ZAZAR: 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.
ZAZAR
Largest movements
- Receivables within one year -€30,504
down €30,504 (-15.7%), from €194,508 to €164,004
of which Trade receivables: -€96,477
- Receivables after one year -€17,500
down €17,500 (-12.5%), from €140,000 to €122,500
- Cash +€10,661
up €10,661 (+99.2%), from €10,744 to €21,405
mainly Net result for the year (+€46,764) and Receivables within one year (+€30,504)
- Trade debts -€80,001
down €80,001 (-46.3%), from €172,797 to €92,796
- Profit (loss) carried forward +€46,764
up €46,764 (+32.5%), from €143,697 to €190,461
- Debts after one year -€3,847
no longer reported in 2025 (was €3,847)
- Tax, wage and social debts -€3,669
down €3,669 (-26.2%), from €14,015 to €10,347
of which Taxes: -€4,175
- Gross operating margin +€88,279
up €88,279, from -€15,881 to €72,398
- Write-downs +€50,000
no longer reported in 2025 (was -€50,000)
- Other operating charges -€14,488
down €14,488 (-91.6%), from €15,821 to €1,333
- Taxes +€6,474
up €6,474 (+64.7%), from €10,000 to €16,474
- Financial charges +€3,943
up €3,943 (+371%), from €1,063 to €5,006
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 | €349,841 | €309,910 | -€39,931 | -11.4% |
| Fixed assets | 21/28 | €4,589 | €1,759 | -€2,830 | -61.7% |
| Tangible fixed assets | 22/27 | €4,589 | €1,759 | -€2,830 | -61.7% |
| Plant, machinery and equipment | 23 | €1,128 | - | -€1,128 | |
| Furniture and vehicles | 24 | €3,461 | €1,759 | -€1,702 | -49.2% |
| Current assets | 29/58 | €345,252 | €308,152 | -€37,101 | -10.7% |
| Amounts receivable after more than one year | 29 | €140,000 | €122,500 | -€17,500 | -12.5% |
| Other amounts receivable | 291 | €140,000 | €122,500 | -€17,500 | -12.5% |
| Amounts receivable within one year | 40/41 | €194,508 | €164,004 | -€30,504 | -15.7% |
| Trade receivables | 40 | €154,145 | €57,668 | -€96,477 | -62.6% |
| Other amounts receivable | 41 | €40,363 | €106,336 | +€65,973 | +163% |
| Cash at bank and in hand | 54/58 | €10,744 | €21,405 | +€10,661 | +99.2% |
| Deferred charges and accrued income | 490/1 | - | €242 | +€242 | |
| Total equity and liabilities | 10/49 | €349,841 | €309,910 | -€39,931 | -11.4% |
| Equity | 10/15 | €155,257 | €202,021 | +€46,764 | +30.1% |
| Contributions | 10/11 | €9,700 | €9,700 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €143,697 | €190,461 | +€46,764 | +32.5% |
| Amounts payable | 17/49 | €194,584 | €107,889 | -€86,695 | -44.6% |
| Amounts payable after more than one year | 17 | €3,847 | - | -€3,847 | |
| Financial debts | 170/4 | €3,847 | - | -€3,847 | |
| Amounts payable within one year | 42/48 | €190,736 | €107,889 | -€82,847 | -43.4% |
| Current portion of amounts payable after more than one year | 42 | €3,924 | €3,903 | -€20 | -0.5% |
| Financial debts | 43 | - | €843 | +€843 | |
| Credit institutions | 430/8 | - | €843 | +€843 | |
| Trade debts | 44 | €172,797 | €92,796 | -€80,001 | -46.3% |
| Suppliers | 440/4 | €172,797 | €92,796 | -€80,001 | -46.3% |
| Taxes, remuneration and social security | 45 | €14,015 | €10,347 | -€3,669 | -26.2% |
| Taxes | 450/3 | €14,015 | €9,841 | -€4,175 | -29.8% |
| Remuneration and social security | 454/9 | - | €506 | +€506 | |
| Remuneration, social security and pensions | 62 | €355 | €0 | -€355 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,858 | €2,830 | -€28 | -1.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€50,000 | - | +€50,000 | |
| Other operating charges | 640/8 | €15,821 | €1,333 | -€14,488 | -91.6% |
| Gross operating margin | 9900 | -€15,881 | €72,398 | +€88,279 | |
| Operating profit (loss) | 9901 | €15,086 | €68,235 | +€53,150 | +352% |
| Financial income | 75/76B | €5 | €9 | +€4 | +87.0% |
| Recurring financial income | 75 | €5 | €9 | +€4 | +87.0% |
| Financial charges | 65/66B | €1,063 | €5,006 | +€3,943 | +371% |
| Recurring financial charges | 65 | €1,063 | €5,006 | +€3,943 | +371% |
| Profit (loss) for the period before taxes | 9903 | €14,027 | €63,238 | +€49,211 | +351% |
| Income taxes | 67/77 | €10,000 | €16,474 | +€6,474 | +64.7% |
| Profit (loss) for the period | 9904 | €4,027 | €46,764 | +€42,737 | +1,061% |
| Profit (loss) for the period to be appropriated | 9905 | €4,027 | €46,764 | +€42,737 | +1,061% |
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 23 October 2026 via checked.be.