HADDOUTI: 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.
HADDOUTI
Largest movements
- Receivables within one year +€47,914
up €47,914 (+158%), from €30,364 to €78,278
of which Trade receivables: +€47,371
- Tangible fixed assets -€8,789
down €8,789 (-47.4%), from €18,527 to €9,738
of which Plant, machinery and equipment: -€4,828
- Stocks and contracts +€5,041
up €5,041 (+130%), from €3,875 to €8,916
- Trade debts +€39,846
up €39,846 (+168%), from €23,710 to €63,555
- Profit (loss) carried forward +€8,071
up €8,071 (+17.8%), from €45,462 to €53,533
- Tax, wage and social debts -€5,229
down €5,229 (-64.6%), from €8,089 to €2,860
of which Remuneration and social security: -€3,300
- Other debts +€3,018
up €3,018 (+375%), from €805 to €3,823
- Purchases and services +€400,233
new in 2025: €400,233
- Gross operating margin -€34,977
down €34,977 (-21.7%), from €161,069 to €126,092
- Depreciation +€5,134
up €5,134 (+140%), from €3,655 to €8,789
- Staff costs +€2,679
up €2,679 (+2.7%), from €99,702 to €102,381
- Taxes -€1,757
no longer reported in 2025 (was €1,757)
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 | €98,526 | €144,232 | +€45,706 | +46.4% |
| Fixed assets | 21/28 | €18,827 | €10,038 | -€8,789 | -46.7% |
| Tangible fixed assets | 22/27 | €18,527 | €9,738 | -€8,789 | -47.4% |
| Plant, machinery and equipment | 23 | €7,453 | €2,625 | -€4,828 | -64.8% |
| Furniture and vehicles | 24 | €11,074 | €7,113 | -€3,961 | -35.8% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €79,699 | €134,194 | +€54,495 | +68.4% |
| Stocks and contracts in progress | 3 | €3,875 | €8,916 | +€5,041 | +130% |
| Stocks | 30/36 | €3,875 | €8,916 | +€5,041 | +130% |
| Amounts receivable within one year | 40/41 | €30,364 | €78,278 | +€47,914 | +158% |
| Trade receivables | 40 | €25,107 | €72,478 | +€47,371 | +189% |
| Other amounts receivable | 41 | €5,258 | €5,800 | +€543 | +10.3% |
| Cash at bank and in hand | 54/58 | €45,460 | €46,757 | +€1,297 | +2.9% |
| Deferred charges and accrued income | 490/1 | - | €243 | +€243 | |
| Total equity and liabilities | 10/49 | €98,526 | €144,232 | +€45,706 | +46.4% |
| Equity | 10/15 | €65,922 | €73,993 | +€8,071 | +12.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €45,462 | €53,533 | +€8,071 | +17.8% |
| Amounts payable | 17/49 | €32,604 | €70,239 | +€37,635 | +115% |
| Amounts payable within one year | 42/48 | €32,604 | €70,239 | +€37,635 | +115% |
| Trade debts | 44 | €23,710 | €63,555 | +€39,846 | +168% |
| Suppliers | 440/4 | €23,710 | €63,555 | +€39,846 | +168% |
| Taxes, remuneration and social security | 45 | €8,089 | €2,860 | -€5,229 | -64.6% |
| Taxes | 450/3 | €4,789 | €2,860 | -€1,928 | -40.3% |
| Remuneration and social security | 454/9 | €3,300 | - | -€3,300 | |
| Other amounts payable | 47/48 | €805 | €3,823 | +€3,018 | +375% |
| Non-recurring operating income | 76A | €1,653 | - | -€1,653 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €400,233 | +€400,233 | |
| Remuneration, social security and pensions | 62 | €99,702 | €102,381 | +€2,679 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,655 | €8,789 | +€5,134 | +140% |
| Other operating charges | 640/8 | €5,319 | €6,747 | +€1,427 | +26.8% |
| Gross operating margin | 9900 | €161,069 | €126,092 | -€34,977 | -21.7% |
| Operating profit (loss) | 9901 | €52,393 | €8,176 | -€44,217 | -84.4% |
| Financial income | 75/76B | €288 | €4 | -€284 | -98.5% |
| Recurring financial income | 75 | €288 | €4 | -€284 | -98.5% |
| Financial charges | 65/66B | €122 | €109 | -€13 | -11.0% |
| Recurring financial charges | 65 | €122 | €109 | -€13 | -11.0% |
| Profit (loss) for the period before taxes | 9903 | €52,558 | €8,071 | -€44,487 | -84.6% |
| Income taxes | 67/77 | €1,757 | - | -€1,757 | |
| Profit (loss) for the period | 9904 | €50,801 | €8,071 | -€42,730 | -84.1% |
| Profit (loss) for the period to be appropriated | 9905 | €50,801 | €8,071 | -€42,730 | -84.1% |
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 25 October 2026 via checked.be.