ZAROLL: 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.
ZAROLL
Largest movements
- Receivables after one year +€103,205
new in 2025: €103,205
- Tangible fixed assets -€51,356
down €51,356 (-2.6%), from €2.0m to €1.9m
of which Plant, machinery and equipment: -€39,825
- Debts after one year -€690,432
down €690,432 (-74.2%), from €930,432 to €240,000
- Other debts +€629,532
new in 2025: €629,532
- Short-term financial debts +€65,876
new in 2025: €65,876
- Reserves +€46,634
up €46,634 (+48.4%), from €96,442 to €143,076
of which Distributable reserves: +€143,076
- Profit (loss) carried forward -€44,983
down €44,983 (-100.0%), from €44,983 to €0
- Gross operating margin -€87,682
down €87,682 (-43.3%), from €202,549 to €114,867
- Financial charges -€25,456
down €25,456 (-50.1%), from €50,850 to €25,394
- Taxes +€21,428
new in 2025: €21,428
- Other operating charges +€3,773
up €3,773 (+47.8%), from €7,886 to €11,659
- Depreciation -€3,736
down €3,736 (-6.8%), from €55,092 to €51,356
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 | €2,023,993 | €2,052,144 | +€28,151 | +1.4% |
| Fixed assets | 21/28 | €1,989,529 | €1,938,173 | -€51,356 | -2.6% |
| Tangible fixed assets | 22/27 | €1,989,529 | €1,938,173 | -€51,356 | -2.6% |
| Land and buildings | 22 | €1,874,596 | €1,924,107 | +€49,511 | +2.6% |
| Plant, machinery and equipment | 23 | €39,825 | €0 | -€39,825 | -100.0% |
| Furniture and vehicles | 24 | €20,602 | €14,066 | -€6,536 | -31.7% |
| Leasing and similar rights | 25 | €18,472 | €0 | -€18,472 | -100.0% |
| Other tangible fixed assets | 26 | €36,034 | €0 | -€36,034 | -100.0% |
| Current assets | 29/58 | €34,464 | €113,971 | +€79,507 | +230.7% |
| Amounts receivable after more than one year | 29 | - | €103,205 | +€103,205 | |
| Other amounts receivable | 291 | - | €103,205 | +€103,205 | |
| Amounts receivable within one year | 40/41 | €17,014 | €7,524 | -€9,490 | -55.8% |
| Trade receivables | 40 | - | €5,000 | +€5,000 | |
| Other amounts receivable | 41 | €17,014 | €2,524 | -€14,490 | -85.2% |
| Cash at bank and in hand | 54/58 | €14,280 | €0 | -€14,280 | -100.0% |
| Deferred charges and accrued income | 490/1 | €3,170 | €3,242 | +€72 | +2.3% |
| Total equity and liabilities | 10/49 | €2,023,993 | €2,052,144 | +€28,151 | +1.4% |
| Equity | 10/15 | €1,090,669 | €1,092,320 | +€1,651 | +0.2% |
| Contributions | 10/11 | €197,671 | €197,671 | -€0 | 0.0% |
| Revaluation surpluses | 12 | €751,573 | €751,573 | -€0 | 0.0% |
| Reserves | 13 | €96,442 | €143,076 | +€46,634 | +48.4% |
| Tax-exempt reserves | 132 | €96,442 | - | -€96,442 | |
| Distributable reserves | 133 | - | €143,076 | +€143,076 | |
| Profit (loss) carried forward | 14 | €44,983 | €0 | -€44,983 | -100.0% |
| Amounts payable | 17/49 | €933,324 | €959,824 | +€26,500 | +2.8% |
| Amounts payable after more than one year | 17 | €930,432 | €240,000 | -€690,432 | -74.2% |
| Financial debts | 170/4 | €930,432 | €240,000 | -€690,432 | -74.2% |
| Amounts payable within one year | 42/48 | €2,892 | €719,824 | +€716,932 | +24790.2% |
| Financial debts | 43 | - | €65,876 | +€65,876 | |
| Credit institutions | 430/8 | - | €65,876 | +€65,876 | |
| Trade debts | 44 | €1,799 | €2,988 | +€1,189 | +66.1% |
| Suppliers | 440/4 | €1,799 | €2,988 | +€1,189 | +66.1% |
| Taxes, remuneration and social security | 45 | €1,093 | €21,428 | +€20,335 | +1860.5% |
| Taxes | 450/3 | €1,093 | €21,428 | +€20,335 | +1860.5% |
| Other amounts payable | 47/48 | - | €629,532 | +€629,532 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,092 | €51,356 | -€3,736 | -6.8% |
| Other operating charges | 640/8 | €7,886 | €11,659 | +€3,773 | +47.8% |
| Non-recurring operating charges | 66A | - | €3,380 | +€3,380 | |
| Gross operating margin | 9900 | €202,549 | €114,867 | -€87,682 | -43.3% |
| Operating profit (loss) | 9901 | €139,571 | €48,473 | -€91,098 | -65.3% |
| Financial charges | 65/66B | €50,850 | €25,394 | -€25,456 | -50.1% |
| Recurring financial charges | 65 | €50,850 | €25,394 | -€25,456 | -50.1% |
| Profit (loss) for the period before taxes | 9903 | €88,721 | €23,079 | -€65,642 | -74.0% |
| Income taxes | 67/77 | - | €21,428 | +€21,428 | |
| Profit (loss) for the period | 9904 | €88,721 | €1,651 | -€87,070 | -98.1% |
| Profit (loss) for the period to be appropriated | 9905 | €88,721 | €1,651 | -€87,070 | -98.1% |
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 3 October 2026 via checked.be.