ZENITH (0712.733.432): financials and annual accounts

ZENITH

Ghent ·KBO/BCE: BE 0712.733.432

Line	2025	2024	2023	2022	2021	2020	2019
Balance sheet: assets
Total assets`20/58`	728,964	848,838	836,250	840,842	625,438	519,978	194,284
Fixed assets`21/28`	705,110	729,359	753,607	777,436	459,195	456,075	186,902
Tangible fixed assets`22/27`	705,110	729,359	753,607	777,436	459,195	456,075	186,902
Land and buildings`22`	705,110	729,359	753,607	777,436	459,195	456,075	186,902
Current assets`29/58`	23,854	119,480	82,643	63,406	166,243	63,903	7,382
Amounts receivable within one year`40/41`	8,825	8,825	8,825	33,055	86,297	59,446	3,479
Trade receivables`40`	-	-	-	24,230	79,391	55,161	-
Other amounts receivable`41`	8,825	8,825	8,825	8,825	6,906	4,285	3,479
Cash at bank and in hand`54/58`	15,029	110,655	73,818	30,351	79,946	4,457	3,902
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	728,964	848,838	836,250	840,842	625,438	519,978	194,284
Equity`10/15`	45,307	66,805	56,814	42,304	80,948	-748	522
Contributions`10/11`	18,600	18,600	18,600	18,600	18,600	12,400	12,400
Issued capital`100`	-	-	-	-	-	-	18,600
Uncalled capital`101`	-	-	-	-	-	-	6,200
Contributions outside capital`11`	-	-	-	-	-	12,400	-
Share premium`1100/10`	-	-	-	-	-	12,400	-
Reserves`13`	84,088	91,456	91,456	95,140	98,823	-	-
Tax-exempt reserves`132`	84,088	91,456	91,456	95,140	98,823	-	-
Profit (loss) carried forward`14`	-57,381	-43,250	-53,241	-71,435	-36,475	-13,148	-11,878
Provisions and deferred taxes`16`	28,029	30,485	30,485	31,713	32,941	-	-
Deferred taxes`168`	28,029	30,485	30,485	31,713	32,941	-	-
Amounts payable`17/49`	655,628	751,548	748,951	766,824	511,549	520,726	193,763
Amounts payable after more than one year`17`	980	980	980	-	-	-	-
Other amounts payable`178/9`	980	980	980	-	-	-	-
Amounts payable within one year`42/48`	654,539	750,568	747,971	766,824	511,549	520,726	193,763
Trade debts`44`	3,885	2,624	6,527	54,657	57,147	31,243	2,763
Suppliers`440/4`	3,885	2,624	6,527	54,657	57,147	31,243	2,763
Taxes, remuneration and social security`45`	3,210	6,500	-	-	-	-	-
Taxes`450/3`	3,210	6,500	-	-	-	-	-
Other amounts payable`47/48`	647,443	741,443	741,443	712,167	454,402	489,483	191,000
Accrued charges and deferred income`492/3`	109	-	-	-	-	-	-
Income statement
Non-recurring operating income`76A`	-	-	-	-	134,258	-	-
Gross operating margin`9900`	40,178	43,600	40,463	12,167	134,362	-11,282	-4,588
Goods, raw materials, services and sundry goods`60/61`	-	-	-	-	-	-	4,588
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	24,249	24,249	24,249	20,209	8,316	-	6,685
Other operating charges`640/8`	3,028	2,800	2,872	31,757	17,289	-	558
Operating profit (loss)`9901`	12,902	16,551	13,342	-39,800	108,756	-11,282	-11,832
Financial income`75/76B`	-	-	-	-	0	-	15
Recurring financial income`75`	-	-	-	-	0	-	15
Financial charges`65/66B`	60	60	60	72	319	50	61
Recurring financial charges`65`	60	60	60	72	319	50	61
Profit (loss) for the period before taxes`9903`	12,842	16,491	13,282	-39,872	108,438	-11,332	-11,878
Transfer from deferred taxes`780`	9,824	-	1,228	1,228	623	-	-
Transfer to deferred taxes`680`	-	-	-	-	33,565	-	-
Income taxes`67/77`	36,796	6,500	-	-	-	-	-
Profit (loss) for the period`9904`	-14,131	9,991	14,510	-38,644	75,497	-11,332	-11,878
Transfer from tax-exempt reserves`789`	-	-	3,684	3,684	1,870	-	-
Transfer to tax-exempt reserves`689`	-	-	-	-	100,694	-	-
Profit (loss) for the period to be appropriated`9905`	-14,131	9,991	18,194	-34,960	-23,327	-11,332	-11,878
Appropriation of the result
Profit (loss) to be appropriated`9906`	-57,381	-43,250	-53,241	-71,435	-36,475	-13,148	-11,878
Profit (loss) brought forward from the previous period`14P`	-43,250	-53,241	-71,435	-36,475	-13,148	-	-
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Financial year	Type	Filed	Reference	Document
31-12-2025	micro format	28-07-2026	2026-00342705	PDF
31-12-2024	micro format	28-07-2025	2025-00328092	PDF
31-12-2023	micro format	31-07-2024	2024-00318898	PDF
31-12-2022	micro format	31-08-2023	2023-00397123	PDF
31-12-2021	micro format	22-05-2023	2023-00092038	PDF
31-12-2020	micro format	18-10-2021	2021-72400267	PDF
31-12-2019	micro format	30-06-2020	2020-23000294	PDF

Line	2025	2024	2023	2022	2021	2020	2019
EBITDA	37,151	40,800	37,591	-19,591	117,072	-	-5,147
Cash flow	10,118	34,240	38,759	-18,435	83,812	-	-5,193
Investment in fixed assets (approximation)	0	0	420	338,450	192,178	277,200	193,588
Change in cash	-95,625	36,837	43,467	-49,595	75,489	555	-
Working capital	-630,685	-631,088	-665,328	-703,419	-345,306	-456,823	-186,381
Solvency	6.2%	7.9%	6.8%	5.0%	12.9%	-0.1%	0.3%
Current ratio	0.04	0.16	0.11	0.08	0.32	0.12	0.04
Debt to equity	14.47	11.25	13.18	18.13	6.32	-	-
ROE	-31.2%	15.0%	25.5%	-91.3%	93.3%	-	-
ROA	-1.9%	1.2%	1.7%	-4.6%	12.1%	-2.2%	-6.1%
Interest coverage	over 100	over 100	over 100	-273.04	over 100	-	-
Supplier credit	-	-	-	-	-	-	220 days

Item	2025	2024	2023	2022	2021
Tangible fixed assets	-	-	€420	€338,450	€192,178
Depreciation and write-downs of the year	€24,249	€24,249	€24,249	€20,209	€8,316

ZENITH

Annual accounts 2025

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency6.2%

Current ratio0.04

Return on assets-1.9%

Filed annual accounts

Filings

Key figures and ratios

Investments

Insights on ZENITH

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