ZEREY: 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.
ZEREY
Largest movements
- Receivables within one year +€9,601
new in 2025: €9,601
- Cash -€3,837
down €3,837 (-94.4%), from €4,067 to €229
mainly Receivables within one year (-€9,601) and Other debts (-€8,388)
- Tangible fixed assets -€1,800
down €1,800 (-10.8%), from €16,732 to €14,932
- Deferred charges and accrued income -€513
down €513 (-87.8%), from €584 to €71
- Other debts -€8,388
no longer reported in 2025 (was €8,388)
- Reserves +€6,691
up €6,691 (+213.8%), from €3,129 to €9,820
- Profit (loss) carried forward +€2,876
no longer reported in 2025 (was -€2,876)
- Tax, wage and social debts +€1,743
up €1,743 (+24.6%), from €7,070 to €8,812
- Trade debts +€530
up €530 (+79.0%), from €671 to €1,201
- Gross operating margin +€14,940
up €14,940 (+24544.0%), from €61 to €15,001
- Taxes +€2,710
new in 2025: €2,710
- Financial income +€930
up €930 (+489552.6%), from €0 to €930
- Depreciation +€532
up €532 (+42.0%), from €1,268 to €1,800
- Financial charges +€238
up €238 (+321.2%), from €74 to €313
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 | €21,382 | €24,833 | +€3,451 | +16.1% |
| Fixed assets | 21/28 | €16,732 | €14,932 | -€1,800 | -10.8% |
| Tangible fixed assets | 22/27 | €16,732 | €14,932 | -€1,800 | -10.8% |
| Land and buildings | 22 | €16,732 | €14,932 | -€1,800 | -10.8% |
| Current assets | 29/58 | €4,650 | €9,901 | +€5,251 | +112.9% |
| Amounts receivable within one year | 40/41 | - | €9,601 | +€9,601 | |
| Other amounts receivable | 41 | - | €9,601 | +€9,601 | |
| Cash at bank and in hand | 54/58 | €4,067 | €229 | -€3,837 | -94.4% |
| Deferred charges and accrued income | 490/1 | €584 | €71 | -€513 | -87.8% |
| Total equity and liabilities | 10/49 | €21,382 | €24,833 | +€3,451 | +16.1% |
| Equity | 10/15 | €5,253 | €14,820 | +€9,566 | +182.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €3,129 | €9,820 | +€6,691 | +213.8% |
| Distributable reserves | 133 | €3,129 | €9,820 | +€6,691 | +213.8% |
| Profit (loss) carried forward | 14 | -€2,876 | - | +€2,876 | |
| Amounts payable | 17/49 | €16,129 | €10,014 | -€6,116 | -37.9% |
| Amounts payable within one year | 42/48 | €16,129 | €10,014 | -€6,116 | -37.9% |
| Trade debts | 44 | €671 | €1,201 | +€530 | +79.0% |
| Suppliers | 440/4 | €671 | €1,201 | +€530 | +79.0% |
| Taxes, remuneration and social security | 45 | €7,070 | €8,812 | +€1,743 | +24.6% |
| Taxes | 450/3 | €7,070 | €8,812 | +€1,743 | +24.6% |
| Other amounts payable | 47/48 | €8,388 | - | -€8,388 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,268 | €1,800 | +€532 | +42.0% |
| Other operating charges | 640/8 | €1,595 | €1,543 | -€52 | -3.3% |
| Gross operating margin | 9900 | €61 | €15,001 | +€14,940 | +24544.0% |
| Operating profit (loss) | 9901 | -€2,802 | €11,658 | +€14,460 | |
| Financial income | 75/76B | €0 | €930 | +€930 | +489552.6% |
| Recurring financial income | 75 | €0 | €930 | +€930 | +489552.6% |
| Financial charges | 65/66B | €74 | €313 | +€238 | +321.2% |
| Recurring financial charges | 65 | €74 | €313 | +€238 | +321.2% |
| Profit (loss) for the period before taxes | 9903 | -€2,876 | €12,276 | +€15,152 | |
| Income taxes | 67/77 | - | €2,710 | +€2,710 | |
| Profit (loss) for the period | 9904 | -€2,876 | €9,566 | +€12,442 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,876 | €9,566 | +€12,442 |
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 11 October 2026 via checked.be.