ZEN-IT
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 15-09-2026 at the NBB all 26 filings
Amounts without an identifiable currency are taken as euros.
Equity
€7,405▼ 71.4%
2024 · €25,928
Total assets
€44,457▼ 9.6%
2024 · €49,179
Net result
-€18,522▼ 42.5%
2024 · -€12,997
Working capital
€1,724▼ 90.0%
2024 · €17,198
In the rankings
#9 oldest company in Charleroi, Publishing and media sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€18,712
▼ 43.2%
2025
20182025
Net result
-€18,522
▼ 42.5%
2025
lowest quarter of the sector
20182025
Equity
€7,405
▼ 71.4%
2025
lowest quarter of the sector
20182025
Total assets
€44,457
▼ 9.6%
2025
lowest quarter of the sector
20182025
Debt
€37,052
▲ 59.4%
2025
20182025
Working capital
€1,724
▼ 90.0%
2025
middle half of the sector
20182025
Solvency
16.7%
▼ 36.1pp
2025
middle half of the sector
20182025
Current ratio
1.05
▼ 0.69
2025
middle half of the sector
20182025
Return on assets (ROA)
-41.7%
▼ 15.2pp
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€19,563-€5,583€2,405▼ 56.9%€2,123▼ 11.7%-€3,118-€11,443▼ 267%-€13,069▼ 14.2%-€18,712▼ 43.2%
Net result-€20,543-€4,507€2,436within the sector's middle half▼ 46.0%€1,862within the sector's middle half▼ 23.5%-€3,196below the sector's middle half-€11,448below the sector's middle half▼ 258%-€12,997below the sector's middle half▼ 13.5%-€18,522below the sector's middle half▼ 42.5%
Equity€44,764-€49,271▲ 10.1%€51,707within the sector's middle half▲ 4.9%€53,569within the sector's middle half▲ 3.6%€50,373within the sector's middle half▼ 6.0%€38,925within the sector's middle half▼ 22.7%€25,928within the sector's middle half▼ 33.4%€7,405below the sector's middle half▼ 71.4%
Total assets€66,770-€77,027▲ 15.4%€75,412within the sector's middle half▼ 2.1%€71,381within the sector's middle half▼ 5.3%€68,340within the sector's middle half▼ 4.3%€58,136within the sector's middle half▼ 14.9%€49,179within the sector's middle half▼ 15.4%€44,457below the sector's middle half▼ 9.6%
Debt€22,006-€27,756▲ 26.1%€23,705▼ 14.6%€17,812▼ 24.9%€17,967▲ 0.9%€19,212▲ 6.9%€23,251▲ 21.0%€37,052▲ 59.4%
Working capital€36,609-€34,284▼ 6.4%€35,531within the sector's middle half▲ 3.6%€36,764within the sector's middle half▲ 3.5%€34,453within the sector's middle half▼ 6.3%€26,937within the sector's middle half▼ 21.8%€17,198within the sector's middle half▼ 36.2%€1,724within the sector's middle half▼ 90.0%
Solvency67.0%-64.0%▼ 3.1pp68.6%within the sector's middle half▲ 4.6pp75.0%above the sector's middle half▲ 6.5pp73.7%above the sector's middle half▼ 1.3pp67.0%within the sector's middle half▼ 6.8pp52.7%within the sector's middle half▼ 14.2pp16.7%within the sector's middle half▼ 36.1pp
Current ratio7.64-2.52▼ 5.122.66within the sector's middle half▲ 0.143.06within the sector's middle half▲ 0.412.92within the sector's middle half▼ 0.152.40within the sector's middle half▼ 0.521.74within the sector's middle half▼ 0.661.05within the sector's middle half▼ 0.69
Return on assets (ROA)-30.8%-5.9%▲ 36.6pp3.2%within the sector's middle half▼ 2.6pp2.6%within the sector's middle half▼ 0.6pp-4.7%below the sector's middle half▼ 7.3pp-19.7%below the sector's middle half▼ 15.0pp-26.4%below the sector's middle half▼ 6.7pp-41.7%below the sector's middle half▼ 15.2pp
above
within
below
