ZHAO HAMBURGER: what changed
ZHAO HAMBURGER
Largest movements
- Cash +€39,569
up €39,569 (+115%), from €34,452 to €74,021
mainly Depreciation (+€31,141) and Net result for the year (+€15,882)
- Tangible fixed assets -€23,331
down €23,331 (-33.8%), from €68,933 to €45,603
of which Furniture and vehicles: -€18,167
- Trade debts -€13,470
down €13,470 (-98.1%), from €13,735 to €264
- Reserves +€12,500
new in 2025: €12,500
- Debts after one year +€3,904
up €3,904 (+52.9%), from €7,386 to €11,290
- Tax, wage and social debts +€3,803
new in 2025: €3,803
- Profit (loss) carried forward +€3,382
up €3,382 (+6.7%), from €50,430 to €53,812
- Gross operating margin +€22,064
up €22,064 (+53.6%), from €41,131 to €63,195
- Taxes +€6,437
up €6,437 (+751%), from €857 to €7,294
- Depreciation +€3,789
up €3,789 (+13.9%), from €27,352 to €31,141
- Staff costs -€1,225
down €1,225 (-25.7%), from €4,760 to €3,536
- Financial charges -€997
down €997 (-27.7%), from €3,596 to €2,599
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €161,799 | €176,824 | +€15,024 | +9.3% |
| Fixed assets | 21/28 | €68,933 | €45,603 | -€23,331 | -33.8% |
| Tangible fixed assets | 22/27 | €68,933 | €45,603 | -€23,331 | -33.8% |
| Land and buildings | 22 | - | €5,007 | +€5,007 | |
| Plant, machinery and equipment | 23 | €26,130 | €15,960 | -€10,170 | -38.9% |
| Furniture and vehicles | 24 | €42,803 | €24,637 | -€18,167 | -42.4% |
| Current assets | 29/58 | €92,866 | €131,221 | +€38,355 | +41.3% |
| Stocks and contracts in progress | 3 | €4,000 | €4,000 | = | 0.0% |
| Stocks | 30/36 | €4,000 | €4,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €54,414 | €53,200 | -€1,214 | -2.2% |
| Other amounts receivable | 41 | €54,414 | €53,200 | -€1,214 | -2.2% |
| Cash at bank and in hand | 54/58 | €34,452 | €74,021 | +€39,569 | +115% |
| Total equity and liabilities | 10/49 | €161,799 | €176,824 | +€15,024 | +9.3% |
| Equity | 10/15 | €120,430 | €136,312 | +€15,882 | +13.2% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | - | €12,500 | +€12,500 | |
| Distributable reserves | 133 | - | €12,500 | +€12,500 | |
| Profit (loss) carried forward | 14 | €50,430 | €53,812 | +€3,382 | +6.7% |
| Amounts payable | 17/49 | €41,369 | €40,512 | -€857 | -2.1% |
| Amounts payable after more than one year | 17 | €7,386 | €11,290 | +€3,904 | +52.9% |
| Financial debts | 170/4 | €7,386 | €11,290 | +€3,904 | +52.9% |
| Amounts payable within one year | 42/48 | €33,983 | €29,222 | -€4,761 | -14.0% |
| Current portion of amounts payable after more than one year | 42 | €8,416 | €11,370 | +€2,954 | +35.1% |
| Trade debts | 44 | €13,735 | €264 | -€13,470 | -98.1% |
| Suppliers | 440/4 | €13,735 | €264 | -€13,470 | -98.1% |
| Taxes, remuneration and social security | 45 | - | €3,803 | +€3,803 | |
| Taxes | 450/3 | - | €3,803 | +€3,803 | |
| Other amounts payable | 47/48 | €11,832 | €13,784 | +€1,952 | +16.5% |
| Remuneration, social security and pensions | 62 | €4,760 | €3,536 | -€1,225 | -25.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,352 | €31,141 | +€3,789 | +13.9% |
| Other operating charges | 640/8 | €1,834 | €2,753 | +€918 | +50.1% |
| Gross operating margin | 9900 | €41,131 | €63,195 | +€22,064 | +53.6% |
| Operating profit (loss) | 9901 | €7,185 | €25,766 | +€18,581 | +259% |
| Financial income | 75/76B | €0 | €8 | +€8 | +1,921% |
| Recurring financial income | 75 | €0 | €8 | +€8 | +1,921% |
| Financial charges | 65/66B | €3,596 | €2,599 | -€997 | -27.7% |
| Recurring financial charges | 65 | €3,596 | €2,599 | -€997 | -27.7% |
| Profit (loss) for the period before taxes | 9903 | €3,589 | €23,176 | +€19,587 | +546% |
| Income taxes | 67/77 | €857 | €7,294 | +€6,437 | +751% |
| Profit (loss) for the period | 9904 | €2,732 | €15,882 | +€13,149 | +481% |
| Profit (loss) for the period to be appropriated | 9905 | €2,732 | €15,882 | +€13,149 | +481% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.