Z-KAP: 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-KAP
Largest movements
- Receivables within one year +€38,021
new in 2025: €38,021
- Tangible fixed assets -€21,334
down €21,334 (-93.9%), from €22,711 to €1,377
of which Furniture and vehicles: -€20,833
- Stocks and contracts -€450
down €450 (-60.0%), from €750 to €300
- Cash -€415
down €415 (-45.2%), from €920 to €504
mainly Receivables within one year (-€38,021) and Other debts (-€23,697)
- Trade debts +€36,187
up €36,187 (+2,400%), from €1,508 to €37,695
- Other debts -€23,697
down €23,697 (-69.0%), from €34,321 to €10,624
- Profit (loss) carried forward +€3,087
up €3,087 (+14.8%), from -€20,795 to -€17,708
- Turnover -€71,785
no longer reported in 2025 (was €71,785)
- Purchases and services -€61,393
no longer reported in 2025 (was €61,393)
- Staff costs -€8,390
down €8,390 (-60.8%), from €13,797 to €5,407
- Other operating charges -€4,687
down €4,687 (-96.9%), from €4,837 to €150
- Gross operating margin -€3,461
down €3,461 (-26.8%), from €12,904 to €9,443
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 | €24,880 | €40,702 | +€15,822 | +63.6% |
| Fixed assets | 21/28 | €23,211 | €1,877 | -€21,334 | -91.9% |
| Tangible fixed assets | 22/27 | €22,711 | €1,377 | -€21,334 | -93.9% |
| Plant, machinery and equipment | 23 | €1,877 | €1,377 | -€501 | -26.7% |
| Furniture and vehicles | 24 | €20,833 | - | -€20,833 | |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €1,670 | €38,825 | +€37,156 | +2,225% |
| Stocks and contracts in progress | 3 | €750 | €300 | -€450 | -60.0% |
| Stocks | 30/36 | €750 | €300 | -€450 | -60.0% |
| Amounts receivable within one year | 40/41 | - | €38,021 | +€38,021 | |
| Trade receivables | 40 | - | €38,021 | +€38,021 | |
| Cash at bank and in hand | 54/58 | €920 | €504 | -€415 | -45.2% |
| Total equity and liabilities | 10/49 | €24,880 | €40,702 | +€15,822 | +63.6% |
| Equity | 10/15 | -€15,795 | -€12,708 | +€3,087 | +19.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,795 | -€17,708 | +€3,087 | +14.8% |
| Amounts payable | 17/49 | €40,675 | €53,410 | +€12,735 | +31.3% |
| Amounts payable within one year | 42/48 | €40,675 | €53,410 | +€12,735 | +31.3% |
| Trade debts | 44 | €1,508 | €37,695 | +€36,187 | +2,400% |
| Suppliers | 440/4 | €1,508 | €37,695 | +€36,187 | +2,400% |
| Taxes, remuneration and social security | 45 | €4,846 | €5,091 | +€245 | +5.1% |
| Taxes | 450/3 | €3,036 | €2,976 | -€59 | -2.0% |
| Remuneration and social security | 454/9 | €1,810 | €2,114 | +€304 | +16.8% |
| Other amounts payable | 47/48 | €34,321 | €10,624 | -€23,697 | -69.0% |
| Turnover | 70 | €71,785 | - | -€71,785 | |
| Goods, raw materials, services and sundry goods | 60/61 | €61,393 | - | -€61,393 | |
| Remuneration, social security and pensions | 62 | €13,797 | €5,407 | -€8,390 | -60.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,067 | €501 | -€2,567 | -83.7% |
| Other operating charges | 640/8 | €4,837 | €150 | -€4,687 | -96.9% |
| Gross operating margin | 9900 | €12,904 | €9,443 | -€3,461 | -26.8% |
| Operating profit (loss) | 9901 | -€8,797 | €3,386 | +€12,183 | |
| Financial income | 75/76B | €73 | €0 | -€73 | -100.0% |
| Recurring financial income | 75 | €73 | €0 | -€73 | -100.0% |
| Financial charges | 65/66B | €114 | €225 | +€111 | +97.2% |
| Recurring financial charges | 65 | €114 | €225 | +€111 | +97.2% |
| Profit (loss) for the period before taxes | 9903 | -€8,838 | €3,161 | +€11,999 | |
| Income taxes | 67/77 | €189 | €74 | -€116 | -61.1% |
| Profit (loss) for the period | 9904 | -€9,028 | €3,087 | +€12,115 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,028 | €3,087 | +€12,115 |
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 15 October 2026 via checked.be.