13ZENLF: 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.
13ZENLF
Largest movements
- Cash +€31,423
up €31,423 (+126%), from €24,958 to €56,381
mainly Other debts (+€25,200) and Depreciation (+€23,098)
- Tangible fixed assets -€22,008
down €22,008 (-45.9%), from €47,996 to €25,988
of which Plant, machinery and equipment: -€11,650
- Receivables within one year -€2,787
down €2,787 (-7.1%), from €39,178 to €36,391
of which Trade receivables: -€6,818
- Other debts +€25,200
new in 2025: €25,200
- Reserves -€10,700
down €10,700 (-13.1%), from €81,560 to €70,860
of which Distributable reserves: -€10,700
- Debts after one year -€6,489
down €6,489 (-62.6%), from €10,365 to €3,876
- Gross operating margin +€1,551
up €1,551 (+3.4%), from €44,990 to €46,541
- Depreciation -€1,513
down €1,513 (-6.1%), from €24,612 to €23,098
- Taxes +€1,143
up €1,143 (+20.8%), from €5,500 to €6,643
- Other operating charges -€599
down €599 (-36.9%), from €1,622 to €1,024
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €113,145 | €119,644 | +€6,499 | +5.7% |
| Fixed assets | 21/28 | €48,133 | €26,124 | -€22,008 | -45.7% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €47,996 | €25,988 | -€22,008 | -45.9% |
| Plant, machinery and equipment | 23 | €25,846 | €14,195 | -€11,650 | -45.1% |
| Furniture and vehicles | 24 | €22,150 | €11,792 | -€10,358 | -46.8% |
| Financial fixed assets | 28 | €137 | €137 | = | 0.0% |
| Current assets | 29/58 | €65,012 | €93,520 | +€28,508 | +43.8% |
| Amounts receivable within one year | 40/41 | €39,178 | €36,391 | -€2,787 | -7.1% |
| Trade receivables | 40 | €14,691 | €7,873 | -€6,818 | -46.4% |
| Other amounts receivable | 41 | €24,487 | €28,518 | +€4,031 | +16.5% |
| Current investments | 50/53 | €5 | €7 | +€1 | +25.9% |
| Cash at bank and in hand | 54/58 | €24,958 | €56,381 | +€31,423 | +126% |
| Deferred charges and accrued income | 490/1 | €871 | €741 | -€130 | -14.9% |
| Total equity and liabilities | 10/49 | €113,145 | €119,644 | +€6,499 | +5.7% |
| Equity | 10/15 | €94,333 | €83,694 | -€10,640 | -11.3% |
| Contributions | 10/11 | €12,550 | €12,550 | = | 0.0% |
| Reserves | 13 | €81,560 | €70,860 | -€10,700 | -13.1% |
| 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 | €79,700 | €69,000 | -€10,700 | -13.4% |
| Profit (loss) carried forward | 14 | €223 | €284 | +€60 | +26.9% |
| Amounts payable | 17/49 | €18,811 | €35,951 | +€17,139 | +91.1% |
| Amounts payable after more than one year | 17 | €10,365 | €3,876 | -€6,489 | -62.6% |
| Financial debts | 170/4 | €10,365 | €3,876 | -€6,489 | -62.6% |
| Amounts payable within one year | 42/48 | €8,446 | €32,074 | +€23,628 | +280% |
| Current portion of amounts payable after more than one year | 42 | €6,961 | €6,489 | -€472 | -6.8% |
| Trade debts | 44 | €0 | €0 | = | |
| Suppliers | 440/4 | €0 | €0 | = | |
| Taxes, remuneration and social security | 45 | €1,486 | €385 | -€1,100 | -74.1% |
| Taxes | 450/3 | €1,486 | €385 | -€1,100 | -74.1% |
| Other amounts payable | 47/48 | - | €25,200 | +€25,200 | |
| Remuneration, social security and pensions | 62 | -€28 | - | +€28 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,612 | €23,098 | -€1,513 | -6.1% |
| Other operating charges | 640/8 | €1,622 | €1,024 | -€599 | -36.9% |
| Gross operating margin | 9900 | €44,990 | €46,541 | +€1,551 | +3.4% |
| Operating profit (loss) | 9901 | €18,783 | €22,419 | +€3,635 | +19.4% |
| Financial income | 75/76B | €3 | €5 | +€2 | +67.3% |
| Recurring financial income | 75 | €3 | €5 | +€2 | +67.3% |
| Financial charges | 65/66B | €1,311 | €1,221 | -€90 | -6.9% |
| Recurring financial charges | 65 | €1,311 | €1,221 | -€90 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €17,476 | €21,203 | +€3,728 | +21.3% |
| Income taxes | 67/77 | €5,500 | €6,643 | +€1,143 | +20.8% |
| Profit (loss) for the period | 9904 | €11,975 | €14,560 | +€2,585 | +21.6% |
| Profit (loss) for the period to be appropriated | 9905 | €11,975 | €14,560 | +€2,585 | +21.6% |
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 15 October 2026 via checked.be.