Z U: 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 U
Largest movements
- Receivables within one year +€46,260
up €46,260 (+63.4%), from €73,014 to €119,274
of which Other amounts receivable: +€45,338
- Cash -€4,408
down €4,408 (-36.2%), from €12,180 to €7,772
mainly Receivables within one year (-€46,260) and Contributions, distributions and other (-€40,000)
- Deferred charges and accrued income +€3,781
up €3,781 (+354%), from €1,068 to €4,849
- Other debts +€43,086
up €43,086 (+3,275%), from €1,316 to €44,402
- Reserves +€3,069
up €3,069 (+12.7%), from €24,253 to €27,321
of which Distributable reserves: +€4,069
- Gross operating margin +€35,090
up €35,090 (+297%), from €11,821 to €46,911
- Taxes -€1,148
down €1,148 (-39.5%), from €2,907 to €1,759
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 | €90,273 | €135,530 | +€45,257 | +50.1% |
| Fixed assets | 21/28 | €4,011 | €3,635 | -€375 | -9.4% |
| Tangible fixed assets | 22/27 | €3,635 | €3,259 | -€375 | -10.3% |
| Furniture and vehicles | 24 | €3,635 | €3,259 | -€375 | -10.3% |
| Financial fixed assets | 28 | €376 | €376 | = | 0.0% |
| Current assets | 29/58 | €86,262 | €131,894 | +€45,633 | +52.9% |
| Amounts receivable within one year | 40/41 | €73,014 | €119,274 | +€46,260 | +63.4% |
| Trade receivables | 40 | €3,166 | €4,088 | +€922 | +29.1% |
| Other amounts receivable | 41 | €69,848 | €115,186 | +€45,338 | +64.9% |
| Cash at bank and in hand | 54/58 | €12,180 | €7,772 | -€4,408 | -36.2% |
| Deferred charges and accrued income | 490/1 | €1,068 | €4,849 | +€3,781 | +354% |
| Total equity and liabilities | 10/49 | €90,273 | €135,530 | +€45,257 | +50.1% |
| Equity | 10/15 | €69,253 | €72,321 | +€3,069 | +4.4% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Reserves | 13 | €24,253 | €27,321 | +€3,069 | +12.7% |
| Non-distributable reserves | 130/1 | €1,000 | €0 | -€1,000 | -100% |
| Reserves not available under the articles | 1311 | €1,000 | €0 | -€1,000 | -100% |
| Distributable reserves | 133 | €23,253 | €27,321 | +€4,069 | +17.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €21,020 | €63,209 | +€42,188 | +201% |
| Amounts payable within one year | 42/48 | €5,105 | €47,864 | +€42,759 | +838% |
| Trade debts | 44 | €882 | €1,703 | +€821 | +93.0% |
| Suppliers | 440/4 | €882 | €1,703 | +€821 | +93.0% |
| Taxes, remuneration and social security | 45 | €2,907 | €1,759 | -€1,148 | -39.5% |
| Taxes | 450/3 | €2,907 | €1,759 | -€1,148 | -39.5% |
| Other amounts payable | 47/48 | €1,316 | €44,402 | +€43,086 | +3,275% |
| Accrued charges and deferred income | 492/3 | €15,915 | €15,345 | -€570 | -3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €355 | €375 | +€21 | +5.8% |
| Other operating charges | 640/8 | €563 | €757 | +€194 | +34.5% |
| Gross operating margin | 9900 | €11,821 | €46,911 | +€35,090 | +297% |
| Operating profit (loss) | 9901 | €10,904 | €45,779 | +€34,876 | +320% |
| Financial income | 75/76B | €36 | €59 | +€23 | +64.8% |
| Recurring financial income | 75 | €36 | €59 | +€23 | +64.8% |
| Financial charges | 65/66B | €926 | €1,010 | +€84 | +9.1% |
| Recurring financial charges | 65 | €926 | €1,010 | +€84 | +9.1% |
| Profit (loss) for the period before taxes | 9903 | €10,013 | €44,828 | +€34,815 | +348% |
| Income taxes | 67/77 | €2,907 | €1,759 | -€1,148 | -39.5% |
| Profit (loss) for the period | 9904 | €7,106 | €43,069 | +€35,963 | +506% |
| Profit (loss) for the period to be appropriated | 9905 | €7,106 | €43,069 | +€35,963 | +506% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.