress | 3 | €606,628 | €716,302 | +€109,673 | +18.1% |
| Stocks | 30/36 | €606,628 | €716,302 | +€109,673 | +18.1% |
| Amounts receivable within one year | 40/41 | €138,194 | €295,504 | +€157,310 | +114% |
| Trade receivables | 40 | €53,369 | €70,515 | +€17,146 | +32.1% |
| Other amounts receivable | 41 | €84,825 | €224,988 | +€140,164 | +165% |
| Cash at bank and in hand | 54/58 | €78,407 | €40,521 | -€37,886 | -48.3% |
| Deferred charges and accrued income | 490/1 | €1,733 | €5,626 | +€3,894 | +225% |
| Total equity and liabilities | 10/49 | €1,151,364 | €1,340,732 | +€189,368 | +16.4% |
| Equity | 10/15 | €341,690 | €382,953 | +€41,263 | +12.1% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €333,634 | €374,897 | +€41,263 | +12.4% |
| Amounts payable | 17/49 | €809,673 | €957,778 | +€148,105 | +18.3% |
| Amounts payable after more than one year | 17 | €232,787 | €184,358 | -€48,429 | -20.8% |
| Financial debts | 170/4 | €232,787 | €184,358 | -€48,429 | -20.8% |
| Amounts payable within one year | 42/48 | €576,886 | €773,421 | +€196,534 | +34.1% |
| Current portion of amounts payable after more than one year | 42 | €48,944 | €48,429 | -€514 | -1.1% |
| Financial debts | 43 | €224,636 | €222,616 | -€2,020 | -0.9% |
| Credit institutions | 430/8 | €224,636 | €219,636 | -€5,000 | -2.2% |
| Other loans | 439 | - | €2,980 | +€2,980 | |
| Trade debts | 44 | €223,688 | €429,865 | +€206,177 | +92.2% |
| Suppliers | 440/4 | €223,688 | €429,865 | +€206,177 | +92.2% |
| Taxes, remuneration and social security | 45 | €43,387 | €62,257 | +€18,870 | +43.5% |
| Taxes | 450/3 | €6,248 | €9,573 | +€3,324 | +53.2% |
| Remuneration and social security | 454/9 | €37,138 | €52,684 | +€15,546 | +41.9% |
| Other amounts payable | 47/48 | €36,233 | €10,255 | -€25,978 | -71.7% |
| Non-recurring operating income | 76A | €2,098 | - | -€2,098 | |
| Remuneration, social security and pensions | 62 | €265,209 | €300,701 | +€35,491 | +13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,033 | €51,146 | -€2,887 | -5.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,078 | -€18,351 | -€23,429 | |
| Other operating charges | 640/8 | €25,835 | €34,387 | +€8,552 | +33.1% |
| Non-recurring operating charges | 66A | €4,564 | - | -€4,564 | |
| Gross operating margin | 9900 | €429,000 | €447,911 | +€18,911 | +4.4% |
| Operating profit (loss) | 9901 | €74,281 | €80,029 | +€5,748 | +7.7% |
| Financial income | 75/76B | €25,075 | €18,585 | -€6,490 | -25.9% |
| Recurring financial income | 75 | €25,075 | €18,585 | -€6,490 | -25.9% |
| Financial charges | 65/66B | €70,956 | €56,659 | -€14,297 | -20.1% |
| Recurring financial charges | 65 | €70,956 | €56,659 | -€14,297 | -20.1% |
| Profit (loss) for the period before taxes | 9903 | €28,399 | €41,955 | +€13,556 | +47.7% |
| Income taxes | 67/77 | €2,313 | €692 | -€1,621 | -70.1% |
| Profit (loss) for the period | 9904 | €26,087 | €41,263 | +€15,176 | +58.2% |
| Profit (loss) for the period to be appropriated | 9905 | €26,087 | €41,263 | +€15,176 | +58.2% |
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 14 October 2026 via checked.be.