Z S CONSULT: 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 S CONSULT
Largest movements
- Receivables within one year +€28,629
up €28,629 (+17.4%), from €164,254 to €192,883
of which Other amounts receivable: +€28,527
- Tangible fixed assets +€12,760
new in 2025: €12,760
- Profit (loss) carried forward +€15,187
up €15,187 (+8.4%), from €181,400 to €196,587
- Reserves +€13,000
up €13,000 (+6.7%), from €192,996 to €205,996
of which Distributable reserves: +€13,000
- Advances received +€12,319
up €12,319 (+17.1%), from €71,945 to €84,264
- Tax, wage and social debts +€10,994
up €10,994 (+112%), from €9,798 to €20,791
- Short-term financial debts -€9,512
down €9,512 (-65.7%), from €14,476 to €4,964
- Gross operating margin -€153,014
down €153,014 (-74.1%), from €206,509 to €53,494
- Depreciation +€4,740
new in 2025: €4,740
- Other operating charges +€3,097
new in 2025: €3,097
- Taxes +€2,533
up €2,533 (+19.3%), from €13,153 to €15,685
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 | €481,559 | €524,796 | +€43,236 | +9.0% |
| Fixed assets | 21/28 | €229 | €12,989 | +€12,760 | +5,580% |
| Tangible fixed assets | 22/27 | - | €12,760 | +€12,760 | |
| Furniture and vehicles | 24 | - | €12,760 | +€12,760 | |
| Financial fixed assets | 28 | €229 | €229 | = | 0.0% |
| Current assets | 29/58 | €481,331 | €511,807 | +€30,476 | +6.3% |
| Amounts receivable after more than one year | 29 | €315,000 | €315,000 | = | 0.0% |
| Other amounts receivable | 291 | €315,000 | €315,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €164,254 | €192,883 | +€28,629 | +17.4% |
| Trade receivables | 40 | €9,793 | €9,895 | +€102 | +1.0% |
| Other amounts receivable | 41 | €154,461 | €182,988 | +€28,527 | +18.5% |
| Current investments | 50/53 | €2,077 | €2,928 | +€852 | +41.0% |
| Cash at bank and in hand | 54/58 | - | €995 | +€995 | |
| Total equity and liabilities | 10/49 | €481,559 | €524,796 | +€43,236 | +9.0% |
| Equity | 10/15 | €379,354 | €407,540 | +€28,187 | +7.4% |
| Contributions | 10/11 | €4,958 | €4,958 | = | 0.0% |
| Reserves | 13 | €192,996 | €205,996 | +€13,000 | +6.7% |
| Non-distributable reserves | 130/1 | €496 | €496 | = | 0.0% |
| Reserves not available under the articles | 1311 | €496 | €496 | = | 0.0% |
| Distributable reserves | 133 | €192,500 | €205,500 | +€13,000 | +6.8% |
| Profit (loss) carried forward | 14 | €181,400 | €196,587 | +€15,187 | +8.4% |
| Amounts payable | 17/49 | €102,205 | €117,255 | +€15,050 | +14.7% |
| Amounts payable within one year | 42/48 | €102,205 | €117,255 | +€15,050 | +14.7% |
| Current portion of amounts payable after more than one year | 42 | €5,000 | €5,000 | = | 0.0% |
| Financial debts | 43 | €14,476 | €4,964 | -€9,512 | -65.7% |
| Credit institutions | 430/8 | €14,476 | €4,964 | -€9,512 | -65.7% |
| Trade debts | 44 | €987 | €2,236 | +€1,249 | +127% |
| Suppliers | 440/4 | €987 | €2,236 | +€1,249 | +127% |
| Advances received on contracts in progress | 46 | €71,945 | €84,264 | +€12,319 | +17.1% |
| Taxes, remuneration and social security | 45 | €9,798 | €20,791 | +€10,994 | +112% |
| Taxes | 450/3 | €9,798 | €20,791 | +€10,994 | +112% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €4,740 | +€4,740 | |
| Other operating charges | 640/8 | - | €3,097 | +€3,097 | |
| Gross operating margin | 9900 | €206,509 | €53,494 | -€153,014 | -74.1% |
| Operating profit (loss) | 9901 | €206,509 | €45,658 | -€160,850 | -77.9% |
| Financial income | 75/76B | €121 | €276 | +€155 | +128% |
| Recurring financial income | 75 | €121 | €276 | +€155 | +128% |
| Financial charges | 65/66B | €2,077 | €2,062 | -€15 | -0.7% |
| Recurring financial charges | 65 | €2,077 | €2,062 | -€15 | -0.7% |
| Profit (loss) for the period before taxes | 9903 | €204,553 | €43,872 | -€160,681 | -78.6% |
| Income taxes | 67/77 | €13,153 | €15,685 | +€2,533 | +19.3% |
| Profit (loss) for the period | 9904 | €191,400 | €28,187 | -€163,213 | -85.3% |
| Profit (loss) for the period to be appropriated | 9905 | €191,400 | €28,187 | -€163,213 | -85.3% |
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 31 October 2026 via checked.be.