HORECADECO: 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.
HORECADECO
Largest movements
- Cash -€1,650
down €1,650 (-67.8%), from €2,434 to €784
mainly Trade debts (-€706) and Stocks and contracts (-€625)
- Stocks and contracts +€625
up €625 (+4.9%), from €12,865 to €13,490
- Receivables within one year +€390
up €390 (+4.5%), from €8,704 to €9,094
of which Trade receivables: +€2,105
- Trade debts -€706
down €706 (-20.2%), from €3,491 to €2,785
- Gross operating margin -€46
down €46 (-5.1%), from €911 to €865
- Other operating charges +€16
up €16 (+2.8%), from €578 to €594
- Financial charges +€11
up €11 (+5.7%), from €190 to €201
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.
Cash bridge derived
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 | €24,003 | €23,368 | -€635 | -2.6% |
| Current assets | 29/58 | €24,003 | €23,368 | -€635 | -2.6% |
| Stocks and contracts in progress | 3 | €12,865 | €13,490 | +€625 | +4.9% |
| Stocks | 30/36 | €12,865 | €13,490 | +€625 | +4.9% |
| Amounts receivable within one year | 40/41 | €8,704 | €9,094 | +€390 | +4.5% |
| Trade receivables | 40 | €5,471 | €7,576 | +€2,105 | +38.5% |
| Other amounts receivable | 41 | €3,233 | €1,517 | -€1,715 | -53.1% |
| Cash at bank and in hand | 54/58 | €2,434 | €784 | -€1,650 | -67.8% |
| Total equity and liabilities | 10/49 | €24,003 | €23,368 | -€635 | -2.6% |
| Equity | 10/15 | -€13,726 | -€13,655 | +€71 | +0.5% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €31,875 | €31,875 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,875 | €1,875 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,875 | €1,875 | = | 0.0% |
| Distributable reserves | 133 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€64,351 | -€64,280 | +€71 | +0.1% |
| Amounts payable | 17/49 | €37,729 | €37,023 | -€706 | -1.9% |
| Amounts payable within one year | 42/48 | €37,729 | €37,023 | -€706 | -1.9% |
| Trade debts | 44 | €3,491 | €2,785 | -€706 | -20.2% |
| Suppliers | 440/4 | €3,491 | €2,785 | -€706 | -20.2% |
| Other amounts payable | 47/48 | €34,238 | €34,238 | = | 0.0% |
| Other operating charges | 640/8 | €578 | €594 | +€16 | +2.8% |
| Gross operating margin | 9900 | €911 | €865 | -€46 | -5.1% |
| Operating profit (loss) | 9901 | €333 | €271 | -€62 | -18.6% |
| Financial charges | 65/66B | €190 | €201 | +€11 | +5.7% |
| Recurring financial charges | 65 | €190 | €201 | +€11 | +5.7% |
| Profit (loss) for the period before taxes | 9903 | €144 | €71 | -€73 | -50.7% |
| Profit (loss) for the period | 9904 | €144 | €71 | -€73 | -50.7% |
| Profit (loss) for the period to be appropriated | 9905 | €144 | €71 | -€73 | -50.7% |
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 9 October 2026 via checked.be.