AQUA ZEN: 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.
AQUA ZEN
Largest movements
- Receivables within one year +€47,855
up €47,855 (+131%), from €36,569 to €84,425
of which Trade receivables: +€51,715
- Cash -€14,433
down €14,433 (-19.8%), from €72,794 to €58,361
mainly Receivables within one year (-€47,855) and Debts after one year (-€5,000)
- Tangible fixed assets -€9,326
down €9,326 (-36.2%), from €25,797 to €16,471
of which Furniture and vehicles: -€11,407
- Deferred charges and accrued income -€1,717
down €1,717 (-54.6%), from €3,146 to €1,429
- Trade debts +€11,501
up €11,501 (+173%), from €6,657 to €18,158
- Profit (loss) carried forward +€8,971
up €8,971 (+21.1%), from €42,607 to €51,578
- Debts after one year -€5,000
down €5,000 (-19.5%), from €25,683 to €20,683
- Other debts +€4,493
up €4,493 (+15.5%), from €28,938 to €33,430
- Tax, wage and social debts +€2,629
up €2,629 (+201%), from €1,305 to €3,935
- Gross operating margin +€8,213
up €8,213 (+42.3%), from €19,396 to €27,609
- Taxes +€2,069
up €2,069 (+178%), from €1,164 to €3,233
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 | €138,306 | €160,686 | +€22,380 | +16.2% |
| Fixed assets | 21/28 | €25,797 | €16,471 | -€9,326 | -36.2% |
| Tangible fixed assets | 22/27 | €25,797 | €16,471 | -€9,326 | -36.2% |
| Plant, machinery and equipment | 23 | €860 | €2,940 | +€2,081 | +242% |
| Furniture and vehicles | 24 | €24,938 | €13,531 | -€11,407 | -45.7% |
| Current assets | 29/58 | €112,509 | €144,215 | +€31,706 | +28.2% |
| Amounts receivable within one year | 40/41 | €36,569 | €84,425 | +€47,855 | +131% |
| Trade receivables | 40 | €32,710 | €84,425 | +€51,715 | +158% |
| Other amounts receivable | 41 | €3,860 | - | -€3,860 | |
| Cash at bank and in hand | 54/58 | €72,794 | €58,361 | -€14,433 | -19.8% |
| Deferred charges and accrued income | 490/1 | €3,146 | €1,429 | -€1,717 | -54.6% |
| Total equity and liabilities | 10/49 | €138,306 | €160,686 | +€22,380 | +16.2% |
| Equity | 10/15 | €70,509 | €79,480 | +€8,971 | +12.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €9,302 | €9,302 | = | 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% |
| Tax-exempt reserves | 132 | €7,442 | €7,442 | = | 0.0% |
| Profit (loss) carried forward | 14 | €42,607 | €51,578 | +€8,971 | +21.1% |
| Amounts payable | 17/49 | €67,797 | €81,206 | +€13,409 | +19.8% |
| Amounts payable after more than one year | 17 | €25,683 | €20,683 | -€5,000 | -19.5% |
| Financial debts | 170/4 | €25,683 | €20,683 | -€5,000 | -19.5% |
| Amounts payable within one year | 42/48 | €42,114 | €60,523 | +€18,409 | +43.7% |
| Current portion of amounts payable after more than one year | 42 | €5,214 | €5,000 | -€214 | -4.1% |
| Trade debts | 44 | €6,657 | €18,158 | +€11,501 | +173% |
| Suppliers | 440/4 | €6,657 | €18,158 | +€11,501 | +173% |
| Taxes, remuneration and social security | 45 | €1,305 | €3,935 | +€2,629 | +201% |
| Taxes | 450/3 | €1,305 | €3,935 | +€2,629 | +201% |
| Other amounts payable | 47/48 | €28,938 | €33,430 | +€4,493 | +15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,574 | €12,705 | +€131 | +1.0% |
| Other operating charges | 640/8 | €857 | €967 | +€110 | +12.9% |
| Gross operating margin | 9900 | €19,396 | €27,609 | +€8,213 | +42.3% |
| Operating profit (loss) | 9901 | €5,965 | €13,937 | +€7,972 | +134% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €1,826 | €1,735 | -€91 | -5.0% |
| Recurring financial charges | 65 | €1,826 | €1,735 | -€91 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | €4,139 | €12,204 | +€8,066 | +195% |
| Income taxes | 67/77 | €1,164 | €3,233 | +€2,069 | +178% |
| Profit (loss) for the period | 9904 | €2,974 | €8,971 | +€5,997 | +202% |
| Profit (loss) for the period to be appropriated | 9905 | €2,974 | €8,971 | +€5,997 | +202% |
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 24 October 2026 via checked.be.