ZARO IMMO: 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.
ZARO IMMO
Largest movements
- Tangible fixed assets -€22,975
down €22,975 (-4.5%), from €512,349 to €489,374
- Profit (loss) carried forward -€32,468
down €32,468, from €28,809 to -€3,658
- Debts after one year -€32,106
down €32,106 (-4.4%), from €725,217 to €693,111
of which Financial debts: -€23,845
- Other debts +€28,416
up €28,416 (+4.6%), from €622,009 to €650,425
- Financial income -€76,615
no longer reported in 2025 (was €76,615)
- Other operating charges -€55,152
down €55,152 (-87.0%), from €63,412 to €8,259
- Turnover +€29,524
up €29,524 (+94.3%), from €31,314 to €60,837
- Gross operating margin +€18,810
up €18,810 (+162%), from €11,623 to €30,433
- Purchases and services +€10,437
up €10,437 (+52.3%), from €19,968 to €30,405
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 | €1,429,805 | €1,400,977 | -€28,829 | -2.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,158,981 | €1,136,006 | -€22,975 | -2.0% |
| Tangible fixed assets | 22/27 | €512,349 | €489,374 | -€22,975 | -4.5% |
| Land and buildings | 22 | €512,349 | €489,374 | -€22,975 | -4.5% |
| Financial fixed assets | 28 | €646,632 | €646,632 | = | 0.0% |
| Current assets | 29/58 | €270,824 | €264,970 | -€5,854 | -2.2% |
| Stocks and contracts in progress | 3 | €267,257 | €259,849 | -€7,408 | -2.8% |
| Stocks | 30/36 | €267,257 | €259,849 | -€7,408 | -2.8% |
| Amounts receivable within one year | 40/41 | €0 | €0 | = | |
| Trade receivables | 40 | - | €0 | = | |
| Other amounts receivable | 41 | €0 | €0 | = | |
| Cash at bank and in hand | 54/58 | €3,326 | €4,888 | +€1,563 | +47.0% |
| Deferred charges and accrued income | 490/1 | €241 | €233 | -€9 | -3.5% |
| Total equity and liabilities | 10/49 | €1,429,805 | €1,400,977 | -€28,829 | -2.0% |
| Equity | 10/15 | €47,409 | €14,942 | -€32,468 | -68.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,809 | -€3,658 | -€32,468 | |
| Amounts payable | 17/49 | €1,382,396 | €1,386,035 | +€3,639 | +0.3% |
| Amounts payable after more than one year | 17 | €725,217 | €693,111 | -€32,106 | -4.4% |
| Financial debts | 170/4 | €645,429 | €621,583 | -€23,845 | -3.7% |
| Advances received on contracts in progress | 176 | €79,789 | €71,527 | -€8,261 | -10.4% |
| Amounts payable within one year | 42/48 | €657,178 | €692,924 | +€35,746 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | €34,225 | €32,197 | -€2,028 | -5.9% |
| Financial debts | 43 | €36 | €0 | -€36 | -100% |
| Credit institutions | 430/8 | €36 | €0 | -€36 | -100% |
| Trade debts | 44 | €909 | €7,803 | +€6,894 | +759% |
| Suppliers | 440/4 | €909 | €7,803 | +€6,894 | +759% |
| Taxes, remuneration and social security | 45 | - | €2,500 | +€2,500 | |
| Taxes | 450/3 | - | €2,500 | +€2,500 | |
| Other amounts payable | 47/48 | €622,009 | €650,425 | +€28,416 | +4.6% |
| Turnover | 70 | €31,314 | €60,837 | +€29,524 | +94.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €19,968 | €30,405 | +€10,437 | +52.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,567 | €22,975 | +€2,408 | +11.7% |
| Other operating charges | 640/8 | €63,412 | €8,259 | -€55,152 | -87.0% |
| Gross operating margin | 9900 | €11,623 | €30,433 | +€18,810 | +162% |
| Operating profit (loss) | 9901 | -€72,356 | -€801 | +€71,555 | +98.9% |
| Financial income | 75/76B | €76,615 | - | -€76,615 | |
| Recurring financial income | 75 | €76,615 | - | -€76,615 | |
| Financial charges | 65/66B | €30,632 | €31,666 | +€1,035 | +3.4% |
| Recurring financial charges | 65 | €30,632 | €31,666 | +€1,035 | +3.4% |
| Profit (loss) for the period before taxes | 9903 | -€26,373 | -€32,468 | -€6,095 | -23.1% |
| Profit (loss) for the period | 9904 | -€26,373 | -€32,468 | -€6,095 | -23.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,373 | -€32,468 | -€6,095 | -23.1% |
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 21 October 2026 via checked.be.