ZEBRATO: 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.
ZEBRATO
Largest movements
- Cash +€36,293
up €36,293 (+29.3%), from €123,769 to €160,062
mainly Depreciation (+€21,249) and Net result for the year (+€16,484)
- Tangible fixed assets -€18,193
down €18,193 (-41.8%), from €43,507 to €25,314
of which Furniture and vehicles: -€11,705
- Reserves +€16,484
up €16,484 (+12.9%), from €127,718 to €144,202
- Tax, wage and social debts +€7,260
up €7,260 (+68.6%), from €10,576 to €17,836
- Trade debts -€4,486
down €4,486 (-80.2%), from €5,591 to €1,105
- Gross operating margin -€13,235
down €13,235 (-21.9%), from €60,456 to €47,221
- Taxes -€1,716
down €1,716 (-19.1%), from €8,997 to €7,281
- Financial charges +€751
up €751 (+1,892%), from €40 to €791
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 | €211,134 | €230,062 | +€18,928 | +9.0% |
| Fixed assets | 21/28 | €43,507 | €25,314 | -€18,193 | -41.8% |
| Tangible fixed assets | 22/27 | €43,507 | €25,314 | -€18,193 | -41.8% |
| Land and buildings | 22 | €14,700 | €9,803 | -€4,897 | -33.3% |
| Plant, machinery and equipment | 23 | €4,290 | €2,699 | -€1,591 | -37.1% |
| Furniture and vehicles | 24 | €24,517 | €12,813 | -€11,705 | -47.7% |
| Current assets | 29/58 | €167,627 | €204,748 | +€37,121 | +22.1% |
| Stocks and contracts in progress | 3 | €1,117 | €1,117 | = | 0.0% |
| Stocks | 30/36 | €1,117 | €1,117 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €38,779 | €39,055 | +€275 | +0.7% |
| Trade receivables | 40 | €36,602 | €37,785 | +€1,183 | +3.2% |
| Other amounts receivable | 41 | €2,177 | €1,270 | -€907 | -41.7% |
| Cash at bank and in hand | 54/58 | €123,769 | €160,062 | +€36,293 | +29.3% |
| Deferred charges and accrued income | 490/1 | €3,962 | €4,514 | +€552 | +13.9% |
| Total equity and liabilities | 10/49 | €211,134 | €230,062 | +€18,928 | +9.0% |
| Equity | 10/15 | €133,918 | €150,402 | +€16,484 | +12.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €127,718 | €144,202 | +€16,484 | +12.9% |
| Distributable reserves | 133 | €127,718 | €144,202 | +€16,484 | +12.9% |
| Amounts payable | 17/49 | €77,216 | €79,660 | +€2,444 | +3.2% |
| Amounts payable within one year | 42/48 | €77,216 | €79,660 | +€2,444 | +3.2% |
| Trade debts | 44 | €5,591 | €1,105 | -€4,486 | -80.2% |
| Suppliers | 440/4 | €5,591 | €1,105 | -€4,486 | -80.2% |
| Taxes, remuneration and social security | 45 | €10,576 | €17,836 | +€7,260 | +68.6% |
| Taxes | 450/3 | €10,576 | €17,836 | +€7,260 | +68.6% |
| Other amounts payable | 47/48 | €61,049 | €60,719 | -€329 | -0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,298 | €21,249 | -€48 | -0.2% |
| Other operating charges | 640/8 | €1,210 | €1,418 | +€208 | +17.2% |
| Gross operating margin | 9900 | €60,456 | €47,221 | -€13,235 | -21.9% |
| Operating profit (loss) | 9901 | €37,949 | €24,554 | -€13,394 | -35.3% |
| Financial income | 75/76B | €0 | €1 | +€1 | +938% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +938% |
| Financial charges | 65/66B | €40 | €791 | +€751 | +1,892% |
| Recurring financial charges | 65 | €40 | €791 | +€751 | +1,892% |
| Profit (loss) for the period before taxes | 9903 | €37,909 | €23,765 | -€14,144 | -37.3% |
| Income taxes | 67/77 | €8,997 | €7,281 | -€1,716 | -19.1% |
| Profit (loss) for the period | 9904 | €28,912 | €16,484 | -€12,428 | -43.0% |
| Profit (loss) for the period to be appropriated | 9905 | €28,912 | €16,484 | -€12,428 | -43.0% |
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 25 October 2026 via checked.be.