ZARAZ: 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.
ZARAZ
Largest movements
- Receivables within one year +€5,459
up €5,459 (+2.6%), from €207,761 to €213,219
- Cash +€4,683
up €4,683 (+39.5%), from €11,862 to €16,545
mainly Net result for the year (+€7,219) and Tax, wage and social debts (+€3,696)
- Reserves +€7,000
up €7,000 (+5.8%), from €120,860 to €127,860
of which Distributable reserves: +€7,000
- Tax, wage and social debts +€3,696
up €3,696 (+20.2%), from €18,329 to €22,026
- Gross operating margin -€41,132
down €41,132 (-78.2%), from €52,606 to €11,474
- Taxes -€14,038
down €14,038 (-79.7%), from €17,621 to €3,583
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 | €219,625 | €229,766 | +€10,141 | +4.6% |
| Fixed assets | 21/28 | €3 | €3 | = | 0.0% |
| Tangible fixed assets | 22/27 | €3 | €3 | = | 0.0% |
| Furniture and vehicles | 24 | €3 | €3 | = | 0.0% |
| Current assets | 29/58 | €219,623 | €229,764 | +€10,141 | +4.6% |
| Amounts receivable within one year | 40/41 | €207,761 | €213,219 | +€5,459 | +2.6% |
| Other amounts receivable | 41 | €207,761 | €213,219 | +€5,459 | +2.6% |
| Cash at bank and in hand | 54/58 | €11,862 | €16,545 | +€4,683 | +39.5% |
| Total equity and liabilities | 10/49 | €219,625 | €229,766 | +€10,141 | +4.6% |
| Equity | 10/15 | €200,521 | €207,741 | +€7,219 | +3.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €120,860 | €127,860 | +€7,000 | +5.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €119,000 | €126,000 | +€7,000 | +5.9% |
| Profit (loss) carried forward | 14 | €73,461 | €73,681 | +€219 | +0.3% |
| Amounts payable | 17/49 | €19,104 | €22,026 | +€2,922 | +15.3% |
| Amounts payable within one year | 42/48 | €19,104 | €22,026 | +€2,922 | +15.3% |
| Trade debts | 44 | €774 | - | -€774 | |
| Suppliers | 440/4 | €774 | - | -€774 | |
| Taxes, remuneration and social security | 45 | €18,329 | €22,026 | +€3,696 | +20.2% |
| Taxes | 450/3 | €18,329 | €22,026 | +€3,696 | +20.2% |
| Other operating charges | 640/8 | €387 | €640 | +€253 | +65.3% |
| Gross operating margin | 9900 | €52,606 | €11,474 | -€41,132 | -78.2% |
| Operating profit (loss) | 9901 | €52,219 | €10,834 | -€41,385 | -79.3% |
| Financial charges | 65/66B | €180 | €32 | -€148 | -82.4% |
| Recurring financial charges | 65 | €180 | €32 | -€148 | -82.4% |
| Profit (loss) for the period before taxes | 9903 | €52,040 | €10,802 | -€41,237 | -79.2% |
| Income taxes | 67/77 | €17,621 | €3,583 | -€14,038 | -79.7% |
| Profit (loss) for the period | 9904 | €34,418 | €7,219 | -€27,199 | -79.0% |
| Profit (loss) for the period to be appropriated | 9905 | €34,418 | €7,219 | -€27,199 | -79.0% |
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 2 October 2026 via checked.be.