S.Z.M: what changed
S.Z.M
Largest movements
- Receivables within one year +€58,085
up €58,085 (+48.0%), from €121,020 to €179,105
of which Other amounts receivable: +€62,066
- Tangible fixed assets +€56,911
new in 2025: €56,911
of which Leasing and similar rights: +€55,592
- Deferred charges and accrued income -€11,736
no longer reported in 2025 (was €11,736)
- Trade debts +€43,117
up €43,117 (+55.4%), from €77,767 to €120,884
- Debts after one year +€30,120
new in 2025: €30,120
- Advances received -€29,353
no longer reported in 2025 (was €29,353)
- Tax, wage and social debts +€23,644
up €23,644 (+134%), from €17,654 to €41,298
- Reserves +€21,271
up €21,271 (+738%), from €2,882 to €24,154
- Gross operating margin +€34,212
up €34,212 (+160%), from €21,324 to €55,536
- Depreciation +€14,179
new in 2025: €14,179
- Other operating charges -€11,272
down €11,272 (-48.1%), from €23,448 to €12,176
- Taxes +€3,751
up €3,751 (+112%), from €3,356 to €7,107
- Financial charges +€809
up €809 (+116%), from €695 to €1,504
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts. So the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €132,756 | €236,016 | +€103,259 | +77.8% |
| Fixed assets | 21/28 | - | €56,911 | +€56,911 | |
| Tangible fixed assets | 22/27 | - | €56,911 | +€56,911 | |
| Plant, machinery and equipment | 23 | - | €1,319 | +€1,319 | |
| Leasing and similar rights | 25 | - | €55,592 | +€55,592 | |
| Current assets | 29/58 | €132,756 | €179,105 | +€46,349 | +34.9% |
| Amounts receivable within one year | 40/41 | €121,020 | €179,105 | +€58,085 | +48.0% |
| Trade receivables | 40 | €20,836 | €16,855 | -€3,981 | -19.1% |
| Other amounts receivable | 41 | €100,184 | €162,250 | +€62,066 | +62.0% |
| Deferred charges and accrued income | 490/1 | €11,736 | - | -€11,736 | |
| Total equity and liabilities | 10/49 | €132,756 | €236,016 | +€103,259 | +77.8% |
| Equity | 10/15 | €6,882 | €28,154 | +€21,271 | +309% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €2,882 | €24,154 | +€21,271 | +738% |
| Distributable reserves | 133 | €2,882 | €24,154 | +€21,271 | +738% |
| Amounts payable | 17/49 | €125,874 | €207,862 | +€81,988 | +65.1% |
| Amounts payable after more than one year | 17 | - | €30,120 | +€30,120 | |
| Financial debts | 170/4 | - | €30,120 | +€30,120 | |
| Amounts payable within one year | 42/48 | €125,274 | €177,742 | +€52,468 | +41.9% |
| Current portion of amounts payable after more than one year | 42 | - | €15,060 | +€15,060 | |
| Financial debts | 43 | €500 | €500 | = | 0.0% |
| Credit institutions | 430/8 | €500 | €500 | = | 0.0% |
| Trade debts | 44 | €77,767 | €120,884 | +€43,117 | +55.4% |
| Suppliers | 440/4 | €77,767 | €120,884 | +€43,117 | +55.4% |
| Advances received on contracts in progress | 46 | €29,353 | - | -€29,353 | |
| Taxes, remuneration and social security | 45 | €17,654 | €41,298 | +€23,644 | +134% |
| Taxes | 450/3 | €17,654 | €41,298 | +€23,644 | +134% |
| Accrued charges and deferred income | 492/3 | €600 | - | -€600 | |
| Non-recurring operating income | 76A | €25,999 | €2,500 | -€23,499 | -90.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €14,179 | +€14,179 | |
| Other operating charges | 640/8 | €23,448 | €12,176 | -€11,272 | -48.1% |
| Gross operating margin | 9900 | €21,324 | €55,536 | +€34,212 | +160% |
| Operating profit (loss) | 9901 | -€2,123 | €29,181 | +€31,304 | |
| Financial income | 75/76B | €0 | €702 | +€702 | +7,015,900% |
| Recurring financial income | 75 | €0 | €702 | +€702 | +7,015,900% |
| Financial charges | 65/66B | €695 | €1,504 | +€809 | +116% |
| Recurring financial charges | 65 | €695 | €1,504 | +€809 | +116% |
| Profit (loss) for the period before taxes | 9903 | -€2,818 | €28,378 | +€31,197 | |
| Income taxes | 67/77 | €3,356 | €7,107 | +€3,751 | +112% |
| Profit (loss) for the period | 9904 | -€6,174 | €21,271 | +€27,446 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,174 | €21,271 | +€27,446 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.