VJA 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.
VJA HORECA
Largest movements
- Receivables within one year -€37,767
down €37,767 (-68.7%), from €55,013 to €17,246
of which Trade receivables: -€32,160
- Cash +€35,566
up €35,566 (+53.8%), from €66,066 to €101,632
mainly Other debts (+€79,174) and Receivables within one year (+€37,767)
- Stocks and contracts +€23,814
up €23,814 (+50.4%), from €47,205 to €71,019
- Tangible fixed assets -€21,053
down €21,053 (-12.7%), from €165,246 to €144,193
of which Furniture and vehicles: -€10,794
- Other debts +€79,174
up €79,174 (+912%), from €8,681 to €87,855
- Reserves -€57,465
down €57,465 (-31.3%), from €183,472 to €126,007
- Tax, wage and social debts +€19,824
up €19,824 (+837%), from €2,370 to €22,194
of which Taxes: +€16,138
- Advances received -€19,467
no longer reported in 2025 (was €19,467)
- Trade debts -€16,988
down €16,988 (-93.3%), from €18,200 to €1,213
- Gross operating margin +€42,601
up €42,601 (+64.2%), from €66,355 to €108,956
- Staff costs +€17,940
up €17,940 (+99.9%), from €17,958 to €35,898
- Taxes +€5,019
up €5,019 (+74.1%), from €6,778 to €11,797
- Depreciation +€4,631
up €4,631 (+28.2%), from €16,422 to €21,053
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 | €340,152 | €337,585 | -€2,567 | -0.8% |
| Fixed assets | 21/28 | €166,691 | €145,638 | -€21,053 | -12.6% |
| Tangible fixed assets | 22/27 | €165,246 | €144,193 | -€21,053 | -12.7% |
| Land and buildings | 22 | €129,545 | €119,859 | -€9,686 | -7.5% |
| Plant, machinery and equipment | 23 | €1,609 | €1,036 | -€572 | -35.6% |
| Furniture and vehicles | 24 | €34,092 | €23,298 | -€10,794 | -31.7% |
| Financial fixed assets | 28 | €1,445 | €1,445 | = | 0.0% |
| Current assets | 29/58 | €173,461 | €191,947 | +€18,486 | +10.7% |
| Stocks and contracts in progress | 3 | €47,205 | €71,019 | +€23,814 | +50.4% |
| Stocks | 30/36 | €47,205 | €71,019 | +€23,814 | +50.4% |
| Amounts receivable within one year | 40/41 | €55,013 | €17,246 | -€37,767 | -68.7% |
| Trade receivables | 40 | €42,368 | €10,208 | -€32,160 | -75.9% |
| Other amounts receivable | 41 | €12,646 | €7,038 | -€5,607 | -44.3% |
| Cash at bank and in hand | 54/58 | €66,066 | €101,632 | +€35,566 | +53.8% |
| Deferred charges and accrued income | 490/1 | €5,177 | €2,051 | -€3,127 | -60.4% |
| Total equity and liabilities | 10/49 | €340,152 | €337,585 | -€2,567 | -0.8% |
| Equity | 10/15 | €202,072 | €144,607 | -€57,465 | -28.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €183,472 | €126,007 | -€57,465 | -31.3% |
| Distributable reserves | 133 | €183,472 | €126,007 | -€57,465 | -31.3% |
| Amounts payable | 17/49 | €138,080 | €192,978 | +€54,897 | +39.8% |
| Amounts payable after more than one year | 17 | €81,716 | €73,953 | -€7,763 | -9.5% |
| Financial debts | 170/4 | €81,716 | €73,953 | -€7,763 | -9.5% |
| Amounts payable within one year | 42/48 | €56,364 | €119,025 | +€62,661 | +111% |
| Current portion of amounts payable after more than one year | 42 | €7,646 | €7,763 | +€117 | +1.5% |
| Trade debts | 44 | €18,200 | €1,213 | -€16,988 | -93.3% |
| Suppliers | 440/4 | €18,200 | €1,213 | -€16,988 | -93.3% |
| Advances received on contracts in progress | 46 | €19,467 | - | -€19,467 | |
| Taxes, remuneration and social security | 45 | €2,370 | €22,194 | +€19,824 | +837% |
| Taxes | 450/3 | €500 | €16,638 | +€16,138 | +3,228% |
| Remuneration and social security | 454/9 | €1,870 | €5,556 | +€3,686 | +197% |
| Other amounts payable | 47/48 | €8,681 | €87,855 | +€79,174 | +912% |
| Remuneration, social security and pensions | 62 | €17,958 | €35,898 | +€17,940 | +99.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,422 | €21,053 | +€4,631 | +28.2% |
| Other operating charges | 640/8 | €3,107 | €3,097 | -€10 | -0.3% |
| Gross operating margin | 9900 | €66,355 | €108,956 | +€42,601 | +64.2% |
| Operating profit (loss) | 9901 | €28,867 | €48,907 | +€20,040 | +69.4% |
| Financial income | 75/76B | €6 | €11 | +€5 | +84.8% |
| Recurring financial income | 75 | €6 | €11 | +€5 | +84.8% |
| Financial charges | 65/66B | €1,683 | €1,586 | -€96 | -5.7% |
| Recurring financial charges | 65 | €1,683 | €1,586 | -€96 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | €27,191 | €47,332 | +€20,142 | +74.1% |
| Income taxes | 67/77 | €6,778 | €11,797 | +€5,019 | +74.1% |
| Profit (loss) for the period | 9904 | €20,413 | €35,535 | +€15,122 | +74.1% |
| Profit (loss) for the period to be appropriated | 9905 | €20,413 | €35,535 | +€15,122 | +74.1% |
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 15 October 2026 via checked.be.