ZUPOR: 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
ZUPOR
NACE 43.240, Other construction installation
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€699,875
2024 · €602,890+€96,986
Equity
€1.5m
2024 · €1.1m+€394,875
Cash
€369,554
2024 · €406,705-€37,151
Balance sheet total
€4.4m
2024 · €4.1m+€366,452
Largest movements
Assets
- Receivables within one year +€285,390
up €285,390 (+16.5%), from €1.7m to €2.0m
of which Other amounts receivable: +€238,978
- Stocks and contracts +€163,744
up €163,744 (+13.4%), from €1.2m to €1.4m
- Intangible fixed assets -€81,153
down €81,153 (-33.1%), from €245,507 to €164,354
- Tangible fixed assets +€49,122
up €49,122 (+10.8%), from €453,541 to €502,663
of which Plant, machinery and equipment: +€50,368
Equity and liabilities
- Reserves +€394,875
up €394,875 (+45.0%), from €877,312 to €1.3m
- Trade debts -€138,579
down €138,579 (-11.6%), from €1.2m to €1.1m
- Other debts +€84,558
up €84,558 (+19.9%), from €425,306 to €509,864
- Tax, wage and social debts +€58,486
up €58,486 (+41.5%), from €141,091 to €199,577
of which Taxes: +€43,902
Income statement
- Gross operating margin +€302,061
up €302,061 (+16.1%), from €1.9m to €2.2m
- Staff costs +€152,386
up €152,386 (+17.9%), from €849,126 to €1.0m
- Depreciation +€34,438
up €34,438 (+14.7%), from €233,969 to €268,407
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
€602,890
Gross operating margin
+€302,061
Staff costs
-€152,386
Depreciation
-€34,438
Write-downs
-€51
Other operating charges
-€319
Other operating items
+€1,320
Financial income
+€1,241
Financial charges
-€1,374
Taxes
-€19,068
Result 2025
€699,875
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
+€536,782
Investment
-€236,376
Financing
-€337,557
Cash 2024
€406,705
From operations (derived)
+€536,782
Net result for the year
+€699,875
Depreciation
+€268,407
Stocks and contracts
-€163,744
Receivables within one year
-€285,390
Deferred charges and accrued income
+€13,499
Trade debts
-€138,579
Tax, wage and social debts
+€58,486
Other debts
+€84,558
Accrued charges and deferred income
-€330
Investment (derived)
-€236,376
Investment in fixed assets (net)
-€236,376
Financing
-€337,557
Debts after one year
-€40,239
Current portion of long-term debt
+€7,682
Contributions, distributions and other
-€305,000
Cash 2025
€369,554
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,074,221 | €4,440,673 | +€366,452 | +9.0% |
| Fixed assets | 21/28 | €699,191 | €667,159 | -€32,031 | -4.6% |
| Intangible fixed assets | 21 | €245,507 | €164,354 | -€81,153 | -33.1% |
| Tangible fixed assets | 22/27 | €453,541 | €502,663 | +€49,122 | +10.8% |
| Plant, machinery and equipment | 23 | €343,883 | €394,252 | +€50,368 | +14.6% |
| Furniture and vehicles | 24 | €95,412 | €104,834 | +€9,422 | +9.9% |
| Leasing and similar rights | 25 | €10,163 | €0 | -€10,163 | -100.0% |
| Other tangible fixed assets | 26 | €4,082 | €3,577 | -€506 | -12.4% |
| Financial fixed assets | 28 | €143 | €143 | = | 0.0% |
| Current assets | 29/58 | €3,375,030 | €3,773,514 | +€398,484 | +11.8% |
| Stocks and contracts in progress | 3 | €1,218,239 | €1,381,983 | +€163,744 | +13.4% |
| Stocks | 30/36 | €1,218,239 | €1,381,983 | +€163,744 | +13.4% |
| Amounts receivable within one year | 40/41 | €1,727,315 | €2,012,705 | +€285,390 | +16.5% |
| Trade receivables | 40 | €1,691,595 | €1,738,007 | +€46,412 | +2.7% |
| Other amounts receivable | 41 | €35,720 | €274,698 | +€238,978 | +669.0% |
| Cash at bank and in hand | 54/58 | €406,705 | €369,554 | -€37,151 | -9.1% |
| Deferred charges and accrued income | 490/1 | €22,771 | €9,272 | -€13,499 | -59.3% |
| Total equity and liabilities | 10/49 | €4,074,221 | €4,440,673 | +€366,452 | +9.0% |
| Equity | 10/15 | €1,145,912 | €1,540,787 | +€394,875 | +34.5% |
| Contributions | 10/11 | €268,600 | €268,600 | = | 0.0% |
| Reserves | 13 | €877,312 | €1,272,187 | +€394,875 | +45.0% |
| Distributable reserves | 133 | €877,312 | €1,272,187 | +€394,875 | +45.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,928,309 | €2,899,886 | -€28,423 | -1.0% |
| Amounts payable after more than one year | 17 | €437,434 | €397,195 | -€40,239 | -9.2% |
| Financial debts | 170/4 | €437,434 | €397,195 | -€40,239 | -9.2% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €2,488,187 | €2,500,334 | +€12,147 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €254,170 | €261,852 | +€7,682 | +3.0% |
| Financial debts | 43 | €475,000 | €475,000 | = | 0.0% |
| Credit institutions | 430/8 | €475,000 | €475,000 | = | 0.0% |
| Trade debts | 44 | €1,192,620 | €1,054,041 | -€138,579 | -11.6% |
| Suppliers | 440/4 | €1,192,620 | €1,054,041 | -€138,579 | -11.6% |
| Taxes, remuneration and social security | 45 | €141,091 | €199,577 | +€58,486 | +41.5% |
| Taxes | 450/3 | €30,290 | €74,192 | +€43,902 | +144.9% |
| Remuneration and social security | 454/9 | €110,802 | €125,385 | +€14,583 | +13.2% |
| Other amounts payable | 47/48 | €425,306 | €509,864 | +€84,558 | +19.9% |
| Accrued charges and deferred income | 492/3 | €2,687 | €2,357 | -€330 | -12.3% |
| Remuneration, social security and pensions | 62 | €849,126 | €1,001,512 | +€152,386 | +17.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €233,969 | €268,407 | +€34,438 | +14.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€51 | €0 | +€51 | |
| Other operating charges | 640/8 | €27,565 | €27,885 | +€319 | +1.2% |
| Non-recurring operating charges | 66A | €1,320 | €0 | -€1,320 | -100.0% |
| Gross operating margin | 9900 | €1,879,955 | €2,182,016 | +€302,061 | +16.1% |
| Operating profit (loss) | 9901 | €768,026 | €884,212 | +€116,186 | +15.1% |
| Financial income | 75/76B | €4,070 | €5,312 | +€1,241 | +30.5% |
| Recurring financial income | 75 | €4,070 | €5,312 | +€1,241 | +30.5% |
| Financial charges | 65/66B | €47,777 | €49,151 | +€1,374 | +2.9% |
| Recurring financial charges | 65 | €47,777 | €49,151 | +€1,374 | +2.9% |
| Profit (loss) for the period before taxes | 9903 | €724,320 | €840,373 | +€116,054 | +16.0% |
| Income taxes | 67/77 | €121,430 | €140,498 | +€19,068 | +15.7% |
| Profit (loss) for the period | 9904 | €602,890 | €699,875 | +€96,986 | +16.1% |
| Profit (loss) for the period to be appropriated | 9905 | €602,890 | €699,875 | +€96,986 | +16.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.