LE ZENITH: what changed
Two fiscal 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.
LE ZENITH
Largest movements
- Cash -€16,544
down €16,544 (-29.1%), from €56,775 to €40,231
mainly Net result for the year (-€11,351) and Trade debts (-€6,061)
- Receivables within one year -€3,318
down €3,318 (-27.1%), from €12,237 to €8,919
of which Trade receivables: -€2,334
- Stocks and contracts +€2,739
up €2,739 (+227.7%), from €1,203 to €3,942
- Profit (loss) carried forward -€11,351
new in 2025: -€11,351
- Trade debts -€6,061
no longer reported in 2025 (was €6,061)
- Gross operating margin -€25,630
down €25,630, from €23,419 to -€2,211
- Staff costs +€1,475
new in 2025: €1,475
- Financial charges -€1,030
down €1,030 (-87.5%), from €1,176 to €147
of which Non-recurring financial charges: -€986
- Depreciation -€694
down €694 (-25.4%), from €2,728 to €2,034
- Other operating charges -€581
down €581 (-9.6%), from €6,066 to €5,485
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.
Cash bridge derived
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 | €76,961 | €59,342 | -€17,619 | -22.9% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €5,773 | €5,544 | -€229 | -4.0% |
| Tangible fixed assets | 22/27 | €5,604 | €5,376 | -€229 | -4.1% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €702 | €716 | +€14 | +2.0% |
| Other tangible fixed assets | 26 | €4,902 | €4,660 | -€242 | -4.9% |
| Financial fixed assets | 28 | €169 | €169 | = | 0.0% |
| Current assets | 29/58 | €71,188 | €53,798 | -€17,390 | -24.4% |
| Stocks and contracts in progress | 3 | €1,203 | €3,942 | +€2,739 | +227.7% |
| Stocks | 30/36 | €1,203 | €3,942 | +€2,739 | +227.7% |
| Amounts receivable within one year | 40/41 | €12,237 | €8,919 | -€3,318 | -27.1% |
| Trade receivables | 40 | €4,464 | €2,130 | -€2,334 | -52.3% |
| Other amounts receivable | 41 | €7,773 | €6,789 | -€985 | -12.7% |
| Cash at bank and in hand | 54/58 | €56,775 | €40,231 | -€16,544 | -29.1% |
| Deferred charges and accrued income | 490/1 | €973 | €706 | -€267 | -27.4% |
| Total equity and liabilities | 10/49 | €76,961 | €59,342 | -€17,619 | -22.9% |
| Equity | 10/15 | €63,299 | €51,948 | -€11,351 | -17.9% |
| Contributions | 10/11 | €20,405 | €20,405 | = | 0.0% |
| Reserves | 13 | €42,894 | €42,894 | = | 0.0% |
| Distributable reserves | 133 | €42,894 | €42,894 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€11,351 | -€11,351 | |
| Amounts payable | 17/49 | €13,662 | €7,394 | -€6,268 | -45.9% |
| Amounts payable within one year | 42/48 | €12,702 | €6,434 | -€6,268 | -49.3% |
| Trade debts | 44 | €6,061 | - | -€6,061 | |
| Suppliers | 440/4 | €6,061 | - | -€6,061 | |
| Taxes, remuneration and social security | 45 | €6,641 | €6,434 | -€207 | -3.1% |
| Taxes | 450/3 | €6,641 | €6,434 | -€207 | -3.1% |
| Accrued charges and deferred income | 492/3 | €960 | €960 | = | 0.0% |
| Non-recurring operating income | 76A | €7,208 | - | -€7,208 | |
| Remuneration, social security and pensions | 62 | - | €1,475 | +€1,475 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,728 | €2,034 | -€694 | -25.4% |
| Other operating charges | 640/8 | €6,066 | €5,485 | -€581 | -9.6% |
| Gross operating margin | 9900 | €23,419 | -€2,211 | -€25,630 | |
| Operating profit (loss) | 9901 | €14,624 | -€11,205 | -€25,829 | |
| Financial income | 75/76B | €305 | - | -€305 | |
| Recurring financial income | 75 | €5 | - | -€5 | |
| Non-recurring financial income | 76B | €300 | - | -€300 | |
| Financial charges | 65/66B | €1,176 | €147 | -€1,030 | -87.5% |
| Recurring financial charges | 65 | €191 | €147 | -€44 | -23.1% |
| Non-recurring financial charges | 66B | €986 | - | -€986 | |
| Profit (loss) for the period before taxes | 9903 | €13,753 | -€11,351 | -€25,104 | |
| Income taxes | 67/77 | €521 | - | -€521 | |
| Profit (loss) for the period | 9904 | €13,232 | -€11,351 | -€24,583 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,232 | -€11,351 | -€24,583 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.