ZONING MOTORS: 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.
What changed
ZONING MOTORS
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€768,399
2024 · €510,913+€257,486
Equity
€13.0m
2024 · €12.7m+€318,399
Cash
€964,556
2024 · €351,667+€612,889
Balance sheet total
€31.1m
2024 · €29.6m+€1.4m
Largest movements
Assets
- Tangible fixed assets +€2.1m
up €2.1m (+10.4%), from €20.2m to €22.3m
of which Land and buildings: +€2.1m
- Cash +€612,889
up €612,889 (+174%), from €351,667 to €964,556
mainly Other debts (+€2.1m) and Depreciation (+€1.5m)
- Receivables within one year -€401,049
down €401,049 (-36.4%), from €1.1m to €701,513
of which Other amounts receivable: -€286,439
- Financial fixed assets -€366,000
down €366,000 (-11.0%), from €3.3m to €3.0m
Equity and liabilities
- Other debts +€2.1m
up €2.1m (+65.9%), from €3.3m to €5.4m
- Debts after one year -€1.3m
down €1.3m (-12.9%), from €10.4m to €9.1m
- Profit (loss) carried forward +€357,929
up €357,929 (+353%), from €101,328 to €459,257
Income statement
- Turnover +€4.1m
new in 2025: €4.1m
- Gross operating margin -€2.8m
no longer reported in 2025 (was €2.8m)
- Goods and materials +€470,690
new in 2025: €470,690
- Services and other goods +€460,675
new in 2025: €460,675
- Depreciation +€120,290
up €120,290 (+8.8%), from €1.4m to €1.5m
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
€510,913
Turnover
+€4.1m
Other operating income
+€3,078
Goods and materials
-€470,690
Services and other goods
-€460,675
Depreciation
-€120,290
Other operating charges
-€38,101
Other operating items
-€2.8m
Financial income
-€10,305
Financial charges
-€13,591
Taxes
+€94,841
Result 2025
€768,399
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€5.5m
Investment
-€3.1m
Financing
-€1.8m
Cash 2024
€351,667
From operations (derived)
+€5.5m
Net result for the year
+€768,399
Depreciation
+€1.5m
Receivables after one year
+€282,030
Receivables within one year
+€401,049
Deferred charges and accrued income
+€49,649
Provisions
-€13,177
Trade debts
+€303,972
Tax, wage and social debts
-€31,024
Other debts
+€2.1m
Accrued charges and deferred income
+€95,458
Investment (derived)
-€3.1m
Investment in fixed assets (net)
-€3.1m
Financing
-€1.8m
Debts after one year
-€1.3m
Current portion of long-term debt
-€23,880
Contributions, distributions and other
-€450,000
Cash 2025
€964,556
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €29,647,992 | €31,094,963 | +€1.4m | +4.9% |
| Fixed assets | 21/28 | €24,314,651 | €25,881,461 | +€1.6m | +6.4% |
| Intangible fixed assets | 21 | €799,438 | €631,063 | -€168,376 | -21.1% |
| Tangible fixed assets | 22/27 | €20,191,607 | €22,292,792 | +€2.1m | +10.4% |
| Land and buildings | 22 | €20,191,607 | €22,292,760 | +€2.1m | +10.4% |
| Plant, machinery and equipment | 23 | - | €32 | +€32 | |
| Financial fixed assets | 28 | €3,323,606 | €2,957,606 | -€366,000 | -11.0% |
| Affiliated companies | 280/1 | - | €2,357,606 | +€2.4m | |
| Participating interests | 280 | - | €2,357,606 | +€2.4m | |
| Other financial fixed assets | 284/8 | - | €600,000 | +€600,000 | |
| Shares | 284 | - | €460,000 | +€460,000 | |
| Amounts receivable and cash guarantees | 285/8 | - | €140,000 | +€140,000 | |
| Current assets | 29/58 | €5,333,341 | €5,213,502 | -€119,839 | -2.2% |
| Amounts receivable after more than one year | 29 | €906,596 | €624,566 | -€282,030 | -31.1% |
| Other amounts receivable | 291 | €906,596 | €624,566 | -€282,030 | -31.1% |
| Stocks and contracts in progress | 3 | €315,417 | €315,417 | = | 0.0% |
| Stocks | 30/36 | €315,417 | €315,417 | = | 0.0% |
| Goods purchased for resale | 34 | - | €315,417 | +€315,417 | |
| Amounts receivable within one year | 40/41 | €1,102,562 | €701,513 | -€401,049 | -36.4% |
| Trade receivables | 40 | €277,238 | €162,628 | -€114,610 | -41.3% |
| Other amounts receivable | 41 | €825,324 | €538,885 | -€286,439 | -34.7% |
| Current investments | 50/53 | €2,602,681 | €2,602,681 | = | 0.0% |
| Own shares | 50 | - | €2,602,681 | +€2.6m | |
| Cash at bank and in hand | 54/58 | €351,667 | €964,556 | +€612,889 | +174% |
| Deferred charges and accrued income | 490/1 | €54,418 | €4,769 | -€49,649 | -91.2% |
| Total equity and liabilities | 10/49 | €29,647,992 | €31,094,963 | +€1.4m | +4.9% |