The sector band is the middle half of the companies in Motion picture, video and television programme production, sound recording and music publishing activities (NACE 59). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €18,712, larger than the loss of €13,069 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €44,457
Fixed assets
€5,681 ▼ 34.9%
Current assets
€38,776 ▼ 4.1%
Equity and liabilities €44,457
Equity
€7,405 ▼ 71.4%
Debt
€37,052 ▲ 59.4%
Debt's share of the balance-sheet total rises from 47.3% to 83.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€15,664▼
2024 · -€9,812
Cash flow
-€15,474▼
2024 · -€9,739
Debt to equity
5.00▲
2024 · 0.90
ROE
-250.1%▼
2024 · -50.1%
Debt ≤ 1 year
€37,052▲
2024 · €23,251
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €2,188 | €2,039 | - | - | - |
| Depreciation and write-downs of the year | €3,834 | €4,423 | €3,933 | €3,258 | €3,049 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,246 | €4,526 | €4,807 | €3,834 | €4,423 | €3,933 | €3,258 | €3,049 | ▼ 6.4% |
| Other operating charges640/8 | - | - | - | €527 | €1,336 | €1,643 | €1,510 | €1,671 | ▲ 10.6% |
| Gross operating margin9900 | -€11,797 | €11,460 | €9,473 | €6,484 | €2,642 | -€5,867 | -€8,301 | -€13,993 | ▼ 68.6% |
| Operating profit (loss)9901 | -€19,563 | €5,583 | €2,405 | €2,123 | -€3,118 | -€11,443 | -€13,069 | -€18,712 | ▼ 43.2% |
| Financial income75/76B | - | - | - | - | - | €0 | €115 | €190 | ▲ 65.3% |
| Recurring financial income75 | €11 | €62 | €489 | - | - | €0 | €115 | €190 | ▲ 65.3% |
| Financial charges65/66B | - | - | - | €261 | €78 | €6 | €43 | - | - |
| Recurring financial charges65 | €941 | €1,137 | €458 | €261 | €78 | €6 | €43 | - | - |
| Profit (loss) for the period before taxes9903 | -€20,494 | €4,507 | €2,436 | €1,862 | -€3,196 | -€11,448 | -€12,997 | -€18,522 | ▼ 42.5% |
| Income taxes67/77 | €49 | - | - | - | - | - | - | - | - |
| Profit (loss) for the period9904 | -€20,543 | €4,507 | €2,436 | €1,862 | -€3,196 | -€11,448 | -€12,997 | -€18,522 | ▼ 42.5% |
| Profit (loss) for the period to be appropriated9905 | -€20,543 | €4,507 | €2,436 | €1,862 | -€3,196 | -€11,448 | -€12,997 | -€18,522 | ▼ 42.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €66,770 | €77,027 | €75,412 | €71,381 | €68,340 | €58,136 | €49,179 | €44,457 | ▼ 9.6% |
| Fixed assets21/28 | €24,645 | €20,119 | €18,451 | €16,806 | €15,920 | €11,987 | €8,730 | €5,681 | ▼ 34.9% |
| Tangible fixed assets22/27 | €24,645 | €20,119 | €18,451 | €16,806 | €15,920 | €11,987 | €8,730 | €5,681 | ▼ 34.9% |
| Land and buildings22 | - | - | - | €13,751 | €11,571 | €9,391 | €7,210 | €5,030 | ▼ 30.2% |
| Plant, machinery and equipment23 | - | - | - | €933 | €1,584 | €1,173 | €762 | €351 | ▼ 53.9% |
| Furniture and vehicles24 | - | - | - | €2,122 | €2,765 | €1,424 | €757 | €300 | ▼ 60.4% |
| Current assets29/58 | €42,125 | €56,909 | €56,961 | €54,575 | €52,419 | €46,149 | €40,449 | €38,776 | ▼ 4.1% |
| Amounts receivable within one year40/41 | - | €14,328 | €7,272 | €9,553 | €3,708 | €5,956 | €4,569 | €750 | ▼ 83.6% |
| Trade receivables40 | - | - | - | €9,553 | €3,708 | €5,956 | €4,569 | €750 | ▼ 83.6% |
| Cash at bank and in hand54/58 | €41,659 | €42,581 | €49,296 | €43,995 | €47,232 | €40,029 | €35,021 | €37,041 | ▲ 5.8% |
