HAIDAR GROUP: 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.
HAIDAR GROUP
Largest movements
- Receivables within one year +€20,528
up €20,528 (+117%), from €17,588 to €38,116
of which Trade receivables: +€21,060
- Cash -€20,209
down €20,209 (-29.9%), from €67,505 to €47,296
mainly Receivables within one year (-€20,528) and Stocks and contracts (-€18,295)
- Stocks and contracts +€18,295
up €18,295 (+44.9%), from €40,769 to €59,064
- Tangible fixed assets +€3,138
up €3,138 (+149%), from €2,112 to €5,250
- Profit (loss) carried forward +€19,531
up €19,531 (+30.0%), from €65,105 to €84,636
- Tax, wage and social debts +€3,859
up €3,859 (+149%), from €2,598 to €6,456
- Other debts -€1,666
down €1,666 (-4.2%), from €39,832 to €38,166
- Gross operating margin +€19,204
up €19,204 (+160%), from €12,022 to €31,226
- Taxes +€3,859
up €3,859 (+149%), from €2,598 to €6,456
- Other operating charges +€2,149
up €2,149 (+183%), from €1,174 to €3,323
- Depreciation -€542
down €542 (-25.7%), from €2,112 to €1,569
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 | €128,647 | €151,349 | +€22,702 | +17.6% |
| Fixed assets | 21/28 | €2,112 | €5,250 | +€3,138 | +149% |
| Tangible fixed assets | 22/27 | €2,112 | €5,250 | +€3,138 | +149% |
| Furniture and vehicles | 24 | €2,112 | €5,250 | +€3,138 | +149% |
| Current assets | 29/58 | €126,536 | €146,100 | +€19,564 | +15.5% |
| Stocks and contracts in progress | 3 | €40,769 | €59,064 | +€18,295 | +44.9% |
| Stocks | 30/36 | €40,769 | €59,064 | +€18,295 | +44.9% |
| Amounts receivable within one year | 40/41 | €17,588 | €38,116 | +€20,528 | +117% |
| Trade receivables | 40 | €7,730 | €28,790 | +€21,060 | +272% |
| Other amounts receivable | 41 | €9,858 | €9,326 | -€533 | -5.4% |
| Cash at bank and in hand | 54/58 | €67,505 | €47,296 | -€20,209 | -29.9% |
| Deferred charges and accrued income | 490/1 | €674 | €1,624 | +€950 | +141% |
| Total equity and liabilities | 10/49 | €128,647 | €151,349 | +€22,702 | +17.6% |
| Equity | 10/15 | €83,789 | €103,319 | +€19,531 | +23.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €83 | €83 | = | 0.0% |
| Non-distributable reserves | 130/1 | - | €83 | +€83 | |
| Reserves not available under the articles | 1311 | - | €83 | +€83 | |
| Distributable reserves | 133 | €83 | €0 | -€83 | -100% |
| Profit (loss) carried forward | 14 | €65,105 | €84,636 | +€19,531 | +30.0% |
| Amounts payable | 17/49 | €44,858 | €48,030 | +€3,172 | +7.1% |
| Amounts payable within one year | 42/48 | €44,858 | €48,030 | +€3,172 | +7.1% |
| Financial debts | 43 | €84 | €0 | -€84 | -100% |
| Credit institutions | 430/8 | €84 | €0 | -€84 | -100% |
| Trade debts | 44 | €2,345 | €3,408 | +€1,063 | +45.3% |
| Suppliers | 440/4 | €2,345 | €3,408 | +€1,063 | +45.3% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €2,598 | €6,456 | +€3,859 | +149% |
| Taxes | 450/3 | €2,598 | €6,456 | +€3,859 | +149% |
| Other amounts payable | 47/48 | €39,832 | €38,166 | -€1,666 | -4.2% |
| Non-recurring operating income | 76A | - | €1,888 | +€1,888 | |
| Remuneration, social security and pensions | 62 | €0 | €83 | +€83 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,112 | €1,569 | -€542 | -25.7% |
| Other operating charges | 640/8 | €1,174 | €3,323 | +€2,149 | +183% |
| Gross operating margin | 9900 | €12,022 | €31,226 | +€19,204 | +160% |
| Operating profit (loss) | 9901 | €8,736 | €26,251 | +€17,515 | +200% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €161 | €264 | +€103 | +63.6% |
| Recurring financial charges | 65 | €161 | €264 | +€103 | +63.6% |
| Profit (loss) for the period before taxes | 9903 | €8,575 | €25,987 | +€17,412 | +203% |
| Income taxes | 67/77 | €2,598 | €6,456 | +€3,859 | +149% |
| Profit (loss) for the period | 9904 | €5,977 | €19,531 | +€13,553 | +227% |
| Profit (loss) for the period to be appropriated | 9905 | €5,977 | €19,531 | +€13,553 | +227% |
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.