Z-PROJECTS: 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-PROJECTS
Largest movements
- Financial fixed assets +€411,534
up €411,534 (+46.9%), from €876,615 to €1.3m
- Receivables within one year -€40,597
down €40,597 (-84.6%), from €48,000 to €7,403
of which Trade receivables: -€48,000
- Intangible fixed assets -€21,000
no longer reported in 2024 (was €21,000)
- Other debts +€270,423
up €270,423 (+34.5%), from €784,506 to €1.1m
- Trade debts +€102,055
up €102,055 (+658.0%), from €15,510 to €117,564
- Short-term financial debts -€30,000
down €30,000 (-25.0%), from €120,000 to €90,000
- Gross operating margin +€16,567
up €16,567 (+68.5%), from €24,171 to €40,739
- Financial charges -€2,994
down €2,994 (-26.0%), from €11,493 to €8,500
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €948,184 | €1,299,736 | +€351,552 | +37.1% |
| Fixed assets | 21/28 | €898,472 | €1,288,150 | +€389,678 | +43.4% |
| Intangible fixed assets | 21 | €21,000 | - | -€21,000 | |
| Tangible fixed assets | 22/27 | €856 | - | -€856 | |
| Other tangible fixed assets | 26 | €856 | - | -€856 | |
| Financial fixed assets | 28 | €876,615 | €1,288,150 | +€411,534 | +46.9% |
| Current assets | 29/58 | €49,712 | €11,586 | -€38,126 | -76.7% |
| Amounts receivable within one year | 40/41 | €48,000 | €7,403 | -€40,597 | -84.6% |
| Trade receivables | 40 | €48,000 | - | -€48,000 | |
| Other amounts receivable | 41 | - | €7,403 | +€7,403 | |
| Cash at bank and in hand | 54/58 | €1,712 | €4,183 | +€2,471 | +144.3% |
| Total equity and liabilities | 10/49 | €948,184 | €1,299,736 | +€351,552 | +37.1% |
| Equity | 10/15 | €28,082 | €37,155 | +€9,074 | +32.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €20,917 | €20,917 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €19,057 | €19,057 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,436 | -€2,362 | +€9,074 | +79.3% |
| Amounts payable | 17/49 | €920,102 | €1,262,580 | +€342,478 | +37.2% |
| Amounts payable within one year | 42/48 | €920,102 | €1,262,580 | +€342,478 | +37.2% |
| Financial debts | 43 | €120,000 | €90,000 | -€30,000 | -25.0% |
| Credit institutions | 430/8 | €120,000 | €90,000 | -€30,000 | -25.0% |
| Trade debts | 44 | €15,510 | €117,564 | +€102,055 | +658.0% |
| Suppliers | 440/4 | €15,510 | €117,564 | +€102,055 | +658.0% |
| Taxes, remuneration and social security | 45 | €87 | €87 | = | 0.0% |
| Taxes | 450/3 | €87 | €87 | = | 0.0% |
| Other amounts payable | 47/48 | €784,506 | €1,054,929 | +€270,423 | +34.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,497 | €21,856 | +€359 | +1.7% |
| Other operating charges | 640/8 | €1,164 | €1,309 | +€144 | +12.4% |
| Gross operating margin | 9900 | €24,171 | €40,739 | +€16,567 | +68.5% |
| Operating profit (loss) | 9901 | €1,510 | €17,574 | +€16,064 | +1064.1% |
| Financial charges | 65/66B | €11,493 | €8,500 | -€2,994 | -26.0% |
| Recurring financial charges | 65 | €11,493 | €8,500 | -€2,994 | -26.0% |
| Profit (loss) for the period before taxes | 9903 | -€9,984 | €9,074 | +€19,058 | |
| Profit (loss) for the period | 9904 | -€9,984 | €9,074 | +€19,058 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,984 | €9,074 | +€19,058 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.