Z-INVEST: 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-INVEST
Largest movements
- Receivables within one year -€30,000
down €30,000 (-9.9%), from €302,697 to €272,697
- Tangible fixed assets -€9,620
down €9,620 (-4.6%), from €207,457 to €197,836
- Other debts -€25,000
down €25,000 (-21.7%), from €115,000 to €90,000
- Debts after one year -€12,383
down €12,383 (-5.8%), from €212,677 to €200,294
- Tax, wage and social debts -€9,010
down €9,010 (-87.0%), from €10,355 to €1,345
of which Taxes: -€5,710
- Gross operating margin -€97,683
down €97,683 (-84.7%), from €115,284 to €17,602
- Taxes -€5,697
down €5,697 (-78.6%), from €7,251 to €1,554
- Financial charges -€2,058
down €2,058 (-82.3%), from €2,501 to €443
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 | €640,718 | €597,439 | -€43,279 | -6.8% |
| Fixed assets | 21/28 | €207,457 | €197,836 | -€9,620 | -4.6% |
| Tangible fixed assets | 22/27 | €207,457 | €197,836 | -€9,620 | -4.6% |
| Land and buildings | 22 | €207,457 | €197,836 | -€9,620 | -4.6% |
| Current assets | 29/58 | €433,261 | €399,603 | -€33,659 | -7.8% |
| Stocks and contracts in progress | 3 | €120,000 | €120,000 | = | 0.0% |
| Stocks | 30/36 | €120,000 | €120,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €302,697 | €272,697 | -€30,000 | -9.9% |
| Other amounts receivable | 41 | €302,697 | €272,697 | -€30,000 | -9.9% |
| Cash at bank and in hand | 54/58 | €10,519 | €6,861 | -€3,659 | -34.8% |
| Deferred charges and accrued income | 490/1 | €45 | €45 | = | 0.0% |
| Total equity and liabilities | 10/49 | €640,718 | €597,439 | -€43,279 | -6.8% |
| Equity | 10/15 | €221,805 | €225,954 | +€4,149 | +1.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €203,205 | €203,205 | = | 0.0% |
| Distributable reserves | 133 | €203,205 | €203,205 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €4,149 | +€4,149 | |
| Amounts payable | 17/49 | €418,913 | €371,485 | -€47,428 | -11.3% |
| Amounts payable after more than one year | 17 | €212,677 | €200,294 | -€12,383 | -5.8% |
| Financial debts | 170/4 | €212,677 | €200,294 | -€12,383 | -5.8% |
| Amounts payable within one year | 42/48 | €206,236 | €171,191 | -€35,045 | -17.0% |
| Current portion of amounts payable after more than one year | 42 | €12,092 | €11,878 | -€214 | -1.8% |
| Financial debts | 43 | €67,968 | €67,968 | = | 0.0% |
| Other loans | 439 | €67,968 | €67,968 | = | 0.0% |
| Trade debts | 44 | €821 | - | -€821 | |
| Suppliers | 440/4 | €821 | - | -€821 | |
| Taxes, remuneration and social security | 45 | €10,355 | €1,345 | -€9,010 | -87.0% |
| Taxes | 450/3 | €7,055 | €1,345 | -€5,710 | -80.9% |
| Remuneration and social security | 454/9 | €3,300 | - | -€3,300 | |
| Other amounts payable | 47/48 | €115,000 | €90,000 | -€25,000 | -21.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,620 | €9,620 | = | 0.0% |
| Other operating charges | 640/8 | €1,783 | €1,836 | +€53 | +3.0% |
| Gross operating margin | 9900 | €115,284 | €17,602 | -€97,683 | -84.7% |
| Operating profit (loss) | 9901 | €103,881 | €6,145 | -€97,736 | -94.1% |
| Financial charges | 65/66B | €2,501 | €443 | -€2,058 | -82.3% |
| Recurring financial charges | 65 | €2,501 | €443 | -€2,058 | -82.3% |
| Profit (loss) for the period before taxes | 9903 | €101,380 | €5,703 | -€95,677 | -94.4% |
| Income taxes | 67/77 | €7,251 | €1,554 | -€5,697 | -78.6% |
| Profit (loss) for the period | 9904 | €94,129 | €4,149 | -€89,980 | -95.6% |
| Profit (loss) for the period to be appropriated | 9905 | €94,129 | €4,149 | -€89,980 | -95.6% |
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 30 October 2026 via checked.be.