Zelar: what changed
Two fiscal 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.
Zelar
Largest movements
- Receivables within one year -€19,636
down €19,636 (-45.5%), from €43,111 to €23,475
of which Other amounts receivable: -€20,831
- Cash +€15,438
up €15,438 (+95.1%), from €16,235 to €31,673
mainly Net result for the year (+€22,925) and Receivables within one year (+€19,636)
- Deferred charges and accrued income +€3,945
new in 2025: €3,945
- Tangible fixed assets +€1,487
new in 2025: €1,487
- Contributions -€18,600
no longer reported in 2025 (was €18,600)
- Reserves +€13,000
up €13,000 (+43.0%), from €30,260 to €43,260
- Other debts +€6,888
up €6,888 (+322.2%), from €2,138 to €9,025
- Trade debts -€2,652
down €2,652 (-65.2%), from €4,068 to €1,416
- Current portion of long-term debt +€1,728
up €1,728 (+61.7%), from €2,801 to €4,529
- Gross operating margin +€7,018
up €7,018 (+26.3%), from €26,636 to €33,654
- Depreciation -€4,804
down €4,804 (-96.1%), from €5,000 to €196
- Taxes +€2,078
up €2,078 (+29.7%), from €7,004 to €9,083
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.
Cash bridge derived
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 | €59,346 | €60,579 | +€1,233 | +2.1% |
| Fixed assets | 21/28 | - | €1,487 | +€1,487 | |
| Tangible fixed assets | 22/27 | - | €1,487 | +€1,487 | |
| Furniture and vehicles | 24 | - | €1,487 | +€1,487 | |
| Current assets | 29/58 | €59,346 | €59,093 | -€253 | -0.4% |
| Amounts receivable within one year | 40/41 | €43,111 | €23,475 | -€19,636 | -45.5% |
| Trade receivables | 40 | €20,660 | €21,856 | +€1,195 | +5.8% |
| Other amounts receivable | 41 | €22,451 | €1,620 | -€20,831 | -92.8% |
| Cash at bank and in hand | 54/58 | €16,235 | €31,673 | +€15,438 | +95.1% |
| Deferred charges and accrued income | 490/1 | - | €3,945 | +€3,945 | |
| Total equity and liabilities | 10/49 | €59,346 | €60,579 | +€1,233 | +2.1% |
| Equity | 10/15 | €49,223 | €44,048 | -€5,175 | -10.5% |
| Contributions | 10/11 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €30,260 | €43,260 | +€13,000 | +43.0% |
| Distributable reserves | 133 | €30,260 | €43,260 | +€13,000 | +43.0% |
| Profit (loss) carried forward | 14 | €363 | €788 | +€425 | +117.2% |
| Amounts payable | 17/49 | €10,123 | €16,532 | +€6,409 | +63.3% |
| Amounts payable within one year | 42/48 | €10,123 | €16,532 | +€6,409 | +63.3% |
| Current portion of amounts payable after more than one year | 42 | €2,801 | €4,529 | +€1,728 | +61.7% |
| Trade debts | 44 | €4,068 | €1,416 | -€2,652 | -65.2% |
| Suppliers | 440/4 | €4,068 | €1,416 | -€2,652 | -65.2% |
| Taxes, remuneration and social security | 45 | €1,117 | €1,562 | +€445 | +39.9% |
| Taxes | 450/3 | €1,117 | €1,562 | +€445 | +39.9% |
| Other amounts payable | 47/48 | €2,138 | €9,025 | +€6,888 | +322.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,000 | €196 | -€4,804 | -96.1% |
| Other operating charges | 640/8 | €852 | €838 | -€14 | -1.6% |
| Gross operating margin | 9900 | €26,636 | €33,654 | +€7,018 | +26.3% |
| Operating profit (loss) | 9901 | €20,784 | €32,619 | +€11,835 | +56.9% |
| Financial charges | 65/66B | €417 | €612 | +€195 | +46.6% |
| Recurring financial charges | 65 | €417 | €612 | +€195 | +46.6% |
| Profit (loss) for the period before taxes | 9903 | €20,367 | €32,008 | +€11,641 | +57.2% |
| Income taxes | 67/77 | €7,004 | €9,083 | +€2,078 | +29.7% |
| Profit (loss) for the period | 9904 | €13,363 | €22,925 | +€9,562 | +71.6% |
| Profit (loss) for the period to be appropriated | 9905 | €13,363 | €22,925 | +€9,562 | +71.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.