VNF HORECA SERVICES: 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.
VNF HORECA SERVICES
Largest movements
- Cash -€8,283
down €8,283 (-11.8%), from €70,022 to €61,739
mainly Contributions, distributions and other (-€37,000) and Debts after one year (-€9,584)
- Stocks and contracts -€6,293
down €6,293 (-12.3%), from €51,269 to €44,976
- Tangible fixed assets -€4,404
down €4,404 (-50.0%), from €8,810 to €4,406
- Receivables within one year -€3,873
down €3,873 (-2.4%), from €161,910 to €158,037
of which Trade receivables: -€27,181
- Profit (loss) carried forward -€21,450
down €21,450 (-10.4%), from €205,366 to €183,916
- Other debts +€11,113
up €11,113 (+75.2%), from €14,787 to €25,900
- Debts after one year -€9,584
down €9,584 (-74.8%), from €12,807 to €3,223
- Provisions +€7,512
new in 2025: €7,512
- Taxes -€5,616
down €5,616 (-43.2%), from €13,003 to €7,387
- Other operating charges +€2,928
up €2,928 (+186%), from €1,576 to €4,504
- Gross operating margin -€2,799
down €2,799 (-2.1%), from €134,963 to €132,164
- Staff costs +€2,467
up €2,467 (+2.8%), from €87,452 to €89,919
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 | €292,029 | €269,175 | -€22,854 | -7.8% |
| Fixed assets | 21/28 | €8,828 | €4,423 | -€4,405 | -49.9% |
| Tangible fixed assets | 22/27 | €8,810 | €4,406 | -€4,404 | -50.0% |
| Furniture and vehicles | 24 | €8,810 | €4,406 | -€4,404 | -50.0% |
| Financial fixed assets | 28 | €18 | €17 | -€1 | -5.6% |
| Current assets | 29/58 | €283,201 | €264,752 | -€18,449 | -6.5% |
| Stocks and contracts in progress | 3 | €51,269 | €44,976 | -€6,293 | -12.3% |
| Stocks | 30/36 | €51,269 | €44,976 | -€6,293 | -12.3% |
| Amounts receivable within one year | 40/41 | €161,910 | €158,037 | -€3,873 | -2.4% |
| Trade receivables | 40 | €134,840 | €107,659 | -€27,181 | -20.2% |
| Other amounts receivable | 41 | €27,070 | €50,378 | +€23,308 | +86.1% |
| Cash at bank and in hand | 54/58 | €70,022 | €61,739 | -€8,283 | -11.8% |
| Total equity and liabilities | 10/49 | €292,029 | €269,175 | -€22,854 | -7.8% |
| Equity | 10/15 | €219,626 | €198,176 | -€21,450 | -9.8% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Profit (loss) carried forward | 14 | €205,366 | €183,916 | -€21,450 | -10.4% |
| Amounts payable | 17/49 | €72,403 | €70,999 | -€1,404 | -1.9% |
| Amounts payable after more than one year | 17 | €12,807 | €3,223 | -€9,584 | -74.8% |
| Financial debts | 170/4 | €12,807 | €3,223 | -€9,584 | -74.8% |
| Amounts payable within one year | 42/48 | €59,596 | €67,776 | +€8,180 | +13.7% |
| Current portion of amounts payable after more than one year | 42 | €6,076 | €6,293 | +€217 | +3.6% |
| Trade debts | 44 | €14,993 | €13,907 | -€1,086 | -7.2% |
| Suppliers | 440/4 | €14,993 | €13,907 | -€1,086 | -7.2% |
| Taxes, remuneration and social security | 45 | €23,740 | €21,676 | -€2,064 | -8.7% |
| Taxes | 450/3 | €21,710 | €12,134 | -€9,576 | -44.1% |
| Remuneration and social security | 454/9 | €2,030 | €9,542 | +€7,512 | +370% |
| Other amounts payable | 47/48 | €14,787 | €25,900 | +€11,113 | +75.2% |
| Remuneration, social security and pensions | 62 | €87,452 | €89,919 | +€2,467 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,405 | €4,405 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €415 | €1,639 | +€1,224 | +295% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €7,512 | +€7,512 | |
| Other operating charges | 640/8 | €1,576 | €4,504 | +€2,928 | +186% |
| Gross operating margin | 9900 | €134,963 | €132,164 | -€2,799 | -2.1% |
| Operating profit (loss) | 9901 | €41,115 | €24,185 | -€16,930 | -41.2% |
| Financial income | 75/76B | €18 | €2 | -€16 | -88.9% |
| Recurring financial income | 75 | €18 | €2 | -€16 | -88.9% |
| Financial charges | 65/66B | €1,388 | €1,250 | -€138 | -9.9% |
| Recurring financial charges | 65 | €1,388 | €1,250 | -€138 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | €39,745 | €22,937 | -€16,808 | -42.3% |
| Income taxes | 67/77 | €13,003 | €7,387 | -€5,616 | -43.2% |
| Profit (loss) for the period | 9904 | €26,742 | €15,550 | -€11,192 | -41.9% |
| Profit (loss) for the period to be appropriated | 9905 | €26,742 | €15,550 | -€11,192 | -41.9% |
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 20 October 2026 via checked.be.