MV 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.
MV HORECA
Largest movements
- Tangible fixed assets +€61,547
up €61,547 (+74.8%), from €82,315 to €143,862
of which Furniture and vehicles: +€61,369
- Stocks and contracts +€32,462
up €32,462 (+123%), from €26,435 to €58,897
- Intangible fixed assets +€32,000
new in 2025: €32,000
- Cash +€27,069
up €27,069 (+241%), from €11,216 to €38,285
mainly Net result for the year (+€59,253) and Tax, wage and social debts (+€53,617)
- Receivables within one year +€14,317
up €14,317 (+21.1%), from €67,764 to €82,081
of which Trade receivables: +€14,317
- Profit (loss) carried forward +€59,390
up €59,390, from -€51,737 to €7,653
- Tax, wage and social debts +€53,617
up €53,617 (+64.1%), from €83,584 to €137,201
of which Remuneration and social security: +€34,366
- Debts after one year +€53,526
new in 2025: €53,526
- Current portion of long-term debt +€26,449
new in 2025: €26,449
- Trade debts -€25,587
down €25,587 (-32.3%), from €79,283 to €53,696
- Turnover +€766,493
up €766,493 (+63.5%), from €1.2m to €2.0m
- Purchases and services +€391,490
up €391,490 (+52.5%), from €746,333 to €1.1m
- Gross operating margin +€375,003
up €375,003 (+81.4%), from €460,436 to €835,439
- Staff costs +€297,967
up €297,967 (+72.8%), from €409,411 to €707,378
- Depreciation +€28,304
up €28,304 (+133%), from €21,322 to €49,626
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 | €187,730 | €355,125 | +€167,395 | +89.2% |
| Fixed assets | 21/28 | €82,315 | €175,862 | +€93,547 | +114% |
| Intangible fixed assets | 21 | - | €32,000 | +€32,000 | |
| Tangible fixed assets | 22/27 | €82,315 | €143,862 | +€61,547 | +74.8% |
| Furniture and vehicles | 24 | €59,455 | €120,824 | +€61,369 | +103% |
| Other tangible fixed assets | 26 | €22,860 | €23,038 | +€178 | +0.8% |
| Current assets | 29/58 | €105,415 | €179,263 | +€73,848 | +70.1% |
| Stocks and contracts in progress | 3 | €26,435 | €58,897 | +€32,462 | +123% |
| Stocks | 30/36 | €26,435 | €58,897 | +€32,462 | +123% |
| Amounts receivable within one year | 40/41 | €67,764 | €82,081 | +€14,317 | +21.1% |
| Trade receivables | 40 | €9,157 | €23,474 | +€14,317 | +156% |
| Other amounts receivable | 41 | €58,607 | €58,607 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €11,216 | €38,285 | +€27,069 | +241% |
| Total equity and liabilities | 10/49 | €187,730 | €355,125 | +€167,395 | +89.2% |
| Equity | 10/15 | €24,863 | €84,253 | +€59,390 | +239% |
| Contributions | 10/11 | €76,600 | €76,600 | = | 0.0% |
| Capital | 10 | €76,600 | €76,600 | = | 0.0% |
| Issued capital | 100 | €76,600 | €76,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€51,737 | €7,653 | +€59,390 | |
| Amounts payable | 17/49 | €162,867 | €270,872 | +€108,005 | +66.3% |
| Amounts payable after more than one year | 17 | - | €53,526 | +€53,526 | |
| Financial debts | 170/4 | - | €53,526 | +€53,526 | |
| Amounts payable within one year | 42/48 | €162,867 | €217,346 | +€54,479 | +33.4% |
| Current portion of amounts payable after more than one year | 42 | - | €26,449 | +€26,449 | |
| Trade debts | 44 | €79,283 | €53,696 | -€25,587 | -32.3% |
| Suppliers | 440/4 | €79,283 | €53,696 | -€25,587 | -32.3% |
| Taxes, remuneration and social security | 45 | €83,584 | €137,201 | +€53,617 | +64.1% |
| Taxes | 450/3 | €5,593 | €24,844 | +€19,251 | +344% |
| Remuneration and social security | 454/9 | €77,991 | €112,357 | +€34,366 | +44.1% |
| Turnover | 70 | €1,206,769 | €1,973,262 | +€766,493 | +63.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €746,333 | €1,137,823 | +€391,490 | +52.5% |
| Remuneration, social security and pensions | 62 | €409,411 | €707,378 | +€297,967 | +72.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,322 | €49,626 | +€28,304 | +133% |
| Other operating charges | 640/8 | - | €5,423 | +€5,423 | |
| Gross operating margin | 9900 | €460,436 | €835,439 | +€375,003 | +81.4% |
| Operating profit (loss) | 9901 | €29,703 | €73,012 | +€43,309 | +146% |
| Financial charges | 65/66B | €11,130 | €13,759 | +€2,629 | +23.6% |
| Recurring financial charges | 65 | €11,130 | €13,759 | +€2,629 | +23.6% |
| Profit (loss) for the period before taxes | 9903 | €18,573 | €59,253 | +€40,680 | +219% |
| Profit (loss) for the period | 9904 | €18,573 | €59,253 | +€40,680 | +219% |
| Profit (loss) for the period to be appropriated | 9905 | €18,573 | €59,253 | +€40,680 | +219% |
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 17 October 2026 via checked.be.