Z-Groep: 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-Groep
Largest movements
- Receivables within one year +€28,601
up €28,601 (+122%), from €23,375 to €51,976
of which Other amounts receivable: +€25,464
- Cash +€20,757
up €20,757 (+1,614%), from €1,286 to €22,043
mainly Net result for the year (+€43,998) and Tax, wage and social debts (+€11,137)
- Deferred charges and accrued income +€1,237
up €1,237 (+859%), from €144 to €1,381
- Reserves +€37,276
new in 2025: €37,276
- Tax, wage and social debts +€11,137
up €11,137 (+285%), from €3,902 to €15,039
- Profit (loss) carried forward +€6,722
no longer reported in 2025 (was -€6,722)
- Trade debts -€4,539
down €4,539 (-66.2%), from €6,859 to €2,320
- Gross operating margin +€36,955
up €36,955 (+137%), from €26,995 to €63,950
- Taxes +€13,072
up €13,072 (+230%), from €5,672 to €18,744
- Depreciation -€2,681
no longer reported in 2025 (was €2,681)
- Financial charges -€1,001
down €1,001 (-76.3%), from €1,312 to €311
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 | €24,805 | €75,401 | +€50,596 | +204% |
| Fixed assets | 21/28 | - | €1 | +€1 | |
| Financial fixed assets | 28 | - | €1 | +€1 | |
| Current assets | 29/58 | €24,805 | €75,401 | +€50,595 | +204% |
| Amounts receivable within one year | 40/41 | €23,375 | €51,976 | +€28,601 | +122% |
| Trade receivables | 40 | €19,382 | €22,519 | +€3,137 | +16.2% |
| Other amounts receivable | 41 | €3,994 | €29,457 | +€25,464 | +638% |
| Cash at bank and in hand | 54/58 | €1,286 | €22,043 | +€20,757 | +1,614% |
| Deferred charges and accrued income | 490/1 | €144 | €1,381 | +€1,237 | +859% |
| Total equity and liabilities | 10/49 | €24,805 | €75,401 | +€50,596 | +204% |
| Equity | 10/15 | €13,278 | €57,276 | +€43,998 | +331% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | - | €37,276 | +€37,276 | |
| Distributable reserves | 133 | - | €37,276 | +€37,276 | |
| Profit (loss) carried forward | 14 | -€6,722 | - | +€6,722 | |
| Amounts payable | 17/49 | €11,527 | €18,125 | +€6,598 | +57.2% |
| Amounts payable within one year | 42/48 | €11,527 | €18,125 | +€6,598 | +57.2% |
| Trade debts | 44 | €6,859 | €2,320 | -€4,539 | -66.2% |
| Suppliers | 440/4 | €6,859 | €2,320 | -€4,539 | -66.2% |
| Taxes, remuneration and social security | 45 | €3,902 | €15,039 | +€11,137 | +285% |
| Taxes | 450/3 | €3,902 | €15,039 | +€11,137 | +285% |
| Other amounts payable | 47/48 | €765 | €765 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,681 | - | -€2,681 | |
| Other operating charges | 640/8 | €1,593 | €1,753 | +€160 | +10.0% |
| Gross operating margin | 9900 | €26,995 | €63,950 | +€36,955 | +137% |
| Operating profit (loss) | 9901 | €22,721 | €62,197 | +€39,476 | +174% |
| Financial income | 75/76B | €1,022 | €856 | -€167 | -16.3% |
| Recurring financial income | 75 | €1,022 | €856 | -€167 | -16.3% |
| Financial charges | 65/66B | €1,312 | €311 | -€1,001 | -76.3% |
| Recurring financial charges | 65 | €1,312 | €311 | -€1,001 | -76.3% |
| Profit (loss) for the period before taxes | 9903 | €22,432 | €62,742 | +€40,310 | +180% |
| Income taxes | 67/77 | €5,672 | €18,744 | +€13,072 | +230% |
| Profit (loss) for the period | 9904 | €16,760 | €43,998 | +€27,238 | +163% |
| Profit (loss) for the period to be appropriated | 9905 | €16,760 | €43,998 | +€27,238 | +163% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.