HALIL CENGIZ: 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.
HALIL CENGIZ
Largest movements
- Tangible fixed assets -€20,694
down €20,694 (-91.7%), from €22,578 to €1,884
of which Furniture and vehicles: -€19,958
- Cash +€6,066
up €6,066 (+24.5%), from €24,744 to €30,810
mainly Investment in fixed assets (net) (+€19,401) and Depreciation (+€1,293)
- Stocks and contracts +€3,958
up €3,958 (+28.9%), from €13,689 to €17,647
- Receivables within one year -€857
down €857 (-59.2%), from €1,449 to €592
of which Other amounts receivable: -€857
- Current portion of long-term debt -€5,889
down €5,889 (-58.1%), from €10,140 to €4,252
- Debts after one year -€4,252
down €4,252 (-100%), from €4,252 to €0
- Other debts -€1,975
down €1,975 (-82.3%), from €2,399 to €424
- Trade debts +€656
up €656 (+90.6%), from €724 to €1,380
- Depreciation -€14,294
down €14,294 (-91.7%), from €15,587 to €1,293
- Gross operating margin -€13,954
down €13,954 (-77.9%), from €17,909 to €3,955
- Other operating charges +€1,156
up €1,156 (+233%), from €495 to €1,652
- Financial charges -€236
down €236 (-19.3%), from €1,223 to €987
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 | €63,939 | €52,332 | -€11,607 | -18.2% |
| Fixed assets | 21/28 | €22,578 | €1,884 | -€20,694 | -91.7% |
| Tangible fixed assets | 22/27 | €22,578 | €1,884 | -€20,694 | -91.7% |
| Land and buildings | 22 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €2,385 | €1,649 | -€736 | -30.9% |
| Furniture and vehicles | 24 | €20,193 | €235 | -€19,958 | -98.8% |
| Current assets | 29/58 | €41,361 | €50,448 | +€9,087 | +22.0% |
| Stocks and contracts in progress | 3 | €13,689 | €17,647 | +€3,958 | +28.9% |
| Stocks | 30/36 | €13,689 | €17,647 | +€3,958 | +28.9% |
| Amounts receivable within one year | 40/41 | €1,449 | €592 | -€857 | -59.2% |
| Trade receivables | 40 | €0 | €0 | = | |
| Other amounts receivable | 41 | €1,449 | €592 | -€857 | -59.2% |
| Cash at bank and in hand | 54/58 | €24,744 | €30,810 | +€6,066 | +24.5% |
| Deferred charges and accrued income | 490/1 | €1,479 | €1,400 | -€79 | -5.4% |
| Total equity and liabilities | 10/49 | €63,939 | €52,332 | -€11,607 | -18.2% |
| Equity | 10/15 | €46,100 | €46,048 | -€52 | -0.1% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €27,100 | €27,048 | -€52 | -0.2% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €25,200 | €25,148 | -€52 | -0.2% |
| Amounts payable | 17/49 | €17,839 | €6,285 | -€11,554 | -64.8% |
| Amounts payable after more than one year | 17 | €4,252 | €0 | -€4,252 | -100% |
| Financial debts | 170/4 | €4,252 | €0 | -€4,252 | -100% |
| Amounts payable within one year | 42/48 | €13,587 | €6,285 | -€7,303 | -53.7% |
| Current portion of amounts payable after more than one year | 42 | €10,140 | €4,252 | -€5,889 | -58.1% |
| Trade debts | 44 | €724 | €1,380 | +€656 | +90.6% |
| Suppliers | 440/4 | €724 | €1,380 | +€656 | +90.6% |
| Taxes, remuneration and social security | 45 | €324 | €230 | -€94 | -29.1% |
| Taxes | 450/3 | €324 | €230 | -€94 | -29.1% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €2,399 | €424 | -€1,975 | -82.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,587 | €1,293 | -€14,294 | -91.7% |
| Other operating charges | 640/8 | €495 | €1,652 | +€1,156 | +233% |
| Non-recurring operating charges | 66A | €401 | - | -€401 | |
| Gross operating margin | 9900 | €17,909 | €3,955 | -€13,954 | -77.9% |
| Operating profit (loss) | 9901 | €1,426 | €1,011 | -€415 | -29.1% |
| Financial income | 75/76B | €0 | €2 | +€1 | +298% |
| Recurring financial income | 75 | €0 | €2 | +€1 | +298% |
| Financial charges | 65/66B | €1,223 | €987 | -€236 | -19.3% |
| Recurring financial charges | 65 | €1,223 | €987 | -€236 | -19.3% |
| Profit (loss) for the period before taxes | 9903 | €204 | €25 | -€178 | -87.5% |
| Income taxes | 67/77 | €81 | €78 | -€3 | -3.8% |
| Profit (loss) for the period | 9904 | €123 | -€52 | -€175 | |
| Profit (loss) for the period to be appropriated | 9905 | €123 | -€52 | -€175 |
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 14 October 2026 via checked.be.