Z.A.R.: 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.
Z.A.R.
Largest movements
- Cash +€13,742
up €13,742 (+56.6%), from €24,279 to €38,022
mainly Net result for the year (+€22,294) and Depreciation (+€8,868)
- Tangible fixed assets -€8,618
down €8,618 (-13.5%), from €63,605 to €54,986
of which Other tangible fixed assets: -€6,140
- Financial fixed assets +€5,000
up €5,000 (+222%), from €2,250 to €7,250
- Receivables within one year +€4,840
up €4,840 (+460%), from €1,053 to €5,893
of which Trade receivables: +€4,562
- Profit (loss) carried forward +€22,294
up €22,294, from -€19,507 to €2,788
- Debts after one year -€6,897
down €6,897 (-40.8%), from €16,897 to €10,000
- Tax, wage and social debts +€6,826
up €6,826 (+33.2%), from €20,586 to €27,411
of which Taxes: +€4,070
- Other debts -€5,769
down €5,769 (-15.7%), from €36,657 to €30,888
- Turnover +€80,989
up €80,989 (+27.4%), from €295,595 to €376,584
- Purchases and services +€63,437
up €63,437 (+24.4%), from €260,518 to €323,955
- Gross operating margin +€26,484
up €26,484 (+55.5%), from €47,748 to €74,232
- Staff costs +€6,100
up €6,100 (+18.7%), from €32,688 to €38,788
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 | €105,778 | €121,087 | +€15,309 | +14.5% |
| Fixed assets | 21/28 | €67,990 | €64,121 | -€3,868 | -5.7% |
| Intangible fixed assets | 21 | €2,135 | €1,885 | -€250 | -11.7% |
| Tangible fixed assets | 22/27 | €63,605 | €54,986 | -€8,618 | -13.5% |
| Plant, machinery and equipment | 23 | €10,731 | €8,572 | -€2,159 | -20.1% |
| Furniture and vehicles | 24 | €1,511 | €1,192 | -€319 | -21.1% |
| Other tangible fixed assets | 26 | €51,363 | €45,222 | -€6,140 | -12.0% |
| Financial fixed assets | 28 | €2,250 | €7,250 | +€5,000 | +222% |
| Current assets | 29/58 | €37,788 | €56,965 | +€19,177 | +50.7% |
| Stocks and contracts in progress | 3 | €12,196 | €12,053 | -€143 | -1.2% |
| Stocks | 30/36 | €12,196 | €12,053 | -€143 | -1.2% |
| Amounts receivable within one year | 40/41 | €1,053 | €5,893 | +€4,840 | +460% |
| Trade receivables | 40 | €71 | €4,633 | +€4,562 | +6,433% |
| Other amounts receivable | 41 | €982 | €1,260 | +€278 | +28.4% |
| Cash at bank and in hand | 54/58 | €24,279 | €38,022 | +€13,742 | +56.6% |
| Deferred charges and accrued income | 490/1 | €260 | €998 | +€738 | +284% |
| Total equity and liabilities | 10/49 | €105,778 | €121,087 | +€15,309 | +14.5% |
| Equity | 10/15 | €30,493 | €52,788 | +€22,294 | +73.1% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,507 | €2,788 | +€22,294 | |
| Amounts payable | 17/49 | €75,285 | €68,299 | -€6,985 | -9.3% |
| Amounts payable after more than one year | 17 | €16,897 | €10,000 | -€6,897 | -40.8% |
| Financial debts | 170/4 | €16,897 | €10,000 | -€6,897 | -40.8% |
| Amounts payable within one year | 42/48 | €58,388 | €58,299 | -€88 | -0.2% |
| Trade debts | 44 | €1,145 | €0 | -€1,145 | -100% |
| Suppliers | 440/4 | €1,145 | €0 | -€1,145 | -100% |
| Taxes, remuneration and social security | 45 | €20,586 | €27,411 | +€6,826 | +33.2% |
| Taxes | 450/3 | €7,740 | €11,810 | +€4,070 | +52.6% |
| Remuneration and social security | 454/9 | €12,846 | €15,601 | +€2,756 | +21.5% |
| Other amounts payable | 47/48 | €36,657 | €30,888 | -€5,769 | -15.7% |
| Turnover | 70 | €295,595 | €376,584 | +€80,989 | +27.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €260,518 | €323,955 | +€63,437 | +24.4% |
| Remuneration, social security and pensions | 62 | €32,688 | €38,788 | +€6,100 | +18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,504 | €8,868 | +€365 | +4.3% |
| Other operating charges | 640/8 | €1,120 | €1,366 | +€247 | +22.0% |
| Operating charges capitalised as restructuring costs | 649 | - | €0 | = | |
| Non-recurring operating charges | 66A | €177 | €18 | -€159 | -89.7% |
| Gross operating margin | 9900 | €47,748 | €74,232 | +€26,484 | +55.5% |
| Operating profit (loss) | 9901 | €5,259 | €25,190 | +€19,931 | +379% |
| Financial income | 75/76B | €32 | €0 | -€32 | -100% |
| Recurring financial income | 75 | €32 | €0 | -€32 | -100% |
| Financial charges | 65/66B | €1,884 | €2,209 | +€325 | +17.3% |
| Recurring financial charges | 65 | €1,884 | €2,209 | +€325 | +17.3% |
| Profit (loss) for the period before taxes | 9903 | €3,407 | €22,981 | +€19,574 | +575% |
| Income taxes | 67/77 | - | €687 | +€687 | |
| Profit (loss) for the period | 9904 | €3,407 | €22,294 | +€18,888 | +554% |
| Profit (loss) for the period to be appropriated | 9905 | €3,407 | €22,294 | +€18,888 | +554% |
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 13 October 2026 via checked.be.