T.Z.A.: what changed
T.Z.A.
Largest movements
- Deferred charges and accrued income +€8,700
up €8,700 (+31.0%), from €28,100 to €36,800
- Tangible fixed assets -€8,224
down €8,224 (-72.3%), from €11,368 to €3,144
of which Furniture and vehicles: -€7,981
- Receivables within one year -€4,694
down €4,694 (-1.5%), from €307,581 to €302,887
of which Other amounts receivable: -€4,694
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€4,463
up €4,463 (+164%), from €2,721 to €7,184
- Other operating charges -€990
no longer reported in 2025 (was €990)
- Depreciation +€122
up €122 (+1.5%), from €8,103 to €8,224
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
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €349,374 | €345,493 | -€3,881 | -1.1% |
| Fixed assets | 21/28 | €11,368 | €3,144 | -€8,224 | -72.3% |
| Tangible fixed assets | 22/27 | €11,368 | €3,144 | -€8,224 | -72.3% |
| Plant, machinery and equipment | 23 | €608 | €365 | -€243 | -40.0% |
| Furniture and vehicles | 24 | €10,761 | €2,780 | -€7,981 | -74.2% |
| Current assets | 29/58 | €338,006 | €342,349 | +€4,344 | +1.3% |
| Amounts receivable within one year | 40/41 | €307,581 | €302,887 | -€4,694 | -1.5% |
| Trade receivables | 40 | €17,119 | €17,119 | = | 0.0% |
| Other amounts receivable | 41 | €290,463 | €285,769 | -€4,694 | -1.6% |
| Cash at bank and in hand | 54/58 | €2,325 | €2,662 | +€338 | +14.5% |
| Deferred charges and accrued income | 490/1 | €28,100 | €36,800 | +€8,700 | +31.0% |
| Total equity and liabilities | 10/49 | €349,374 | €345,493 | -€3,881 | -1.1% |
| Equity | 10/15 | €323,827 | €322,630 | -€1,197 | -0.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €315,627 | €314,430 | -€1,197 | -0.4% |
| Amounts payable | 17/49 | €25,547 | €22,864 | -€2,683 | -10.5% |
| Amounts payable within one year | 42/48 | €25,547 | €22,864 | -€2,683 | -10.5% |
| Current portion of amounts payable after more than one year | 42 | €2,683 | - | -€2,683 | |
| Trade debts | 44 | €3 | €3 | = | 0.0% |
| Suppliers | 440/4 | €3 | €3 | = | 0.0% |
| Advances received on contracts in progress | 46 | €1,500 | €1,500 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €17,297 | €17,297 | = | 0.0% |
| Taxes | 450/3 | €17,297 | €17,297 | = | 0.0% |
| Other amounts payable | 47/48 | €4,064 | €4,064 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,103 | €8,224 | +€122 | +1.5% |
| Other operating charges | 640/8 | €990 | - | -€990 | |
| Gross operating margin | 9900 | €2,721 | €7,184 | +€4,463 | +164% |
| Operating profit (loss) | 9901 | -€6,371 | -€1,040 | +€5,331 | +83.7% |
| Financial charges | 65/66B | €101 | €157 | +€56 | +55.6% |
| Recurring financial charges | 65 | €101 | €157 | +€56 | +55.6% |
| Profit (loss) for the period before taxes | 9903 | -€6,473 | -€1,197 | +€5,275 | +81.5% |
| Profit (loss) for the period | 9904 | -€6,473 | -€1,197 | +€5,275 | +81.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,473 | -€1,197 | +€5,275 | +81.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.