Zarker: 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.
Zarker
Largest movements
- Tangible fixed assets +€415,567
up €415,567 (+2836.1%), from €14,653 to €430,219
of which Land and buildings: +€409,303
- Cash -€230,566
down €230,566 (-62.2%), from €370,399 to €139,833
mainly Investment in fixed assets (net) (-€419,124) and Advances received (-€330,000)
- Stocks and contracts -€50,510
no longer reported in 2025 (was €50,510)
- Receivables within one year -€32,851
down €32,851 (-58.3%), from €56,345 to €23,494
of which Other amounts receivable: -€52,234
- Deferred charges and accrued income -€8,033
down €8,033 (-73.7%), from €10,904 to €2,871
- Debts after one year +€351,384
new in 2025: €351,384
- Advances received -€330,000
no longer reported in 2025 (was €330,000)
- Profit (loss) carried forward +€135,146
up €135,146 (+923.8%), from €14,629 to €149,775
- Trade debts -€59,214
down €59,214 (-77.9%), from €75,991 to €16,777
- Tax, wage and social debts -€27,626
down €27,626 (-91.1%), from €30,320 to €2,693
of which Remuneration and social security: -€15,859
- Staff costs -€150,159
down €150,159, from €139,914 to -€10,246
- Taxes +€37,956
up €37,956 (+466.0%), from €8,145 to €46,101
- Gross operating margin +€31,666
up €31,666 (+18.7%), from €169,404 to €201,070
- Depreciation +€7,195
up €7,195 (+333.4%), from €2,158 to €9,353
- Provisions +€7,031
new in 2025: €7,031
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 | €508,770 | €596,580 | +€87,810 | +17.3% |
| Fixed assets | 21/28 | €20,611 | €430,382 | +€409,770 | +1988.1% |
| Tangible fixed assets | 22/27 | €14,653 | €430,219 | +€415,567 | +2836.1% |
| Land and buildings | 22 | - | €409,303 | +€409,303 | |
| Plant, machinery and equipment | 23 | €14,099 | €3,528 | -€10,571 | -75.0% |
| Furniture and vehicles | 24 | €554 | €17,389 | +€16,835 | +3040.1% |
| Financial fixed assets | 28 | €5,959 | €162 | -€5,796 | -97.3% |
| Current assets | 29/58 | €488,159 | €166,199 | -€321,960 | -66.0% |
| Stocks and contracts in progress | 3 | €50,510 | - | -€50,510 | |
| Stocks | 30/36 | €50,510 | - | -€50,510 | |
| Amounts receivable within one year | 40/41 | €56,345 | €23,494 | -€32,851 | -58.3% |
| Trade receivables | 40 | €79 | €19,462 | +€19,383 | +24592.0% |
| Other amounts receivable | 41 | €56,266 | €4,032 | -€52,234 | -92.8% |
| Cash at bank and in hand | 54/58 | €370,399 | €139,833 | -€230,566 | -62.2% |
| Deferred charges and accrued income | 490/1 | €10,904 | €2,871 | -€8,033 | -73.7% |
| Total equity and liabilities | 10/49 | €508,770 | €596,580 | +€87,810 | +17.3% |
| Equity | 10/15 | €33,820 | €168,966 | +€135,146 | +399.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €591 | €591 | = | 0.0% |
| Non-distributable reserves | 130/1 | €591 | €591 | = | 0.0% |
| Reserves not available under the articles | 1311 | €591 | €591 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,629 | €149,775 | +€135,146 | +923.8% |
| Amounts payable | 17/49 | €474,950 | €427,614 | -€47,336 | -10.0% |
| Amounts payable after more than one year | 17 | - | €351,384 | +€351,384 | |
| Financial debts | 170/4 | - | €351,384 | +€351,384 | |
| Amounts payable within one year | 42/48 | €472,250 | €76,230 | -€396,020 | -83.9% |
| Current portion of amounts payable after more than one year | 42 | - | €17,813 | +€17,813 | |
| Trade debts | 44 | €75,991 | €16,777 | -€59,214 | -77.9% |
| Suppliers | 440/4 | €75,991 | €16,777 | -€59,214 | -77.9% |
| Advances received on contracts in progress | 46 | €330,000 | - | -€330,000 | |
| Taxes, remuneration and social security | 45 | €30,320 | €2,693 | -€27,626 | -91.1% |
| Taxes | 450/3 | €14,461 | €2,693 | -€11,768 | -81.4% |
| Remuneration and social security | 454/9 | €15,859 | - | -€15,859 | |
| Other amounts payable | 47/48 | €35,939 | €38,946 | +€3,007 | +8.4% |
| Accrued charges and deferred income | 492/3 | €2,700 | - | -€2,700 | |
| Remuneration, social security and pensions | 62 | €139,914 | -€10,246 | -€150,159 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,158 | €9,353 | +€7,195 | +333.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €7,031 | +€7,031 | |
| Other operating charges | 640/8 | €136 | €6,984 | +€6,848 | +5050.1% |
| Gross operating margin | 9900 | €169,404 | €201,070 | +€31,666 | +18.7% |
| Operating profit (loss) | 9901 | €27,196 | €187,947 | +€160,751 | +591.1% |
| Financial income | 75/76B | €890 | €127 | -€763 | -85.7% |
| Recurring financial income | 75 | €890 | €127 | -€763 | -85.7% |
| Financial charges | 65/66B | €2,942 | €6,827 | +€3,885 | +132.1% |
| Recurring financial charges | 65 | €2,942 | €6,827 | +€3,885 | +132.1% |
| Profit (loss) for the period before taxes | 9903 | €25,144 | €181,247 | +€156,103 | +620.8% |
| Income taxes | 67/77 | €8,145 | €46,101 | +€37,956 | +466.0% |
| Profit (loss) for the period | 9904 | €16,999 | €135,146 | +€118,147 | +695.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,999 | €135,146 | +€118,147 | +695.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.