ZEHRA: 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.
ZEHRA
Largest movements
- Receivables within one year +€29,243
up €29,243 (+29.5%), from €98,977 to €128,220
of which Other amounts receivable: +€27,325
- Intangible fixed assets +€24,054
new in 2024: €24,054
- Tangible fixed assets +€22,287
up €22,287 (+53.7%), from €41,472 to €63,759
of which Plant, machinery and equipment: +€21,833
- Financial fixed assets +€17,400
new in 2024: €17,400
- Cash +€12,097
up €12,097 (+20.2%), from €59,983 to €72,080
mainly Tax, wage and social debts (+€125,560) and Net result for the year (+€56,118)
- Tax, wage and social debts +€125,560
up €125,560 (+307.1%), from €40,882 to €166,442
of which Remuneration and social security: +€92,913
- Trade debts -€63,028
down €63,028 (-95.2%), from €66,175 to €3,147
- Reserves +€56,118
up €56,118 (+131.6%), from €42,631 to €98,748
- Other debts -€30,074
down €30,074 (-70.9%), from €42,393 to €12,319
- Current portion of long-term debt +€14,749
new in 2024: €14,749
- Gross operating margin +€70,290
up €70,290 (+29.9%), from €234,753 to €305,043
- Staff costs +€45,279
up €45,279 (+27.9%), from €162,026 to €207,306
- Taxes +€6,527
up €6,527 (+39.9%), from €16,378 to €22,904
- Depreciation +€5,144
up €5,144 (+46.3%), from €11,110 to €16,254
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €203,544 | €308,125 | +€104,580 | +51.4% |
| Fixed assets | 21/28 | €41,472 | €105,213 | +€63,741 | +153.7% |
| Intangible fixed assets | 21 | - | €24,054 | +€24,054 | |
| Tangible fixed assets | 22/27 | €41,472 | €63,759 | +€22,287 | +53.7% |
| Plant, machinery and equipment | 23 | €35,908 | €57,740 | +€21,833 | +60.8% |
| Furniture and vehicles | 24 | €2,008 | €1,182 | -€826 | -41.2% |
| Other tangible fixed assets | 26 | €3,556 | €4,837 | +€1,281 | +36.0% |
| Financial fixed assets | 28 | - | €17,400 | +€17,400 | |
| Current assets | 29/58 | €162,072 | €202,911 | +€40,839 | +25.2% |
| Stocks and contracts in progress | 3 | €3,112 | €2,611 | -€501 | -16.1% |
| Stocks | 30/36 | €3,112 | €2,611 | -€501 | -16.1% |
| Amounts receivable within one year | 40/41 | €98,977 | €128,220 | +€29,243 | +29.5% |
| Trade receivables | 40 | €1,010 | €2,928 | +€1,918 | +190.0% |
| Other amounts receivable | 41 | €97,967 | €125,292 | +€27,325 | +27.9% |
| Cash at bank and in hand | 54/58 | €59,983 | €72,080 | +€12,097 | +20.2% |
| Total equity and liabilities | 10/49 | €203,544 | €308,125 | +€104,580 | +51.4% |
| Equity | 10/15 | €54,094 | €110,212 | +€56,118 | +103.7% |
| Reserves | 13 | €42,631 | €98,748 | +€56,118 | +131.6% |
| Distributable reserves | 133 | €42,631 | €98,748 | +€56,118 | +131.6% |
| Profit (loss) carried forward | 14 | €11,463 | €11,463 | = | 0.0% |
| Amounts payable | 17/49 | €149,451 | €197,913 | +€48,462 | +32.4% |
| Amounts payable after more than one year | 17 | - | €1,257 | +€1,257 | |
| Financial debts | 170/4 | - | €1,257 | +€1,257 | |
| Amounts payable within one year | 42/48 | €149,451 | €196,656 | +€47,206 | +31.6% |
| Current portion of amounts payable after more than one year | 42 | - | €14,749 | +€14,749 | |
| Trade debts | 44 | €66,175 | €3,147 | -€63,028 | -95.2% |
| Suppliers | 440/4 | €66,175 | €3,147 | -€63,028 | -95.2% |
| Taxes, remuneration and social security | 45 | €40,882 | €166,442 | +€125,560 | +307.1% |
| Taxes | 450/3 | €29,020 | €61,667 | +€32,647 | +112.5% |
| Remuneration and social security | 454/9 | €11,862 | €104,775 | +€92,913 | +783.3% |
| Other amounts payable | 47/48 | €42,393 | €12,319 | -€30,074 | -70.9% |
| Remuneration, social security and pensions | 62 | €162,026 | €207,306 | +€45,279 | +27.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,110 | €16,254 | +€5,144 | +46.3% |
| Other operating charges | 640/8 | €2,159 | €432 | -€1,727 | -80.0% |
| Gross operating margin | 9900 | €234,753 | €305,043 | +€70,290 | +29.9% |
| Operating profit (loss) | 9901 | €59,458 | €81,051 | +€21,593 | +36.3% |
| Financial income | 75/76B | €1 | €20 | +€19 | +1306.3% |
| Recurring financial income | 75 | €1 | €20 | +€19 | +1306.3% |
| Financial charges | 65/66B | €451 | €2,049 | +€1,598 | +354.2% |
| Recurring financial charges | 65 | €451 | €2,049 | +€1,598 | +354.2% |
| Profit (loss) for the period before taxes | 9903 | €59,008 | €79,022 | +€20,014 | +33.9% |
| Income taxes | 67/77 | €16,378 | €22,904 | +€6,527 | +39.9% |
| Profit (loss) for the period | 9904 | €42,631 | €56,118 | +€13,487 | +31.6% |
| Profit (loss) for the period to be appropriated | 9905 | €42,631 | €56,118 | +€13,487 | +31.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.