X-ZEN: what changed
X-ZEN
Largest movements
- Tangible fixed assets -€2,452
down €2,452 (-14.7%), from €16,631 to €14,179
- Receivables within one year -€907
no longer reported in 2025 (was €907)
- Profit (loss) carried forward -€3,798
down €3,798 (-8.9%), from -€42,669 to -€46,468
- Other debts +€819
up €819 (+1.4%), from €58,833 to €59,652
- Trade debts -€528
no longer reported in 2025 (was €528)
- Gross operating margin +€463
up €463 (+27.8%), from -€1,665 to -€1,202
- Other operating charges -€384
down €384 (-72.7%), from €528 to €144
- Financial charges -€93
no longer reported in 2025 (was €93)
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 | €17,692 | €14,184 | -€3,508 | -19.8% |
| Fixed assets | 21/28 | €16,631 | €14,179 | -€2,452 | -14.7% |
| Tangible fixed assets | 22/27 | €16,631 | €14,179 | -€2,452 | -14.7% |
| Plant, machinery and equipment | 23 | €16,631 | €14,179 | -€2,452 | -14.7% |
| Current assets | 29/58 | €1,061 | €5 | -€1,056 | -99.5% |
| Amounts receivable within one year | 40/41 | €907 | - | -€907 | |
| Other amounts receivable | 41 | €907 | - | -€907 | |
| Cash at bank and in hand | 54/58 | €154 | €5 | -€149 | -96.5% |
| Total equity and liabilities | 10/49 | €17,692 | €14,184 | -€3,508 | -19.8% |
| Equity | 10/15 | -€41,669 | -€45,468 | -€3,798 | -9.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€42,669 | -€46,468 | -€3,798 | -8.9% |
| Amounts payable | 17/49 | €59,361 | €59,652 | +€291 | +0.5% |
| Amounts payable within one year | 42/48 | €59,361 | €59,652 | +€291 | +0.5% |
| Trade debts | 44 | €528 | - | -€528 | |
| Suppliers | 440/4 | €528 | - | -€528 | |
| Other amounts payable | 47/48 | €58,833 | €59,652 | +€819 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,452 | €2,452 | -€0 | 0.0% |
| Other operating charges | 640/8 | €528 | €144 | -€384 | -72.7% |
| Gross operating margin | 9900 | -€1,665 | -€1,202 | +€463 | +27.8% |
| Operating profit (loss) | 9901 | -€4,645 | -€3,798 | +€846 | +18.2% |
| Financial charges | 65/66B | €93 | - | -€93 | |
| Recurring financial charges | 65 | €93 | - | -€93 | |
| Profit (loss) for the period before taxes | 9903 | -€4,738 | -€3,798 | +€939 | +19.8% |
| Profit (loss) for the period | 9904 | -€4,738 | -€3,798 | +€939 | +19.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,738 | -€3,798 | +€939 | +19.8% |
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 1 November 2026 via checked.be.