Z-CONSTRUCT: 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-CONSTRUCT
Largest movements
- Stocks and contracts +€118,000
up €118,000 (+28.0%), from €422,000 to €540,000
- Receivables within one year -€69,050
down €69,050 (-17.9%), from €385,957 to €316,907
of which Other amounts receivable: -€68,915
- Tangible fixed assets -€11,302
down €11,302 (-50.6%), from €22,347 to €11,044
of which Furniture and vehicles: -€10,670
- Short-term financial debts +€74,000
up €74,000 (+12.2%), from €604,597 to €678,597
- Other debts -€20,000
down €20,000 (-50.0%), from €40,000 to €20,000
- Trade debts +€16,185
up €16,185 (+46.0%), from €35,162 to €51,346
- Profit (loss) carried forward -€16,114
down €16,114 (-11.6%), from €138,317 to €122,203
- Tax, wage and social debts -€14,434
down €14,434 (-42.0%), from €34,384 to €19,950
of which Taxes: -€28,212
- Gross operating margin -€380,274
down €380,274 (-100.0%), from €380,296 to €22
- Write-downs -€330,850
no longer reported in 2025 (was €330,850)
- Financial charges -€10,714
down €10,714 (-70.1%), from €15,278 to €4,564
- Taxes -€5,793
no longer reported in 2025 (was €5,793)
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 | €864,865 | €904,535 | +€39,671 | +4.6% |
| Fixed assets | 21/28 | €27,797 | €16,494 | -€11,302 | -40.7% |
| Tangible fixed assets | 22/27 | €22,347 | €11,044 | -€11,302 | -50.6% |
| Plant, machinery and equipment | 23 | €1,262 | €630 | -€633 | -50.1% |
| Furniture and vehicles | 24 | €21,084 | €10,415 | -€10,670 | -50.6% |
| Financial fixed assets | 28 | €5,450 | €5,450 | = | 0.0% |
| Current assets | 29/58 | €837,068 | €888,041 | +€50,973 | +6.1% |
| Stocks and contracts in progress | 3 | €422,000 | €540,000 | +€118,000 | +28.0% |
| Contracts in progress | 37 | €422,000 | €540,000 | +€118,000 | +28.0% |
| Amounts receivable within one year | 40/41 | €385,957 | €316,907 | -€69,050 | -17.9% |
| Trade receivables | 40 | €1,792 | €1,657 | -€135 | -7.6% |
| Other amounts receivable | 41 | €384,165 | €315,250 | -€68,915 | -17.9% |
| Cash at bank and in hand | 54/58 | €26,791 | €29,074 | +€2,284 | +8.5% |
| Deferred charges and accrued income | 490/1 | €2,320 | €2,060 | -€261 | -11.2% |
| Total equity and liabilities | 10/49 | €864,865 | €904,535 | +€39,671 | +4.6% |
| Equity | 10/15 | €150,717 | €134,603 | -€16,114 | -10.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €138,317 | €122,203 | -€16,114 | -11.6% |
| Amounts payable | 17/49 | €714,148 | €769,932 | +€55,784 | +7.8% |
| Amounts payable within one year | 42/48 | €714,142 | €769,894 | +€55,751 | +7.8% |
| Financial debts | 43 | €604,597 | €678,597 | +€74,000 | +12.2% |
| Other loans | 439 | €604,597 | €678,597 | +€74,000 | +12.2% |
| Trade debts | 44 | €35,162 | €51,346 | +€16,185 | +46.0% |
| Suppliers | 440/4 | €35,162 | €51,346 | +€16,185 | +46.0% |
| Taxes, remuneration and social security | 45 | €34,384 | €19,950 | -€14,434 | -42.0% |
| Taxes | 450/3 | €34,384 | €6,171 | -€28,212 | -82.1% |
| Remuneration and social security | 454/9 | - | €13,779 | +€13,779 | |
| Other amounts payable | 47/48 | €40,000 | €20,000 | -€20,000 | -50.0% |
| Accrued charges and deferred income | 492/3 | €5 | €38 | +€33 | +640.9% |
| Remuneration, social security and pensions | 62 | €5 | - | -€5 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,990 | €11,302 | -€688 | -5.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €330,850 | - | -€330,850 | |
| Other operating charges | 640/8 | €590 | €584 | -€5 | -0.9% |
| Gross operating margin | 9900 | €380,296 | €22 | -€380,274 | -100.0% |
| Operating profit (loss) | 9901 | €36,862 | -€11,864 | -€48,726 | |
| Financial income | 75/76B | €0 | €315 | +€315 | +349744.4% |
| Recurring financial income | 75 | €0 | €315 | +€315 | +349744.4% |
| Financial charges | 65/66B | €15,278 | €4,564 | -€10,714 | -70.1% |
| Recurring financial charges | 65 | €15,278 | €4,564 | -€10,714 | -70.1% |
| Profit (loss) for the period before taxes | 9903 | €21,583 | -€16,114 | -€37,697 | |
| Income taxes | 67/77 | €5,793 | - | -€5,793 | |
| Profit (loss) for the period | 9904 | €15,790 | -€16,114 | -€31,904 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,790 | -€16,114 | -€31,904 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.