Z-CONNECT: 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.
Z-CONNECT
Largest movements
- Cash +€3,347
up €3,347 (+133.6%), from €2,506 to €5,853
mainly Tax, wage and social debts (+€3,361) and Net result for the year (+€2,336)
- Receivables within one year +€2,390
up €2,390 (+1.9%), from €124,599 to €126,988
of which Other amounts receivable: +€1,197
- Tax, wage and social debts +€3,361
up €3,361 (+48.2%), from €6,967 to €10,327
- Reserves +€2,336
up €2,336 (+9.4%), from €24,841 to €27,177
of which Distributable reserves: +€2,336
- Taxes -€1,520
down €1,520 (-38.8%), from €3,923 to €2,403
- Staff costs -€1,300
no longer reported in 2025 (was €1,300)
- Other operating charges -€977
down €977 (-94.1%), from €1,039 to €62
- Financial charges -€657
down €657 (-78.1%), from €842 to €185
- Gross operating margin -€414
down €414 (-7.7%), from €5,391 to €4,977
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 | €127,104 | €132,841 | +€5,737 | +4.5% |
| Current assets | 29/58 | €127,104 | €132,841 | +€5,737 | +4.5% |
| Amounts receivable within one year | 40/41 | €124,599 | €126,988 | +€2,390 | +1.9% |
| Trade receivables | 40 | €18,599 | €19,792 | +€1,193 | +6.4% |
| Other amounts receivable | 41 | €105,999 | €107,196 | +€1,197 | +1.1% |
| Cash at bank and in hand | 54/58 | €2,506 | €5,853 | +€3,347 | +133.6% |
| Total equity and liabilities | 10/49 | €127,104 | €132,841 | +€5,737 | +4.5% |
| Equity | 10/15 | €114,329 | €116,665 | +€2,336 | +2.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €24,841 | €27,177 | +€2,336 | +9.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €22,981 | €25,317 | +€2,336 | +10.2% |
| Profit (loss) carried forward | 14 | €83,287 | €83,287 | = | 0.0% |
| Amounts payable | 17/49 | €12,776 | €16,177 | +€3,401 | +26.6% |
| Amounts payable within one year | 42/48 | €12,776 | €16,177 | +€3,401 | +26.6% |
| Trade debts | 44 | €5,809 | €5,849 | +€40 | +0.7% |
| Suppliers | 440/4 | €5,809 | €5,849 | +€40 | +0.7% |
| Taxes, remuneration and social security | 45 | €6,967 | €10,327 | +€3,361 | +48.2% |
| Taxes | 450/3 | €6,967 | €10,327 | +€3,361 | +48.2% |
| Remuneration, social security and pensions | 62 | €1,300 | - | -€1,300 | |
| Other operating charges | 640/8 | €1,039 | €62 | -€977 | -94.1% |
| Gross operating margin | 9900 | €5,391 | €4,977 | -€414 | -7.7% |
| Operating profit (loss) | 9901 | €3,052 | €4,916 | +€1,864 | +61.1% |
| Financial income | 75/76B | €34 | €8 | -€26 | -75.7% |
| Recurring financial income | 75 | €34 | €8 | -€26 | -75.7% |
| Financial charges | 65/66B | €842 | €185 | -€657 | -78.1% |
| Recurring financial charges | 65 | €842 | €185 | -€657 | -78.1% |
| Profit (loss) for the period before taxes | 9903 | €2,244 | €4,739 | +€2,495 | +111.2% |
| Income taxes | 67/77 | €3,923 | €2,403 | -€1,520 | -38.8% |
| Profit (loss) for the period | 9904 | -€1,679 | €2,336 | +€4,015 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,679 | €2,336 | +€4,015 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.