SHEIKH ZAIN: 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.
SHEIKH ZAIN
Largest movements
- Cash -€11,430
down €11,430 (-62.9%), from €18,161 to €6,731
mainly Other debts (-€9,203) and Trade debts (-€7,618)
- Receivables within one year +€876
new in 2025: €876
- Other debts -€9,203
down €9,203 (-36.6%), from €25,126 to €15,923
- Trade debts -€7,618
down €7,618 (-33.7%), from €22,595 to €14,977
- Profit (loss) carried forward +€4,464
up €4,464 (+17.1%), from -€26,114 to -€21,649
- Tax, wage and social debts +€1,495
up €1,495 (+77.8%), from €1,921 to €3,415
- Gross operating margin -€4,020
down €4,020 (-25.8%), from €15,609 to €11,589
- Other operating charges -€2,889
down €2,889 (-46.6%), from €6,202 to €3,314
- Depreciation -€296
down €296 (-73.9%), from €400 to €104
- Taxes +€280
new in 2025: €280
- Financial charges +€161
up €161 (+4.8%), from €3,331 to €3,492
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 | €42,121 | €31,537 | -€10,583 | -25.1% |
| Fixed assets | 21/28 | €7,047 | €6,992 | -€54 | -0.8% |
| Tangible fixed assets | 22/27 | €104 | - | -€104 | |
| Furniture and vehicles | 24 | €104 | - | -€104 | |
| Financial fixed assets | 28 | €6,942 | €6,992 | +€50 | +0.7% |
| Current assets | 29/58 | €35,074 | €24,545 | -€10,529 | -30.0% |
| Stocks and contracts in progress | 3 | €16,913 | €16,698 | -€215 | -1.3% |
| Stocks | 30/36 | €16,913 | €16,698 | -€215 | -1.3% |
| Amounts receivable within one year | 40/41 | - | €876 | +€876 | |
| Trade receivables | 40 | - | €876 | +€876 | |
| Cash at bank and in hand | 54/58 | €18,161 | €6,731 | -€11,430 | -62.9% |
| Deferred charges and accrued income | 490/1 | - | €239 | +€239 | |
| Total equity and liabilities | 10/49 | €42,121 | €31,537 | -€10,583 | -25.1% |
| Equity | 10/15 | -€7,522 | -€3,057 | +€4,464 | +59.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,114 | -€21,649 | +€4,464 | +17.1% |
| Amounts payable | 17/49 | €49,642 | €34,594 | -€15,048 | -30.3% |
| Amounts payable within one year | 42/48 | €49,642 | €34,315 | -€15,327 | -30.9% |
| Trade debts | 44 | €22,595 | €14,977 | -€7,618 | -33.7% |
| Suppliers | 440/4 | €22,595 | €14,977 | -€7,618 | -33.7% |
| Taxes, remuneration and social security | 45 | €1,921 | €3,415 | +€1,495 | +77.8% |
| Taxes | 450/3 | €1,921 | €3,415 | +€1,495 | +77.8% |
| Other amounts payable | 47/48 | €25,126 | €15,923 | -€9,203 | -36.6% |
| Accrued charges and deferred income | 492/3 | - | €279 | +€279 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €400 | €104 | -€296 | -73.9% |
| Other operating charges | 640/8 | €6,202 | €3,314 | -€2,889 | -46.6% |
| Non-recurring operating charges | 66A | €1,653 | - | -€1,653 | |
| Gross operating margin | 9900 | €15,609 | €11,589 | -€4,020 | -25.8% |
| Operating profit (loss) | 9901 | €7,354 | €8,171 | +€817 | +11.1% |
| Financial income | 75/76B | - | €66 | +€66 | |
| Recurring financial income | 75 | - | €66 | +€66 | |
| Financial charges | 65/66B | €3,331 | €3,492 | +€161 | +4.8% |
| Recurring financial charges | 65 | €3,331 | €3,492 | +€161 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | €4,023 | €4,745 | +€722 | +17.9% |
| Income taxes | 67/77 | - | €280 | +€280 | |
| Profit (loss) for the period | 9904 | €4,023 | €4,464 | +€442 | +11.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,023 | €4,464 | +€442 | +11.0% |
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 23 October 2026 via checked.be.