AL MOGHTARAH: 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.
AL MOGHTARAH
Largest movements
- Tangible fixed assets -€23,550
down €23,550 (-7.6%), from €309,757 to €286,207
of which Land and buildings: -€12,543
- Receivables within one year +€12,976
up €12,976 (+30.3%), from €42,869 to €55,846
of which Trade receivables: +€17,447
- Profit (loss) carried forward -€69,537
down €69,537 (-19.2%), from -€363,094 to -€432,631
- Other debts +€67,184
up €67,184 (+20.1%), from €334,113 to €401,297
- Debts after one year -€33,256
down €33,256 (-14.8%), from €224,929 to €191,673
- Trade debts +€24,963
up €24,963 (+82.9%), from €30,094 to €55,057
- Gross operating margin +€3,234
up €3,234 (+7.9%), from -€40,767 to -€37,533
- Financial charges -€749
down €749 (-14.4%), from €5,209 to €4,460
- Depreciation +€491
up €491 (+1.9%), from €26,259 to €26,750
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 | €408,909 | €398,652 | -€10,257 | -2.5% |
| Fixed assets | 21/28 | €318,705 | €292,474 | -€26,230 | -8.2% |
| Intangible fixed assets | 21 | €8,948 | €5,748 | -€3,200 | -35.8% |
| Tangible fixed assets | 22/27 | €309,757 | €286,207 | -€23,550 | -7.6% |
| Land and buildings | 22 | €295,627 | €283,083 | -€12,543 | -4.2% |
| Plant, machinery and equipment | 23 | €2,944 | €737 | -€2,207 | -75.0% |
| Furniture and vehicles | 24 | €11,187 | €2,387 | -€8,800 | -78.7% |
| Financial fixed assets | 28 | - | €520 | +€520 | |
| Current assets | 29/58 | €90,205 | €106,177 | +€15,973 | +17.7% |
| Stocks and contracts in progress | 3 | €43,040 | €43,040 | = | 0.0% |
| Stocks | 30/36 | €43,040 | €43,040 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €42,869 | €55,846 | +€12,976 | +30.3% |
| Trade receivables | 40 | €37,496 | €54,943 | +€17,447 | +46.5% |
| Other amounts receivable | 41 | €5,373 | €902 | -€4,471 | -83.2% |
| Cash at bank and in hand | 54/58 | €3,661 | €6,635 | +€2,974 | +81.2% |
| Deferred charges and accrued income | 490/1 | €634 | €657 | +€22 | +3.5% |
| Total equity and liabilities | 10/49 | €408,909 | €398,652 | -€10,257 | -2.5% |
| Equity | 10/15 | -€213,094 | -€282,631 | -€69,537 | -32.6% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€363,094 | -€432,631 | -€69,537 | -19.2% |
| Amounts payable | 17/49 | €622,003 | €681,283 | +€59,279 | +9.5% |
| Amounts payable after more than one year | 17 | €224,929 | €191,673 | -€33,256 | -14.8% |
| Financial debts | 170/4 | €224,929 | €191,673 | -€33,256 | -14.8% |
| Amounts payable within one year | 42/48 | €397,074 | €489,610 | +€92,535 | +23.3% |
| Current portion of amounts payable after more than one year | 42 | €32,627 | €33,256 | +€629 | +1.9% |
| Trade debts | 44 | €30,094 | €55,057 | +€24,963 | +82.9% |
| Suppliers | 440/4 | €30,094 | €55,057 | +€24,963 | +82.9% |
| Taxes, remuneration and social security | 45 | €240 | €0 | -€240 | -100% |
| Taxes | 450/3 | €240 | €0 | -€240 | -100% |
| Other amounts payable | 47/48 | €334,113 | €401,297 | +€67,184 | +20.1% |
| Non-recurring operating income | 76A | €13,091 | €0 | -€13,091 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,259 | €26,750 | +€491 | +1.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €712 | €793 | +€81 | +11.4% |
| Gross operating margin | 9900 | -€40,767 | -€37,533 | +€3,234 | +7.9% |
| Operating profit (loss) | 9901 | -€67,738 | -€65,076 | +€2,661 | +3.9% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €5,209 | €4,460 | -€749 | -14.4% |
| Recurring financial charges | 65 | €5,209 | €4,460 | -€749 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | -€72,947 | -€69,537 | +€3,410 | +4.7% |
| Income taxes | 67/77 | €54 | €0 | -€54 | -100% |
| Profit (loss) for the period | 9904 | -€73,001 | -€69,537 | +€3,464 | +4.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€73,001 | -€69,537 | +€3,464 | +4.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.