Zardoua Group: 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.
Zardoua Group
Largest movements
- Receivables within one year +€24,096
up €24,096 (+106%), from €22,687 to €46,783
of which Other amounts receivable: +€13,063
- Cash +€1,842
up €1,842 (+23.0%), from €8,000 to €9,841
mainly Net result for the year (+€24,817) and Depreciation (+€525)
- Profit (loss) carried forward +€24,817
up €24,817 (+112%), from €22,086 to €46,904
- Gross operating margin +€2,311
up €2,311 (+7.8%), from €29,800 to €32,110
- Other operating charges -€948
down €948 (-82.9%), from €1,145 to €196
- Taxes +€521
up €521 (+9.0%), from €5,786 to €6,307
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €32,643 | €58,056 | +€25,412 | +77.8% |
| Fixed assets | 21/28 | €1,957 | €1,432 | -€525 | -26.8% |
| Tangible fixed assets | 22/27 | €1,957 | €1,432 | -€525 | -26.8% |
| Plant, machinery and equipment | 23 | €462 | €364 | -€98 | -21.2% |
| Furniture and vehicles | 24 | €1,495 | €1,068 | -€427 | -28.6% |
| Current assets | 29/58 | €30,686 | €56,624 | +€25,938 | +84.5% |
| Amounts receivable within one year | 40/41 | €22,687 | €46,783 | +€24,096 | +106% |
| Trade receivables | 40 | €4,246 | €15,279 | +€11,033 | +260% |
| Other amounts receivable | 41 | €18,441 | €31,504 | +€13,063 | +70.8% |
| Cash at bank and in hand | 54/58 | €8,000 | €9,841 | +€1,842 | +23.0% |
| Total equity and liabilities | 10/49 | €32,643 | €58,056 | +€25,412 | +77.8% |
| Equity | 10/15 | €26,086 | €50,904 | +€24,817 | +95.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,086 | €46,904 | +€24,817 | +112% |
| Amounts payable | 17/49 | €6,557 | €7,152 | +€595 | +9.1% |
| Amounts payable within one year | 42/48 | €6,557 | €7,152 | +€595 | +9.1% |
| Trade debts | 44 | €471 | €545 | +€74 | +15.8% |
| Suppliers | 440/4 | €471 | €545 | +€74 | +15.8% |
| Taxes, remuneration and social security | 45 | €6,086 | €6,607 | +€521 | +8.6% |
| Taxes | 450/3 | €6,086 | €6,607 | +€521 | +8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €670 | €525 | -€145 | -21.6% |
| Other operating charges | 640/8 | €1,145 | €196 | -€948 | -82.9% |
| Gross operating margin | 9900 | €29,800 | €32,110 | +€2,311 | +7.8% |
| Operating profit (loss) | 9901 | €27,985 | €31,389 | +€3,404 | +12.2% |
| Financial charges | 65/66B | €113 | €264 | +€152 | +135% |
| Recurring financial charges | 65 | €113 | €264 | +€152 | +135% |
| Profit (loss) for the period before taxes | 9903 | €27,872 | €31,124 | +€3,252 | +11.7% |
| Income taxes | 67/77 | €5,786 | €6,307 | +€521 | +9.0% |
| Profit (loss) for the period | 9904 | €22,086 | €24,817 | +€2,731 | +12.4% |
| Profit (loss) for the period to be appropriated | 9905 | €22,086 | €24,817 | +€2,731 | +12.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.