Z & PARTNERS: what changed
Two fiscal 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 & PARTNERS
Largest movements
- Tangible fixed assets -€9,179
down €9,179 (-33.7%), from €27,228 to €18,049
of which Furniture and vehicles: -€10,365
- Cash +€1,979
up €1,979 (+69.2%), from €2,858 to €4,837
mainly Net result for the year (+€14,855) and Depreciation (+€10,595)
- Receivables within one year -€1,341
down €1,341 (-6.8%), from €19,741 to €18,401
of which Other amounts receivable: -€5,730
- Profit (loss) carried forward +€14,855
up €14,855 (+79.0%), from -€18,815 to -€3,960
- Trade debts -€10,450
down €10,450 (-79.7%), from €13,113 to €2,663
- Debts after one year -€8,146
down €8,146 (-41.0%), from €19,854 to €11,708
- Tax, wage and social debts -€3,637
down €3,637 (-27.5%), from €13,216 to €9,579
of which Remuneration and social security: -€9,358
- Other debts -€1,329
down €1,329 (-10.5%), from €12,656 to €11,327
- Gross operating margin +€38,616
up €38,616 (+33.1%), from €116,553 to €155,169
- Other operating charges +€4,363
up €4,363 (+809.8%), from €539 to €4,902
- Taxes +€3,699
new in 2025: €3,699
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.
Cash bridge derived
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 | €50,612 | €41,963 | -€8,650 | -17.1% |
| Fixed assets | 21/28 | €27,228 | €18,049 | -€9,179 | -33.7% |
| Tangible fixed assets | 22/27 | €27,228 | €18,049 | -€9,179 | -33.7% |
| Plant, machinery and equipment | 23 | - | €1,186 | +€1,186 | |
| Furniture and vehicles | 24 | €27,228 | €16,863 | -€10,365 | -38.1% |
| Current assets | 29/58 | €23,385 | €23,913 | +€529 | +2.3% |
| Amounts receivable within one year | 40/41 | €19,741 | €18,401 | -€1,341 | -6.8% |
| Trade receivables | 40 | €14,011 | €18,401 | +€4,390 | +31.3% |
| Other amounts receivable | 41 | €5,730 | €0 | -€5,730 | -100.0% |
| Cash at bank and in hand | 54/58 | €2,858 | €4,837 | +€1,979 | +69.2% |
| Deferred charges and accrued income | 490/1 | €785 | €675 | -€110 | -14.0% |
| Total equity and liabilities | 10/49 | €50,612 | €41,963 | -€8,650 | -17.1% |
| Equity | 10/15 | -€16,315 | -€1,460 | +€14,855 | +91.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,815 | -€3,960 | +€14,855 | +79.0% |
| Amounts payable | 17/49 | €66,928 | €43,423 | -€23,505 | -35.1% |
| Amounts payable after more than one year | 17 | €19,854 | €11,708 | -€8,146 | -41.0% |
| Financial debts | 170/4 | €19,854 | €11,708 | -€8,146 | -41.0% |
| Amounts payable within one year | 42/48 | €46,904 | €31,715 | -€15,189 | -32.4% |
| Current portion of amounts payable after more than one year | 42 | €7,920 | €8,146 | +€227 | +2.9% |
| Trade debts | 44 | €13,113 | €2,663 | -€10,450 | -79.7% |
| Suppliers | 440/4 | €13,113 | €2,663 | -€10,450 | -79.7% |
| Taxes, remuneration and social security | 45 | €13,216 | €9,579 | -€3,637 | -27.5% |
| Taxes | 450/3 | €36 | €5,757 | +€5,720 | +15754.5% |
| Remuneration and social security | 454/9 | €13,180 | €3,822 | -€9,358 | -71.0% |
| Other amounts payable | 47/48 | €12,656 | €11,327 | -€1,329 | -10.5% |
| Accrued charges and deferred income | 492/3 | €169 | €0 | -€169 | -100.0% |
| Remuneration, social security and pensions | 62 | €121,377 | €120,298 | -€1,078 | -0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,561 | €10,595 | +€1,034 | +10.8% |
| Other operating charges | 640/8 | €539 | €4,902 | +€4,363 | +809.8% |
| Gross operating margin | 9900 | €116,553 | €155,169 | +€38,616 | +33.1% |
| Operating profit (loss) | 9901 | -€14,924 | €19,374 | +€34,297 | |
| Financial income | 75/76B | €369 | €2 | -€367 | -99.5% |
| Recurring financial income | 75 | €369 | €2 | -€367 | -99.5% |
| Financial charges | 65/66B | €1,245 | €822 | -€423 | -34.0% |
| Recurring financial charges | 65 | €1,245 | €822 | -€423 | -34.0% |
| Profit (loss) for the period before taxes | 9903 | -€15,799 | €18,554 | +€34,353 | |
| Income taxes | 67/77 | - | €3,699 | +€3,699 | |
| Profit (loss) for the period | 9904 | -€15,799 | €14,855 | +€30,654 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,799 | €14,855 | +€30,654 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.