MUSTAFA WALI: 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.
MUSTAFA WALI
Largest movements
- Stocks and contracts +€19,525
new in 2025: €19,525
- Cash -€6,760
down €6,760 (-42.3%), from €15,972 to €9,212
mainly Stocks and contracts (-€19,525) and Net result for the year (-€4,873)
- Receivables within one year -€2,182
no longer reported in 2025 (was €2,182)
- Tangible fixed assets -€1,535
down €1,535 (-48.7%), from €3,151 to €1,616
- Intangible fixed assets -€990
down €990 (-51.4%), from €1,926 to €936
- Tax, wage and social debts +€15,535
up €15,535 (+559%), from €2,780 to €18,315
of which Remuneration and social security: +€15,415
- Profit (loss) carried forward -€4,873
down €4,873 (-145%), from -€3,354 to -€8,227
- Other debts -€2,330
down €2,330 (-11.2%), from €20,804 to €18,474
- Advances received -€1,500
no longer reported in 2025 (was €1,500)
- Trade debts +€1,374
new in 2025: €1,374
- Turnover +€307,918
new in 2025: €307,918
- Purchases and services +€277,119
new in 2025: €277,119
- Staff costs -€8,242
down €8,242 (-20.0%), from €41,173 to €32,931
- Gross operating margin -€7,707
down €7,707 (-18.7%), from €41,167 to €33,460
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 | €23,230 | €31,437 | +€8,206 | +35.3% |
| Fixed assets | 21/28 | €5,077 | €2,552 | -€2,525 | -49.7% |
| Intangible fixed assets | 21 | €1,926 | €936 | -€990 | -51.4% |
| Tangible fixed assets | 22/27 | €3,151 | €1,616 | -€1,535 | -48.7% |
| Furniture and vehicles | 24 | €3,151 | €1,616 | -€1,535 | -48.7% |
| Current assets | 29/58 | €18,153 | €28,884 | +€10,731 | +59.1% |
| Stocks and contracts in progress | 3 | - | €19,525 | +€19,525 | |
| Stocks | 30/36 | - | €19,525 | +€19,525 | |
| Amounts receivable within one year | 40/41 | €2,182 | - | -€2,182 | |
| Trade receivables | 40 | €2,182 | - | -€2,182 | |
| Cash at bank and in hand | 54/58 | €15,972 | €9,212 | -€6,760 | -42.3% |
| Deferred charges and accrued income | 490/1 | - | €148 | +€148 | |
| Total equity and liabilities | 10/49 | €23,230 | €31,437 | +€8,206 | +35.3% |
| Equity | 10/15 | -€1,854 | -€6,727 | -€4,873 | -263% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,354 | -€8,227 | -€4,873 | -145% |
| Amounts payable | 17/49 | €25,085 | €38,163 | +€13,079 | +52.1% |
| Amounts payable within one year | 42/48 | €25,085 | €38,163 | +€13,079 | +52.1% |
| Trade debts | 44 | - | €1,374 | +€1,374 | |
| Suppliers | 440/4 | - | €1,374 | +€1,374 | |
| Advances received on contracts in progress | 46 | €1,500 | - | -€1,500 | |
| Taxes, remuneration and social security | 45 | €2,780 | €18,315 | +€15,535 | +559% |
| Taxes | 450/3 | €2,780 | €2,899 | +€119 | +4.3% |
| Remuneration and social security | 454/9 | - | €15,415 | +€15,415 | |
| Other amounts payable | 47/48 | €20,804 | €18,474 | -€2,330 | -11.2% |
| Turnover | 70 | - | €307,918 | +€307,918 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €277,119 | +€277,119 | |
| Remuneration, social security and pensions | 62 | €41,173 | €32,931 | -€8,242 | -20.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,630 | €2,525 | +€895 | +54.9% |
| Other operating charges | 640/8 | €1,169 | €1,031 | -€138 | -11.8% |
| Non-recurring operating charges | 66A | - | €1,200 | +€1,200 | |
| Gross operating margin | 9900 | €41,167 | €33,460 | -€7,707 | -18.7% |
| Operating profit (loss) | 9901 | -€2,806 | -€4,227 | -€1,422 | -50.7% |
| Financial income | 75/76B | €2,476 | - | -€2,476 | |
| Recurring financial income | 75 | €2,476 | - | -€2,476 | |
| Financial charges | 65/66B | €2,408 | €645 | -€1,763 | -73.2% |
| Recurring financial charges | 65 | €2,408 | €645 | -€1,763 | -73.2% |
| Profit (loss) for the period before taxes | 9903 | -€2,738 | -€4,873 | -€2,135 | -78.0% |
| Profit (loss) for the period | 9904 | -€2,738 | -€4,873 | -€2,135 | -78.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,738 | -€4,873 | -€2,135 | -78.0% |
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 30 October 2026 via checked.be.