ZARRA: 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.
ZARRA
Largest movements
- Current investments -€1.2m
down €1.2m (-100.0%), from €1.2m to €0
- Cash +€1.2m
up €1.2m (+1177.3%), from €102,582 to €1.3m
mainly Current investments (+€1.2m) and Net result for the year (+€269,096)
- Tangible fixed assets +€186,766
up €186,766 (+24.1%), from €775,460 to €962,226
of which Plant, machinery and equipment: +€186,766
- Receivables within one year +€31,706
up €31,706 (+14.3%), from €221,647 to €253,353
of which Trade receivables: +€30,700
- Profit (loss) carried forward +€260,755
up €260,755 (+53.3%), from €489,531 to €750,286
- Debts after one year -€127,706
down €127,706 (-26.5%), from €481,494 to €353,788
- Gross operating margin +€111,586
up €111,586 (+29.4%), from €379,682 to €491,268
- Other operating charges +€40,753
up €40,753 (+56.8%), from €71,711 to €112,464
- Depreciation +€20,645
up €20,645 (+100.9%), from €20,463 to €41,109
- Taxes +€16,407
up €16,407 (+20.9%), from €78,363 to €94,770
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 | €2,478,884 | €2,681,188 | +€202,304 | +8.2% |
| Fixed assets | 21/28 | €778,134 | €964,900 | +€186,766 | +24.0% |
| Tangible fixed assets | 22/27 | €775,460 | €962,226 | +€186,766 | +24.1% |
| Land and buildings | 22 | €605,299 | €605,299 | = | 0.0% |
| Plant, machinery and equipment | 23 | €170,160 | €356,927 | +€186,766 | +109.8% |
| Financial fixed assets | 28 | €2,674 | €2,674 | = | 0.0% |
| Current assets | 29/58 | €1,700,750 | €1,716,288 | +€15,538 | +0.9% |
| Amounts receivable within one year | 40/41 | €221,647 | €253,353 | +€31,706 | +14.3% |
| Trade receivables | 40 | €1,800 | €32,500 | +€30,700 | +1705.6% |
| Other amounts receivable | 41 | €219,847 | €220,853 | +€1,006 | +0.5% |
| Current investments | 50/53 | €1,246,400 | €0 | -€1.2m | -100.0% |
| Cash at bank and in hand | 54/58 | €102,582 | €1,310,270 | +€1.2m | +1177.3% |
| Deferred charges and accrued income | 490/1 | €130,122 | €152,665 | +€22,543 | +17.3% |
| Total equity and liabilities | 10/49 | €2,478,884 | €2,681,188 | +€202,304 | +8.2% |
| Equity | 10/15 | €1,096,833 | €1,365,929 | +€269,096 | +24.5% |
| Contributions | 10/11 | €350,000 | €350,000 | = | 0.0% |
| Capital | 10 | €350,000 | €350,000 | = | 0.0% |
| Issued capital | 100 | €350,000 | €350,000 | = | 0.0% |
| Reserves | 13 | €257,302 | €265,643 | +€8,341 | +3.2% |
| Non-distributable reserves | 130/1 | €1,910 | €15,634 | +€13,724 | +718.4% |
| Legal reserve | 130 | €1,910 | €15,634 | +€13,724 | +718.4% |
| Tax-exempt reserves | 132 | €171,772 | €166,389 | -€5,383 | -3.1% |
| Distributable reserves | 133 | €83,620 | €83,620 | = | 0.0% |
| Profit (loss) carried forward | 14 | €489,531 | €750,286 | +€260,755 | +53.3% |
| Provisions and deferred taxes | 16 | €57,257 | €55,463 | -€1,794 | -3.1% |
| Deferred taxes | 168 | €57,257 | €55,463 | -€1,794 | -3.1% |
| Amounts payable | 17/49 | €1,324,794 | €1,259,796 | -€64,998 | -4.9% |
| Amounts payable after more than one year | 17 | €481,494 | €353,788 | -€127,706 | -26.5% |
| Other amounts payable | 178/9 | €481,494 | €353,788 | -€127,706 | -26.5% |
| Amounts payable within one year | 42/48 | €644,165 | €695,384 | +€51,218 | +8.0% |
| Trade debts | 44 | €161,682 | €174,760 | +€13,078 | +8.1% |
| Suppliers | 440/4 | €161,682 | €174,760 | +€13,078 | +8.1% |
| Advances received on contracts in progress | 46 | €18,072 | €18,243 | +€172 | +1.0% |
| Taxes, remuneration and social security | 45 | €12,305 | €24,660 | +€12,355 | +100.4% |
| Taxes | 450/3 | €12,305 | €24,660 | +€12,355 | +100.4% |
| Other amounts payable | 47/48 | €452,106 | €477,720 | +€25,613 | +5.7% |
| Accrued charges and deferred income | 492/3 | €199,134 | €210,624 | +€11,490 | +5.8% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,463 | €41,109 | +€20,645 | +100.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €867 | €0 | -€867 | -100.0% |
| Other operating charges | 640/8 | €71,711 | €112,464 | +€40,753 | +56.8% |
| Gross operating margin | 9900 | €379,682 | €491,268 | +€111,586 | +29.4% |
| Operating profit (loss) | 9901 | €286,640 | €337,695 | +€51,055 | +17.8% |
| Financial income | 75/76B | €23,193 | €24,734 | +€1,541 | +6.6% |
| Recurring financial income | 75 | €23,193 | €24,734 | +€1,541 | +6.6% |
| Financial charges | 65/66B | €314 | €357 | +€43 | +13.6% |
| Recurring financial charges | 65 | €314 | €357 | +€43 | +13.6% |
| Profit (loss) for the period before taxes | 9903 | €309,519 | €362,072 | +€52,553 | +17.0% |
| Transfer from deferred taxes | 780 | €288 | €1,794 | +€1,506 | +523.3% |
| Income taxes | 67/77 | €78,363 | €94,770 | +€16,407 | +20.9% |
| Profit (loss) for the period | 9904 | €231,444 | €269,096 | +€37,652 | +16.3% |
| Transfer from tax-exempt reserves | 789 | €864 | €5,383 | +€4,519 | +523.3% |
| Profit (loss) for the period to be appropriated | 9905 | €232,308 | €274,479 | +€42,171 | +18.2% |
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 4 October 2026 via checked.be.