CONSTRUCT ZGAJEWSKI PROJECT: what changed
Two fiscal 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.
CONSTRUCT ZGAJEWSKI PROJECT
Largest movements
- Tangible fixed assets +€19,005
up €19,005 (+536.7%), from €3,541 to €22,546
of which Furniture and vehicles: +€19,312
- Cash +€10,284
up €10,284 (+24.1%), from €42,704 to €52,988
mainly Trade debts (+€14,242) and Tax, wage and social debts (+€11,018)
- Receivables within one year +€5,999
up €5,999 (+5.9%), from €102,396 to €108,395
of which Trade receivables: +€4,733
- Other debts -€15,166
no longer reported in 2024 (was €15,166)
- Trade debts +€14,242
up €14,242 (+53.4%), from €26,690 to €40,932
- Tax, wage and social debts +€11,018
up €11,018 (+69.1%), from €15,954 to €26,972
of which Remuneration and social security: +€11,819
- Debts after one year +€10,877
new in 2024: €10,877
- Current portion of long-term debt +€9,679
new in 2024: €9,679
- Staff costs +€10,180
up €10,180 (+18.7%), from €54,352 to €64,531
- Other operating charges -€7,558
down €7,558 (-67.6%), from €11,183 to €3,625
- Gross operating margin -€4,866
down €4,866 (-5.5%), from €88,774 to €83,908
- Depreciation +€2,232
up €2,232 (+189.5%), from €1,178 to €3,410
- Taxes -€1,881
down €1,881 (-33.2%), from €5,672 to €3,791
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €149,354 | €184,785 | +€35,432 | +23.7% |
| Fixed assets | 21/28 | €3,729 | €22,734 | +€19,005 | +509.7% |
| Tangible fixed assets | 22/27 | €3,541 | €22,546 | +€19,005 | +536.7% |
| Plant, machinery and equipment | 23 | €2,044 | €1,737 | -€307 | -15.0% |
| Furniture and vehicles | 24 | €1,497 | €20,808 | +€19,312 | +1290.4% |
| Financial fixed assets | 28 | €188 | €188 | = | 0.0% |
| Current assets | 29/58 | €145,625 | €162,052 | +€16,427 | +11.3% |
| Stocks and contracts in progress | 3 | €525 | - | -€525 | |
| Stocks | 30/36 | €525 | - | -€525 | |
| Amounts receivable within one year | 40/41 | €102,396 | €108,395 | +€5,999 | +5.9% |
| Trade receivables | 40 | €101,680 | €106,414 | +€4,733 | +4.7% |
| Other amounts receivable | 41 | €715 | €1,981 | +€1,266 | +176.9% |
| Cash at bank and in hand | 54/58 | €42,704 | €52,988 | +€10,284 | +24.1% |
| Deferred charges and accrued income | 490/1 | - | €669 | +€669 | |
| Total equity and liabilities | 10/49 | €149,354 | €184,785 | +€35,432 | +23.7% |
| Equity | 10/15 | €88,364 | €96,325 | +€7,961 | +9.0% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Capital | 10 | €20,460 | €20,460 | = | 0.0% |
| Issued capital | 100 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €67,904 | €75,865 | +€7,961 | +11.7% |
| Amounts payable | 17/49 | €60,990 | €88,460 | +€27,470 | +45.0% |
| Amounts payable after more than one year | 17 | - | €10,877 | +€10,877 | |
| Financial debts | 170/4 | - | €10,877 | +€10,877 | |
| Amounts payable within one year | 42/48 | €60,990 | €77,583 | +€16,594 | +27.2% |
| Current portion of amounts payable after more than one year | 42 | - | €9,679 | +€9,679 | |
| Trade debts | 44 | €26,690 | €40,932 | +€14,242 | +53.4% |
| Suppliers | 440/4 | €26,690 | €40,932 | +€14,242 | +53.4% |
| Advances received on contracts in progress | 46 | €3,180 | - | -€3,180 | |
| Taxes, remuneration and social security | 45 | €15,954 | €26,972 | +€11,018 | +69.1% |
| Taxes | 450/3 | €10,417 | €9,616 | -€801 | -7.7% |
| Remuneration and social security | 454/9 | €5,536 | €17,356 | +€11,819 | +213.5% |
| Other amounts payable | 47/48 | €15,166 | - | -€15,166 | |
| Remuneration, social security and pensions | 62 | €54,352 | €64,531 | +€10,180 | +18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,178 | €3,410 | +€2,232 | +189.5% |
| Other operating charges | 640/8 | €11,183 | €3,625 | -€7,558 | -67.6% |
| Gross operating margin | 9900 | €88,774 | €83,908 | -€4,866 | -5.5% |
| Operating profit (loss) | 9901 | €22,060 | €12,340 | -€9,720 | -44.1% |
| Financial income | 75/76B | €198 | €195 | -€3 | -1.5% |
| Recurring financial income | 75 | €198 | €195 | -€3 | -1.5% |
| Financial charges | 65/66B | €288 | €783 | +€495 | +171.9% |
| Recurring financial charges | 65 | €288 | €783 | +€495 | +171.9% |
| Profit (loss) for the period before taxes | 9903 | €21,970 | €11,753 | -€10,218 | -46.5% |
| Income taxes | 67/77 | €5,672 | €3,791 | -€1,881 | -33.2% |
| Profit (loss) for the period | 9904 | €16,298 | €7,961 | -€8,337 | -51.2% |
| Profit (loss) for the period to be appropriated | 9905 | €16,298 | €7,961 | -€8,337 | -51.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.