RM HORECA: what changed
Two fiscal 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.
RM HORECA
Largest movements
- Tangible fixed assets -€18,690
down €18,690 (-6.0%), from €312,887 to €294,196
of which Land and buildings: -€13,144
- Intangible fixed assets -€11,628
down €11,628 (-16.8%), from €69,402 to €57,774
- Receivables within one year -€6,683
down €6,683 (-84.6%), from €7,903 to €1,220
of which Trade receivables: -€6,683
- Trade debts -€35,224
down €35,224 (-73.8%), from €47,757 to €12,533
- Debts after one year -€14,061
down €14,061 (-4.7%), from €296,998 to €282,937
- Other debts +€12,056
up €12,056 (+47.8%), from €25,229 to €37,285
- Profit (loss) carried forward -€8,422
down €8,422 (-45.2%), from -€18,641 to -€27,063
- Current portion of long-term debt +€8,008
up €8,008 (+58.9%), from €13,598 to €21,606
- Gross operating margin +€28,417
up €28,417 (+100.8%), from €28,205 to €56,621
- Staff costs +€18,263
new in 2025: €18,263
- Financial income +€1,810
up €1,810 (+3736.4%), from €48 to €1,859
- Other operating charges -€1,583
down €1,583 (-75.8%), from €2,090 to €507
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 | €397,613 | €362,487 | -€35,126 | -8.8% |
| Fixed assets | 21/28 | €382,289 | €351,971 | -€30,318 | -7.9% |
| Intangible fixed assets | 21 | €69,402 | €57,774 | -€11,628 | -16.8% |
| Tangible fixed assets | 22/27 | €312,887 | €294,196 | -€18,690 | -6.0% |
| Land and buildings | 22 | €286,900 | €273,756 | -€13,144 | -4.6% |
| Plant, machinery and equipment | 23 | €25,284 | €19,956 | -€5,327 | -21.1% |
| Furniture and vehicles | 24 | €703 | €484 | -€219 | -31.1% |
| Current assets | 29/58 | €15,324 | €10,516 | -€4,808 | -31.4% |
| Stocks and contracts in progress | 3 | €2,280 | €1,337 | -€943 | -41.4% |
| Stocks | 30/36 | €2,280 | €1,337 | -€943 | -41.4% |
| Amounts receivable within one year | 40/41 | €7,903 | €1,220 | -€6,683 | -84.6% |
| Trade receivables | 40 | €7,903 | €1,220 | -€6,683 | -84.6% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €3,333 | €5,082 | +€1,750 | +52.5% |
| Deferred charges and accrued income | 490/1 | €1,808 | €2,876 | +€1,068 | +59.1% |
| Total equity and liabilities | 10/49 | €397,613 | €362,487 | -€35,126 | -8.8% |
| Equity | 10/15 | €11,359 | €2,937 | -€8,422 | -74.1% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,641 | -€27,063 | -€8,422 | -45.2% |
| Amounts payable | 17/49 | €386,254 | €359,550 | -€26,704 | -6.9% |
| Amounts payable after more than one year | 17 | €296,998 | €282,937 | -€14,061 | -4.7% |
| Financial debts | 170/4 | €296,998 | €282,937 | -€14,061 | -4.7% |
| Amounts payable within one year | 42/48 | €88,941 | €74,182 | -€14,758 | -16.6% |
| Current portion of amounts payable after more than one year | 42 | €13,598 | €21,606 | +€8,008 | +58.9% |
| Trade debts | 44 | €47,757 | €12,533 | -€35,224 | -73.8% |
| Suppliers | 440/4 | €47,757 | €12,533 | -€35,224 | -73.8% |
| Taxes, remuneration and social security | 45 | €2,357 | €2,758 | +€401 | +17.0% |
| Taxes | 450/3 | €2,357 | €1,287 | -€1,070 | -45.4% |
| Remuneration and social security | 454/9 | - | €1,471 | +€1,471 | |
| Other amounts payable | 47/48 | €25,229 | €37,285 | +€12,056 | +47.8% |
| Accrued charges and deferred income | 492/3 | €315 | €2,430 | +€2,115 | +671.6% |
| Remuneration, social security and pensions | 62 | - | €18,263 | +€18,263 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,592 | €31,089 | +€498 | +1.6% |
| Other operating charges | 640/8 | €2,090 | €507 | -€1,583 | -75.8% |
| Gross operating margin | 9900 | €28,205 | €56,621 | +€28,417 | +100.8% |
| Operating profit (loss) | 9901 | -€4,477 | €6,763 | +€11,239 | |
| Financial income | 75/76B | €48 | €1,859 | +€1,810 | +3736.4% |
| Recurring financial income | 75 | €48 | €1,859 | +€1,810 | +3736.4% |
| Financial charges | 65/66B | €16,748 | €17,044 | +€295 | +1.8% |
| Recurring financial charges | 65 | €16,748 | €17,044 | +€295 | +1.8% |
| Profit (loss) for the period before taxes | 9903 | -€21,177 | -€8,422 | +€12,754 | +60.2% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€21,177 | -€8,422 | +€12,754 | +60.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,177 | -€8,422 | +€12,754 | +60.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.