ZAOUI: 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.
ZAOUI
Largest movements
- Receivables within one year -€6,855
down €6,855 (-5.8%), from €118,785 to €111,930
of which Other amounts receivable: -€21,470
- Cash -€5,829
down €5,829 (-71.3%), from €8,171 to €2,342
mainly Other debts (-€30,000)
- Tangible fixed assets -€1,620
down €1,620 (-20.0%), from €8,099 to €6,479
- Other debts -€30,000
no longer reported in 2025 (was €30,000)
- Trade debts +€8,202
new in 2025: €8,202
- Tax, wage and social debts +€6,063
up €6,063 (+33.5%), from €18,081 to €24,144
of which Remuneration and social security: +€4,242
- Reserves +€1,432
up €1,432 (+1.9%), from €74,573 to €76,005
- Purchases and services +€201,443
up €201,443 (+91.0%), from €221,462 to €422,905
- Turnover +€148,104
up €148,104 (+53.6%), from €276,299 to €424,404
- Gross operating margin -€49,584
down €49,584 (-85.6%), from €57,905 to €8,321
- Taxes -€4,758
down €4,758 (-69.1%), from €6,882 to €2,124
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 | €135,054 | €120,751 | -€14,303 | -10.6% |
| Fixed assets | 21/28 | €8,099 | €6,479 | -€1,620 | -20.0% |
| Tangible fixed assets | 22/27 | €8,099 | €6,479 | -€1,620 | -20.0% |
| Furniture and vehicles | 24 | €8,099 | €6,479 | -€1,620 | -20.0% |
| Current assets | 29/58 | €126,955 | €114,272 | -€12,684 | -10.0% |
| Amounts receivable within one year | 40/41 | €118,785 | €111,930 | -€6,855 | -5.8% |
| Trade receivables | 40 | €96,438 | €111,054 | +€14,615 | +15.2% |
| Other amounts receivable | 41 | €22,347 | €876 | -€21,470 | -96.1% |
| Cash at bank and in hand | 54/58 | €8,171 | €2,342 | -€5,829 | -71.3% |
| Total equity and liabilities | 10/49 | €135,054 | €120,751 | -€14,303 | -10.6% |
| Equity | 10/15 | €86,973 | €88,405 | +€1,432 | +1.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €74,573 | €76,005 | +€1,432 | +1.9% |
| Distributable reserves | 133 | €74,573 | €76,005 | +€1,432 | +1.9% |
| Amounts payable | 17/49 | €48,081 | €32,346 | -€15,735 | -32.7% |
| Amounts payable within one year | 42/48 | €48,081 | €32,346 | -€15,735 | -32.7% |
| Trade debts | 44 | - | €8,202 | +€8,202 | |
| Suppliers | 440/4 | - | €8,202 | +€8,202 | |
| Taxes, remuneration and social security | 45 | €18,081 | €24,144 | +€6,063 | +33.5% |
| Taxes | 450/3 | €18,081 | €19,902 | +€1,821 | +10.1% |
| Remuneration and social security | 454/9 | - | €4,242 | +€4,242 | |
| Other amounts payable | 47/48 | €30,000 | - | -€30,000 | |
| Turnover | 70 | €276,299 | €424,404 | +€148,104 | +53.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €221,462 | €422,905 | +€201,443 | +91.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,620 | +€1,620 | |
| Other operating charges | 640/8 | €2,490 | €2,985 | +€494 | +19.9% |
| Gross operating margin | 9900 | €57,905 | €8,321 | -€49,584 | -85.6% |
| Operating profit (loss) | 9901 | €55,415 | €3,716 | -€51,698 | -93.3% |
| Financial charges | 65/66B | €184 | €161 | -€24 | -12.8% |
| Recurring financial charges | 65 | €184 | €161 | -€24 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | €55,230 | €3,556 | -€51,675 | -93.6% |
| Income taxes | 67/77 | €6,882 | €2,124 | -€4,758 | -69.1% |
| Profit (loss) for the period | 9904 | €48,349 | €1,432 | -€46,917 | -97.0% |
| Profit (loss) for the period to be appropriated | 9905 | €48,349 | €1,432 | -€46,917 | -97.0% |
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 13 October 2026 via checked.be.