Z-SERVICE: 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.
What changed
Z-SERVICE
NACE 18.120, Other printing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€81,263
2024 · €84,918-€3,654
Equity
€315,385
2024 · €263,052+€52,333
Cash
€171,031
2024 · €127,687+€43,344
Balance sheet total
€452,322
2024 · €402,025+€50,297
Largest movements
Assets
- Cash +€43,344
up €43,344 (+33.9%), from €127,687 to €171,031
mainly Net result for the year (+€81,263) and Depreciation (+€24,316)
Equity and liabilities
- Reserves +€52,333
up €52,333 (+20.4%), from €256,846 to €309,180
- Debts after one year -€11,271
down €11,271 (-18.7%), from €60,376 to €49,105
- Other debts +€7,830
up €7,830 (+37.1%), from €21,100 to €28,930
- Accrued charges and deferred income -€5,923
down €5,923 (-63.5%), from €9,335 to €3,412
- Tax, wage and social debts +€5,631
up €5,631 (+25.9%), from €21,727 to €27,359
of which Taxes: +€7,932
Income statement
- Purchases and services +€54,475
up €54,475 (+14.8%), from €367,438 to €421,913
- Turnover +€48,485
up €48,485 (+8.8%), from €553,704 to €602,188
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.
Result 2024
€84,918
Gross operating margin
-€5,990
Staff costs
+€1,848
Depreciation
-€2,032
Other operating charges
+€1,905
Financial income
+€1,103
Financial charges
-€329
Taxes
-€159
Result 2025
€81,263
raises the resultlowers the result
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.
From operations
+€114,497
Investment
-€27,374
Financing
-€43,779
Cash 2024
€127,687
From operations (derived)
+€114,497
Net result for the year
+€81,263
Depreciation
+€24,316
Receivables within one year
-€4,209
Deferred charges and accrued income
+€314
Trade debts
+€5,275
Tax, wage and social debts
+€5,631
Other debts
+€7,830
Accrued charges and deferred income
-€5,923
Investment (derived)
-€27,374
Investment in fixed assets (net)
-€27,374
Financing
-€43,779
Debts after one year
-€11,271
Current portion of long-term debt
-€3,578
Contributions, distributions and other
-€28,930
Cash 2025
€171,031
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €402,025 | €452,322 | +€50,297 | +12.5% |
| Fixed assets | 21/28 | €147,181 | €150,238 | +€3,058 | +2.1% |
| Tangible fixed assets | 22/27 | €147,181 | €150,238 | +€3,058 | +2.1% |
| Land and buildings | 22 | €94,855 | €88,916 | -€5,940 | -6.3% |
| Plant, machinery and equipment | 23 | €16,370 | €36,800 | +€20,430 | +125% |
| Furniture and vehicles | 24 | €31,128 | €24,523 | -€6,606 | -21.2% |
| Leasing and similar rights | 25 | €4,827 | - | -€4,827 | |
| Current assets | 29/58 | €254,845 | €302,084 | +€47,239 | +18.5% |
| Stocks and contracts in progress | 3 | €20,025 | €20,025 | = | 0.0% |
| Stocks | 30/36 | €20,025 | €20,025 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €101,568 | €105,777 | +€4,209 | +4.1% |
| Trade receivables | 40 | €91,801 | €74,962 | -€16,839 | -18.3% |
| Other amounts receivable | 41 | €9,766 | €30,814 | +€21,048 | +216% |
| Cash at bank and in hand | 54/58 | €127,687 | €171,031 | +€43,344 | +33.9% |
| Deferred charges and accrued income | 490/1 | €5,565 | €5,251 | -€314 | -5.6% |
| Total equity and liabilities | 10/49 | €402,025 | €452,322 | +€50,297 | +12.5% |
| Equity | 10/15 | €263,052 | €315,385 | +€52,333 | +19.9% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €256,846 | €309,180 | +€52,333 | +20.4% |
| Distributable reserves | 133 | €256,846 | €309,180 | +€52,333 | +20.4% |
| Amounts payable | 17/49 | €138,974 | €136,937 | -€2,037 | -1.5% |
| Amounts payable after more than one year | 17 | €60,376 | €49,105 | -€11,271 | -18.7% |
| Financial debts | 170/4 | €60,376 | €49,105 | -€11,271 | -18.7% |
| Amounts payable within one year | 42/48 | €69,263 | €84,421 | +€15,158 | +21.9% |
| Current portion of amounts payable after more than one year | 42 | €14,849 | €11,271 | -€3,578 | -24.1% |
| Trade debts | 44 | €11,586 | €16,861 | +€5,275 | +45.5% |
| Suppliers | 440/4 | €11,586 | €16,861 | +€5,275 | +45.5% |
| Taxes, remuneration and social security | 45 | €21,727 | €27,359 | +€5,631 | +25.9% |
| Taxes | 450/3 | €16,644 | €24,576 | +€7,932 | +47.7% |
| Remuneration and social security | 454/9 | €5,083 | €2,782 | -€2,301 | -45.3% |
| Other amounts payable | 47/48 | €21,100 | €28,930 | +€7,830 | +37.1% |
| Accrued charges and deferred income | 492/3 | €9,335 | €3,412 | -€5,923 | -63.5% |
| Turnover | 70 | €553,704 | €602,188 | +€48,485 | +8.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €367,438 | €421,913 | +€54,475 | +14.8% |
| Remuneration, social security and pensions | 62 | €39,891 | €38,043 | -€1,848 | -4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,284 | €24,316 | +€2,032 | +9.1% |
| Other operating charges | 640/8 | €4,844 | €2,939 | -€1,905 | -39.3% |
| Gross operating margin | 9900 | €186,265 | €180,275 | -€5,990 | -3.2% |
| Operating profit (loss) | 9901 | €119,247 | €114,977 | -€4,270 | -3.6% |
| Financial income | 75/76B | €1,060 | €2,164 | +€1,103 | +104% |
| Recurring financial income | 75 | €1,060 | €2,164 | +€1,103 | +104% |
| Financial charges | 65/66B | €2,106 | €2,435 | +€329 | +15.6% |
| Recurring financial charges | 65 | €2,106 | €2,435 | +€329 | +15.6% |
| Profit (loss) for the period before taxes | 9903 | €118,202 | €114,706 | -€3,496 | -3.0% |
| Income taxes | 67/77 | €33,284 | €33,443 | +€159 | +0.5% |
| Profit (loss) for the period | 9904 | €84,918 | €81,263 | -€3,654 | -4.3% |
| Profit (loss) for the period to be appropriated | 9905 | €84,918 | €81,263 | -€3,654 | -4.3% |
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 18 October 2026 via checked.be.