MAJID HORECA: 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.
MAJID HORECA
Largest movements
- Receivables within one year +€3,356
up €3,356 (+270%), from €1,242 to €4,598
of which Trade receivables: +€3,266
- Stocks and contracts -€1,550
down €1,550 (-53.4%), from €2,900 to €1,350
- Cash -€1,028
down €1,028 (-63.1%), from €1,629 to €601
mainly Receivables within one year (-€3,356) and Trade debts (-€2,193)
- Tangible fixed assets -€391
down €391 (-29.5%), from €1,324 to €933
- Trade debts -€2,193
down €2,193 (-65.8%), from €3,331 to €1,138
- Profit (loss) carried forward +€1,827
up €1,827, from -€321 to €1,506
- Tax, wage and social debts +€1,237
up €1,237 (+74.5%), from €1,661 to €2,898
- Other debts -€424
no longer reported in 2025 (was €424)
- Gross operating margin +€1,373
up €1,373 (+398%), from €345 to €1,718
- Depreciation -€773
down €773 (-66.4%), from €1,164 to €391
- Taxes +€279
new in 2025: €279
- Other operating charges -€240
no longer reported in 2025 (was €240)
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 | €7,095 | €7,542 | +€447 | +6.3% |
| Fixed assets | 21/28 | €1,324 | €933 | -€391 | -29.5% |
| Tangible fixed assets | 22/27 | €1,324 | €933 | -€391 | -29.5% |
| Furniture and vehicles | 24 | €1,324 | €933 | -€391 | -29.5% |
| Current assets | 29/58 | €5,771 | €6,609 | +€838 | +14.5% |
| Stocks and contracts in progress | 3 | €2,900 | €1,350 | -€1,550 | -53.4% |
| Stocks | 30/36 | €2,900 | €1,350 | -€1,550 | -53.4% |
| Amounts receivable within one year | 40/41 | €1,242 | €4,598 | +€3,356 | +270% |
| Trade receivables | 40 | €1,242 | €4,508 | +€3,266 | +263% |
| Other amounts receivable | 41 | - | €90 | +€90 | |
| Cash at bank and in hand | 54/58 | €1,629 | €601 | -€1,028 | -63.1% |
| Deferred charges and accrued income | 490/1 | - | €60 | +€60 | |
| Total equity and liabilities | 10/49 | €7,095 | €7,542 | +€447 | +6.3% |
| Equity | 10/15 | €1,679 | €3,506 | +€1,827 | +109% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€321 | €1,506 | +€1,827 | |
| Amounts payable | 17/49 | €5,416 | €4,036 | -€1,380 | -25.5% |
| Amounts payable within one year | 42/48 | €5,416 | €4,036 | -€1,380 | -25.5% |
| Trade debts | 44 | €3,331 | €1,138 | -€2,193 | -65.8% |
| Suppliers | 440/4 | €3,331 | €1,138 | -€2,193 | -65.8% |
| Taxes, remuneration and social security | 45 | €1,661 | €2,898 | +€1,237 | +74.5% |
| Taxes | 450/3 | €1,661 | €2,898 | +€1,237 | +74.5% |
| Other amounts payable | 47/48 | €424 | - | -€424 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,164 | €391 | -€773 | -66.4% |
| Other operating charges | 640/8 | €240 | - | -€240 | |
| Gross operating margin | 9900 | €345 | €1,718 | +€1,373 | +398% |
| Operating profit (loss) | 9901 | -€1,059 | €1,327 | +€2,386 | |
| Financial charges | 65/66B | €35 | €45 | +€10 | +28.6% |
| Recurring financial charges | 65 | €35 | €45 | +€10 | +28.6% |
| Profit (loss) for the period before taxes | 9903 | -€1,094 | €1,282 | +€2,376 | |
| Income taxes | 67/77 | - | €279 | +€279 | |
| Profit (loss) for the period | 9904 | -€1,094 | €1,003 | +€2,097 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,094 | €1,003 | +€2,097 |
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 22 October 2026 via checked.be.