ZUGRAY CONSTRUCT: 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.
ZUGRAY CONSTRUCT
Largest movements
- Receivables within one year +€95,688
up €95,688 (+49.9%), from €191,763 to €287,451
of which Trade receivables: +€84,067
- Cash +€70,732
up €70,732 (+148.0%), from €47,776 to €118,508
mainly Net result for the year (+€104,717) and Trade debts (+€70,554)
- Tangible fixed assets +€18,339
up €18,339 (+604.3%), from €3,035 to €21,374
of which Furniture and vehicles: +€19,286
- Profit (loss) carried forward +€104,717
up €104,717 (+127.3%), from €82,263 to €186,980
- Trade debts +€70,554
up €70,554 (+114.1%), from €61,829 to €132,383
- Tax, wage and social debts +€23,276
up €23,276 (+94.8%), from €24,559 to €47,835
of which Taxes: +€29,276
- Provisions -€16,500
no longer reported in 2025 (was €16,500)
- Gross operating margin +€96,333
up €96,333 (+534.4%), from €18,028 to €114,361
- Other operating charges +€8,087
up €8,087 (+516.1%), from €1,567 to €9,654
- Taxes -€2,390
down €2,390 (-28.9%), from €8,263 to €5,873
- Financial income +€1,250
up €1,250 (+17.7%), from €7,076 to €8,326
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 | €246,364 | €427,537 | +€181,173 | +73.5% |
| Fixed assets | 21/28 | €3,035 | €21,374 | +€18,339 | +604.3% |
| Tangible fixed assets | 22/27 | €3,035 | €21,374 | +€18,339 | +604.3% |
| Plant, machinery and equipment | 23 | €3,035 | €2,088 | -€947 | -31.2% |
| Furniture and vehicles | 24 | - | €19,286 | +€19,286 | |
| Current assets | 29/58 | €243,329 | €406,163 | +€162,834 | +66.9% |
| Amounts receivable within one year | 40/41 | €191,763 | €287,451 | +€95,688 | +49.9% |
| Trade receivables | 40 | €54,873 | €138,940 | +€84,067 | +153.2% |
| Other amounts receivable | 41 | €136,890 | €148,511 | +€11,621 | +8.5% |
| Cash at bank and in hand | 54/58 | €47,776 | €118,508 | +€70,732 | +148.0% |
| Deferred charges and accrued income | 490/1 | €3,790 | €204 | -€3,586 | -94.6% |
| Total equity and liabilities | 10/49 | €246,364 | €427,537 | +€181,173 | +73.5% |
| Equity | 10/15 | €142,602 | €247,319 | +€104,717 | +73.4% |
| Contributions | 10/11 | €10,800 | €10,800 | = | 0.0% |
| Outside capital | 11 | - | €10,800 | +€10,800 | |
| Other | 1109/19 | - | €10,800 | +€10,800 | |
| Reserves | 13 | €49,539 | €49,539 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €47,679 | €47,679 | = | 0.0% |
| Profit (loss) carried forward | 14 | €82,263 | €186,980 | +€104,717 | +127.3% |
| Provisions and deferred taxes | 16 | €16,500 | - | -€16,500 | |
| Provisions for liabilities and charges | 160/5 | €16,500 | - | -€16,500 | |
| Environmental obligations | 163 | €16,500 | - | -€16,500 | |
| Amounts payable | 17/49 | €87,262 | €180,218 | +€92,956 | +106.5% |
| Amounts payable within one year | 42/48 | €87,262 | €180,218 | +€92,956 | +106.5% |
| Trade debts | 44 | €61,829 | €132,383 | +€70,554 | +114.1% |
| Suppliers | 440/4 | €61,829 | €132,383 | +€70,554 | +114.1% |
| Taxes, remuneration and social security | 45 | €24,559 | €47,835 | +€23,276 | +94.8% |
| Taxes | 450/3 | €17,279 | €46,555 | +€29,276 | +169.4% |
| Remuneration and social security | 454/9 | €7,280 | €1,280 | -€6,000 | -82.4% |
| Other amounts payable | 47/48 | €874 | - | -€874 | |
| Non-recurring operating income | 76A | - | €1,087 | +€1,087 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €755 | €1,334 | +€579 | +76.7% |
| Other operating charges | 640/8 | €1,567 | €9,654 | +€8,087 | +516.1% |
| Gross operating margin | 9900 | €18,028 | €114,361 | +€96,333 | +534.4% |
| Operating profit (loss) | 9901 | €15,706 | €103,373 | +€87,667 | +558.2% |
| Financial income | 75/76B | €7,076 | €8,326 | +€1,250 | +17.7% |
| Recurring financial income | 75 | €7,076 | €8,326 | +€1,250 | +17.7% |
| Financial charges | 65/66B | €840 | €1,109 | +€269 | +32.0% |
| Recurring financial charges | 65 | €840 | €1,109 | +€269 | +32.0% |
| Profit (loss) for the period before taxes | 9903 | €21,942 | €110,590 | +€88,648 | +404.0% |
| Income taxes | 67/77 | €8,263 | €5,873 | -€2,390 | -28.9% |
| Profit (loss) for the period | 9904 | €13,679 | €104,717 | +€91,038 | +665.5% |
| Profit (loss) for the period to be appropriated | 9905 | €13,679 | €104,717 | +€91,038 | +665.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.