MOTO ZENITH: 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.
MOTO ZENITH
Largest movements
- Stocks and contracts +€155,180
up €155,180 (+27.6%), from €562,407 to €717,588
- Receivables within one year -€23,582
down €23,582 (-78.1%), from €30,213 to €6,631
of which Trade receivables: -€22,644
- Tangible fixed assets -€12,908
down €12,908 (-15.6%), from €82,499 to €69,591
- Reserves +€75,065
up €75,065 (+34.8%), from €215,750 to €290,816
of which Distributable reserves: +€75,065
- Trade debts +€40,585
up €40,585 (+15.9%), from €255,214 to €295,799
- Short-term financial debts +€34,927
up €34,927 (+32.7%), from €106,700 to €141,627
- Profit (loss) carried forward -€29,749
down €29,749 (-100%), from €29,749 to €0
- Debts after one year -€19,627
down €19,627 (-83.6%), from €23,485 to €3,857
- Gross operating margin +€20,917
up €20,917 (+27.4%), from €76,310 to €97,227
- Staff costs -€10,382
no longer reported in 2025 (was €10,382)
- Depreciation +€3,909
up €3,909 (+29.1%), from €13,414 to €17,324
- Financial charges +€3,060
up €3,060 (+24.9%), from €12,304 to €15,365
- Taxes +€2,575
up €2,575 (+23.6%), from €10,911 to €13,485
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.
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 | €690,210 | €806,694 | +€116,483 | +16.9% |
| Fixed assets | 21/28 | €87,021 | €72,446 | -€14,575 | -16.7% |
| Intangible fixed assets | 21 | €3,770 | €2,103 | -€1,667 | -44.2% |
| Tangible fixed assets | 22/27 | €82,499 | €69,591 | -€12,908 | -15.6% |
| Land and buildings | 22 | €1,485 | €945 | -€540 | -36.4% |
| Plant, machinery and equipment | 23 | €43,837 | €37,426 | -€6,411 | -14.6% |
| Furniture and vehicles | 24 | €16,155 | €13,162 | -€2,993 | -18.5% |
| Other tangible fixed assets | 26 | €21,022 | €18,058 | -€2,965 | -14.1% |
| Financial fixed assets | 28 | €753 | €753 | = | 0.0% |
| Current assets | 29/58 | €603,190 | €734,248 | +€131,058 | +21.7% |
| Stocks and contracts in progress | 3 | €562,407 | €717,588 | +€155,180 | +27.6% |
| Stocks | 30/36 | €562,407 | €717,588 | +€155,180 | +27.6% |
| Amounts receivable within one year | 40/41 | €30,213 | €6,631 | -€23,582 | -78.1% |
| Trade receivables | 40 | €27,819 | €5,176 | -€22,644 | -81.4% |
| Other amounts receivable | 41 | €2,394 | €1,456 | -€938 | -39.2% |
| Cash at bank and in hand | 54/58 | €8,931 | €7,356 | -€1,575 | -17.6% |
| Deferred charges and accrued income | 490/1 | €1,638 | €2,673 | +€1,035 | +63.2% |
| Total equity and liabilities | 10/49 | €690,210 | €806,694 | +€116,483 | +16.9% |
| Equity | 10/15 | €265,959 | €311,276 | +€45,316 | +17.0% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €215,750 | €290,816 | +€75,065 | +34.8% |
| Tax-exempt reserves | 132 | €16,000 | €16,000 | = | 0.0% |
| Distributable reserves | 133 | €199,750 | €274,816 | +€75,065 | +37.6% |
| Profit (loss) carried forward | 14 | €29,749 | €0 | -€29,749 | -100% |
| Amounts payable | 17/49 | €424,251 | €495,418 | +€71,167 | +16.8% |
| Amounts payable after more than one year | 17 | €23,485 | €3,857 | -€19,627 | -83.6% |
| Financial debts | 170/4 | €23,485 | €3,857 | -€19,627 | -83.6% |
| Amounts payable within one year | 42/48 | €400,766 | €491,561 | +€90,794 | +22.7% |
| Current portion of amounts payable after more than one year | 42 | €18,955 | €19,627 | +€672 | +3.5% |
| Financial debts | 43 | €106,700 | €141,627 | +€34,927 | +32.7% |
| Credit institutions | 430/8 | €106,700 | €141,627 | +€34,927 | +32.7% |
| Trade debts | 44 | €255,214 | €295,799 | +€40,585 | +15.9% |
| Suppliers | 440/4 | €255,214 | €295,799 | +€40,585 | +15.9% |
| Advances received on contracts in progress | 46 | €1,505 | €1,505 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €18,392 | €33,002 | +€14,609 | +79.4% |
| Taxes | 450/3 | €15,885 | €31,302 | +€15,417 | +97.1% |
| Remuneration and social security | 454/9 | €2,507 | €1,700 | -€807 | -32.2% |
| Remuneration, social security and pensions | 62 | €10,382 | - | -€10,382 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,414 | €17,324 | +€3,909 | +29.1% |
| Other operating charges | 640/8 | €1,665 | €3,745 | +€2,080 | +125% |
| Non-recurring operating charges | 66A | - | €2,000 | +€2,000 | |
| Gross operating margin | 9900 | €76,310 | €97,227 | +€20,917 | +27.4% |
| Operating profit (loss) | 9901 | €50,848 | €74,158 | +€23,310 | +45.8% |
| Financial income | 75/76B | €69 | €8 | -€61 | -88.2% |
| Recurring financial income | 75 | €69 | €8 | -€61 | -88.2% |
| Financial charges | 65/66B | €12,304 | €15,365 | +€3,060 | +24.9% |
| Recurring financial charges | 65 | €12,304 | €15,365 | +€3,060 | +24.9% |
| Profit (loss) for the period before taxes | 9903 | €38,613 | €58,802 | +€20,189 | +52.3% |
| Income taxes | 67/77 | €10,911 | €13,485 | +€2,575 | +23.6% |
| Profit (loss) for the period | 9904 | €27,702 | €45,316 | +€17,614 | +63.6% |
| Profit (loss) for the period to be appropriated | 9905 | €27,702 | €45,316 | +€17,614 | +63.6% |
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 17 October 2026 via checked.be.