JAOUADI Hakim: 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.
JAOUADI Hakim
Largest movements
- Tangible fixed assets -€5,772
down €5,772 (-25.6%), from €22,504 to €16,732
of which Plant, machinery and equipment: -€3,157
- Cash +€4,968
up €4,968 (+18.9%), from €26,348 to €31,316
mainly Depreciation (+€6,812) and Other debts (+€4,648)
- Receivables within one year +€2,602
up €2,602 (+590%), from €441 to €3,043
of which Other amounts receivable: +€3,043
- Formation expenses +€1,152
new in 2025: €1,152
- Other debts +€4,648
up €4,648 (+75.0%), from €6,200 to €10,848
- Debts after one year -€4,165
down €4,165 (-46.6%), from €8,942 to €4,777
- Tax, wage and social debts +€2,365
up €2,365 (+46.4%), from €5,092 to €7,457
of which Remuneration and social security: +€3,072
- Gross operating margin -€26,366
down €26,366 (-30.9%), from €85,394 to €59,028
- Staff costs -€14,448
down €14,448 (-22.4%), from €64,392 to €49,944
- Depreciation +€1,076
up €1,076 (+18.8%), from €5,736 to €6,812
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 | €50,505 | €53,560 | +€3,055 | +6.0% |
| Formation expenses | 20 | - | €1,152 | +€1,152 | |
| Fixed assets | 21/28 | €22,504 | €16,732 | -€5,772 | -25.6% |
| Tangible fixed assets | 22/27 | €22,504 | €16,732 | -€5,772 | -25.6% |
| Plant, machinery and equipment | 23 | €11,785 | €8,628 | -€3,157 | -26.8% |
| Furniture and vehicles | 24 | €10,719 | €8,104 | -€2,615 | -24.4% |
| Current assets | 29/58 | €28,001 | €35,676 | +€7,675 | +27.4% |
| Stocks and contracts in progress | 3 | €1,212 | €1,317 | +€105 | +8.7% |
| Stocks | 30/36 | €1,212 | €1,317 | +€105 | +8.7% |
| Amounts receivable within one year | 40/41 | €441 | €3,043 | +€2,602 | +590% |
| Trade receivables | 40 | €441 | - | -€441 | |
| Other amounts receivable | 41 | - | €3,043 | +€3,043 | |
| Cash at bank and in hand | 54/58 | €26,348 | €31,316 | +€4,968 | +18.9% |
| Total equity and liabilities | 10/49 | €50,505 | €53,560 | +€3,055 | +6.0% |
| Equity | 10/15 | €19,754 | €19,582 | -€172 | -0.9% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,754 | €13,582 | -€172 | -1.3% |
| Amounts payable | 17/49 | €30,751 | €33,978 | +€3,227 | +10.5% |
| Amounts payable after more than one year | 17 | €8,942 | €4,777 | -€4,165 | -46.6% |
| Financial debts | 170/4 | €8,942 | €4,777 | -€4,165 | -46.6% |
| Amounts payable within one year | 42/48 | €21,809 | €29,201 | +€7,392 | +33.9% |
| Current portion of amounts payable after more than one year | 42 | €3,942 | €4,164 | +€222 | +5.6% |
| Trade debts | 44 | €6,575 | €6,732 | +€157 | +2.4% |
| Suppliers | 440/4 | €6,575 | €6,732 | +€157 | +2.4% |
| Taxes, remuneration and social security | 45 | €5,092 | €7,457 | +€2,365 | +46.4% |
| Taxes | 450/3 | €759 | €52 | -€707 | -93.1% |
| Remuneration and social security | 454/9 | €4,333 | €7,405 | +€3,072 | +70.9% |
| Other amounts payable | 47/48 | €6,200 | €10,848 | +€4,648 | +75.0% |
| Remuneration, social security and pensions | 62 | €64,392 | €49,944 | -€14,448 | -22.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,736 | €6,812 | +€1,076 | +18.8% |
| Other operating charges | 640/8 | €958 | €938 | -€20 | -2.1% |
| Non-recurring operating charges | 66A | €621 | - | -€621 | |
| Gross operating margin | 9900 | €85,394 | €59,028 | -€26,366 | -30.9% |
| Operating profit (loss) | 9901 | €13,687 | €1,334 | -€12,353 | -90.3% |
| Financial income | 75/76B | €400 | €37 | -€363 | -90.8% |
| Recurring financial income | 75 | €400 | €37 | -€363 | -90.8% |
| Financial charges | 65/66B | €1,867 | €1,542 | -€325 | -17.4% |
| Recurring financial charges | 65 | €1,867 | €1,542 | -€325 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | €12,220 | -€171 | -€12,391 | |
| Income taxes | 67/77 | €96 | €1 | -€95 | -99.0% |
| Profit (loss) for the period | 9904 | €12,124 | -€172 | -€12,296 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,124 | -€172 | -€12,296 |
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.