Z & C: what changed
Two fiscal 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.
Z & C
Largest movements
- Receivables within one year +€7,100
up €7,100 (+49.4%), from €14,385 to €21,485
of which Other amounts receivable: +€7,100
- Tangible fixed assets -€3,904
down €3,904 (-20.1%), from €19,457 to €15,553
of which Other tangible fixed assets: -€2,825
- Deferred charges and accrued income +€1,586
up €1,586 (+121.3%), from €1,307 to €2,893
- Other debts +€4,303
up €4,303 (+104.0%), from €4,137 to €8,440
- Trade debts +€3,494
up €3,494 (+225.0%), from €1,552 to €5,046
- Tax, wage and social debts -€3,032
down €3,032 (-36.4%), from €8,320 to €5,288
- Gross operating margin -€10,611
down €10,611 (-43.4%), from €24,424 to €13,813
- Taxes -€2,182
down €2,182 (-37.9%), from €5,759 to €3,578
- Depreciation +€1,272
up €1,272 (+48.3%), from €2,632 to €3,904
- Financial charges -€576
down €576 (-31.2%), from €1,845 to €1,269
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 | €51,528 | €56,286 | +€4,759 | +9.2% |
| Fixed assets | 21/28 | €19,550 | €15,645 | -€3,904 | -20.0% |
| Tangible fixed assets | 22/27 | €19,457 | €15,553 | -€3,904 | -20.1% |
| Furniture and vehicles | 24 | €1,211 | €132 | -€1,079 | -89.1% |
| Other tangible fixed assets | 26 | €18,246 | €15,421 | -€2,825 | -15.5% |
| Financial fixed assets | 28 | €93 | €93 | = | 0.0% |
| Current assets | 29/58 | €31,978 | €40,641 | +€8,663 | +27.1% |
| Amounts receivable after more than one year | 29 | €6,000 | €6,000 | = | 0.0% |
| Other amounts receivable | 291 | €6,000 | €6,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €14,385 | €21,485 | +€7,100 | +49.4% |
| Trade receivables | 40 | €5,885 | €5,885 | = | 0.0% |
| Other amounts receivable | 41 | €8,500 | €15,600 | +€7,100 | +83.5% |
| Cash at bank and in hand | 54/58 | €10,286 | €10,263 | -€23 | -0.2% |
| Deferred charges and accrued income | 490/1 | €1,307 | €2,893 | +€1,586 | +121.3% |
| Total equity and liabilities | 10/49 | €51,528 | €56,286 | +€4,759 | +9.2% |
| Equity | 10/15 | €32,505 | €32,554 | +€49 | +0.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €200 | €200 | = | 0.0% |
| Distributable reserves | 133 | €200 | €200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,705 | €13,754 | +€49 | +0.4% |
| Amounts payable | 17/49 | €19,023 | €23,733 | +€4,710 | +24.8% |
| Amounts payable within one year | 42/48 | €19,023 | €23,733 | +€4,710 | +24.8% |
| Current portion of amounts payable after more than one year | 42 | €5,013 | €4,958 | -€55 | -1.1% |
| Trade debts | 44 | €1,552 | €5,046 | +€3,494 | +225.0% |
| Suppliers | 440/4 | €1,552 | €5,046 | +€3,494 | +225.0% |
| Taxes, remuneration and social security | 45 | €8,320 | €5,288 | -€3,032 | -36.4% |
| Taxes | 450/3 | €8,320 | €5,288 | -€3,032 | -36.4% |
| Other amounts payable | 47/48 | €4,137 | €8,440 | +€4,303 | +104.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,632 | €3,904 | +€1,272 | +48.3% |
| Other operating charges | 640/8 | €1,365 | €1,180 | -€186 | -13.6% |
| Gross operating margin | 9900 | €24,424 | €13,813 | -€10,611 | -43.4% |
| Operating profit (loss) | 9901 | €20,427 | €8,729 | -€11,698 | -57.3% |
| Financial income | 75/76B | €620 | €667 | +€47 | +7.6% |
| Recurring financial income | 75 | €620 | €667 | +€47 | +7.6% |
| Financial charges | 65/66B | €1,845 | €1,269 | -€576 | -31.2% |
| Recurring financial charges | 65 | €1,845 | €1,269 | -€576 | -31.2% |
| Profit (loss) for the period before taxes | 9903 | €19,202 | €8,127 | -€11,075 | -57.7% |
| Income taxes | 67/77 | €5,759 | €3,578 | -€2,182 | -37.9% |
| Profit (loss) for the period | 9904 | €13,442 | €4,549 | -€8,893 | -66.2% |
| Profit (loss) for the period to be appropriated | 9905 | €13,442 | €4,549 | -€8,893 | -66.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.