Hayden Zoé: 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.
Hayden Zoé
Largest movements
- Cash -€1,770
down €1,770 (-6.4%), from €27,452 to €25,682
mainly Other debts (-€22,536) and Trade debts (-€2,907)
- Receivables within one year -€944
down €944 (-47.3%), from €1,994 to €1,050
of which Other amounts receivable: -€601
- Stocks and contracts +€746
up €746 (+9.8%), from €7,602 to €8,348
- Profit (loss) carried forward +€24,532
up €24,532 (+63.6%), from -€38,554 to -€14,022
- Other debts -€22,536
down €22,536 (-53.1%), from €42,423 to €19,887
- Trade debts -€2,907
down €2,907 (-34.0%), from €8,558 to €5,651
- Tax, wage and social debts -€1,291
down €1,291 (-26.3%), from €4,918 to €3,627
of which Taxes: -€1,419
- Staff costs -€9,190
down €9,190 (-14.7%), from €62,390 to €53,200
- Gross operating margin -€7,811
down €7,811 (-8.6%), from €90,473 to €82,662
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 | €38,994 | €37,078 | -€1,916 | -4.9% |
| Fixed assets | 21/28 | €1,181 | €1,404 | +€223 | +18.9% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €1,181 | €1,404 | +€223 | +18.9% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €1,181 | €1,404 | +€223 | +18.9% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Current assets | 29/58 | €37,813 | €35,674 | -€2,139 | -5.7% |
| Stocks and contracts in progress | 3 | €7,602 | €8,348 | +€746 | +9.8% |
| Stocks | 30/36 | €7,602 | €8,348 | +€746 | +9.8% |
| Amounts receivable within one year | 40/41 | €1,994 | €1,050 | -€944 | -47.3% |
| Trade receivables | 40 | €1,393 | €1,050 | -€343 | -24.6% |
| Other amounts receivable | 41 | €601 | €0 | -€601 | -100% |
| Cash at bank and in hand | 54/58 | €27,452 | €25,682 | -€1,770 | -6.4% |
| Deferred charges and accrued income | 490/1 | €765 | €594 | -€171 | -22.4% |
| Total equity and liabilities | 10/49 | €38,994 | €37,078 | -€1,916 | -4.9% |
| Equity | 10/15 | -€18,094 | €6,438 | +€24,532 | |
| 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 | -€38,554 | -€14,022 | +€24,532 | +63.6% |
| Amounts payable | 17/49 | €57,088 | €30,640 | -€26,448 | -46.3% |
| Amounts payable within one year | 42/48 | €57,088 | €30,640 | -€26,448 | -46.3% |
| Current portion of amounts payable after more than one year | 42 | €1,189 | €1,475 | +€286 | +24.1% |
| Trade debts | 44 | €8,558 | €5,651 | -€2,907 | -34.0% |
| Suppliers | 440/4 | €8,558 | €5,651 | -€2,907 | -34.0% |
| Taxes, remuneration and social security | 45 | €4,918 | €3,627 | -€1,291 | -26.3% |
| Taxes | 450/3 | €2,903 | €1,484 | -€1,419 | -48.9% |
| Remuneration and social security | 454/9 | €2,015 | €2,143 | +€128 | +6.4% |
| Other amounts payable | 47/48 | €42,423 | €19,887 | -€22,536 | -53.1% |
| Remuneration, social security and pensions | 62 | €62,390 | €53,200 | -€9,190 | -14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,383 | €817 | -€566 | -40.9% |
| Other operating charges | 640/8 | €780 | €892 | +€112 | +14.4% |
| Non-recurring operating charges | 66A | €58 | - | -€58 | |
| Gross operating margin | 9900 | €90,473 | €82,662 | -€7,811 | -8.6% |
| Operating profit (loss) | 9901 | €25,862 | €27,753 | +€1,891 | +7.3% |
| Financial income | 75/76B | €88 | €33 | -€55 | -62.5% |
| Recurring financial income | 75 | €88 | €33 | -€55 | -62.5% |
| Financial charges | 65/66B | €3,777 | €2,999 | -€778 | -20.6% |
| Recurring financial charges | 65 | €3,777 | €2,999 | -€778 | -20.6% |
| Profit (loss) for the period before taxes | 9903 | €22,173 | €24,787 | +€2,614 | +11.8% |
| Income taxes | 67/77 | €255 | €255 | = | 0.0% |
| Profit (loss) for the period | 9904 | €21,918 | €24,532 | +€2,614 | +11.9% |
| Profit (loss) for the period to be appropriated | 9905 | €21,918 | €24,532 | +€2,614 | +11.9% |
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 31 October 2026 via checked.be.