ZA AND A GROUP: what changed
ZA AND A GROUP
Largest movements
- Stocks and contracts +€32,457
up €32,457 (+20.6%), from €157,298 to €189,755
- Tangible fixed assets -€11,000
down €11,000 (-50.4%), from €21,830 to €10,830
of which Furniture and vehicles: -€10,642
- Financial fixed assets +€10,500
up €10,500 (+415%), from €2,532 to €13,032
- Cash +€8,767
up €8,767 (+362%), from €2,420 to €11,187
mainly Net result for the year (+€32,028) and Trade debts (+€14,347)
- Receivables within one year -€6,462
down €6,462 (-26.9%), from €23,986 to €17,523
of which Other amounts receivable: -€8,878
- Reserves +€26,669
up €26,669 (+38.3%), from €69,681 to €96,349
of which Distributable reserves: +€25,000
- Trade debts +€14,347
up €14,347 (+20.7%), from €69,154 to €83,501
- Debts after one year -€9,383
down €9,383 (-48.3%), from €19,422 to €10,040
- Tax, wage and social debts -€6,794
down €6,794 (-23.6%), from €28,850 to €22,056
- Profit (loss) carried forward +€5,359
up €5,359 (+398%), from €1,346 to €6,705
- Gross operating margin +€24,527
up €24,527 (+18.4%), from €133,020 to €157,547
- Staff costs -€14,848
down €14,848 (-14.6%), from €101,441 to €86,593
- Taxes +€5,167
up €5,167 (+72.0%), from €7,177 to €12,344
- Other operating charges +€3,406
up €3,406 (+108%), from €3,142 to €6,547
- Depreciation -€1,606
down €1,606 (-12.7%), from €12,606 to €11,000
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 | €208,065 | €242,326 | +€34,261 | +16.5% |
| Fixed assets | 21/28 | €24,361 | €23,862 | -€500 | -2.1% |
| Tangible fixed assets | 22/27 | €21,830 | €10,830 | -€11,000 | -50.4% |
| Plant, machinery and equipment | 23 | €716 | €358 | -€358 | -50.0% |
| Furniture and vehicles | 24 | €21,114 | €10,472 | -€10,642 | -50.4% |
| Financial fixed assets | 28 | €2,532 | €13,032 | +€10,500 | +415% |
| Current assets | 29/58 | €183,704 | €218,465 | +€34,761 | +18.9% |
| Stocks and contracts in progress | 3 | €157,298 | €189,755 | +€32,457 | +20.6% |
| Stocks | 30/36 | €157,298 | €189,755 | +€32,457 | +20.6% |
| Amounts receivable within one year | 40/41 | €23,986 | €17,523 | -€6,462 | -26.9% |
| Trade receivables | 40 | €11,550 | €13,966 | +€2,416 | +20.9% |
| Other amounts receivable | 41 | €12,435 | €3,558 | -€8,878 | -71.4% |
| Cash at bank and in hand | 54/58 | €2,420 | €11,187 | +€8,767 | +362% |
| Total equity and liabilities | 10/49 | €208,065 | €242,326 | +€34,261 | +16.5% |
| Equity | 10/15 | €77,227 | €109,255 | +€32,028 | +41.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €69,681 | €96,349 | +€26,669 | +38.3% |
| Non-distributable reserves | 130/1 | €4,681 | €6,349 | +€1,669 | +35.7% |
| Reserves not available under the articles | 1311 | €4,681 | €6,349 | +€1,669 | +35.7% |
| Distributable reserves | 133 | €65,000 | €90,000 | +€25,000 | +38.5% |
| Profit (loss) carried forward | 14 | €1,346 | €6,705 | +€5,359 | +398% |
| Amounts payable | 17/49 | €130,838 | €133,072 | +€2,234 | +1.7% |
| Amounts payable after more than one year | 17 | €19,422 | €10,040 | -€9,383 | -48.3% |
| Financial debts | 170/4 | €19,422 | €10,040 | -€9,383 | -48.3% |
| Amounts payable within one year | 42/48 | €111,416 | €123,032 | +€11,617 | +10.4% |
| Current portion of amounts payable after more than one year | 42 | €9,383 | €9,383 | = | 0.0% |
| Trade debts | 44 | €69,154 | €83,501 | +€14,347 | +20.7% |
| Suppliers | 440/4 | €69,154 | €83,501 | +€14,347 | +20.7% |
| Taxes, remuneration and social security | 45 | €28,850 | €22,056 | -€6,794 | -23.6% |
| Taxes | 450/3 | €28,850 | €22,056 | -€6,794 | -23.6% |
| Other amounts payable | 47/48 | €4,029 | €8,092 | +€4,063 | +101% |
| Remuneration, social security and pensions | 62 | €101,441 | €86,593 | -€14,848 | -14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,606 | €11,000 | -€1,606 | -12.7% |
| Other operating charges | 640/8 | €3,142 | €6,547 | +€3,406 | +108% |
| Non-recurring operating charges | 66A | €5,882 | €5,176 | -€707 | -12.0% |
| Gross operating margin | 9900 | €133,020 | €157,547 | +€24,527 | +18.4% |
| Operating profit (loss) | 9901 | €9,949 | €48,232 | +€38,282 | +385% |
| Financial income | 75/76B | €0 | €24 | +€24 | +47,020% |
| Recurring financial income | 75 | €0 | €24 | +€24 | +47,020% |
| Financial charges | 65/66B | €4,651 | €3,884 | -€767 | -16.5% |
| Recurring financial charges | 65 | €4,651 | €3,884 | -€767 | -16.5% |
| Profit (loss) for the period before taxes | 9903 | €5,299 | €44,372 | +€39,073 | +737% |
| Income taxes | 67/77 | €7,177 | €12,344 | +€5,167 | +72.0% |
| Profit (loss) for the period | 9904 | -€1,878 | €32,028 | +€33,906 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,878 | €32,028 | +€33,906 |
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 4 November 2026 via checked.be.