ZAREKO: 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.
ZAREKO
Largest movements
- Cash -€256,438
down €256,438 (-98.6%), from €260,155 to €3,717
mainly Current investments (-€229,625) and Receivables within one year (-€33,627)
- Current investments +€229,625
up €229,625 (+61233.3%), from €375 to €230,000
- Receivables within one year +€33,627
up €33,627 (+6.8%), from €494,712 to €528,339
- Deferred charges and accrued income -€28,499
down €28,499 (-72.3%), from €39,413 to €10,914
- Tax, wage and social debts -€32,088
down €32,088 (-93.8%), from €34,217 to €2,129
- Reserves +€9,573
up €9,573 (+1.4%), from €679,111 to €688,683
of which Distributable reserves: +€9,573
- Financial income -€51,311
down €51,311 (-78.2%), from €65,578 to €14,267
- Taxes -€13,967
down €13,967 (-80.6%), from €17,338 to €3,371
- Gross operating margin +€1,108
up €1,108 (+65.9%), from -€1,682 to -€574
- Other operating charges +€452
up €452 (+382.8%), from €118 to €570
- Financial charges +€30
up €30 (+20.0%), from €150 to €180
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 | €795,328 | €772,971 | -€22,357 | -2.8% |
| Fixed assets | 21/28 | €672 | €0 | -€672 | -100.0% |
| Financial fixed assets | 28 | €672 | €0 | -€672 | -100.0% |
| Current assets | 29/58 | €794,656 | €772,971 | -€21,685 | -2.7% |
| Amounts receivable within one year | 40/41 | €494,712 | €528,339 | +€33,627 | +6.8% |
| Other amounts receivable | 41 | €494,712 | €528,339 | +€33,627 | +6.8% |
| Current investments | 50/53 | €375 | €230,000 | +€229,625 | +61233.3% |
| Cash at bank and in hand | 54/58 | €260,155 | €3,717 | -€256,438 | -98.6% |
| Deferred charges and accrued income | 490/1 | €39,413 | €10,914 | -€28,499 | -72.3% |
| Total equity and liabilities | 10/49 | €795,328 | €772,971 | -€22,357 | -2.8% |
| Equity | 10/15 | €761,111 | €770,683 | +€9,573 | +1.3% |
| Contributions | 10/11 | €82,000 | €82,000 | = | 0.0% |
| Capital | 10 | €82,000 | €82,000 | = | 0.0% |
| Issued capital | 100 | €82,000 | €82,000 | = | 0.0% |
| Reserves | 13 | €679,111 | €688,683 | +€9,573 | +1.4% |
| Non-distributable reserves | 130/1 | €8,200 | €8,200 | = | 0.0% |
| Legal reserve | 130 | €8,200 | €8,200 | = | 0.0% |
| Distributable reserves | 133 | €670,911 | €680,483 | +€9,573 | +1.4% |
| Amounts payable | 17/49 | €34,217 | €2,287 | -€31,929 | -93.3% |
| Amounts payable within one year | 42/48 | €34,217 | €2,287 | -€31,929 | -93.3% |
| Trade debts | 44 | - | €159 | +€159 | |
| Suppliers | 440/4 | - | €159 | +€159 | |
| Taxes, remuneration and social security | 45 | €34,217 | €2,129 | -€32,088 | -93.8% |
| Taxes | 450/3 | €34,217 | €2,129 | -€32,088 | -93.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Other operating charges | 640/8 | €118 | €570 | +€452 | +382.8% |
| Gross operating margin | 9900 | -€1,682 | -€574 | +€1,108 | +65.9% |
| Operating profit (loss) | 9901 | -€1,800 | -€1,144 | +€657 | +36.5% |
| Financial income | 75/76B | €65,578 | €14,267 | -€51,311 | -78.2% |
| Recurring financial income | 75 | €65,578 | €14,267 | -€51,311 | -78.2% |
| Financial charges | 65/66B | €150 | €180 | +€30 | +20.0% |
| Recurring financial charges | 65 | €150 | €180 | +€30 | +20.0% |
| Profit (loss) for the period before taxes | 9903 | €63,628 | €12,944 | -€50,684 | -79.7% |
| Income taxes | 67/77 | €17,338 | €3,371 | -€13,967 | -80.6% |
| Profit (loss) for the period | 9904 | €46,290 | €9,573 | -€36,717 | -79.3% |
| Profit (loss) for the period to be appropriated | 9905 | €46,290 | €9,573 | -€36,717 | -79.3% |
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 6 October 2026 via checked.be.