CERCLE EQUESTRE ZEBRA: 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.
CERCLE EQUESTRE ZEBRA
Largest movements
- Tangible fixed assets +€17,780
up €17,780 (+3,325%), from €535 to €18,315
- Other debts +€16,333
up €16,333 (+75.4%), from €21,648 to €37,981
- Tax, wage and social debts -€1,000
down €1,000 (-47.4%), from €2,112 to €1,112
of which Taxes: -€1,073
- Accrued charges and deferred income +€945
up €945 (+150%), from €630 to €1,575
- Trade debts +€801
up €801 (+50.3%), from €1,592 to €2,393
- Profit (loss) carried forward +€791
up €791 (+2.0%), from -€39,598 to -€38,807
- Gross operating margin +€1,862
up €1,862 (+100%), from €1,860 to €3,722
- Staff costs +€1,250
new in 2025: €1,250
- Other operating charges -€579
down €579 (-50.1%), from €1,156 to €576
- Taxes +€402
up €402 (+202%), from €199 to €602
- Financial charges -€321
down €321 (-87.8%), from €366 to €45
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 | €4,984 | €22,854 | +€17,870 | +359% |
| Fixed assets | 21/28 | €591 | €18,499 | +€17,909 | +3,033% |
| Tangible fixed assets | 22/27 | €535 | €18,315 | +€17,780 | +3,325% |
| Furniture and vehicles | 24 | €535 | €18,315 | +€17,780 | +3,325% |
| Financial fixed assets | 28 | €56 | €184 | +€129 | +230% |
| Current assets | 29/58 | €4,394 | €4,355 | -€39 | -0.9% |
| Amounts receivable within one year | 40/41 | €2,704 | €2,695 | -€9 | -0.3% |
| Trade receivables | 40 | €2,704 | €2,695 | -€9 | -0.3% |
| Cash at bank and in hand | 54/58 | €1,618 | €1,511 | -€107 | -6.6% |
| Deferred charges and accrued income | 490/1 | €72 | €149 | +€77 | +107% |
| Total equity and liabilities | 10/49 | €4,984 | €22,854 | +€17,870 | +359% |
| Equity | 10/15 | -€20,998 | -€20,207 | +€791 | +3.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€39,598 | -€38,807 | +€791 | +2.0% |
| Amounts payable | 17/49 | €25,982 | €43,061 | +€17,078 | +65.7% |
| Amounts payable within one year | 42/48 | €25,352 | €41,486 | +€16,133 | +63.6% |
| Trade debts | 44 | €1,592 | €2,393 | +€801 | +50.3% |
| Suppliers | 440/4 | €1,592 | €2,393 | +€801 | +50.3% |
| Taxes, remuneration and social security | 45 | €2,112 | €1,112 | -€1,000 | -47.4% |
| Taxes | 450/3 | €2,112 | €1,039 | -€1,073 | -50.8% |
| Remuneration and social security | 454/9 | - | €72 | +€72 | |
| Other amounts payable | 47/48 | €21,648 | €37,981 | +€16,333 | +75.4% |
| Accrued charges and deferred income | 492/3 | €630 | €1,575 | +€945 | +150% |
| Remuneration, social security and pensions | 62 | - | €1,250 | +€1,250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €412 | €469 | +€57 | +13.8% |
| Other operating charges | 640/8 | €1,156 | €576 | -€579 | -50.1% |
| Gross operating margin | 9900 | €1,860 | €3,722 | +€1,862 | +100% |
| Operating profit (loss) | 9901 | €292 | €1,427 | +€1,135 | +388% |
| Financial income | 75/76B | - | €10 | +€10 | |
| Recurring financial income | 75 | - | €10 | +€10 | |
| Financial charges | 65/66B | €366 | €45 | -€321 | -87.8% |
| Recurring financial charges | 65 | €366 | €45 | -€321 | -87.8% |
| Profit (loss) for the period before taxes | 9903 | -€73 | €1,393 | +€1,466 | |
| Income taxes | 67/77 | €199 | €602 | +€402 | +202% |
| Profit (loss) for the period | 9904 | -€273 | €791 | +€1,064 | |
| Profit (loss) for the period to be appropriated | 9905 | -€273 | €791 | +€1,064 |
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 31 October 2026 via checked.be.