HORECOL: what changed
HORECOL
Largest movements
- Cash -€9,291
down €9,291 (-22.1%), from €41,965 to €32,674
mainly Net result for the year (-€3,154) and Contributions, distributions and other (-€3,000)
- Profit (loss) carried forward -€3,154
down €3,154 (-1,899%), from -€166 to -€3,321
- Reserves -€3,000
down €3,000 (-17.4%), from €17,215 to €14,215
of which Distributable reserves: -€3,000
- Trade debts -€2,306
down €2,306 (-51.2%), from €4,502 to €2,197
- Tax, wage and social debts -€1,133
no longer reported in 2025 (was €1,133)
- Gross operating margin -€7,049
down €7,049, from €4,702 to -€2,348
- Taxes -€1,630
down €1,630 (-92.5%), from €1,762 to €132
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €44,765 | €34,926 | -€9,839 | -22.0% |
| Fixed assets | 21/28 | €48 | €48 | = | 0.0% |
| Financial fixed assets | 28 | €48 | €48 | = | 0.0% |
| Current assets | 29/58 | €44,717 | €34,877 | -€9,839 | -22.0% |
| Stocks and contracts in progress | 3 | €502 | €394 | -€108 | -21.5% |
| Stocks | 30/36 | €502 | €394 | -€108 | -21.5% |
| Amounts receivable within one year | 40/41 | €1,174 | €844 | -€330 | -28.1% |
| Trade receivables | 40 | €1,174 | €345 | -€829 | -70.6% |
| Other amounts receivable | 41 | - | €499 | +€499 | |
| Cash at bank and in hand | 54/58 | €41,965 | €32,674 | -€9,291 | -22.1% |
| Deferred charges and accrued income | 490/1 | €1,076 | €966 | -€110 | -10.2% |
| Total equity and liabilities | 10/49 | €44,765 | €34,926 | -€9,839 | -22.0% |
| Equity | 10/15 | €35,649 | €29,495 | -€6,154 | -17.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €17,215 | €14,215 | -€3,000 | -17.4% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €15,356 | €12,356 | -€3,000 | -19.5% |
| Profit (loss) carried forward | 14 | -€166 | -€3,321 | -€3,154 | -1,899% |
| Amounts payable | 17/49 | €9,116 | €5,431 | -€3,685 | -40.4% |
| Amounts payable within one year | 42/48 | €9,116 | €5,431 | -€3,685 | -40.4% |
| Trade debts | 44 | €4,502 | €2,197 | -€2,306 | -51.2% |
| Suppliers | 440/4 | €4,502 | €2,197 | -€2,306 | -51.2% |
| Taxes, remuneration and social security | 45 | €1,133 | - | -€1,133 | |
| Taxes | 450/3 | €1,133 | - | -€1,133 | |
| Other amounts payable | 47/48 | €3,481 | €3,234 | -€247 | -7.1% |
| Other operating charges | 640/8 | €729 | €752 | +€23 | +3.2% |
| Gross operating margin | 9900 | €4,702 | -€2,348 | -€7,049 | |
| Operating profit (loss) | 9901 | €3,972 | -€3,100 | -€7,072 | |
| Financial income | 75/76B | €261 | €219 | -€41 | -15.9% |
| Recurring financial income | 75 | €261 | €219 | -€41 | -15.9% |
| Financial charges | 65/66B | €138 | €142 | +€4 | +2.9% |
| Recurring financial charges | 65 | €138 | €142 | +€4 | +2.9% |
| Profit (loss) for the period before taxes | 9903 | €4,095 | -€3,022 | -€7,118 | |
| Income taxes | 67/77 | €1,762 | €132 | -€1,630 | -92.5% |
| Profit (loss) for the period | 9904 | €2,334 | -€3,154 | -€5,488 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,334 | -€3,154 | -€5,488 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.