ZARJA: 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.
ZARJA
Largest movements
- Current investments +€30,000
up €30,000 (+30.0%), from €100,000 to €130,000
- Cash +€26,296
up €26,296 (+23.7%), from €110,996 to €137,292
mainly Net result for the year (+€67,993) and Tax, wage and social debts (+€9,307)
- Tangible fixed assets -€5,638
down €5,638 (-19.2%), from €29,363 to €23,725
- Reserves +€34,464
up €34,464 (+15.1%), from €228,577 to €263,041
- Tax, wage and social debts +€9,307
up €9,307 (+189%), from €4,934 to €14,241
- Other debts +€8,035
up €8,035 (+50.1%), from €16,043 to €24,078
- Gross operating margin -€5,528
down €5,528 (-5.8%), from €95,445 to €89,917
- Depreciation +€3,380
up €3,380 (+104%), from €3,257 to €6,637
- Financial income +€2,238
up €2,238 (+569%), from €393 to €2,632
- Taxes -€1,334
down €1,334 (-7.2%), from €18,562 to €17,228
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 | €250,583 | €302,360 | +€51,777 | +20.7% |
| Fixed assets | 21/28 | €29,363 | €23,725 | -€5,638 | -19.2% |
| Tangible fixed assets | 22/27 | €29,363 | €23,725 | -€5,638 | -19.2% |
| Furniture and vehicles | 24 | €29,363 | €23,725 | -€5,638 | -19.2% |
| Current assets | 29/58 | €221,220 | €278,635 | +€57,415 | +26.0% |
| Amounts receivable within one year | 40/41 | €10,224 | €10,218 | -€6 | -0.1% |
| Trade receivables | 40 | €8,712 | €8,706 | -€6 | -0.1% |
| Other amounts receivable | 41 | €1,512 | €1,512 | = | 0.0% |
| Current investments | 50/53 | €100,000 | €130,000 | +€30,000 | +30.0% |
| Cash at bank and in hand | 54/58 | €110,996 | €137,292 | +€26,296 | +23.7% |
| Deferred charges and accrued income | 490/1 | - | €1,125 | +€1,125 | |
| Total equity and liabilities | 10/49 | €250,583 | €302,360 | +€51,777 | +20.7% |
| Equity | 10/15 | €229,577 | €264,041 | +€34,464 | +15.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €228,577 | €263,041 | +€34,464 | +15.1% |
| Distributable reserves | 133 | €228,577 | €263,041 | +€34,464 | +15.1% |
| Amounts payable | 17/49 | €21,006 | €38,319 | +€17,313 | +82.4% |
| Amounts payable within one year | 42/48 | €21,006 | €38,319 | +€17,313 | +82.4% |
| Trade debts | 44 | €29 | - | -€29 | |
| Suppliers | 440/4 | €29 | - | -€29 | |
| Taxes, remuneration and social security | 45 | €4,934 | €14,241 | +€9,307 | +189% |
| Taxes | 450/3 | €4,934 | €14,241 | +€9,307 | +189% |
| Other amounts payable | 47/48 | €16,043 | €24,078 | +€8,035 | +50.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,257 | €6,637 | +€3,380 | +104% |
| Other operating charges | 640/8 | €547 | €562 | +€16 | +2.8% |
| Gross operating margin | 9900 | €95,445 | €89,917 | -€5,528 | -5.8% |
| Operating profit (loss) | 9901 | €91,642 | €82,718 | -€8,924 | -9.7% |
| Financial income | 75/76B | €393 | €2,632 | +€2,238 | +569% |
| Recurring financial income | 75 | €393 | €2,632 | +€2,238 | +569% |
| Financial charges | 65/66B | €119 | €128 | +€9 | +7.8% |
| Recurring financial charges | 65 | €119 | €128 | +€9 | +7.8% |
| Profit (loss) for the period before taxes | 9903 | €91,916 | €85,221 | -€6,694 | -7.3% |
| Income taxes | 67/77 | €18,562 | €17,228 | -€1,334 | -7.2% |
| Profit (loss) for the period | 9904 | €73,354 | €67,993 | -€5,360 | -7.3% |
| Profit (loss) for the period to be appropriated | 9905 | €73,354 | €67,993 | -€5,360 | -7.3% |
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 20 October 2026 via checked.be.