| Equity | 10/15 | €12,663,298 | €12,981,697 | +€318,399 | +2.5% |
| Contributions | 10/11 | €996,191 | €996,191 | = | 0.0% |
| Capital | 10 | €987,378 | €987,378 | = | 0.0% |
| Issued capital | 100 | €987,378 | €987,378 | = | 0.0% |
| Contributions outside capital | 11 | €8,813 | €8,813 | = | 0.0% |
| Share premium | 1100/10 | €8,813 | €8,813 | = | 0.0% |
| Revaluation surpluses | 12 | €4,286,340 | €4,087,783 | -€198,556 | -4.6% |
| Reserves | 13 | €7,279,440 | €7,438,466 | +€159,027 | +2.2% |
| Non-distributable reserves | 130/1 | €2,701,419 | €2,701,419 | = | 0.0% |
| Legal reserve | 130 | €98,738 | €98,738 | = | 0.0% |
| Own shares acquired | 1312 | €2,602,681 | €2,602,681 | = | 0.0% |
| Tax-exempt reserves | 132 | €579,465 | €539,935 | -€39,530 | -6.8% |
| Distributable reserves | 133 | €3,998,556 | €4,197,113 | +€198,556 | +5.0% |
| Profit (loss) carried forward | 14 | €101,328 | €459,257 | +€357,929 | +353% |
| Provisions and deferred taxes | 16 | €299,586 | €286,409 | -€13,177 | -4.4% |
| Provisions for liabilities and charges | 160/5 | €109,000 | €109,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €109,000 | €109,000 | = | 0.0% |
| Deferred taxes | 168 | €190,586 | €177,409 | -€13,177 | -6.9% |
| Amounts payable | 17/49 | €16,685,108 | €17,826,857 | +€1.1m | +6.8% |
| Amounts payable after more than one year | 17 | €10,439,548 | €9,094,216 | -€1.3m | -12.9% |
| Financial debts | 170/4 | €10,439,548 | €9,094,216 | -€1.3m | -12.9% |
| Credit institutions | 173 | - | €9,094,216 | +€9.1m | |
| Amounts payable within one year | 42/48 | €6,093,949 | €8,485,572 | +€2.4m | +39.2% |
| Current portion of amounts payable after more than one year | 42 | €1,921,894 | €1,898,013 | -€23,880 | -1.2% |
| Financial debts | 43 | €100,000 | €100,000 | = | 0.0% |
| Credit institutions | 430/8 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €622,544 | €926,516 | +€303,972 | +48.8% |
| Suppliers | 440/4 | €622,544 | €926,516 | +€303,972 | +48.8% |
| Taxes, remuneration and social security | 45 | €196,219 | €165,196 | -€31,024 | -15.8% |
| Taxes | 450/3 | €196,219 | €165,196 | -€31,024 | -15.8% |
| Other amounts payable | 47/48 | €3,253,292 | €5,395,847 | +€2.1m | +65.9% |
| Accrued charges and deferred income | 492/3 | €151,612 | €247,069 | +€95,458 | +63.0% |
| Operating income | 70/76A | - | €4,105,872 | +€4.1m | |
| Turnover | 70 | - | €4,102,793 | +€4.1m | |
| Other operating income | 74 | - | €3,078 | +€3,078 | |
| Operating charges | 60/66A | - | €2,695,420 | +€2.7m | |
| Goods for resale, raw materials and consumables | 60 | - | €470,690 | +€470,690 | |
| Purchases | 600/8 | - | €470,690 | +€470,690 | |
| Services and other goods | 61 | - | €460,675 | +€460,675 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,372,255 | €1,492,544 | +€120,290 | +8.8% |
| Other operating charges | 640/8 | €233,409 | €271,511 | +€38,101 | +16.3% |
| Gross operating margin | 9900 | €2,829,576 | - | -€2.8m | |
| Operating profit (loss) | 9901 | €1,223,912 | €1,410,452 | +€186,540 | +15.2% |
| Financial income | 75/76B | €101,365 | €91,061 | -€10,305 | -10.2% |
| Recurring financial income | 75 | €101,365 | €91,061 | -€10,305 | -10.2% |
| Income from financial fixed assets | 750 | - | €47,468 | +€47,468 | |
| Income from current assets | 751 | - | €43,591 | +€43,591 | |
| Other financial income | 752/9 | - | €2 | +€2 | |
| Financial charges | 65/66B | €422,152 | €435,743 | +€13,591 | +3.2% |
| Recurring financial charges | 65 | €422,152 | €435,743 | +€13,591 | +3.2% |
| Debt charges | 650 | - | €428,947 | +€428,947 | |
| Other financial charges | 652/9 | - | €6,796 | +€6,796 | |
| Profit (loss) for the period before taxes | 9903 | €903,125 | €1,065,770 | +€162,645 | +18.0% |
| Transfer from deferred taxes | 780 | €13,177 | €13,177 | = | 0.0% |
| Income taxes | 67/77 | €405,388 | €310,548 | -€94,841 | -23.4% |
| Taxes | 670/3 | - | €310,548 | +€310,548 | |
| Profit (loss) for the period | 9904 | €510,913 | €768,399 | +€257,486 | +50.4% |
| Transfer from tax-exempt reserves | 789 | €39,530 | €39,530 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €550,443 | €807,929 | +€257,486 | +46.8% |
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 18 October 2026 via checked.be.