SZA: 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.
SZA
Largest movements
- Cash -€36,795
down €36,795 (-63.0%), from €58,418 to €21,623
mainly Contributions, distributions and other (-€50,000) and Investment in fixed assets (net) (-€11,849)
- Tangible fixed assets +€10,859
up €10,859 (+201.5%), from €5,390 to €16,249
of which Furniture and vehicles: +€10,859
- Intangible fixed assets -€5,000
down €5,000 (-48.5%), from €10,303 to €5,303
- Receivables within one year -€4,202
down €4,202 (-18.5%), from €22,750 to €18,548
of which Other amounts receivable: -€2,388
- Reserves -€34,000
down €34,000 (-14.3%), from €238,000 to €204,000
- Depreciation +€1,727
up €1,727 (+33.6%), from €5,135 to €6,863
- Gross operating margin -€1,641
down €1,641 (-5.1%), from €32,340 to €30,699
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 | €321,320 | €285,169 | -€36,151 | -11.3% |
| Fixed assets | 21/28 | €238,147 | €243,133 | +€4,986 | +2.1% |
| Intangible fixed assets | 21 | €10,303 | €5,303 | -€5,000 | -48.5% |
| Tangible fixed assets | 22/27 | €5,390 | €16,249 | +€10,859 | +201.5% |
| Furniture and vehicles | 24 | €2,540 | €13,399 | +€10,859 | +427.5% |
| Other tangible fixed assets | 26 | €2,850 | €2,850 | = | 0.0% |
| Financial fixed assets | 28 | €222,454 | €221,580 | -€873 | -0.4% |
| Current assets | 29/58 | €83,174 | €42,036 | -€41,138 | -49.5% |
| Amounts receivable within one year | 40/41 | €22,750 | €18,548 | -€4,202 | -18.5% |
| Trade receivables | 40 | €19,667 | €17,853 | -€1,814 | -9.2% |
| Other amounts receivable | 41 | €3,083 | €695 | -€2,388 | -77.5% |
| Cash at bank and in hand | 54/58 | €58,418 | €21,623 | -€36,795 | -63.0% |
| Deferred charges and accrued income | 490/1 | €2,006 | €1,865 | -€140 | -7.0% |
| Total equity and liabilities | 10/49 | €321,320 | €285,169 | -€36,151 | -11.3% |
| Equity | 10/15 | €256,629 | €223,298 | -€33,332 | -13.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €238,000 | €204,000 | -€34,000 | -14.3% |
| Distributable reserves | 133 | €238,000 | €204,000 | -€34,000 | -14.3% |
| Profit (loss) carried forward | 14 | €29 | €698 | +€668 | +2276.2% |
| Amounts payable | 17/49 | €64,691 | €61,871 | -€2,820 | -4.4% |
| Amounts payable within one year | 42/48 | €64,691 | €61,742 | -€2,948 | -4.6% |
| Financial debts | 43 | €649 | €0 | -€649 | -100.0% |
| Credit institutions | 430/8 | €649 | €0 | -€649 | -100.0% |
| Trade debts | 44 | €6,696 | €4,165 | -€2,531 | -37.8% |
| Suppliers | 440/4 | €6,696 | €4,165 | -€2,531 | -37.8% |
| Taxes, remuneration and social security | 45 | €7,346 | €7,578 | +€232 | +3.2% |
| Taxes | 450/3 | €5,386 | €5,598 | +€212 | +3.9% |
| Remuneration and social security | 454/9 | €1,960 | €1,980 | +€20 | +1.0% |
| Other amounts payable | 47/48 | €50,000 | €50,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €129 | +€129 | |
| Non-recurring operating income | 76A | €0 | €0 | +€0 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,135 | €6,863 | +€1,727 | +33.6% |
| Other operating charges | 640/8 | €676 | €897 | +€221 | +32.7% |
| Gross operating margin | 9900 | €32,340 | €30,699 | -€1,641 | -5.1% |
| Operating profit (loss) | 9901 | €26,528 | €22,939 | -€3,589 | -13.5% |
| Financial income | 75/76B | €244 | €283 | +€38 | +15.7% |
| Recurring financial income | 75 | €244 | €283 | +€38 | +15.7% |
| Financial charges | 65/66B | €785 | €535 | -€250 | -31.8% |
| Recurring financial charges | 65 | €785 | €535 | -€250 | -31.8% |
| Profit (loss) for the period before taxes | 9903 | €25,988 | €22,687 | -€3,301 | -12.7% |
| Income taxes | 67/77 | €6,164 | €6,019 | -€145 | -2.4% |
| Profit (loss) for the period | 9904 | €19,824 | €16,668 | -€3,155 | -15.9% |
| Profit (loss) for the period to be appropriated | 9905 | €19,824 | €16,668 | -€3,155 | -15.9% |
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 12 October 2026 via checked.be.