EL FAJAR: 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.
EL FAJAR
Largest movements
- Receivables within one year +€26,482
up €26,482 (+10,899%), from €243 to €26,725
of which Trade receivables: +€19,590
- Cash -€1,436
down €1,436 (-20.2%), from €7,122 to €5,686
mainly Receivables within one year (-€26,482) and Trade debts (-€16,446)
- Profit (loss) carried forward +€23,650
up €23,650, from -€19,045 to €4,605
- Trade debts -€16,446
down €16,446 (-74.5%), from €22,063 to €5,617
- Other debts +€13,925
up €13,925 (+38.9%), from €35,777 to €49,702
- Tax, wage and social debts +€3,297
up €3,297 (+100%), from €3,291 to €6,588
of which Remuneration and social security: +€3,584
- Staff costs +€14,415
up €14,415 (+67.4%), from €21,384 to €35,799
- Gross operating margin +€5,586
up €5,586 (+10.4%), from €53,932 to €59,517
- Financial charges +€1,209
up €1,209, from -€1,140 to €69
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 | €54,481 | €78,907 | +€24,426 | +44.8% |
| Current assets | 29/58 | €54,481 | €78,907 | +€24,426 | +44.8% |
| Stocks and contracts in progress | 3 | €42,479 | €41,859 | -€620 | -1.5% |
| Stocks | 30/36 | €42,479 | €41,859 | -€620 | -1.5% |
| Amounts receivable within one year | 40/41 | €243 | €26,725 | +€26,482 | +10,899% |
| Trade receivables | 40 | - | €19,590 | +€19,590 | |
| Other amounts receivable | 41 | €243 | €7,135 | +€6,892 | +2,837% |
| Cash at bank and in hand | 54/58 | €7,122 | €5,686 | -€1,436 | -20.2% |
| Deferred charges and accrued income | 490/1 | €4,637 | €4,637 | = | 0.0% |
| Total equity and liabilities | 10/49 | €54,481 | €78,907 | +€24,426 | +44.8% |
| Equity | 10/15 | -€6,650 | €17,000 | +€23,650 | |
| Contributions | 10/11 | €12,395 | €12,395 | = | 0.0% |
| Contributions outside capital | 11 | €12,395 | €12,395 | = | 0.0% |
| Other | 1109/19 | €12,395 | €12,395 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,045 | €4,605 | +€23,650 | |
| Amounts payable | 17/49 | €61,131 | €61,907 | +€776 | +1.3% |
| Amounts payable within one year | 42/48 | €61,131 | €61,907 | +€776 | +1.3% |
| Trade debts | 44 | €22,063 | €5,617 | -€16,446 | -74.5% |
| Suppliers | 440/4 | €22,063 | €5,617 | -€16,446 | -74.5% |
| Taxes, remuneration and social security | 45 | €3,291 | €6,588 | +€3,297 | +100% |
| Taxes | 450/3 | €3,291 | €3,004 | -€287 | -8.7% |
| Remuneration and social security | 454/9 | - | €3,584 | +€3,584 | |
| Other amounts payable | 47/48 | €35,777 | €49,702 | +€13,925 | +38.9% |
| Remuneration, social security and pensions | 62 | €21,384 | €35,799 | +€14,415 | +67.4% |
| Gross operating margin | 9900 | €53,932 | €59,517 | +€5,586 | +10.4% |
| Operating profit (loss) | 9901 | €32,548 | €23,719 | -€8,829 | -27.1% |
| Financial charges | 65/66B | -€1,140 | €69 | +€1,209 | |
| Recurring financial charges | 65 | -€1,140 | €69 | +€1,209 | |
| Profit (loss) for the period before taxes | 9903 | €33,688 | €23,650 | -€10,038 | -29.8% |
| Profit (loss) for the period | 9904 | €33,688 | €23,650 | -€10,038 | -29.8% |
| Profit (loss) for the period to be appropriated | 9905 | €33,688 | €23,650 | -€10,038 | -29.8% |
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 17 October 2026 via checked.be.