CHRISTIAN ZOA: what changed
CHRISTIAN ZOA
Largest movements
- Receivables within one year +€122,631
up €122,631 (+198%), from €62,076 to €184,707
of which Other amounts receivable: +€114,094
- Cash -€96,801
down €96,801 (-36.6%), from €264,201 to €167,400
mainly Contributions, distributions and other (-€194,334) and Receivables within one year (-€122,631)
- Tangible fixed assets -€81,816
down €81,816 (-17.9%), from €455,940 to €374,123
of which Furniture and vehicles: -€59,483
- Reserves -€121,201
down €121,201 (-32.4%), from €373,996 to €252,795
- Other debts +€119,137
up €119,137 (+158%), from €75,197 to €194,334
- Debts after one year -€42,974
down €42,974 (-17.3%), from €248,195 to €205,221
- Current portion of long-term debt -€13,479
down €13,479 (-23.9%), from €56,453 to €42,974
- Other operating charges -€46,190
down €46,190 (-80.8%), from €57,133 to €10,943
- Gross operating margin -€43,321
down €43,321 (-17.9%), from €241,901 to €198,580
- Taxes +€4,583
up €4,583 (+24.5%), from €18,671 to €23,254
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €783,743 | €727,768 | -€55,975 | -7.1% |
| Fixed assets | 21/28 | €455,940 | €374,123 | -€81,816 | -17.9% |
| Tangible fixed assets | 22/27 | €455,940 | €374,123 | -€81,816 | -17.9% |
| Land and buildings | 22 | €276,146 | €253,813 | -€22,334 | -8.1% |
| Furniture and vehicles | 24 | €179,793 | €120,311 | -€59,483 | -33.1% |
| Current assets | 29/58 | €327,803 | €353,645 | +€25,841 | +7.9% |
| Amounts receivable within one year | 40/41 | €62,076 | €184,707 | +€122,631 | +198% |
| Trade receivables | 40 | - | €8,537 | +€8,537 | |
| Other amounts receivable | 41 | €62,076 | €176,169 | +€114,094 | +184% |
| Cash at bank and in hand | 54/58 | €264,201 | €167,400 | -€96,801 | -36.6% |
| Deferred charges and accrued income | 490/1 | €1,526 | €1,538 | +€12 | +0.8% |
| Total equity and liabilities | 10/49 | €783,743 | €727,768 | -€55,975 | -7.1% |
| Equity | 10/15 | €377,996 | €256,795 | -€121,201 | -32.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €373,996 | €252,795 | -€121,201 | -32.4% |
| Distributable reserves | 133 | €373,996 | €252,795 | -€121,201 | -32.4% |
| Amounts payable | 17/49 | €405,747 | €470,973 | +€65,226 | +16.1% |
| Amounts payable after more than one year | 17 | €248,195 | €205,221 | -€42,974 | -17.3% |
| Financial debts | 170/4 | €248,195 | €205,221 | -€42,974 | -17.3% |
| Amounts payable within one year | 42/48 | €157,552 | €264,906 | +€107,354 | +68.1% |
| Current portion of amounts payable after more than one year | 42 | €56,453 | €42,974 | -€13,479 | -23.9% |
| Trade debts | 44 | €492 | €402 | -€90 | -18.3% |
| Suppliers | 440/4 | €492 | €402 | -€90 | -18.3% |
| Taxes, remuneration and social security | 45 | €25,409 | €27,196 | +€1,786 | +7.0% |
| Taxes | 450/3 | €22,409 | €24,196 | +€1,786 | +8.0% |
| Remuneration and social security | 454/9 | €3,000 | €3,000 | = | 0.0% |
| Other amounts payable | 47/48 | €75,197 | €194,334 | +€119,137 | +158% |
| Accrued charges and deferred income | 492/3 | - | €846 | +€846 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,106 | €81,816 | +€1,711 | +2.1% |
| Other operating charges | 640/8 | €57,133 | €10,943 | -€46,190 | -80.8% |
| Gross operating margin | 9900 | €241,901 | €198,580 | -€43,321 | -17.9% |
| Operating profit (loss) | 9901 | €104,662 | €105,820 | +€1,158 | +1.1% |
| Financial charges | 65/66B | €10,794 | €9,433 | -€1,361 | -12.6% |
| Recurring financial charges | 65 | €10,794 | €9,433 | -€1,361 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | €93,868 | €96,388 | +€2,520 | +2.7% |
| Income taxes | 67/77 | €18,671 | €23,254 | +€4,583 | +24.5% |
| Profit (loss) for the period | 9904 | €75,197 | €73,134 | -€2,064 | -2.7% |
| Profit (loss) for the period to be appropriated | 9905 | €75,197 | €73,134 | -€2,064 | -2.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.