ZARINE: 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.
ZARINE
Largest movements
- Stocks and contracts -€30,752
down €30,752 (-58.3%), from €52,791 to €22,039
- Cash +€16,320
up €16,320 (+25.7%), from €63,393 to €79,713
mainly Stocks and contracts (+€30,752) and Tax, wage and social debts (+€11,208)
- Tangible fixed assets -€5,913
down €5,913 (-51.8%), from €11,421 to €5,508
of which Furniture and vehicles: -€5,767
- Receivables within one year +€1,712
up €1,712 (+5.6%), from €30,741 to €32,453
- Reserves -€23,729
down €23,729 (-92.7%), from €25,589 to €1,860
of which Distributable reserves: -€23,729
- Trade debts -€12,231
down €12,231 (-77.6%), from €15,758 to €3,527
- Tax, wage and social debts +€11,208
up €11,208 (+86.6%), from €12,947 to €24,155
of which Remuneration and social security: +€10,994
- Profit (loss) carried forward +€6,900
up €6,900 (+8.0%), from €86,177 to €93,077
- Turnover -€48,174
down €48,174 (-5.7%), from €839,214 to €791,041
- Purchases and services -€43,723
down €43,723 (-5.6%), from €784,260 to €740,537
- Staff costs +€36,362
up €36,362 (+87.4%), from €41,591 to €77,953
- Gross operating margin +€10,236
up €10,236 (+16.1%), from €63,381 to €73,617
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 | €159,071 | €141,219 | -€17,853 | -11.2% |
| Fixed assets | 21/28 | €11,421 | €5,508 | -€5,913 | -51.8% |
| Tangible fixed assets | 22/27 | €11,421 | €5,508 | -€5,913 | -51.8% |
| Plant, machinery and equipment | 23 | €1,052 | €906 | -€146 | -13.8% |
| Furniture and vehicles | 24 | €10,369 | €4,602 | -€5,767 | -55.6% |
| Current assets | 29/58 | €147,650 | €135,710 | -€11,940 | -8.1% |
| Stocks and contracts in progress | 3 | €52,791 | €22,039 | -€30,752 | -58.3% |
| Stocks | 30/36 | €52,791 | €22,039 | -€30,752 | -58.3% |
| Amounts receivable within one year | 40/41 | €30,741 | €32,453 | +€1,712 | +5.6% |
| Other amounts receivable | 41 | €30,741 | €32,453 | +€1,712 | +5.6% |
| Cash at bank and in hand | 54/58 | €63,393 | €79,713 | +€16,320 | +25.7% |
| Deferred charges and accrued income | 490/1 | €725 | €1,505 | +€779 | +107% |
| Total equity and liabilities | 10/49 | €159,071 | €141,219 | -€17,853 | -11.2% |
| Equity | 10/15 | €130,367 | €113,537 | -€16,830 | -12.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €25,589 | €1,860 | -€23,729 | -92.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €23,729 | - | -€23,729 | |
| Profit (loss) carried forward | 14 | €86,177 | €93,077 | +€6,900 | +8.0% |
| Amounts payable | 17/49 | €28,704 | €27,682 | -€1,023 | -3.6% |
| Amounts payable within one year | 42/48 | €28,704 | €27,682 | -€1,023 | -3.6% |
| Trade debts | 44 | €15,758 | €3,527 | -€12,231 | -77.6% |
| Suppliers | 440/4 | €15,758 | €3,527 | -€12,231 | -77.6% |
| Taxes, remuneration and social security | 45 | €12,947 | €24,155 | +€11,208 | +86.6% |
| Taxes | 450/3 | €4,829 | €5,042 | +€214 | +4.4% |
| Remuneration and social security | 454/9 | €8,118 | €19,112 | +€10,994 | +135% |
| Turnover | 70 | €839,214 | €791,041 | -€48,174 | -5.7% |
| Non-recurring operating income | 76A | €8,426 | - | -€8,426 | |
| Goods, raw materials, services and sundry goods | 60/61 | €784,260 | €740,537 | -€43,723 | -5.6% |
| Remuneration, social security and pensions | 62 | €41,591 | €77,953 | +€36,362 | +87.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,515 | €5,913 | -€1,603 | -21.3% |
| Other operating charges | 640/8 | €1,808 | €3,656 | +€1,848 | +102% |
| Gross operating margin | 9900 | €63,381 | €73,617 | +€10,236 | +16.1% |
| Operating profit (loss) | 9901 | €12,467 | -€13,905 | -€26,372 | |
| Financial income | 75/76B | €1,810 | €1,712 | -€97 | -5.4% |
| Recurring financial income | 75 | €1,810 | €1,712 | -€97 | -5.4% |
| Financial charges | 65/66B | €108 | €104 | -€4 | -3.6% |
| Recurring financial charges | 65 | €108 | €104 | -€4 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | €14,169 | -€12,297 | -€26,465 | |
| Income taxes | 67/77 | €5,072 | €4,533 | -€539 | -10.6% |
| Profit (loss) for the period | 9904 | €9,096 | -€16,830 | -€25,926 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,096 | -€16,830 | -€25,926 |
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 27 October 2026 via checked.be.