GHAZI MNEJJA: what changed
Two fiscal 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.
GHAZI MNEJJA
Largest movements
- Cash +€161,076
up €161,076 (+397.2%), from €40,549 to €201,624
mainly Net result for the year (+€177,178) and Tax, wage and social debts (+€42,518)
- Deferred charges and accrued income -€21,424
down €21,424 (-28.0%), from €76,419 to €54,996
- Tangible fixed assets -€10,220
down €10,220 (-25.3%), from €40,393 to €30,173
of which Furniture and vehicles: -€13,998
- Current investments +€5,889
new in 2025: €5,889
- Profit (loss) carried forward +€177,178
up €177,178 (+317.6%), from €55,788 to €232,966
- Other debts -€84,375
down €84,375 (-99.2%), from €85,015 to €640
- Tax, wage and social debts +€42,518
up €42,518 (+302.5%), from €14,057 to €56,576
- Gross operating margin +€178,587
up €178,587 (+249.7%), from €71,518 to €250,105
- Taxes +€41,574
up €41,574 (+295.8%), from €14,057 to €55,632
- Depreciation +€13,054
up €13,054 (+812.6%), from €1,606 to €14,660
- Other operating charges +€3,016
up €3,016 (+6032.9%), from €50 to €3,066
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.
Cash bridge derived
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 | €157,360 | €292,682 | +€135,322 | +86.0% |
| Fixed assets | 21/28 | €40,393 | €30,173 | -€10,220 | -25.3% |
| Tangible fixed assets | 22/27 | €40,393 | €30,173 | -€10,220 | -25.3% |
| Plant, machinery and equipment | 23 | - | €3,778 | +€3,778 | |
| Furniture and vehicles | 24 | €40,393 | €26,394 | -€13,998 | -34.7% |
| Current assets | 29/58 | €116,968 | €262,509 | +€145,542 | +124.4% |
| Current investments | 50/53 | - | €5,889 | +€5,889 | |
| Cash at bank and in hand | 54/58 | €40,549 | €201,624 | +€161,076 | +397.2% |
| Deferred charges and accrued income | 490/1 | €76,419 | €54,996 | -€21,424 | -28.0% |
| Total equity and liabilities | 10/49 | €157,360 | €292,682 | +€135,322 | +86.0% |
| Equity | 10/15 | €58,288 | €235,466 | +€177,178 | +304.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,788 | €232,966 | +€177,178 | +317.6% |
| Amounts payable | 17/49 | €99,072 | €57,216 | -€41,857 | -42.2% |
| Amounts payable within one year | 42/48 | €99,072 | €57,216 | -€41,857 | -42.2% |
| Taxes, remuneration and social security | 45 | €14,057 | €56,576 | +€42,518 | +302.5% |
| Taxes | 450/3 | €14,057 | €56,576 | +€42,518 | +302.5% |
| Other amounts payable | 47/48 | €85,015 | €640 | -€84,375 | -99.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,606 | €14,660 | +€13,054 | +812.6% |
| Other operating charges | 640/8 | €50 | €3,066 | +€3,016 | +6032.9% |
| Gross operating margin | 9900 | €71,518 | €250,105 | +€178,587 | +249.7% |
| Operating profit (loss) | 9901 | €69,861 | €232,378 | +€162,517 | +232.6% |
| Financial income | 75/76B | - | €620 | +€620 | |
| Recurring financial income | 75 | - | €620 | +€620 | |
| Financial charges | 65/66B | €16 | €188 | +€172 | +1077.7% |
| Recurring financial charges | 65 | €16 | €188 | +€172 | +1077.7% |
| Profit (loss) for the period before taxes | 9903 | €69,845 | €232,810 | +€162,965 | +233.3% |
| Income taxes | 67/77 | €14,057 | €55,632 | +€41,574 | +295.8% |
| Profit (loss) for the period | 9904 | €55,788 | €177,178 | +€121,391 | +217.6% |
| Profit (loss) for the period to be appropriated | 9905 | €55,788 | €177,178 | +€121,391 | +217.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.