ZAHIOUD: 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.
ZAHIOUD
Largest movements
- Receivables within one year +€49,146
up €49,146 (+47.7%), from €103,108 to €152,254
of which Other amounts receivable: +€48,646
- Cash +€21,101
up €21,101 (+169.2%), from €12,468 to €33,569
mainly Net result for the year (+€84,876) and Depreciation (+€11,167)
- Tangible fixed assets -€8,302
down €8,302 (-9.7%), from €85,294 to €76,992
of which Other tangible fixed assets: -€9,576
- Profit (loss) carried forward +€84,876
up €84,876 (+160.2%), from €52,987 to €137,862
- Tax, wage and social debts -€15,149
down €15,149 (-59.2%), from €25,599 to €10,450
of which Taxes: -€16,762
- Debts after one year -€10,256
down €10,256 (-14.7%), from €69,746 to €59,491
- Trade debts +€3,290
up €3,290 (+913.7%), from €360 to €3,650
- Gross operating margin +€42,607
up €42,607 (+41.3%), from €103,106 to €145,714
- Taxes +€5,427
up €5,427 (+34.2%), from €15,881 to €21,308
- Financial charges +€2,986
up €2,986 (+70.1%), from €4,258 to €7,244
- Financial income +€1,630
up €1,630 (+41.3%), from €3,950 to €5,581
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 | €201,021 | €264,208 | +€63,188 | +31.4% |
| Fixed assets | 21/28 | €85,444 | €77,142 | -€8,302 | -9.7% |
| Tangible fixed assets | 22/27 | €85,294 | €76,992 | -€8,302 | -9.7% |
| Furniture and vehicles | 24 | €1,970 | €3,243 | +€1,274 | +64.7% |
| Other tangible fixed assets | 26 | €83,325 | €73,749 | -€9,576 | -11.5% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €115,576 | €187,066 | +€71,489 | +61.9% |
| Amounts receivable within one year | 40/41 | €103,108 | €152,254 | +€49,146 | +47.7% |
| Trade receivables | 40 | - | €500 | +€500 | |
| Other amounts receivable | 41 | €103,108 | €151,754 | +€48,646 | +47.2% |
| Cash at bank and in hand | 54/58 | €12,468 | €33,569 | +€21,101 | +169.2% |
| Deferred charges and accrued income | 490/1 | - | €1,243 | +€1,243 | |
| Total equity and liabilities | 10/49 | €201,021 | €264,208 | +€63,188 | +31.4% |
| Equity | 10/15 | €95,487 | €180,362 | +€84,876 | +88.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €40,000 | €40,000 | = | 0.0% |
| Distributable reserves | 133 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,987 | €137,862 | +€84,876 | +160.2% |
| Amounts payable | 17/49 | €105,534 | €83,846 | -€21,688 | -20.6% |
| Amounts payable after more than one year | 17 | €69,746 | €59,491 | -€10,256 | -14.7% |
| Financial debts | 170/4 | €69,746 | €59,491 | -€10,256 | -14.7% |
| Amounts payable within one year | 42/48 | €35,788 | €24,355 | -€11,432 | -31.9% |
| Current portion of amounts payable after more than one year | 42 | €9,829 | €10,256 | +€427 | +4.3% |
| Trade debts | 44 | €360 | €3,650 | +€3,290 | +913.7% |
| Suppliers | 440/4 | €360 | €3,650 | +€3,290 | +913.7% |
| Taxes, remuneration and social security | 45 | €25,599 | €10,450 | -€15,149 | -59.2% |
| Taxes | 450/3 | €20,143 | €3,381 | -€16,762 | -83.2% |
| Remuneration and social security | 454/9 | €5,456 | €7,069 | +€1,613 | +29.6% |
| Remuneration, social security and pensions | 62 | €24,714 | €25,605 | +€891 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,350 | €11,167 | +€817 | +7.9% |
| Other operating charges | 640/8 | €240 | €1,095 | +€855 | +356.5% |
| Gross operating margin | 9900 | €103,106 | €145,714 | +€42,607 | +41.3% |
| Operating profit (loss) | 9901 | €67,803 | €107,847 | +€40,044 | +59.1% |
| Financial income | 75/76B | €3,950 | €5,581 | +€1,630 | +41.3% |
| Recurring financial income | 75 | €3,950 | €5,581 | +€1,630 | +41.3% |
| Financial charges | 65/66B | €4,258 | €7,244 | +€2,986 | +70.1% |
| Recurring financial charges | 65 | €4,258 | €7,244 | +€2,986 | +70.1% |
| Profit (loss) for the period before taxes | 9903 | €67,495 | €106,184 | +€38,689 | +57.3% |
| Income taxes | 67/77 | €15,881 | €21,308 | +€5,427 | +34.2% |
| Profit (loss) for the period | 9904 | €51,614 | €84,876 | +€33,261 | +64.4% |
| Profit (loss) for the period to be appropriated | 9905 | €51,614 | €84,876 | +€33,261 | +64.4% |
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 11 October 2026 via checked.be.