Z-KRACHT: what changed
What changed
Z-KRACHT
filed annual accounts (NBB)
Net result for the year
€4.3m
2024 · €18.4m-€14.1m
Equity
€124.6m
2024 · €119.4m+€5.2m
Cash
€3.4m
2024 · €3.4m-€29,210
Balance sheet total
€129.0m
2024 · €137.0m-€8.0m
Largest movements
Assets
- Current investments -€15.2m
down €15.2m (-91.0%), from €16.7m to €1.5m
- Financial fixed assets +€8.7m
up €8.7m (+7.6%), from €114.7m to €123.4m
- Receivables within one year -€1.5m
down €1.5m (-69.1%), from €2.1m to €656,686
of which Other amounts receivable: -€1.5m
Equity and liabilities
- Other debts -€13.2m
down €13.2m (-75.4%), from €17.5m to €4.3m
- Revaluation surpluses +€5.2m
up €5.2m (+21.9%), from €23.5m to €28.7m
Income statement
- Financial income -€14.4m
down €14.4m (-76.0%), from €19.0m to €4.6m
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€18.4m
Depreciation
-€1,262
Other operating charges
-€483
Other operating items
-€10,306
Financial income
-€14.4m
Financial charges
+€195,870
Taxes
+€190,804
Result 2025
€4.3m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€7.3m
Investment
+€6.4m
Financing
+€822,864
Cash 2024
€3.4m
From operations (derived)
-€7.3m
Net result for the year
+€4.3m
Depreciation
+€1,262
Receivables within one year
+€1.5m
Deferred charges and accrued income
+€90,579
Smaller working-capital items
-€24,314
Other debts
-€13.2m
Investment (derived)
+€6.4m
Investment in fixed assets (net)
-€8.8m
Current investments
+€15.2m
Financing
+€822,864
Short-term financial debts
-€37,510
Contributions, distributions and other
+€860,374
Cash 2025
€3.4m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €136,993,106 | €128,957,420 | -€8.0m | -5.9% |
| Fixed assets | 21/28 | €114,669,924 | €123,422,035 | +€8.8m | +7.6% |
| Intangible fixed assets | 21 | - | €2,586 | +€2,586 | |
| Financial fixed assets | 28 | €114,669,924 | €123,419,449 | +€8.7m | +7.6% |
| Companies linked by participating interests | 282/3 | €114,669,924 | €123,419,449 | +€8.7m | +7.6% |
| Participating interests | 282 | €108,215,206 | €121,268,842 | +€13.1m | +12.1% |
| Amounts receivable | 283 | €6,454,718 | €2,150,607 | -€4.3m | -66.7% |
| Current assets | 29/58 | €22,323,182 | €5,535,385 | -€16.8m | -75.2% |
| Amounts receivable within one year | 40/41 | €2,124,693 | €656,686 | -€1.5m | -69.1% |
| Trade receivables | 40 | €1,924 | - | -€1,924 | |
| Other amounts receivable | 41 | €2,122,769 | €656,686 | -€1.5m | -69.1% |
| Current investments | 50/53 | €16,700,000 | €1,500,000 | -€15.2m | -91.0% |
| Other investments | 51/53 | €16,700,000 | €1,500,000 | -€15.2m | -91.0% |
| Cash at bank and in hand | 54/58 | €3,401,205 | €3,371,994 | -€29,210 | -0.9% |
| Deferred charges and accrued income | 490/1 | €97,284 | €6,704 | -€90,579 | -93.1% |
| Total equity and liabilities | 10/49 | €136,993,106 | €128,957,420 | -€8.0m | -5.9% |
| Equity | 10/15 | €119,442,813 | €124,618,951 | +€5.2m | +4.3% |
| Contributions | 10/11 | €92,027,991 | €92,027,991 | = | 0.0% |
| Capital | 10 | €92,027,991 | €92,027,991 | = | 0.0% |
| Issued capital | 100 | €92,027,991 | €92,027,991 | = | 0.0% |
| Revaluation surpluses | 12 | €23,524,512 | €28,684,885 | +€5.2m | +21.9% |
| Reserves | 13 | €3,890,311 | €3,906,075 | +€15,764 | +0.4% |
| Non-distributable reserves | 130/1 | €3,560,385 | €3,776,173 | +€215,788 | +6.1% |
| Legal reserve | 130 | €3,560,385 | €3,776,173 | +€215,788 | +6.1% |
| Distributable reserves | 133 | €329,926 | €129,902 | -€200,024 | -60.6% |
| Amounts payable | 17/49 | €17,550,292 | €4,338,469 | -€13.2m | -75.3% |
| Amounts payable within one year | 42/48 | €17,518,849 | €4,332,828 | -€13.2m | -75.3% |
| Financial debts | 43 | €37,510 | - | -€37,510 | |
| Other loans | 439 | €37,510 | - | -€37,510 | |
| Trade debts | 44 | €31,340 | €32,828 | +€1,488 | +4.7% |
| Suppliers | 440/4 | €31,340 | €32,828 | +€1,488 | +4.7% |
| Other amounts payable | 47/48 | €17,450,000 | €4,300,000 | -€13.2m | -75.4% |
| Accrued charges and deferred income | 492/3 | €31,443 | €5,641 | -€25,802 | -82.1% |
| Operating charges | 60/66A | €138,306 | €150,357 | +€12,051 | +8.7% |
| Services and other goods | 61 | €136,718 | €147,024 | +€10,306 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,262 | +€1,262 | |
| Other operating charges | 640/8 | €1,588 | €2,071 | +€483 | +30.4% |
| Operating profit (loss) | 9901 | -€138,306 | -€150,357 | -€12,051 | -8.7% |
| Financial income | 75/76B | €18,984,805 | €4,551,511 | -€14.4m | -76.0% |
| Recurring financial income | 75 | €18,984,805 | €4,551,511 | -€14.4m | -76.0% |
| Income from financial fixed assets | 750 | €18,513,996 | €4,371,411 | -€14.1m | -76.4% |
| Income from current assets | 751 | €470,809 | €180,100 | -€290,709 | -61.7% |
| Financial charges | 65/66B | €202,050 | €6,180 | -€195,870 | -96.9% |
| Recurring financial charges | 65 | €191,059 | €449 | -€190,611 | -99.8% |
| Debt charges | 650 | €190,611 | - | -€190,611 | |
| Other financial charges | 652/9 | €448 | €449 | +€1 | +0.1% |
| Non-recurring financial charges | 66B | €10,990 | €5,731 | -€5,259 | -47.9% |
| Profit (loss) for the period before taxes | 9903 | €18,644,449 | €4,394,974 | -€14.2m | -76.4% |
| Income taxes | 67/77 | €270,014 | €79,209 | -€190,804 | -70.7% |
| Taxes | 670/3 | €270,014 | €79,209 | -€190,804 | -70.7% |
| Profit (loss) for the period | 9904 | €18,374,435 | €4,315,764 | -€14.1m | -76.5% |
| Profit (loss) for the period to be appropriated | 9905 | €18,374,435 | €4,315,764 | -€14.1m | -76.5% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.