ZEST: 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.
What changed
ZEST
NACE 56.111, Full-service restaurants
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€34,803
2024 · €3,802+€31,002
Equity
€42,922
2024 · €8,119+€34,803
Cash
€32,593
2024 · €37,212-€4,619
Balance sheet total
€483,844
2024 · €440,356+€43,488
Largest movements
Assets
- Receivables within one year +€54,596
up €54,596 (+669.5%), from €8,155 to €62,751
of which Trade receivables: +€54,638
- Tangible fixed assets -€9,488
down €9,488 (-2.5%), from €375,171 to €365,683
of which Land and buildings: -€10,780
Equity and liabilities
- Advances received +€62,591
new in 2025: €62,591
- Profit (loss) carried forward +€30,475
up €30,475, from -€30,475 to €0
- Trade debts -€28,085
down €28,085 (-58.0%), from €48,404 to €20,319
- Debts after one year -€18,570
down €18,570 (-6.0%), from €308,584 to €290,014
- Tax, wage and social debts -€9,314
down €9,314 (-19.0%), from €48,973 to €39,659
of which Taxes: -€8,539
Income statement
- Gross operating margin +€47,367
up €47,367 (+24.6%), from €192,345 to €239,712
- Staff costs +€14,314
up €14,314 (+9.2%), from €155,920 to €170,233
- Other operating charges +€2,767
up €2,767 (+84.5%), from €3,275 to €6,042
- Financial income -€2,553
down €2,553 (-38.1%), from €6,699 to €4,146
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.
Result 2024
€3,802
Gross operating margin
+€47,367
Staff costs
-€14,314
Depreciation
+€937
Other operating charges
-€2,767
Other operating items
+€1,495
Financial income
-€2,553
Financial charges
+€921
Taxes
-€84
Result 2025
€34,803
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.
From operations
+€22,524
Investment
-€11,371
Financing
-€15,772
Cash 2024
€37,212
From operations (derived)
+€22,524
Net result for the year
+€34,803
Depreciation
+€16,578
Stocks and contracts
-€744
Receivables within one year
-€54,596
Deferred charges and accrued income
+€2,027
Trade debts
-€28,085
Tax, wage and social debts
-€9,314
Advances received
+€62,591
Other debts
-€873
Accrued charges and deferred income
+€138
Investment (derived)
-€11,371
Investment in fixed assets (net)
-€11,371
Financing
-€15,772
Debts after one year
-€18,570
Current portion of long-term debt
+€396
Short-term financial debts
+€2,402
Cash 2025
€32,593
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €440,356 | €483,844 | +€43,488 | +9.9% |
| Fixed assets | 21/28 | €375,586 | €370,379 | -€5,206 | -1.4% |
| Intangible fixed assets | 21 | €48 | €0 | -€48 | -100.0% |
| Tangible fixed assets | 22/27 | €375,171 | €365,683 | -€9,488 | -2.5% |
| Land and buildings | 22 | €364,210 | €353,430 | -€10,780 | -3.0% |
| Plant, machinery and equipment | 23 | €2,053 | €1,116 | -€937 | -45.6% |
| Furniture and vehicles | 24 | €4,470 | €7,389 | +€2,919 | +65.3% |
| Other tangible fixed assets | 26 | €4,438 | €3,748 | -€690 | -15.5% |
| Financial fixed assets | 28 | €366 | €4,696 | +€4,330 | +1183.1% |
| Current assets | 29/58 | €64,770 | €113,464 | +€48,694 | +75.2% |
| Stocks and contracts in progress | 3 | €10,973 | €11,717 | +€744 | +6.8% |
| Stocks | 30/36 | €10,973 | €11,717 | +€744 | +6.8% |
| Amounts receivable within one year | 40/41 | €8,155 | €62,751 | +€54,596 | +669.5% |
| Trade receivables | 40 | €8,113 | €62,751 | +€54,638 | +673.5% |
| Other amounts receivable | 41 | €42 | €0 | -€42 | -100.0% |
| Cash at bank and in hand | 54/58 | €37,212 | €32,593 | -€4,619 | -12.4% |
| Deferred charges and accrued income | 490/1 | €8,430 | €6,403 | -€2,027 | -24.0% |
| Total equity and liabilities | 10/49 | €440,356 | €483,844 | +€43,488 | +9.9% |
| Equity | 10/15 | €8,119 | €42,922 | +€34,803 | +428.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €19,994 | €24,322 | +€4,328 | +21.6% |
| Distributable reserves | 133 | €19,994 | €24,322 | +€4,328 | +21.6% |
| Profit (loss) carried forward | 14 | -€30,475 | €0 | +€30,475 | |
| Amounts payable | 17/49 | €432,237 | €440,921 | +€8,684 | +2.0% |
| Amounts payable after more than one year | 17 | €308,584 | €290,014 | -€18,570 | -6.0% |
| Financial debts | 170/4 | €308,584 | €290,014 | -€18,570 | -6.0% |
| Amounts payable within one year | 42/48 | €122,775 | €149,892 | +€27,117 | +22.1% |
| Current portion of amounts payable after more than one year | 42 | €18,174 | €18,570 | +€396 | +2.2% |
| Financial debts | 43 | €5,000 | €7,402 | +€2,402 | +48.0% |
| Credit institutions | 430/8 | €5,000 | €7,402 | +€2,402 | +48.0% |
| Trade debts | 44 | €48,404 | €20,319 | -€28,085 | -58.0% |
| Suppliers | 440/4 | €48,404 | €20,319 | -€28,085 | -58.0% |
| Advances received on contracts in progress | 46 | - | €62,591 | +€62,591 | |
| Taxes, remuneration and social security | 45 | €48,973 | €39,659 | -€9,314 | -19.0% |
| Taxes | 450/3 | €22,387 | €13,848 | -€8,539 | -38.1% |
| Remuneration and social security | 454/9 | €26,586 | €25,811 | -€775 | -2.9% |
| Other amounts payable | 47/48 | €2,224 | €1,351 | -€873 | -39.3% |
| Accrued charges and deferred income | 492/3 | €877 | €1,015 | +€138 | +15.7% |
| Non-recurring operating income | 76A | - | €1,968 | +€1,968 | |
| Remuneration, social security and pensions | 62 | €155,920 | €170,233 | +€14,314 | +9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,514 | €16,578 | -€937 | -5.3% |
| Other operating charges | 640/8 | €3,275 | €6,042 | +€2,767 | +84.5% |
| Non-recurring operating charges | 66A | €1,495 | €0 | -€1,495 | -100.0% |
| Gross operating margin | 9900 | €192,345 | €239,712 | +€47,367 | +24.6% |
| Operating profit (loss) | 9901 | €14,142 | €46,859 | +€32,717 | +231.4% |
| Financial income | 75/76B | €6,699 | €4,146 | -€2,553 | -38.1% |
| Recurring financial income | 75 | €6,699 | €4,146 | -€2,553 | -38.1% |
| Financial charges | 65/66B | €16,545 | €15,624 | -€921 | -5.6% |
| Recurring financial charges | 65 | €16,545 | €15,624 | -€921 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €4,295 | €35,380 | +€31,086 | +723.8% |
| Income taxes | 67/77 | €493 | €577 | +€84 | +17.0% |
| Profit (loss) for the period | 9904 | €3,802 | €34,803 | +€31,002 | +815.4% |
| Profit (loss) for the period to be appropriated | 9905 | €3,802 | €34,803 | +€31,002 | +815.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.