C-ZAM: 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.
What changed
C-ZAM
NACE 69.201, Certified accountants and tax accountants
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€254,077
2024 · €214,205+€39,872
Equity
€20,479
2024 · €20,479
Cash
€27,214
2024 · €43,162-€15,948
Balance sheet total
€773,417
2024 · €795,277-€21,861
Largest movements
Assets
- Cash -€15,948
down €15,948 (-36.9%), from €43,162 to €27,214
mainly Contributions, distributions and other (-€254,077) and Trade debts (-€100,583)
Equity and liabilities
- Other debts +€103,992
up €103,992 (+48.2%), from €215,573 to €319,565
- Trade debts -€100,583
down €100,583 (-48.1%), from €208,929 to €108,346
- Debts after one year -€32,407
down €32,407 (-10.3%), from €315,571 to €283,164
Income statement
- Staff costs -€37,234
down €37,234 (-49.6%), from €75,123 to €37,889
- Write-downs -€9,983
no longer reported in 2025 (was €9,983)
- Gross operating margin -€6,966
down €6,966 (-2.0%), from €348,466 to €341,500
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.
Result 2024
€214,205
Gross operating margin
-€6,966
Staff costs
+€37,234
Depreciation
-€2,115
Write-downs
+€9,983
Other operating charges
+€1,913
Financial income
-€23
Financial charges
+€237
Taxes
-€391
Result 2025
€254,077
raises the resultlowers the result
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.
From operations
+€288,907
Investment
-€18,824
Financing
-€286,031
Cash 2024
€43,162
From operations (derived)
+€288,907
Net result for the year
+€254,077
Depreciation
+€20,410
Receivables within one year
+€5,927
Deferred charges and accrued income
-€1,600
Trade debts
-€100,583
Tax, wage and social debts
+€6,684
Other debts
+€103,992
Investment (derived)
-€18,824
Investment in fixed assets (net)
-€18,824
Financing
-€286,031
Debts after one year
-€32,407
Current portion of long-term debt
+€454
Contributions, distributions and other
-€254,077
Cash 2025
€27,214
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €795,277 | €773,417 | -€21,861 | -2.7% |
| Fixed assets | 21/28 | €437,091 | €435,505 | -€1,586 | -0.4% |
| Tangible fixed assets | 22/27 | €436,891 | €435,305 | -€1,586 | -0.4% |
| Land and buildings | 22 | €424,210 | €419,241 | -€4,968 | -1.2% |
| Plant, machinery and equipment | 23 | €2,241 | €1,738 | -€503 | -22.4% |
| Furniture and vehicles | 24 | €10,440 | €14,325 | +€3,885 | +37.2% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €358,186 | €337,912 | -€20,274 | -5.7% |
| Amounts receivable within one year | 40/41 | €311,106 | €305,179 | -€5,927 | -1.9% |
| Trade receivables | 40 | €301,633 | €304,936 | +€3,302 | +1.1% |
| Other amounts receivable | 41 | €9,472 | €243 | -€9,229 | -97.4% |
| Cash at bank and in hand | 54/58 | €43,162 | €27,214 | -€15,948 | -36.9% |
| Deferred charges and accrued income | 490/1 | €3,918 | €5,519 | +€1,600 | +40.8% |
| Total equity and liabilities | 10/49 | €795,277 | €773,417 | -€21,861 | -2.7% |
| Equity | 10/15 | €20,479 | €20,479 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | €19 | €19 | = | 0.0% |
| Amounts payable | 17/49 | €774,799 | €752,938 | -€21,861 | -2.8% |
| Amounts payable after more than one year | 17 | €315,571 | €283,164 | -€32,407 | -10.3% |
| Financial debts | 170/4 | €315,571 | €283,164 | -€32,407 | -10.3% |
| Amounts payable within one year | 42/48 | €459,228 | €469,774 | +€10,547 | +2.3% |
| Current portion of amounts payable after more than one year | 42 | €31,954 | €32,407 | +€454 | +1.4% |
| Trade debts | 44 | €208,929 | €108,346 | -€100,583 | -48.1% |
| Suppliers | 440/4 | €208,929 | €108,346 | -€100,583 | -48.1% |
| Taxes, remuneration and social security | 45 | €2,772 | €9,456 | +€6,684 | +241% |
| Taxes | 450/3 | €800 | €5,623 | +€4,823 | +603% |
| Remuneration and social security | 454/9 | €1,972 | €3,833 | +€1,861 | +94.4% |
| Other amounts payable | 47/48 | €215,573 | €319,565 | +€103,992 | +48.2% |
| Remuneration, social security and pensions | 62 | €75,123 | €37,889 | -€37,234 | -49.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,296 | €20,410 | +€2,115 | +11.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €9,983 | - | -€9,983 | |
| Other operating charges | 640/8 | €25,009 | €23,096 | -€1,913 | -7.7% |
| Gross operating margin | 9900 | €348,466 | €341,500 | -€6,966 | -2.0% |
| Operating profit (loss) | 9901 | €220,055 | €260,105 | +€40,049 | +18.2% |
| Financial income | 75/76B | €26 | €3 | -€23 | -89.9% |
| Recurring financial income | 75 | €26 | €3 | -€23 | -89.9% |
| Financial charges | 65/66B | €5,116 | €4,879 | -€237 | -4.6% |
| Recurring financial charges | 65 | €5,116 | €4,879 | -€237 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | €214,965 | €255,229 | +€40,263 | +18.7% |
| Income taxes | 67/77 | €761 | €1,152 | +€391 | +51.5% |
| Profit (loss) for the period | 9904 | €214,205 | €254,077 | +€39,872 | +18.6% |
| Profit (loss) for the period to be appropriated | 9905 | €214,205 | €254,077 | +€39,872 | +18.6% |
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 18 October 2026 via checked.be.