HORECA VANBRIEL: 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 VANBRIEL
Largest movements
- Cash +€35,765
up €35,765 (+140%), from €25,586 to €61,351
mainly Net result for the year (+€56,660) and Depreciation (+€50,022)
- Receivables after one year +€33,999
up €33,999 (+29.7%), from €114,478 to €148,477
- Tangible fixed assets +€21,444
up €21,444 (+13.1%), from €164,087 to €185,531
of which Leasing and similar rights: +€40,691
- Stocks and contracts +€9,602
up €9,602 (+44.4%), from €21,626 to €31,228
- Receivables within one year +€5,600
up €5,600 (+37.4%), from €14,988 to €20,587
of which Other amounts receivable: +€6,012
- Reserves +€55,160
up €55,160 (+32.1%), from €171,930 to €227,090
- Debts after one year +€26,305
up €26,305 (+22.7%), from €115,916 to €142,221
of which Financial debts: +€25,342
- Tax, wage and social debts +€13,484
up €13,484 (+29.9%), from €45,139 to €58,623
of which Taxes: +€7,538
- Current portion of long-term debt +€5,901
new in 2025: €5,901
- Gross operating margin +€108,450
up €108,450 (+44.2%), from €245,519 to €353,969
- Staff costs +€65,951
up €65,951 (+36.8%), from €179,388 to €245,338
- Financial income +€18,619
up €18,619 (+224%), from €8,327 to €26,946
of which Non-recurring financial income: +€22,086
- Taxes +€11,636
up €11,636 (+521%), from €2,233 to €13,869
- Depreciation +€9,572
up €9,572 (+23.7%), from €40,450 to €50,022
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 | €366,719 | €472,801 | +€106,082 | +28.9% |
| Fixed assets | 21/28 | €164,087 | €185,531 | +€21,444 | +13.1% |
| Tangible fixed assets | 22/27 | €164,087 | €185,531 | +€21,444 | +13.1% |
| Land and buildings | 22 | €13,312 | €10,698 | -€2,614 | -19.6% |
| Plant, machinery and equipment | 23 | €94,376 | €73,805 | -€20,572 | -21.8% |
| Furniture and vehicles | 24 | €50,118 | €50,146 | +€28 | +0.1% |
| Leasing and similar rights | 25 | - | €40,691 | +€40,691 | |
| Other tangible fixed assets | 26 | €6,280 | €10,191 | +€3,911 | +62.3% |
| Current assets | 29/58 | €202,633 | €287,270 | +€84,638 | +41.8% |
| Amounts receivable after more than one year | 29 | €114,478 | €148,477 | +€33,999 | +29.7% |
| Other amounts receivable | 291 | €114,478 | €148,477 | +€33,999 | +29.7% |
| Stocks and contracts in progress | 3 | €21,626 | €31,228 | +€9,602 | +44.4% |
| Stocks | 30/36 | €21,626 | €31,228 | +€9,602 | +44.4% |
| Amounts receivable within one year | 40/41 | €14,988 | €20,587 | +€5,600 | +37.4% |
| Trade receivables | 40 | €1,672 | €1,260 | -€412 | -24.6% |
| Other amounts receivable | 41 | €13,316 | €19,327 | +€6,012 | +45.1% |
| Current investments | 50/53 | €20,000 | €20,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €25,586 | €61,351 | +€35,765 | +140% |
| Deferred charges and accrued income | 490/1 | €5,955 | €5,627 | -€328 | -5.5% |
| Total equity and liabilities | 10/49 | €366,719 | €472,801 | +€106,082 | +28.9% |
| Equity | 10/15 | €190,530 | €245,690 | +€55,160 | +29.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €171,930 | €227,090 | +€55,160 | +32.1% |
| Distributable reserves | 133 | €171,930 | €227,090 | +€55,160 | +32.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €176,190 | €227,111 | +€50,922 | +28.9% |
| Amounts payable after more than one year | 17 | €115,916 | €142,221 | +€26,305 | +22.7% |
| Financial debts | 170/4 | - | €25,342 | +€25,342 | |
| Other amounts payable | 178/9 | €115,916 | €116,879 | +€962 | +0.8% |
| Amounts payable within one year | 42/48 | €60,273 | €84,891 | +€24,617 | +40.8% |
| Current portion of amounts payable after more than one year | 42 | - | €5,901 | +€5,901 | |
| Trade debts | 44 | €14,879 | €18,581 | +€3,701 | +24.9% |
| Suppliers | 440/4 | €14,879 | €18,581 | +€3,701 | +24.9% |
| Taxes, remuneration and social security | 45 | €45,139 | €58,623 | +€13,484 | +29.9% |
| Taxes | 450/3 | €3,287 | €10,826 | +€7,538 | +229% |
| Remuneration and social security | 454/9 | €41,852 | €47,798 | +€5,946 | +14.2% |
| Other amounts payable | 47/48 | €255 | €1,785 | +€1,530 | +600% |
| Remuneration, social security and pensions | 62 | €179,388 | €245,338 | +€65,951 | +36.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,450 | €50,022 | +€9,572 | +23.7% |
| Other operating charges | 640/8 | €2,735 | €2,731 | -€4 | -0.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €245,519 | €353,969 | +€108,450 | +44.2% |
| Operating profit (loss) | 9901 | €22,946 | €55,878 | +€32,932 | +144% |
| Financial income | 75/76B | €8,327 | €26,946 | +€18,619 | +224% |
| Recurring financial income | 75 | €8,327 | €4,860 | -€3,467 | -41.6% |
| Non-recurring financial income | 76B | - | €22,086 | +€22,086 | |
| Financial charges | 65/66B | €12,546 | €12,296 | -€250 | -2.0% |
| Recurring financial charges | 65 | €12,546 | €12,296 | -€250 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | €18,727 | €70,528 | +€51,801 | +277% |
| Income taxes | 67/77 | €2,233 | €13,869 | +€11,636 | +521% |
| Profit (loss) for the period | 9904 | €16,494 | €56,660 | +€40,165 | +244% |
| Profit (loss) for the period to be appropriated | 9905 | €16,494 | €56,660 | +€40,165 | +244% |
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 15 October 2026 via checked.be.