ZEGMAAR: 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.
ZEGMAAR
Largest movements
- Tangible fixed assets -€29,195
down €29,195 (-4.4%), from €658,474 to €629,279
of which Leasing and similar rights: -€20,558
- Debts after one year -€129,648
down €129,648 (-23.2%), from €558,837 to €429,189
- Reserves +€54,897
up €54,897 (+11.5%), from €479,187 to €534,084
- Other debts +€42,329
up €42,329 (+16.1%), from €262,195 to €304,524
- Gross operating margin -€9,437
down €9,437 (-9.2%), from €102,245 to €92,809
- Depreciation +€1,942
up €1,942 (+4.2%), from €46,729 to €48,671
- Taxes -€1,782
down €1,782 (-10.0%), from €17,843 to €16,060
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 | €1,553,099 | €1,516,095 | -€37,004 | -2.4% |
| Fixed assets | 21/28 | €1,407,474 | €1,378,279 | -€29,195 | -2.1% |
| Tangible fixed assets | 22/27 | €658,474 | €629,279 | -€29,195 | -4.4% |
| Land and buildings | 22 | €574,390 | €565,752 | -€8,638 | -1.5% |
| Leasing and similar rights | 25 | €84,084 | €63,526 | -€20,558 | -24.4% |
| Financial fixed assets | 28 | €749,000 | €749,000 | = | 0.0% |
| Current assets | 29/58 | €145,625 | €137,817 | -€7,809 | -5.4% |
| Amounts receivable after more than one year | 29 | €59,630 | €49,595 | -€10,035 | -16.8% |
| Other amounts receivable | 291 | €59,630 | €49,595 | -€10,035 | -16.8% |
| Amounts receivable within one year | 40/41 | €12,500 | - | -€12,500 | |
| Trade receivables | 40 | €12,500 | - | -€12,500 | |
| Cash at bank and in hand | 54/58 | €73,495 | €88,221 | +€14,726 | +20.0% |
| Total equity and liabilities | 10/49 | €1,553,099 | €1,516,095 | -€37,004 | -2.4% |
| Equity | 10/15 | €580,187 | €635,084 | +€54,897 | +9.5% |
| Contributions | 10/11 | €101,000 | €101,000 | = | 0.0% |
| Reserves | 13 | €479,187 | €534,084 | +€54,897 | +11.5% |
| Distributable reserves | 133 | €479,187 | €534,084 | +€54,897 | +11.5% |
| Amounts payable | 17/49 | €972,912 | €881,011 | -€91,901 | -9.4% |
| Amounts payable after more than one year | 17 | €558,837 | €429,189 | -€129,648 | -23.2% |
| Financial debts | 170/4 | €558,837 | €429,189 | -€129,648 | -23.2% |
| Amounts payable within one year | 42/48 | €414,076 | €451,822 | +€37,746 | +9.1% |
| Current portion of amounts payable after more than one year | 42 | €135,313 | €130,950 | -€4,363 | -3.2% |
| Trade debts | 44 | €3,475 | €288 | -€3,187 | -91.7% |
| Suppliers | 440/4 | €3,475 | €288 | -€3,187 | -91.7% |
| Taxes, remuneration and social security | 45 | €13,093 | €16,060 | +€2,968 | +22.7% |
| Taxes | 450/3 | €13,093 | €16,060 | +€2,968 | +22.7% |
| Other amounts payable | 47/48 | €262,195 | €304,524 | +€42,329 | +16.1% |
| Non-recurring operating income | 76A | €12,669 | - | -€12,669 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,729 | €48,671 | +€1,942 | +4.2% |
| Other operating charges | 640/8 | €2,206 | €2,559 | +€353 | +16.0% |
| Gross operating margin | 9900 | €102,245 | €92,809 | -€9,437 | -9.2% |
| Operating profit (loss) | 9901 | €53,311 | €41,580 | -€11,731 | -22.0% |
| Financial income | 75/76B | €101,322 | €101,196 | -€126 | -0.1% |
| Recurring financial income | 75 | €101,322 | €101,196 | -€126 | -0.1% |
| Financial charges | 65/66B | €22,831 | €22,272 | -€559 | -2.4% |
| Recurring financial charges | 65 | €22,831 | €22,272 | -€559 | -2.4% |
| Profit (loss) for the period before taxes | 9903 | €131,801 | €120,504 | -€11,298 | -8.6% |
| Income taxes | 67/77 | €17,843 | €16,060 | -€1,782 | -10.0% |
| Profit (loss) for the period | 9904 | €113,959 | €104,443 | -€9,516 | -8.3% |
| Profit (loss) for the period to be appropriated | 9905 | €113,959 | €104,443 | -€9,516 | -8.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.