ZARPA: 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.
ZARPA
Largest movements
- Tangible fixed assets -€29,945
down €29,945 (-26.0%), from €115,055 to €85,110
of which Land and buildings: -€26,985
- Debts after one year -€22,006
down €22,006 (-31.7%), from €69,419 to €47,413
- Current portion of long-term debt -€9,067
down €9,067 (-29.2%), from €31,057 to €21,990
- Other debts -€4,000
down €4,000 (-21.3%), from €18,758 to €14,758
- Profit (loss) carried forward +€3,899
up €3,899 (+6.9%), from -€56,359 to -€52,460
- Gross operating margin -€26,047
down €26,047 (-38.8%), from €67,063 to €41,016
- Other operating charges -€6,407
down €6,407 (-64.9%), from €9,875 to €3,468
- Depreciation -€4,631
down €4,631 (-13.4%), from €34,576 to €29,945
- Financial charges -€1,728
down €1,728 (-31.8%), from €5,432 to €3,704
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 | €125,012 | €93,838 | -€31,174 | -24.9% |
| Fixed assets | 21/28 | €115,055 | €85,110 | -€29,945 | -26.0% |
| Tangible fixed assets | 22/27 | €115,055 | €85,110 | -€29,945 | -26.0% |
| Land and buildings | 22 | €107,869 | €80,884 | -€26,985 | -25.0% |
| Plant, machinery and equipment | 23 | €7,186 | €4,226 | -€2,960 | -41.2% |
| Current assets | 29/58 | €9,957 | €8,728 | -€1,229 | -12.3% |
| Cash at bank and in hand | 54/58 | €9,957 | €8,728 | -€1,229 | -12.3% |
| Total equity and liabilities | 10/49 | €125,012 | €93,838 | -€31,174 | -24.9% |
| Equity | 10/15 | €5,641 | €9,540 | +€3,899 | +69.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€56,359 | -€52,460 | +€3,899 | +6.9% |
| Amounts payable | 17/49 | €119,371 | €84,298 | -€35,073 | -29.4% |
| Amounts payable after more than one year | 17 | €69,419 | €47,413 | -€22,006 | -31.7% |
| Financial debts | 170/4 | €69,419 | €47,413 | -€22,006 | -31.7% |
| Amounts payable within one year | 42/48 | €49,952 | €36,885 | -€13,067 | -26.2% |
| Current portion of amounts payable after more than one year | 42 | €31,057 | €21,990 | -€9,067 | -29.2% |
| Trade debts | 44 | €137 | €137 | = | 0.0% |
| Suppliers | 440/4 | €137 | €137 | = | 0.0% |
| Other amounts payable | 47/48 | €18,758 | €14,758 | -€4,000 | -21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,576 | €29,945 | -€4,631 | -13.4% |
| Other operating charges | 640/8 | €9,875 | €3,468 | -€6,407 | -64.9% |
| Gross operating margin | 9900 | €67,063 | €41,016 | -€26,047 | -38.8% |
| Operating profit (loss) | 9901 | €22,612 | €7,603 | -€15,009 | -66.4% |
| Financial charges | 65/66B | €5,432 | €3,704 | -€1,728 | -31.8% |
| Recurring financial charges | 65 | €5,432 | €3,704 | -€1,728 | -31.8% |
| Profit (loss) for the period before taxes | 9903 | €17,180 | €3,899 | -€13,281 | -77.3% |
| Profit (loss) for the period | 9904 | €17,180 | €3,899 | -€13,281 | -77.3% |
| Profit (loss) for the period to be appropriated | 9905 | €17,180 | €3,899 | -€13,281 | -77.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.