DR WAEL ELSAYED: 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.
DR WAEL ELSAYED
Largest movements
- Receivables within one year +€32,984
up €32,984 (+549.6%), from €6,002 to €38,985
of which Other amounts receivable: +€33,064
- Cash +€29,215
up €29,215 (+14.8%), from €197,473 to €226,687
mainly Net result for the year (+€91,518) and Depreciation (+€1,308)
- Financial fixed assets +€8,850
new in 2024: €8,850
- Profit (loss) carried forward +€91,518
up €91,518 (+51.1%), from €178,976 to €270,494
- Tax, wage and social debts -€19,936
down €19,936 (-90.1%), from €22,131 to €2,195
of which Taxes: -€19,936
- Gross operating margin +€20,936
up €20,936 (+20.2%), from €103,486 to €124,422
- Other operating charges +€5,201
up €5,201 (+1160.7%), from €448 to €5,649
- Taxes +€5,064
up €5,064 (+24.5%), from €20,631 to €25,695
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €206,595 | €276,539 | +€69,944 | +33.9% |
| Fixed assets | 21/28 | €1,993 | €10,866 | +€8,873 | +445.2% |
| Tangible fixed assets | 22/27 | €1,993 | €2,016 | +€23 | +1.2% |
| Plant, machinery and equipment | 23 | €1,993 | €2,016 | +€23 | +1.2% |
| Financial fixed assets | 28 | - | €8,850 | +€8,850 | |
| Current assets | 29/58 | €204,602 | €265,673 | +€61,071 | +29.8% |
| Amounts receivable within one year | 40/41 | €6,002 | €38,985 | +€32,984 | +549.6% |
| Trade receivables | 40 | €803 | €723 | -€80 | -10.0% |
| Other amounts receivable | 41 | €5,199 | €38,263 | +€33,064 | +635.9% |
| Cash at bank and in hand | 54/58 | €197,473 | €226,687 | +€29,215 | +14.8% |
| Deferred charges and accrued income | 490/1 | €1,127 | €0 | -€1,127 | -100.0% |
| Total equity and liabilities | 10/49 | €206,595 | €276,539 | +€69,944 | +33.9% |
| Equity | 10/15 | €180,976 | €272,494 | +€91,518 | +50.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €178,976 | €270,494 | +€91,518 | +51.1% |
| Amounts payable | 17/49 | €25,619 | €4,045 | -€21,573 | -84.2% |
| Amounts payable within one year | 42/48 | €25,619 | €4,045 | -€21,573 | -84.2% |
| Trade debts | 44 | €1,070 | €498 | -€572 | -53.5% |
| Suppliers | 440/4 | €1,070 | €498 | -€572 | -53.5% |
| Taxes, remuneration and social security | 45 | €22,131 | €2,195 | -€19,936 | -90.1% |
| Taxes | 450/3 | €20,631 | €695 | -€19,936 | -96.6% |
| Remuneration and social security | 454/9 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 47/48 | €2,417 | €1,353 | -€1,065 | -44.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €849 | €1,308 | +€459 | +54.1% |
| Other operating charges | 640/8 | €448 | €5,649 | +€5,201 | +1160.7% |
| Gross operating margin | 9900 | €103,486 | €124,422 | +€20,936 | +20.2% |
| Operating profit (loss) | 9901 | €102,189 | €117,466 | +€15,277 | +14.9% |
| Financial charges | 65/66B | €105 | €254 | +€149 | +142.8% |
| Recurring financial charges | 65 | €105 | €254 | +€149 | +142.8% |
| Profit (loss) for the period before taxes | 9903 | €102,085 | €117,212 | +€15,127 | +14.8% |
| Income taxes | 67/77 | €20,631 | €25,695 | +€5,064 | +24.5% |
| Profit (loss) for the period | 9904 | €81,454 | €91,518 | +€10,064 | +12.4% |
| Profit (loss) for the period to be appropriated | 9905 | €81,454 | €91,518 | +€10,064 | +12.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.