ZABUN: 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.
ZABUN
Largest movements
- Receivables within one year +€173,260
up €173,260 (+27.3%), from €635,810 to €809,070
of which Trade receivables: +€151,881
- Cash -€91,434
down €91,434 (-17.3%), from €529,324 to €437,891
mainly Receivables within one year (-€173,260) and Accrued charges and deferred income (-€155,877)
- Deferred charges and accrued income +€27,019
new in 2025: €27,019
- Accrued charges and deferred income -€155,877
down €155,877 (-43.9%), from €355,292 to €199,415
- Profit (loss) carried forward +€124,421
up €124,421 (+40.7%), from €305,476 to €429,897
- Trade debts +€100,465
up €100,465 (+57.9%), from €173,630 to €274,095
- Tax, wage and social debts +€27,492
up €27,492 (+12.6%), from €217,584 to €245,076
of which Remuneration and social security: +€35,624
- Staff costs +€288,450
up €288,450 (+29.2%), from €989,126 to €1.3m
- Taxes -€76,461
down €76,461 (-56.6%), from €135,082 to €58,621
- Gross operating margin -€37,807
down €37,807 (-2.5%), from €1.5m to €1.5m
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 | €1,254,715 | €1,351,216 | +€96,501 | +7.7% |
| Fixed assets | 21/28 | €89,580 | €77,237 | -€12,344 | -13.8% |
| Tangible fixed assets | 22/27 | €87,079 | €74,736 | -€12,344 | -14.2% |
| Plant, machinery and equipment | 23 | €18,559 | €15,870 | -€2,689 | -14.5% |
| Furniture and vehicles | 24 | €68,520 | €58,866 | -€9,655 | -14.1% |
| Financial fixed assets | 28 | €2,501 | €2,501 | = | 0.0% |
| Current assets | 29/58 | €1,165,134 | €1,273,979 | +€108,845 | +9.3% |
| Amounts receivable within one year | 40/41 | €635,810 | €809,070 | +€173,260 | +27.3% |
| Trade receivables | 40 | €364,664 | €516,544 | +€151,881 | +41.6% |
| Other amounts receivable | 41 | €271,147 | €292,526 | +€21,379 | +7.9% |
| Cash at bank and in hand | 54/58 | €529,324 | €437,891 | -€91,434 | -17.3% |
| Deferred charges and accrued income | 490/1 | - | €27,019 | +€27,019 | |
| Total equity and liabilities | 10/49 | €1,254,715 | €1,351,216 | +€96,501 | +7.7% |
| Equity | 10/15 | €508,209 | €632,630 | +€124,421 | +24.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €141,233 | €141,233 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,463 | €14,463 | = | 0.0% |
| Distributable reserves | 133 | €120,620 | €120,620 | = | 0.0% |
| Profit (loss) carried forward | 14 | €305,476 | €429,897 | +€124,421 | +40.7% |
| Amounts payable | 17/49 | €746,506 | €718,586 | -€27,920 | -3.7% |
| Amounts payable within one year | 42/48 | €391,214 | €519,171 | +€127,957 | +32.7% |
| Trade debts | 44 | €173,630 | €274,095 | +€100,465 | +57.9% |
| Suppliers | 440/4 | €173,630 | €274,095 | +€100,465 | +57.9% |
| Taxes, remuneration and social security | 45 | €217,584 | €245,076 | +€27,492 | +12.6% |
| Taxes | 450/3 | €50,510 | €42,378 | -€8,132 | -16.1% |
| Remuneration and social security | 454/9 | €167,074 | €202,698 | +€35,624 | +21.3% |
| Accrued charges and deferred income | 492/3 | €355,292 | €199,415 | -€155,877 | -43.9% |
| Remuneration, social security and pensions | 62 | €989,126 | €1,277,576 | +€288,450 | +29.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,889 | €18,348 | +€4,458 | +32.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,654 | -€321 | +€1,333 | +80.6% |
| Other operating charges | 640/8 | €5,987 | €1,242 | -€4,746 | -79.3% |
| Gross operating margin | 9900 | €1,530,624 | €1,492,817 | -€37,807 | -2.5% |
| Operating profit (loss) | 9901 | €523,275 | €195,973 | -€327,302 | -62.5% |
| Financial income | 75/76B | €7,057 | - | -€7,057 | |
| Recurring financial income | 75 | €7,057 | - | -€7,057 | |
| Financial charges | 65/66B | €8,213 | €12,931 | +€4,718 | +57.4% |
| Recurring financial charges | 65 | €8,213 | €12,931 | +€4,718 | +57.4% |
| Profit (loss) for the period before taxes | 9903 | €522,119 | €183,042 | -€339,077 | -64.9% |
| Income taxes | 67/77 | €135,082 | €58,621 | -€76,461 | -56.6% |
| Profit (loss) for the period | 9904 | €387,037 | €124,421 | -€262,616 | -67.9% |
| Profit (loss) for the period to be appropriated | 9905 | €387,037 | €124,421 | -€262,616 | -67.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.