Sabri Mzah: 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.
Sabri Mzah
Largest movements
- Receivables within one year +€103,055
up €103,055 (+31.1%), from €331,599 to €434,654
of which Other amounts receivable: +€99,676
- Cash +€57,492
up €57,492 (+18.2%), from €316,669 to €374,161
mainly Net result for the year (+€254,134) and Current portion of long-term debt (+€60,240)
- Tangible fixed assets +€10,672
up €10,672 (+109%), from €9,792 to €20,464
- Profit (loss) carried forward +€124,134
up €124,134 (+81.6%), from €152,065 to €276,200
- Current portion of long-term debt +€60,240
up €60,240 (+186%), from €32,318 to €92,558
- Other debts +€53,868
up €53,868 (+19.9%), from €270,767 to €324,635
- Tax, wage and social debts -€42,054
down €42,054 (-43.4%), from €96,834 to €54,780
- Debts after one year -€32,558
down €32,558 (-44.2%), from €73,596 to €41,038
- Gross operating margin +€60,704
up €60,704 (+20.8%), from €291,360 to €352,063
- Taxes +€12,379
up €12,379 (+17.1%), from €72,584 to €84,963
- Financial charges +€3,604
up €3,604 (+25.5%), from €14,130 to €17,734
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 | €671,041 | €843,185 | +€172,143 | +25.7% |
| Fixed assets | 21/28 | €9,792 | €20,464 | +€10,672 | +109% |
| Tangible fixed assets | 22/27 | €9,792 | €20,464 | +€10,672 | +109% |
| Furniture and vehicles | 24 | €9,792 | €20,464 | +€10,672 | +109% |
| Current assets | 29/58 | €661,249 | €822,720 | +€161,471 | +24.4% |
| Amounts receivable within one year | 40/41 | €331,599 | €434,654 | +€103,055 | +31.1% |
| Trade receivables | 40 | €7,075 | €10,454 | +€3,379 | +47.8% |
| Other amounts receivable | 41 | €324,524 | €424,200 | +€99,676 | +30.7% |
| Cash at bank and in hand | 54/58 | €316,669 | €374,161 | +€57,492 | +18.2% |
| Deferred charges and accrued income | 490/1 | €12,981 | €13,905 | +€924 | +7.1% |
| Total equity and liabilities | 10/49 | €671,041 | €843,185 | +€172,143 | +25.7% |
| Equity | 10/15 | €182,065 | €306,200 | +€124,134 | +68.2% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €152,065 | €276,200 | +€124,134 | +81.6% |
| Amounts payable | 17/49 | €488,976 | €536,985 | +€48,009 | +9.8% |
| Amounts payable after more than one year | 17 | €73,596 | €41,038 | -€32,558 | -44.2% |
| Financial debts | 170/4 | €73,596 | €41,038 | -€32,558 | -44.2% |
| Amounts payable within one year | 42/48 | €401,876 | €480,381 | +€78,505 | +19.5% |
| Current portion of amounts payable after more than one year | 42 | €32,318 | €92,558 | +€60,240 | +186% |
| Trade debts | 44 | €1,958 | €8,409 | +€6,451 | +329% |
| Suppliers | 440/4 | €1,958 | €8,409 | +€6,451 | +329% |
| Taxes, remuneration and social security | 45 | €96,834 | €54,780 | -€42,054 | -43.4% |
| Taxes | 450/3 | €96,834 | €54,780 | -€42,054 | -43.4% |
| Other amounts payable | 47/48 | €270,767 | €324,635 | +€53,868 | +19.9% |
| Accrued charges and deferred income | 492/3 | €13,504 | €15,566 | +€2,062 | +15.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,869 | €5,128 | +€1,260 | +32.6% |
| Other operating charges | 640/8 | €1,561 | €619 | -€941 | -60.3% |
| Gross operating margin | 9900 | €291,360 | €352,063 | +€60,704 | +20.8% |
| Operating profit (loss) | 9901 | €285,930 | €346,316 | +€60,385 | +21.1% |
| Financial income | 75/76B | €13,584 | €10,516 | -€3,068 | -22.6% |
| Recurring financial income | 75 | €13,584 | €10,516 | -€3,068 | -22.6% |
| Financial charges | 65/66B | €14,130 | €17,734 | +€3,604 | +25.5% |
| Recurring financial charges | 65 | €14,130 | €17,734 | +€3,604 | +25.5% |
| Profit (loss) for the period before taxes | 9903 | €285,384 | €339,097 | +€53,713 | +18.8% |
| Income taxes | 67/77 | €72,584 | €84,963 | +€12,379 | +17.1% |
| Profit (loss) for the period | 9904 | €212,800 | €254,134 | +€41,334 | +19.4% |
| Profit (loss) for the period to be appropriated | 9905 | €212,800 | €254,134 | +€41,334 | +19.4% |
Source: filed annual accounts (NBB), financial years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.