Vastgoed Zebra: what changed
What changed
Vastgoed Zebra
NACE 68.310, Real estate agency activities
filed annual accounts (NBB)
Net result for the year
€347,274
2024 · €226,891+€120,383
Equity
€228,622
2024 · €221,348+€7,274
Cash
€194,487
2024 · €91,194+€103,293
Balance sheet total
€880,655
2024 · €567,527+€313,128
Largest movements
Assets
- Tangible fixed assets +€133,967
up €133,967 (+765%), from €17,515 to €151,483
of which Other tangible fixed assets: +€133,690
- Cash +€103,293
up €103,293 (+113%), from €91,194 to €194,487
mainly Net result for the year (+€347,274) and Debts after one year (+€144,924)
- Receivables within one year +€80,105
up €80,105 (+33.5%), from €238,921 to €319,026
of which Other amounts receivable: +€49,616
Equity and liabilities
- Debts after one year +€144,924
up €144,924, from €0 to €144,924
- Trade debts +€54,160
up €54,160 (+299%), from €18,116 to €72,276
- Tax, wage and social debts +€46,927
up €46,927 (+209%), from €22,481 to €69,408
of which Taxes: +€32,812
- Other debts +€41,125
up €41,125 (+14.2%), from €290,158 to €331,283
- Current portion of long-term debt +€26,725
up €26,725 (+712%), from €3,755 to €30,480
Income statement
- Gross operating margin +€186,753
up €186,753 (+54.3%), from €343,996 to €530,749
- Taxes +€46,230
up €46,230 (+144%), from €32,169 to €78,399
- Staff costs +€17,919
up €17,919 (+26.0%), from €68,820 to €86,739
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.
Result 2024
€226,891
Gross operating margin
+€186,753
Staff costs
-€17,919
Depreciation
-€299
Other operating charges
-€1,107
Financial income
-€301
Financial charges
-€514
Taxes
-€46,230
Result 2025
€347,274
raises the resultlowers the result
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.
From operations
+€415,228
Investment
-€143,584
Financing
-€168,351
Cash 2024
€91,194
From operations (derived)
+€415,228
Net result for the year
+€347,274
Depreciation
+€13,568
Receivables within one year
-€80,105
Deferred charges and accrued income
+€287
Trade debts
+€54,160
Tax, wage and social debts
+€46,927
Other debts
+€41,125
Accrued charges and deferred income
-€8,008
Investment (derived)
-€143,584
Investment in fixed assets (net)
-€143,584
Financing
-€168,351
Debts after one year
+€144,924
Current portion of long-term debt
+€26,725
Contributions, distributions and other
-€340,000
Cash 2025
€194,487
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €567,527 | €880,655 | +€313,128 | +55.2% |
| Fixed assets | 21/28 | €25,531 | €155,548 | +€130,017 | +509% |
| Intangible fixed assets | 21 | €3,951 | €0 | -€3,951 | -100% |
| Tangible fixed assets | 22/27 | €17,515 | €151,483 | +€133,967 | +765% |
| Plant, machinery and equipment | 23 | - | €2,326 | +€2,326 | |
| Furniture and vehicles | 24 | €8,097 | €6,048 | -€2,048 | -25.3% |
| Other tangible fixed assets | 26 | €9,418 | €143,108 | +€133,690 | +1,419% |
| Financial fixed assets | 28 | €4,065 | €4,065 | = | 0.0% |
| Current assets | 29/58 | €541,997 | €725,108 | +€183,111 | +33.8% |
| Amounts receivable after more than one year | 29 | €205,000 | €205,000 | = | 0.0% |
| Other amounts receivable | 291 | €205,000 | €205,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €238,921 | €319,026 | +€80,105 | +33.5% |
| Trade receivables | 40 | €231,090 | €261,579 | +€30,488 | +13.2% |
| Other amounts receivable | 41 | €7,831 | €57,447 | +€49,616 | +634% |
| Cash at bank and in hand | 54/58 | €91,194 | €194,487 | +€103,293 | +113% |
| Deferred charges and accrued income | 490/1 | €6,882 | €6,595 | -€287 | -4.2% |
| Total equity and liabilities | 10/49 | €567,527 | €880,655 | +€313,128 | +55.2% |
| Equity | 10/15 | €221,348 | €228,622 | +€7,274 | +3.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €211,348 | €218,622 | +€7,274 | +3.4% |
| Distributable reserves | 133 | €211,348 | €218,622 | +€7,274 | +3.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €346,180 | €652,033 | +€305,853 | +88.4% |
| Amounts payable after more than one year | 17 | €0 | €144,924 | +€144,924 | |
| Financial debts | 170/4 | €0 | €144,924 | +€144,924 | |
| Amounts payable within one year | 42/48 | €334,509 | €503,446 | +€168,937 | +50.5% |
| Current portion of amounts payable after more than one year | 42 | €3,755 | €30,480 | +€26,725 | +712% |
| Trade debts | 44 | €18,116 | €72,276 | +€54,160 | +299% |
| Suppliers | 440/4 | €18,116 | €72,276 | +€54,160 | +299% |
| Taxes, remuneration and social security | 45 | €22,481 | €69,408 | +€46,927 | +209% |
| Taxes | 450/3 | €17,857 | €50,669 | +€32,812 | +184% |
| Remuneration and social security | 454/9 | €4,624 | €18,739 | +€14,115 | +305% |
| Other amounts payable | 47/48 | €290,158 | €331,283 | +€41,125 | +14.2% |
| Accrued charges and deferred income | 492/3 | €11,671 | €3,663 | -€8,008 | -68.6% |
| Remuneration, social security and pensions | 62 | €68,820 | €86,739 | +€17,919 | +26.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,269 | €13,568 | +€299 | +2.3% |
| Other operating charges | 640/8 | €2,272 | €3,379 | +€1,107 | +48.7% |
| Gross operating margin | 9900 | €343,996 | €530,749 | +€186,753 | +54.3% |
| Operating profit (loss) | 9901 | €259,635 | €427,063 | +€167,428 | +64.5% |
| Financial income | 75/76B | €2,351 | €2,050 | -€301 | -12.8% |
| Recurring financial income | 75 | €2,351 | €2,050 | -€301 | -12.8% |
| Financial charges | 65/66B | €2,926 | €3,440 | +€514 | +17.6% |
| Recurring financial charges | 65 | €2,926 | €3,440 | +€514 | +17.6% |
| Profit (loss) for the period before taxes | 9903 | €259,060 | €425,673 | +€166,613 | +64.3% |
| Income taxes | 67/77 | €32,169 | €78,399 | +€46,230 | +144% |
| Profit (loss) for the period | 9904 | €226,891 | €347,274 | +€120,383 | +53.1% |
| Profit (loss) for the period to be appropriated | 9905 | €226,891 | €347,274 | +€120,383 | +53.1% |
Next steps
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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 4 November 2026 via checked.be.