ZAGAN & CO: 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.
ZAGAN & CO
Largest movements
- Stocks and contracts +€8,359
up €8,359 (+26.1%), from €32,079 to €40,438
- Cash -€6,394
down €6,394 (-81.9%), from €7,809 to €1,415
mainly Stocks and contracts (-€8,359) and Other debts (-€6,011)
- Tangible fixed assets -€5,431
down €5,431 (-3.4%), from €161,907 to €156,477
of which Land and buildings: -€7,562
- Other debts -€6,011
down €6,011 (-4.0%), from €149,815 to €143,804
- Gross operating margin +€3,713
up €3,713 (+46.5%), from €7,982 to €11,695
- Taxes +€594
up €594 (+356%), from €167 to €761
- Depreciation +€327
up €327 (+4.3%), from €7,604 to €7,931
- Financial charges -€302
down €302 (-49.1%), from €615 to €313
- Other operating charges -€173
down €173 (-16.5%), from €1,045 to €872
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 | €207,011 | €203,323 | -€3,688 | -1.8% |
| Fixed assets | 21/28 | €161,907 | €156,477 | -€5,431 | -3.4% |
| Tangible fixed assets | 22/27 | €161,907 | €156,477 | -€5,431 | -3.4% |
| Land and buildings | 22 | €159,908 | €152,346 | -€7,562 | -4.7% |
| Plant, machinery and equipment | 23 | €1,999 | €4,131 | +€2,132 | +107% |
| Current assets | 29/58 | €45,103 | €46,846 | +€1,743 | +3.9% |
| Stocks and contracts in progress | 3 | €32,079 | €40,438 | +€8,359 | +26.1% |
| Stocks | 30/36 | €32,079 | €40,438 | +€8,359 | +26.1% |
| Amounts receivable within one year | 40/41 | €2,955 | €4,167 | +€1,211 | +41.0% |
| Trade receivables | 40 | €1,143 | €3,020 | +€1,877 | +164% |
| Other amounts receivable | 41 | €1,812 | €1,147 | -€666 | -36.7% |
| Cash at bank and in hand | 54/58 | €7,809 | €1,415 | -€6,394 | -81.9% |
| Deferred charges and accrued income | 490/1 | €2,261 | €827 | -€1,434 | -63.4% |
| Total equity and liabilities | 10/49 | €207,011 | €203,323 | -€3,688 | -1.8% |
| Equity | 10/15 | -€139,265 | -€137,447 | +€1,818 | +1.3% |
| Contributions | 10/11 | €6,100 | €6,100 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€147,225 | -€145,407 | +€1,818 | +1.2% |
| Amounts payable | 17/49 | €346,276 | €340,770 | -€5,506 | -1.6% |
| Amounts payable after more than one year | 17 | €196,000 | €196,000 | = | 0.0% |
| Other amounts payable | 178/9 | €196,000 | €196,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €150,276 | €144,770 | -€5,506 | -3.7% |
| Trade debts | 44 | €85 | €91 | +€6 | +7.3% |
| Suppliers | 440/4 | €85 | €91 | +€6 | +7.3% |
| Taxes, remuneration and social security | 45 | €376 | €875 | +€499 | +133% |
| Taxes | 450/3 | €376 | €875 | +€499 | +133% |
| Other amounts payable | 47/48 | €149,815 | €143,804 | -€6,011 | -4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,604 | €7,931 | +€327 | +4.3% |
| Other operating charges | 640/8 | €1,045 | €872 | -€173 | -16.5% |
| Gross operating margin | 9900 | €7,982 | €11,695 | +€3,713 | +46.5% |
| Operating profit (loss) | 9901 | -€668 | €2,892 | +€3,560 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €615 | €313 | -€302 | -49.1% |
| Recurring financial charges | 65 | €615 | €313 | -€302 | -49.1% |
| Profit (loss) for the period before taxes | 9903 | -€1,282 | €2,579 | +€3,861 | |
| Income taxes | 67/77 | €167 | €761 | +€594 | +356% |
| Profit (loss) for the period | 9904 | -€1,449 | €1,818 | +€3,267 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,449 | €1,818 | +€3,267 |
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 18 October 2026 via checked.be.