HORECA PROJECTS LDF: what changed
Two fiscal 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 PROJECTS LDF
Largest movements
- Tangible fixed assets -€53,564
down €53,564 (-18.7%), from €287,083 to €233,519
of which Plant, machinery and equipment: -€30,426
- Intangible fixed assets -€15,875
no longer reported in 2024 (was €15,875)
- Receivables within one year -€12,380
down €12,380 (-94.0%), from €13,170 to €790
of which Trade receivables: -€9,820
- Cash +€8,633
up €8,633 (+18.8%), from €46,014 to €54,647
mainly Investment in fixed assets (net) (+€46,301) and Depreciation (+€23,138)
- Deferred charges and accrued income -€7,425
down €7,425 (-89.6%), from €8,291 to €866
- Trade debts -€18,340
down €18,340 (-79.9%), from €22,952 to €4,612
- Reserves -€15,762
down €15,762 (-11.3%), from €140,089 to €124,327
of which Distributable reserves: -€14,262
- Contributions -€15,000
down €15,000 (-10.0%), from €150,000 to €135,000
- Debts after one year -€15,000
down €15,000 (-66.7%), from €22,500 to €7,500
- Tax, wage and social debts -€12,151
down €12,151 (-89.8%), from €13,538 to €1,387
- Gross operating margin -€30,624
down €30,624 (-50.1%), from €61,084 to €30,460
- Depreciation -€19,666
down €19,666 (-45.9%), from €42,804 to €23,138
- Other operating charges -€11,007
down €11,007 (-81.8%), from €13,458 to €2,451
- Taxes -€1,366
down €1,366 (-49.6%), from €2,753 to €1,387
- Financial charges -€1,099
down €1,099 (-57.4%), from €1,914 to €815
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €370,433 | €289,821 | -€80,611 | -21.8% |
| Fixed assets | 21/28 | €302,958 | €233,519 | -€69,439 | -22.9% |
| Intangible fixed assets | 21 | €15,875 | - | -€15,875 | |
| Tangible fixed assets | 22/27 | €287,083 | €233,519 | -€53,564 | -18.7% |
| Land and buildings | 22 | €256,657 | €233,519 | -€23,138 | -9.0% |
| Plant, machinery and equipment | 23 | €30,426 | - | -€30,426 | |
| Current assets | 29/58 | €67,475 | €56,302 | -€11,172 | -16.6% |
| Amounts receivable within one year | 40/41 | €13,170 | €790 | -€12,380 | -94.0% |
| Trade receivables | 40 | €10,610 | €790 | -€9,820 | -92.6% |
| Other amounts receivable | 41 | €2,561 | - | -€2,561 | |
| Cash at bank and in hand | 54/58 | €46,014 | €54,647 | +€8,633 | +18.8% |
| Deferred charges and accrued income | 490/1 | €8,291 | €866 | -€7,425 | -89.6% |
| Total equity and liabilities | 10/49 | €370,433 | €289,821 | -€80,611 | -21.8% |
| Equity | 10/15 | €290,089 | €259,327 | -€30,762 | -10.6% |
| Contributions | 10/11 | €150,000 | €135,000 | -€15,000 | -10.0% |
| Capital | 10 | €150,000 | €135,000 | -€15,000 | -10.0% |
| Issued capital | 100 | €150,000 | €135,000 | -€15,000 | -10.0% |
| Reserves | 13 | €140,089 | €124,327 | -€15,762 | -11.3% |
| Non-distributable reserves | 130/1 | €15,000 | €13,500 | -€1,500 | -10.0% |
| Legal reserve | 130 | €15,000 | €13,500 | -€1,500 | -10.0% |
| Distributable reserves | 133 | €125,089 | €110,827 | -€14,262 | -11.4% |
| Amounts payable | 17/49 | €80,343 | €30,494 | -€49,849 | -62.0% |
| Amounts payable after more than one year | 17 | €22,500 | €7,500 | -€15,000 | -66.7% |
| Financial debts | 170/4 | €22,500 | €7,500 | -€15,000 | -66.7% |
| Amounts payable within one year | 42/48 | €53,843 | €21,108 | -€32,735 | -60.8% |
| Current portion of amounts payable after more than one year | 42 | €15,000 | €15,000 | = | 0.0% |
| Trade debts | 44 | €22,952 | €4,612 | -€18,340 | -79.9% |
| Suppliers | 440/4 | €22,952 | €4,612 | -€18,340 | -79.9% |
| Taxes, remuneration and social security | 45 | €13,538 | €1,387 | -€12,151 | -89.8% |
| Taxes | 450/3 | €13,538 | €1,387 | -€12,151 | -89.8% |
| Other amounts payable | 47/48 | €2,353 | €109 | -€2,244 | -95.4% |
| Accrued charges and deferred income | 492/3 | €4,000 | €1,886 | -€2,114 | -52.9% |
| Non-recurring operating income | 76A | €21,500 | - | -€21,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,804 | €23,138 | -€19,666 | -45.9% |
| Other operating charges | 640/8 | €13,458 | €2,451 | -€11,007 | -81.8% |
| Gross operating margin | 9900 | €61,084 | €30,460 | -€30,624 | -50.1% |
| Operating profit (loss) | 9901 | €4,823 | €4,872 | +€49 | +1.0% |
| Financial income | 75/76B | €64 | €1 | -€63 | -98.0% |
| Recurring financial income | 75 | €64 | €1 | -€63 | -98.0% |
| Financial charges | 65/66B | €1,914 | €815 | -€1,099 | -57.4% |
| Recurring financial charges | 65 | €1,914 | €815 | -€1,099 | -57.4% |
| Profit (loss) for the period before taxes | 9903 | €2,973 | €4,058 | +€1,085 | +36.5% |
| Income taxes | 67/77 | €2,753 | €1,387 | -€1,366 | -49.6% |
| Profit (loss) for the period | 9904 | €220 | €2,671 | +€2,450 | +1111.3% |
| Profit (loss) for the period to be appropriated | 9905 | €220 | €2,671 | +€2,450 | +1111.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.