| Deferred charges and accrued income490/1 | - | - | - | €1,028 | €1,480 | €164 | €859 | €985 | ▲ 14.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €66,770 | €77,027 | €75,412 | €71,381 | €68,340 | €58,136 | €49,179 | €44,457 | ▼ 9.6% |
| Equity10/15 | €44,764 | €49,271 | €51,707 | €53,569 | €50,373 | €38,925 | €25,928 | €7,405 | ▼ 71.4% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Capital10 | - | - | - | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Issued capital100 | - | - | - | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Legal reserve130 | - | - | - | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Profit (loss) carried forward14 | €24,313 | €28,820 | €31,256 | €33,118 | €29,922 | €18,473 | €5,476 | -€13,046 | - |
| Amounts payable17/49 | €22,006 | €27,756 | €23,705 | €17,812 | €17,967 | €19,212 | €23,251 | €37,052 | ▲ 59.4% |
| Amounts payable after more than one year17 | €7,987 | €5,131 | €2,275 | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €5,516 | €22,625 | €21,430 | €17,812 | €17,967 | €19,212 | €23,251 | €37,052 | ▲ 59.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €2,275 | - | - | - | - | - |
| Trade debts44 | €900 | €4,998 | €3,371 | €847 | €1,130 | €1,130 | €358 | €537 | ▲ 50.1% |
| Suppliers440/4 | - | - | - | €847 | €1,130 | €1,130 | €358 | €537 | ▲ 50.1% |
| Taxes, remuneration and social security45 | - | - | - | €1,982 | €2,196 | €1,046 | €1,101 | €845 | ▼ 23.3% |
| Taxes450/3 | - | - | - | €1,982 | €2,196 | €1,046 | €1,101 | €845 | ▼ 23.3% |
| Other amounts payable47/48 | - | - | - | €12,708 | €14,641 | €17,035 | €21,792 | €35,670 | ▲ 63.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€20,543 | €4,507 | €2,436 | €1,862 | -€3,196 | -€11,448 | -€12,997 | -€18,522 | ▼ 42.5% |
| + Depreciation and write-downs630 | €6,246 | €4,526 | €4,807 | €3,834 | €4,423 | €3,933 | €3,258 | €3,049 | ▼ 6.4% |
| Operating cash flow (approximation) | -€14,297 | €9,033 | €7,243 | €5,696 | €1,227 | -€7,516 | -€9,739 | -€15,474 | ▼ 58.9% |
| Investment in fixed assets (approximation) | - | -€0 | -€3,140 | -€2,188 | -€3,538 | €0 | €0 | €0 | - |
| Change in cash | - | €922 | €6,715 | -€5,301 | €3,237 | -€7,203 | -€5,008 | €2,019 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 1,221 companies had the same profile as ZEN-IT has now. Two years later, 88.6% were still going and 3.8% had gone bankrupt.
- Micro
- 20 years or older
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
88.6%
was still going
7.4%
stopped otherwise
3.8%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of ZEN-IT itself is lower: 0.4% within 12 months. It rests on far more data about ZEN-IT than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,221 companies, not a prediction for ZEN-IT. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 26 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 15-09-2026 | 2026-00518561 | |
| 31-12-2024 | micro format | 22-08-2025 | 2025-00399631 | |
| 31-12-2023 | micro format | 30-07-2024 | 2024-00301591 | |
| 31-12-2022 | micro format | 21-03-2023 | 2023-00042213 | |
| 31-12-2021 | micro format | 24-08-2022 | 2022-20310240 | |
| 31-12-2020 | micro format | 04-02-2022 | 2022-04900211 | |
| 31-12-2019 | micro format | 07-09-2020 | 2020-51500485 | |
| 31-12-2018 | micro format | 30-08-2019 | 2019-62500388 | |
| 31-12-2017 | micro format | 18-06-2019 | 2019-19300480 | |
| 31-12-2016 | micro format | 04-08-2017 | 2017-41200044 |