B.Z.E.T.: 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.
B.Z.E.T.
Largest movements
- Receivables within one year +€78,795
up €78,795 (+477%), from €16,517 to €95,312
of which Trade receivables: +€60,372
- Cash -€10,434
down €10,434 (-20.0%), from €52,180 to €41,746
mainly Receivables within one year (-€78,795) and Contributions, distributions and other (-€15,000)
- Tangible fixed assets +€5,004
new in 2025: €5,004
of which Plant, machinery and equipment: +€3,817
- Reserves +€64,877
up €64,877 (+210%), from €30,851 to €95,728
- Other debts +€9,605
up €9,605 (+178%), from €5,395 to €15,000
- Trade debts -€3,012
down €3,012 (-57.4%), from €5,248 to €2,236
- Accrued charges and deferred income +€2,500
new in 2025: €2,500
- Gross operating margin +€62,843
up €62,843 (+144%), from €43,735 to €106,578
- Taxes +€12,786
up €12,786 (+104%), from €12,242 to €25,028
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 | €68,696 | €143,492 | +€74,796 | +109% |
| Fixed assets | 21/28 | - | €5,004 | +€5,004 | |
| Tangible fixed assets | 22/27 | - | €5,004 | +€5,004 | |
| Plant, machinery and equipment | 23 | - | €3,817 | +€3,817 | |
| Furniture and vehicles | 24 | - | €1,187 | +€1,187 | |
| Current assets | 29/58 | €68,696 | €138,488 | +€69,792 | +102% |
| Amounts receivable within one year | 40/41 | €16,517 | €95,312 | +€78,795 | +477% |
| Trade receivables | 40 | €16,517 | €76,888 | +€60,372 | +366% |
| Other amounts receivable | 41 | - | €18,424 | +€18,424 | |
| Cash at bank and in hand | 54/58 | €52,180 | €41,746 | -€10,434 | -20.0% |
| Deferred charges and accrued income | 490/1 | - | €1,430 | +€1,430 | |
| Total equity and liabilities | 10/49 | €68,696 | €143,492 | +€74,796 | +109% |
| Equity | 10/15 | €33,851 | €98,728 | +€64,877 | +192% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €30,851 | €95,728 | +€64,877 | +210% |
| Distributable reserves | 133 | €30,851 | €95,728 | +€64,877 | +210% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €34,845 | €44,764 | +€9,919 | +28.5% |
| Amounts payable within one year | 42/48 | €34,845 | €42,264 | +€7,419 | +21.3% |
| Trade debts | 44 | €5,248 | €2,236 | -€3,012 | -57.4% |
| Suppliers | 440/4 | €5,248 | €2,236 | -€3,012 | -57.4% |
| Taxes, remuneration and social security | 45 | €24,203 | €25,028 | +€825 | +3.4% |
| Taxes | 450/3 | €24,203 | €25,028 | +€825 | +3.4% |
| Other amounts payable | 47/48 | €5,395 | €15,000 | +€9,605 | +178% |
| Accrued charges and deferred income | 492/3 | - | €2,500 | +€2,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €457 | +€457 | |
| Other operating charges | 640/8 | €643 | €995 | +€353 | +54.8% |
| Gross operating margin | 9900 | €43,735 | €106,578 | +€62,843 | +144% |
| Operating profit (loss) | 9901 | €43,093 | €105,125 | +€62,032 | +144% |
| Financial income | 75/76B | - | €266 | +€266 | |
| Recurring financial income | 75 | - | €266 | +€266 | |
| Financial charges | 65/66B | - | €486 | +€486 | |
| Recurring financial charges | 65 | - | €486 | +€486 | |
| Profit (loss) for the period before taxes | 9903 | €43,093 | €104,905 | +€61,812 | +143% |
| Income taxes | 67/77 | €12,242 | €25,028 | +€12,786 | +104% |
| Profit (loss) for the period | 9904 | €30,851 | €79,877 | +€49,026 | +159% |
| Profit (loss) for the period to be appropriated | 9905 | €30,851 | €79,877 | +€49,026 | +159% |
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.