ZEKAJ CONSTRUCT: 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.
ZEKAJ CONSTRUCT
Largest movements
- Tangible fixed assets -€44,552
down €44,552 (-6.9%), from €642,864 to €598,311
of which Land and buildings: -€22,390
- Cash -€34,395
down €34,395 (-84.4%), from €40,762 to €6,366
mainly Trade debts (-€60,809) and Net result for the year (-€38,441)
- Receivables within one year -€27,011
down €27,011 (-21.7%), from €124,509 to €97,498
of which Trade receivables: -€37,126
- Trade debts -€60,809
down €60,809 (-68.7%), from €88,478 to €27,669
- Profit (loss) carried forward -€38,441
down €38,441 (-18.8%), from €204,198 to €165,757
- Debts after one year -€36,961
down €36,961 (-8.6%), from €429,208 to €392,246
- Other debts +€27,588
up €27,588 (+314%), from €8,786 to €36,374
- Gross operating margin -€60,898
down €60,898 (-19.4%), from €314,115 to €253,217
- Staff costs +€38,414
up €38,414 (+19.4%), from €197,753 to €236,166
- Taxes -€18,772
no longer reported in 2025 (was €18,772)
- Depreciation +€4,224
up €4,224 (+10.5%), from €40,328 to €44,552
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 | €815,427 | €704,978 | -€110,449 | -13.5% |
| Fixed assets | 21/28 | €642,954 | €598,401 | -€44,552 | -6.9% |
| Tangible fixed assets | 22/27 | €642,864 | €598,311 | -€44,552 | -6.9% |
| Land and buildings | 22 | €597,070 | €574,680 | -€22,390 | -3.8% |
| Plant, machinery and equipment | 23 | €1,761 | €96 | -€1,665 | -94.5% |
| Furniture and vehicles | 24 | €44,032 | €23,535 | -€20,497 | -46.6% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €172,473 | €106,577 | -€65,896 | -38.2% |
| Amounts receivable within one year | 40/41 | €124,509 | €97,498 | -€27,011 | -21.7% |
| Trade receivables | 40 | €124,509 | €87,383 | -€37,126 | -29.8% |
| Other amounts receivable | 41 | - | €10,115 | +€10,115 | |
| Cash at bank and in hand | 54/58 | €40,762 | €6,366 | -€34,395 | -84.4% |
| Deferred charges and accrued income | 490/1 | €7,202 | €2,712 | -€4,490 | -62.3% |
| Total equity and liabilities | 10/49 | €815,427 | €704,978 | -€110,449 | -13.5% |
| Equity | 10/15 | €229,258 | €190,817 | -€38,441 | -16.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €18,860 | €18,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €17,000 | €17,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €204,198 | €165,757 | -€38,441 | -18.8% |
| Amounts payable | 17/49 | €586,169 | €514,162 | -€72,007 | -12.3% |
| Amounts payable after more than one year | 17 | €429,208 | €392,246 | -€36,961 | -8.6% |
| Financial debts | 170/4 | €429,208 | €392,246 | -€36,961 | -8.6% |
| Amounts payable within one year | 42/48 | €156,962 | €117,552 | -€39,409 | -25.1% |
| Current portion of amounts payable after more than one year | 42 | €42,285 | €36,961 | -€5,323 | -12.6% |
| Trade debts | 44 | €88,478 | €27,669 | -€60,809 | -68.7% |
| Suppliers | 440/4 | €88,478 | €27,669 | -€60,809 | -68.7% |
| Advances received on contracts in progress | 46 | - | €598 | +€598 | |
| Taxes, remuneration and social security | 45 | €17,413 | €15,949 | -€1,464 | -8.4% |
| Taxes | 450/3 | €17,413 | €13,772 | -€3,641 | -20.9% |
| Remuneration and social security | 454/9 | - | €2,177 | +€2,177 | |
| Other amounts payable | 47/48 | €8,786 | €36,374 | +€27,588 | +314% |
| Accrued charges and deferred income | 492/3 | - | €4,363 | +€4,363 | |
| Non-recurring operating income | 76A | €169 | - | -€169 | |
| Remuneration, social security and pensions | 62 | €197,753 | €236,166 | +€38,414 | +19.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,328 | €44,552 | +€4,224 | +10.5% |
| Other operating charges | 640/8 | €3,623 | €3,679 | +€56 | +1.5% |
| Gross operating margin | 9900 | €314,115 | €253,217 | -€60,898 | -19.4% |
| Operating profit (loss) | 9901 | €72,411 | -€31,180 | -€103,592 | |
| Financial income | 75/76B | €324 | €435 | +€111 | +34.4% |
| Recurring financial income | 75 | €324 | €435 | +€111 | +34.4% |
| Financial charges | 65/66B | €8,532 | €7,696 | -€836 | -9.8% |
| Recurring financial charges | 65 | €8,532 | €7,696 | -€836 | -9.8% |
| Profit (loss) for the period before taxes | 9903 | €64,203 | -€38,441 | -€102,644 | |
| Income taxes | 67/77 | €18,772 | - | -€18,772 | |
| Profit (loss) for the period | 9904 | €45,431 | -€38,441 | -€83,872 | |
| Profit (loss) for the period to be appropriated | 9905 | €45,431 | -€38,441 | -€83,872 |
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 24 October 2026 via checked.be.