SARA 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.
SARA HORECA
Largest movements
- Receivables within one year +€107,911
up €107,911 (+20.0%), from €538,475 to €646,387
of which Trade receivables: +€93,230
- Reserves +€64,436
up €64,436 (+26.8%), from €240,171 to €304,607
- Trade debts +€25,534
up €25,534 (+7.2%), from €353,608 to €379,143
- Tax, wage and social debts +€21,008
up €21,008 (+50.0%), from €41,986 to €62,993
of which Taxes: +€22,008
- Gross operating margin +€35,305
up €35,305 (+50.9%), from €69,367 to €104,672
- Taxes +€16,195
up €16,195 (+192%), from €8,448 to €24,643
- Other operating charges +€4,945
up €4,945 (+335%), from €1,477 to €6,422
- Depreciation -€2,368
down €2,368 (-20.6%), from €11,479 to €9,111
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 | €650,140 | €761,118 | +€110,978 | +17.1% |
| Fixed assets | 21/28 | €24,133 | €20,337 | -€3,796 | -15.7% |
| Tangible fixed assets | 22/27 | €19,633 | €12,987 | -€6,646 | -33.8% |
| Plant, machinery and equipment | 23 | €3,811 | €2,392 | -€1,419 | -37.2% |
| Furniture and vehicles | 24 | €6,954 | €2,466 | -€4,487 | -64.5% |
| Other tangible fixed assets | 26 | €8,868 | €8,129 | -€739 | -8.3% |
| Financial fixed assets | 28 | €4,500 | €7,350 | +€2,850 | +63.3% |
| Current assets | 29/58 | €626,007 | €740,781 | +€114,773 | +18.3% |
| Stocks and contracts in progress | 3 | €75,747 | €83,022 | +€7,275 | +9.6% |
| Stocks | 30/36 | €75,747 | €83,022 | +€7,275 | +9.6% |
| Amounts receivable within one year | 40/41 | €538,475 | €646,387 | +€107,911 | +20.0% |
| Trade receivables | 40 | €318,865 | €412,095 | +€93,230 | +29.2% |
| Other amounts receivable | 41 | €219,610 | €234,291 | +€14,681 | +6.7% |
| Cash at bank and in hand | 54/58 | €10,317 | €10,429 | +€112 | +1.1% |
| Deferred charges and accrued income | 490/1 | €1,469 | €944 | -€525 | -35.8% |
| Total equity and liabilities | 10/49 | €650,140 | €761,118 | +€110,978 | +17.1% |
| Equity | 10/15 | €254,546 | €318,982 | +€64,436 | +25.3% |
| Contributions | 10/11 | €14,375 | €14,375 | = | 0.0% |
| Reserves | 13 | €240,171 | €304,607 | +€64,436 | +26.8% |
| Distributable reserves | 133 | €240,171 | €304,607 | +€64,436 | +26.8% |
| Amounts payable | 17/49 | €395,594 | €442,136 | +€46,542 | +11.8% |
| Amounts payable within one year | 42/48 | €395,594 | €442,136 | +€46,542 | +11.8% |
| Trade debts | 44 | €353,608 | €379,143 | +€25,534 | +7.2% |
| Suppliers | 440/4 | €353,608 | €379,143 | +€25,534 | +7.2% |
| Taxes, remuneration and social security | 45 | €41,986 | €62,993 | +€21,008 | +50.0% |
| Taxes | 450/3 | €40,986 | €62,993 | +€22,008 | +53.7% |
| Remuneration and social security | 454/9 | €1,000 | €0 | -€1,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,479 | €9,111 | -€2,368 | -20.6% |
| Other operating charges | 640/8 | €1,477 | €6,422 | +€4,945 | +335% |
| Gross operating margin | 9900 | €69,367 | €104,672 | +€35,305 | +50.9% |
| Operating profit (loss) | 9901 | €56,411 | €89,139 | +€32,728 | +58.0% |
| Financial income | 75/76B | €365 | €9 | -€357 | -97.6% |
| Recurring financial income | 75 | €365 | €9 | -€357 | -97.6% |
| Financial charges | 65/66B | €130 | €69 | -€61 | -47.1% |
| Recurring financial charges | 65 | €130 | €69 | -€61 | -47.1% |
| Profit (loss) for the period before taxes | 9903 | €56,646 | €89,079 | +€32,433 | +57.3% |
| Income taxes | 67/77 | €8,448 | €24,643 | +€16,195 | +192% |
| Profit (loss) for the period | 9904 | €48,198 | €64,436 | +€16,238 | +33.7% |
| Profit (loss) for the period to be appropriated | 9905 | €48,198 | €64,436 | +€16,238 | +33.7% |
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 25 October 2026 via checked.be.