Z-Factory: 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-Factory
Largest movements
- Tangible fixed assets -€7,201
down €7,201 (-2.0%), from €366,228 to €359,027
- Debts after one year -€8,874
down €8,874 (-2.7%), from €325,221 to €316,347
- Depreciation -€10,626
down €10,626 (-59.6%), from €17,827 to €7,201
- Gross operating margin +€10,530
up €10,530 (+77.4%), from €13,613 to €24,143
- Financial charges +€1,964
up €1,964 (+18.8%), from €10,438 to €12,402
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.
Derived cash bridge
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 | €371,679 | €365,244 | -€6,435 | -1.7% |
| Fixed assets | 21/28 | €366,228 | €359,027 | -€7,201 | -2.0% |
| Tangible fixed assets | 22/27 | €366,228 | €359,027 | -€7,201 | -2.0% |
| Land and buildings | 22 | €366,228 | €359,027 | -€7,201 | -2.0% |
| Current assets | 29/58 | €5,452 | €6,218 | +€766 | +14.0% |
| Amounts receivable within one year | 40/41 | - | €1,572 | +€1,572 | |
| Trade receivables | 40 | - | €1,572 | +€1,572 | |
| Cash at bank and in hand | 54/58 | €5,452 | €3,945 | -€1,506 | -27.6% |
| Deferred charges and accrued income | 490/1 | - | €700 | +€700 | |
| Total equity and liabilities | 10/49 | €371,679 | €365,244 | -€6,435 | -1.7% |
| Equity | 10/15 | €33,397 | €35,904 | +€2,506 | +7.5% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,603 | -€14,096 | +€2,506 | +15.1% |
| Amounts payable | 17/49 | €338,282 | €329,340 | -€8,942 | -2.6% |
| Amounts payable after more than one year | 17 | €325,221 | €316,347 | -€8,874 | -2.7% |
| Financial debts | 170/4 | €325,221 | €316,347 | -€8,874 | -2.7% |
| Amounts payable within one year | 42/48 | €9,652 | €9,585 | -€67 | -0.7% |
| Current portion of amounts payable after more than one year | 42 | €8,559 | €8,874 | +€315 | +3.7% |
| Trade debts | 44 | - | €19 | +€19 | |
| Suppliers | 440/4 | - | €19 | +€19 | |
| Other amounts payable | 47/48 | €1,093 | €692 | -€402 | -36.7% |
| Accrued charges and deferred income | 492/3 | €3,408 | €3,408 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,827 | €7,201 | -€10,626 | -59.6% |
| Other operating charges | 640/8 | €1,950 | €2,034 | +€84 | +4.3% |
| Gross operating margin | 9900 | €13,613 | €24,143 | +€10,530 | +77.4% |
| Operating profit (loss) | 9901 | -€6,165 | €14,908 | +€21,073 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €10,438 | €12,402 | +€1,964 | +18.8% |
| Recurring financial charges | 65 | €10,438 | €12,402 | +€1,964 | +18.8% |
| Profit (loss) for the period before taxes | 9903 | -€16,603 | €2,506 | +€19,109 | |
| Profit (loss) for the period | 9904 | -€16,603 | €2,506 | +€19,109 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,603 | €2,506 | +€19,109 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.