ZANALCO: 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.
ZANALCO
Largest movements
- Cash +€20,595
up €20,595 (+34.2%), from €60,132 to €80,727
mainly Net result for the year (+€29,517) and Depreciation (+€6,926)
- Tangible fixed assets -€6,926
down €6,926 (-3.8%), from €181,647 to €174,721
- Receivables within one year +€4,125
up €4,125 (+24.6%), from €16,782 to €20,907
of which Other amounts receivable: +€2,253
- Profit (loss) carried forward +€26,517
up €26,517 (+53.7%), from €49,356 to €75,872
- Debts after one year -€8,999
down €8,999 (-6.8%), from €133,049 to €124,050
- Financial charges -€9,286
down €9,286 (-50.8%), from €18,279 to €8,993
of which Non-recurring financial charges: -€10,000
- Gross operating margin -€1,720
down €1,720 (-3.1%), from €56,286 to €54,566
- Taxes +€1,264
up €1,264 (+19.5%), from €6,483 to €7,747
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 | €259,666 | €277,479 | +€17,813 | +6.9% |
| Fixed assets | 21/28 | €181,647 | €174,721 | -€6,926 | -3.8% |
| Tangible fixed assets | 22/27 | €181,647 | €174,721 | -€6,926 | -3.8% |
| Land and buildings | 22 | €181,647 | €174,721 | -€6,926 | -3.8% |
| Current assets | 29/58 | €78,019 | €102,758 | +€24,739 | +31.7% |
| Amounts receivable within one year | 40/41 | €16,782 | €20,907 | +€4,125 | +24.6% |
| Trade receivables | 40 | €13,382 | €15,254 | +€1,872 | +14.0% |
| Other amounts receivable | 41 | €3,400 | €5,653 | +€2,253 | +66.3% |
| Cash at bank and in hand | 54/58 | €60,132 | €80,727 | +€20,595 | +34.2% |
| Deferred charges and accrued income | 490/1 | €1,104 | €1,124 | +€19 | +1.7% |
| Total equity and liabilities | 10/49 | €259,666 | €277,479 | +€17,813 | +6.9% |
| Equity | 10/15 | €99,356 | €125,872 | +€26,517 | +26.7% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,356 | €75,872 | +€26,517 | +53.7% |
| Amounts payable | 17/49 | €160,310 | €151,606 | -€8,704 | -5.4% |
| Amounts payable after more than one year | 17 | €133,049 | €124,050 | -€8,999 | -6.8% |
| Financial debts | 170/4 | €133,049 | €124,050 | -€8,999 | -6.8% |
| Amounts payable within one year | 42/48 | €26,511 | €26,806 | +€295 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €8,649 | €8,999 | +€350 | +4.0% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €12,842 | €12,773 | -€69 | -0.5% |
| Taxes | 450/3 | €10,608 | €10,739 | +€131 | +1.2% |
| Remuneration and social security | 454/9 | €2,234 | €2,034 | -€200 | -9.0% |
| Other amounts payable | 47/48 | €5,020 | €5,034 | +€14 | +0.3% |
| Accrued charges and deferred income | 492/3 | €750 | €750 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,926 | €6,926 | +€0 | 0.0% |
| Other operating charges | 640/8 | €1,293 | €1,383 | +€90 | +7.0% |
| Gross operating margin | 9900 | €56,286 | €54,566 | -€1,720 | -3.1% |
| Operating profit (loss) | 9901 | €48,068 | €46,257 | -€1,810 | -3.8% |
| Financial charges | 65/66B | €18,279 | €8,993 | -€9,286 | -50.8% |
| Recurring financial charges | 65 | €8,279 | €8,993 | +€714 | +8.6% |
| Non-recurring financial charges | 66B | €10,000 | €0 | -€10,000 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €29,789 | €37,264 | +€7,475 | +25.1% |
| Income taxes | 67/77 | €6,483 | €7,747 | +€1,264 | +19.5% |
| Profit (loss) for the period | 9904 | €23,305 | €29,517 | +€6,211 | +26.7% |
| Profit (loss) for the period to be appropriated | 9905 | €23,305 | €29,517 | +€6,211 | +26.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.