Z-ENGINEERING: 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-ENGINEERING
Largest movements
- Receivables within one year +€11,746
up €11,746 (+8.0%), from €147,564 to €159,309
of which Other amounts receivable: +€6,524
- Tangible fixed assets +€10,130
up €10,130 (+1536.8%), from €659 to €10,789
of which Leasing and similar rights: +€8,390
- Cash +€10,016
up €10,016 (+457.1%), from €2,191 to €12,207
mainly Net result for the year (+€52,823) and Trade debts (+€10,995)
- Deferred charges and accrued income -€1,950
down €1,950 (-17.8%), from €10,935 to €8,985
- Reserves +€148,501
new in 2025: €148,501
- Profit (loss) carried forward -€95,677
no longer reported in 2025 (was €95,677)
- Other debts -€23,000
no longer reported in 2025 (was €23,000)
- Tax, wage and social debts -€11,642
down €11,642 (-27.8%), from €41,912 to €30,270
of which Taxes: -€6,332
- Trade debts +€10,995
up €10,995 (+1763.3%), from €624 to €11,619
- Gross operating margin +€12,211
up €12,211 (+19.6%), from €62,297 to €74,508
- Taxes +€3,002
up €3,002 (+23.1%), from €13,000 to €16,002
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 | €162,113 | €191,290 | +€29,177 | +18.0% |
| Formation expenses | 20 | €264 | - | -€264 | |
| Fixed assets | 21/28 | €1,159 | €10,789 | +€9,630 | +830.8% |
| Tangible fixed assets | 22/27 | €659 | €10,789 | +€10,130 | +1536.8% |
| Plant, machinery and equipment | 23 | €659 | €2,399 | +€1,740 | +264.0% |
| Leasing and similar rights | 25 | - | €8,390 | +€8,390 | |
| Financial fixed assets | 28 | €500 | - | -€500 | |
| Current assets | 29/58 | €160,690 | €180,501 | +€19,811 | +12.3% |
| Amounts receivable within one year | 40/41 | €147,564 | €159,309 | +€11,746 | +8.0% |
| Trade receivables | 40 | €35,909 | €41,130 | +€5,222 | +14.5% |
| Other amounts receivable | 41 | €111,655 | €118,179 | +€6,524 | +5.8% |
| Cash at bank and in hand | 54/58 | €2,191 | €12,207 | +€10,016 | +457.1% |
| Deferred charges and accrued income | 490/1 | €10,935 | €8,985 | -€1,950 | -17.8% |
| Total equity and liabilities | 10/49 | €162,113 | €191,290 | +€29,177 | +18.0% |
| Equity | 10/15 | €96,577 | €149,401 | +€52,823 | +54.7% |
| Contributions | 10/11 | €900 | €900 | = | 0.0% |
| Reserves | 13 | - | €148,501 | +€148,501 | |
| Distributable reserves | 133 | - | €148,501 | +€148,501 | |
| Profit (loss) carried forward | 14 | €95,677 | - | -€95,677 | |
| Amounts payable | 17/49 | €65,536 | €41,889 | -€23,647 | -36.1% |
| Amounts payable within one year | 42/48 | €65,536 | €41,889 | -€23,647 | -36.1% |
| Trade debts | 44 | €624 | €11,619 | +€10,995 | +1763.3% |
| Suppliers | 440/4 | €624 | €11,619 | +€10,995 | +1763.3% |
| Taxes, remuneration and social security | 45 | €41,912 | €30,270 | -€11,642 | -27.8% |
| Taxes | 450/3 | €36,602 | €30,270 | -€6,332 | -17.3% |
| Remuneration and social security | 454/9 | €5,310 | - | -€5,310 | |
| Other amounts payable | 47/48 | €23,000 | - | -€23,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,389 | €2,105 | +€716 | +51.6% |
| Other operating charges | 640/8 | €488 | €512 | +€24 | +4.9% |
| Gross operating margin | 9900 | €62,297 | €74,508 | +€12,211 | +19.6% |
| Operating profit (loss) | 9901 | €60,420 | €71,891 | +€11,471 | +19.0% |
| Financial income | 75/76B | €2 | €1 | -€1 | -57.2% |
| Recurring financial income | 75 | €2 | €1 | -€1 | -57.2% |
| Financial charges | 65/66B | €3,074 | €3,067 | -€7 | -0.2% |
| Recurring financial charges | 65 | €3,074 | €3,067 | -€7 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | €57,348 | €68,825 | +€11,476 | +20.0% |
| Income taxes | 67/77 | €13,000 | €16,002 | +€3,002 | +23.1% |
| Profit (loss) for the period | 9904 | €44,348 | €52,823 | +€8,475 | +19.1% |
| Profit (loss) for the period to be appropriated | 9905 | €44,348 | €52,823 | +€8,475 | +19.1% |
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 8 October 2026 via checked.be.