Z-sharp: 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-sharp
Largest movements
- Cash +€20,464
up €20,464 (+19.1%), from €107,413 to €127,876
mainly Net result for the year (+€28,572) and Depreciation (+€10,495)
- Tangible fixed assets -€10,495
down €10,495 (-51.4%), from €20,427 to €9,932
of which Furniture and vehicles: -€7,989
- Receivables within one year -€3,171
down €3,171 (-11.8%), from €26,792 to €23,621
of which Trade receivables: -€2,524
- Trade debts +€3,415
up €3,415 (+173.7%), from €1,966 to €5,381
- Other debts +€1,982
up €1,982 (+92.7%), from €2,138 to €4,120
- Depreciation +€4,882
up €4,882 (+87.0%), from €5,613 to €10,495
- Gross operating margin +€3,382
up €3,382 (+6.7%), from €50,403 to €53,785
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 | €157,108 | €163,890 | +€6,782 | +4.3% |
| Fixed assets | 21/28 | €20,427 | €9,932 | -€10,495 | -51.4% |
| Tangible fixed assets | 22/27 | €20,427 | €9,932 | -€10,495 | -51.4% |
| Plant, machinery and equipment | 23 | €900 | €400 | -€500 | -55.6% |
| Furniture and vehicles | 24 | €8,533 | €545 | -€7,989 | -93.6% |
| Other tangible fixed assets | 26 | €10,995 | €8,988 | -€2,007 | -18.3% |
| Current assets | 29/58 | €136,681 | €153,958 | +€17,277 | +12.6% |
| Amounts receivable within one year | 40/41 | €26,792 | €23,621 | -€3,171 | -11.8% |
| Trade receivables | 40 | €22,337 | €19,813 | -€2,524 | -11.3% |
| Other amounts receivable | 41 | €4,455 | €3,808 | -€647 | -14.5% |
| Cash at bank and in hand | 54/58 | €107,413 | €127,876 | +€20,464 | +19.1% |
| Deferred charges and accrued income | 490/1 | €2,476 | €2,460 | -€16 | -0.6% |
| Total equity and liabilities | 10/49 | €157,108 | €163,890 | +€6,782 | +4.3% |
| Equity | 10/15 | €139,108 | €140,136 | +€1,027 | +0.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €138,108 | €139,136 | +€1,027 | +0.7% |
| Distributable reserves | 133 | €138,108 | €139,136 | +€1,027 | +0.7% |
| Amounts payable | 17/49 | €18,000 | €23,754 | +€5,755 | +32.0% |
| Amounts payable within one year | 42/48 | €18,000 | €23,754 | +€5,755 | +32.0% |
| Trade debts | 44 | €1,966 | €5,381 | +€3,415 | +173.7% |
| Suppliers | 440/4 | €1,966 | €5,381 | +€3,415 | +173.7% |
| Taxes, remuneration and social security | 45 | €13,896 | €14,254 | +€357 | +2.6% |
| Taxes | 450/3 | €13,896 | €14,254 | +€357 | +2.6% |
| Other amounts payable | 47/48 | €2,138 | €4,120 | +€1,982 | +92.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,613 | €10,495 | +€4,882 | +87.0% |
| Other operating charges | 640/8 | €412 | €508 | +€95 | +23.1% |
| Gross operating margin | 9900 | €50,403 | €53,785 | +€3,382 | +6.7% |
| Operating profit (loss) | 9901 | €44,377 | €42,782 | -€1,595 | -3.6% |
| Financial income | 75/76B | €104 | €88 | -€16 | -15.1% |
| Recurring financial income | 75 | €104 | €88 | -€16 | -15.1% |
| Financial charges | 65/66B | €208 | €392 | +€185 | +88.9% |
| Recurring financial charges | 65 | €208 | €392 | +€185 | +88.9% |
| Profit (loss) for the period before taxes | 9903 | €44,273 | €42,478 | -€1,795 | -4.1% |
| Income taxes | 67/77 | €13,889 | €13,906 | +€17 | +0.1% |
| Profit (loss) for the period | 9904 | €30,384 | €28,572 | -€1,812 | -6.0% |
| Profit (loss) for the period to be appropriated | 9905 | €30,384 | €28,572 | -€1,812 | -6.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.