FAHAD: 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.
FAHAD
Largest movements
- Cash -€78,039
down €78,039 (-98.6%), from €79,181 to €1,142
mainly Net result for the year (-€46,408) and Trade debts (-€11,013)
- Stocks and contracts +€9,032
up €9,032 (+73.6%), from €12,280 to €21,312
- Tangible fixed assets -€7,346
down €7,346 (-23.3%), from €31,539 to €24,193
of which Furniture and vehicles: -€9,291
- Receivables within one year +€3,224
new in 2025: €3,224
- Profit (loss) carried forward -€46,408
down €46,408, from €14,204 to -€32,204
- Trade debts -€11,013
down €11,013 (-20.6%), from €53,531 to €42,518
- Debts after one year -€10,614
down €10,614 (-59.1%), from €17,965 to €7,352
- Tax, wage and social debts -€7,922
down €7,922 (-59.7%), from €13,262 to €5,340
of which Remuneration and social security: -€4,736
- Other debts +€1,992
new in 2025: €1,992
- Turnover -€288,520
down €288,520 (-25.7%), from €1.1m to €834,985
- Purchases and services -€257,442
down €257,442 (-23.8%), from €1.1m to €822,379
- Gross operating margin -€31,004
down €31,004 (-65.7%), from €47,187 to €16,183
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 | €123,359 | €49,871 | -€73,488 | -59.6% |
| Fixed assets | 21/28 | €31,539 | €24,193 | -€7,346 | -23.3% |
| Tangible fixed assets | 22/27 | €31,539 | €24,193 | -€7,346 | -23.3% |
| Furniture and vehicles | 24 | €31,539 | €22,248 | -€9,291 | -29.5% |
| Other tangible fixed assets | 26 | - | €1,945 | +€1,945 | |
| Current assets | 29/58 | €91,820 | €25,678 | -€66,142 | -72.0% |
| Stocks and contracts in progress | 3 | €12,280 | €21,312 | +€9,032 | +73.6% |
| Stocks | 30/36 | €12,280 | €21,312 | +€9,032 | +73.6% |
| Amounts receivable within one year | 40/41 | - | €3,224 | +€3,224 | |
| Trade receivables | 40 | - | €3,224 | +€3,224 | |
| Cash at bank and in hand | 54/58 | €79,181 | €1,142 | -€78,039 | -98.6% |
| Deferred charges and accrued income | 490/1 | €360 | - | -€360 | |
| Total equity and liabilities | 10/49 | €123,359 | €49,871 | -€73,488 | -59.6% |
| Equity | 10/15 | €28,464 | -€17,944 | -€46,408 | |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,204 | -€32,204 | -€46,408 | |
| Amounts payable | 17/49 | €94,895 | €67,815 | -€27,080 | -28.5% |
| Amounts payable after more than one year | 17 | €17,965 | €7,352 | -€10,614 | -59.1% |
| Financial debts | 170/4 | €17,965 | €7,352 | -€10,614 | -59.1% |
| Amounts payable within one year | 42/48 | €76,930 | €60,464 | -€16,466 | -21.4% |
| Current portion of amounts payable after more than one year | 42 | €10,137 | €10,614 | +€476 | +4.7% |
| Trade debts | 44 | €53,531 | €42,518 | -€11,013 | -20.6% |
| Suppliers | 440/4 | €53,531 | €42,518 | -€11,013 | -20.6% |
| Taxes, remuneration and social security | 45 | €13,262 | €5,340 | -€7,922 | -59.7% |
| Taxes | 450/3 | €4,023 | €836 | -€3,186 | -79.2% |
| Remuneration and social security | 454/9 | €9,239 | €4,504 | -€4,736 | -51.3% |
| Other amounts payable | 47/48 | - | €1,992 | +€1,992 | |
| Turnover | 70 | €1,123,506 | €834,985 | -€288,520 | -25.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,079,821 | €822,379 | -€257,442 | -23.8% |
| Remuneration, social security and pensions | 62 | €50,700 | €46,139 | -€4,562 | -9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,291 | €9,543 | +€252 | +2.7% |
| Other operating charges | 640/8 | €2,107 | €5,629 | +€3,521 | +167% |
| Gross operating margin | 9900 | €47,187 | €16,183 | -€31,004 | -65.7% |
| Operating profit (loss) | 9901 | -€14,912 | -€45,127 | -€30,215 | -203% |
| Financial income | 75/76B | - | €4 | +€4 | |
| Recurring financial income | 75 | - | €4 | +€4 | |
| Financial charges | 65/66B | €2,623 | €1,286 | -€1,337 | -51.0% |
| Recurring financial charges | 65 | €2,623 | €1,286 | -€1,337 | -51.0% |
| Profit (loss) for the period before taxes | 9903 | -€17,534 | -€46,408 | -€28,874 | -165% |
| Income taxes | 67/77 | €499 | - | -€499 | |
| Profit (loss) for the period | 9904 | -€18,034 | -€46,408 | -€28,375 | -157% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,034 | -€46,408 | -€28,375 | -157% |
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 18 October 2026 via checked.be.