ZAAL 7: 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.
ZAAL 7
Largest movements
- Receivables within one year +€7,491
up €7,491 (+62.7%), from €11,941 to €19,432
of which Other amounts receivable: +€6,181
- Tangible fixed assets -€5,513
down €5,513 (-15.1%), from €36,413 to €30,900
of which Plant, machinery and equipment: -€4,497
- Cash -€4,946
down €4,946 (-37.6%), from €13,166 to €8,221
mainly Trade debts (-€13,879) and Tax, wage and social debts (-€10,084)
- Stocks and contracts -€2,668
down €2,668 (-20.8%), from €12,825 to €10,157
- Reserves +€15,348
up €15,348 (+75.8%), from €20,254 to €35,602
- Trade debts -€13,879
down €13,879 (-61.2%), from €22,697 to €8,818
- Tax, wage and social debts -€10,084
down €10,084 (-31.3%), from €32,218 to €22,135
of which Taxes: -€7,374
- Current portion of long-term debt +€4,181
new in 2025: €4,181
- Advances received -€1,277
down €1,277 (-100.0%), from €1,277 to €0
- Gross operating margin -€6,993
down €6,993 (-10.8%), from €64,674 to €57,680
- Other operating charges -€2,685
down €2,685 (-68.2%), from €3,936 to €1,251
- Financial charges -€1,637
down €1,637 (-35.3%), from €4,630 to €2,994
- Staff costs +€1,436
up €1,436 (+7.5%), from €19,231 to €20,667
- Taxes +€1,350
up €1,350 (+22.1%), from €6,115 to €7,465
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.
Cash bridge derived
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 | €80,446 | €74,736 | -€5,710 | -7.1% |
| Fixed assets | 21/28 | €42,514 | €36,927 | -€5,588 | -13.1% |
| Intangible fixed assets | 21 | €656 | €581 | -€75 | -11.4% |
| Tangible fixed assets | 22/27 | €36,413 | €30,900 | -€5,513 | -15.1% |
| Plant, machinery and equipment | 23 | €34,335 | €29,838 | -€4,497 | -13.1% |
| Furniture and vehicles | 24 | €2,078 | €1,062 | -€1,016 | -48.9% |
| Financial fixed assets | 28 | €5,445 | €5,445 | = | 0.0% |
| Current assets | 29/58 | €37,932 | €37,809 | -€123 | -0.3% |
| Stocks and contracts in progress | 3 | €12,825 | €10,157 | -€2,668 | -20.8% |
| Stocks | 30/36 | €12,825 | €10,157 | -€2,668 | -20.8% |
| Amounts receivable within one year | 40/41 | €11,941 | €19,432 | +€7,491 | +62.7% |
| Trade receivables | 40 | €308 | €1,618 | +€1,310 | +424.7% |
| Other amounts receivable | 41 | €11,632 | €17,813 | +€6,181 | +53.1% |
| Cash at bank and in hand | 54/58 | €13,166 | €8,221 | -€4,946 | -37.6% |
| Total equity and liabilities | 10/49 | €80,446 | €74,736 | -€5,710 | -7.1% |
| Equity | 10/15 | €24,254 | €39,602 | +€15,348 | +63.3% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €20,254 | €35,602 | +€15,348 | +75.8% |
| Distributable reserves | 133 | €20,254 | €35,602 | +€15,348 | +75.8% |
| Amounts payable | 17/49 | €56,192 | €35,134 | -€21,058 | -37.5% |
| Amounts payable within one year | 42/48 | €56,192 | €35,134 | -€21,058 | -37.5% |
| Current portion of amounts payable after more than one year | 42 | - | €4,181 | +€4,181 | |
| Trade debts | 44 | €22,697 | €8,818 | -€13,879 | -61.2% |
| Suppliers | 440/4 | €22,697 | €8,818 | -€13,879 | -61.2% |
| Advances received on contracts in progress | 46 | €1,277 | €0 | -€1,277 | -100.0% |
| Taxes, remuneration and social security | 45 | €32,218 | €22,135 | -€10,084 | -31.3% |
| Taxes | 450/3 | €25,147 | €17,773 | -€7,374 | -29.3% |
| Remuneration and social security | 454/9 | €7,072 | €4,362 | -€2,709 | -38.3% |
| Remuneration, social security and pensions | 62 | €19,231 | €20,667 | +€1,436 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,707 | €10,600 | -€1,107 | -9.5% |
| Other operating charges | 640/8 | €3,936 | €1,251 | -€2,685 | -68.2% |
| Gross operating margin | 9900 | €64,674 | €57,680 | -€6,993 | -10.8% |
| Operating profit (loss) | 9901 | €29,800 | €25,163 | -€4,637 | -15.6% |
| Financial income | 75/76B | €1,199 | €644 | -€555 | -46.3% |
| Recurring financial income | 75 | €1,199 | €644 | -€555 | -46.3% |
| Financial charges | 65/66B | €4,630 | €2,994 | -€1,637 | -35.3% |
| Recurring financial charges | 65 | €4,630 | €2,994 | -€1,637 | -35.3% |
| Profit (loss) for the period before taxes | 9903 | €26,369 | €22,813 | -€3,556 | -13.5% |
| Income taxes | 67/77 | €6,115 | €7,465 | +€1,350 | +22.1% |
| Profit (loss) for the period | 9904 | €20,254 | €15,348 | -€4,906 | -24.2% |
| Profit (loss) for the period to be appropriated | 9905 | €20,254 | €15,348 | -€4,906 | -24.2% |
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 9 October 2026 via checked.be.