Z.V.T.: 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.V.T.
Largest movements
- Cash -€2,871
down €2,871 (-33.2%), from €8,640 to €5,769
mainly Tax, wage and social debts (-€4,416) and Current portion of long-term debt (-€3,000)
- Tangible fixed assets +€1,830
up €1,830 (+111%), from €1,654 to €3,484
- Receivables within one year -€664
down €664 (-6.4%), from €10,451 to €9,787
of which Trade receivables: -€4,022
- Reserves +€4,935
up €4,935 (+45.3%), from €10,885 to €15,820
of which Distributable reserves: +€4,935
- Tax, wage and social debts -€4,416
no longer reported in 2025 (was €4,416)
- Current portion of long-term debt -€3,000
down €3,000 (-56.9%), from €5,275 to €2,275
- Trade debts +€1,273
up €1,273 (+272%), from €467 to €1,740
- Accrued charges and deferred income -€350
no longer reported in 2025 (was €350)
- Gross operating margin -€2,958
down €2,958 (-22.4%), from €13,213 to €10,255
- Financial charges -€1,863
down €1,863 (-95.1%), from €1,959 to €96
- Other operating charges +€649
up €649 (+65.5%), from €991 to €1,641
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 | €21,088 | €19,383 | -€1,706 | -8.1% |
| Fixed assets | 21/28 | €1,904 | €3,734 | +€1,830 | +96.1% |
| Tangible fixed assets | 22/27 | €1,654 | €3,484 | +€1,830 | +111% |
| Furniture and vehicles | 24 | €1,654 | €3,484 | +€1,830 | +111% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €19,185 | €15,649 | -€3,536 | -18.4% |
| Amounts receivable within one year | 40/41 | €10,451 | €9,787 | -€664 | -6.4% |
| Trade receivables | 40 | €8,991 | €4,969 | -€4,022 | -44.7% |
| Other amounts receivable | 41 | €1,459 | €4,818 | +€3,358 | +230% |
| Cash at bank and in hand | 54/58 | €8,640 | €5,769 | -€2,871 | -33.2% |
| Deferred charges and accrued income | 490/1 | €94 | €93 | -€1 | -0.7% |
| Total equity and liabilities | 10/49 | €21,088 | €19,383 | -€1,706 | -8.1% |
| Equity | 10/15 | €10,432 | €15,368 | +€4,935 | +47.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €10,885 | €15,820 | +€4,935 | +45.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €10,885 | €15,820 | +€4,935 | +45.3% |
| Profit (loss) carried forward | 14 | -€12,852 | -€12,852 | = | 0.0% |
| Amounts payable | 17/49 | €10,656 | €4,015 | -€6,641 | -62.3% |
| Amounts payable within one year | 42/48 | €10,306 | €4,015 | -€6,291 | -61.0% |
| Current portion of amounts payable after more than one year | 42 | €5,275 | €2,275 | -€3,000 | -56.9% |
| Trade debts | 44 | €467 | €1,740 | +€1,273 | +272% |
| Suppliers | 440/4 | €467 | €1,740 | +€1,273 | +272% |
| Taxes, remuneration and social security | 45 | €4,416 | - | -€4,416 | |
| Taxes | 450/3 | €4,416 | - | -€4,416 | |
| Other amounts payable | 47/48 | €148 | - | -€148 | |
| Accrued charges and deferred income | 492/3 | €350 | - | -€350 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €816 | €920 | +€104 | +12.7% |
| Other operating charges | 640/8 | €991 | €1,641 | +€649 | +65.5% |
| Gross operating margin | 9900 | €13,213 | €10,255 | -€2,958 | -22.4% |
| Operating profit (loss) | 9901 | €11,406 | €7,695 | -€3,711 | -32.5% |
| Financial income | 75/76B | €2 | €12 | +€10 | +629% |
| Recurring financial income | 75 | €2 | €12 | +€10 | +629% |
| Financial charges | 65/66B | €1,959 | €96 | -€1,863 | -95.1% |
| Recurring financial charges | 65 | €1,959 | €96 | -€1,863 | -95.1% |
| Profit (loss) for the period before taxes | 9903 | €9,449 | €7,611 | -€1,838 | -19.4% |
| Income taxes | 67/77 | €2,576 | €2,676 | +€99 | +3.9% |
| Profit (loss) for the period | 9904 | €6,873 | €4,935 | -€1,937 | -28.2% |
| Profit (loss) for the period to be appropriated | 9905 | €6,873 | €4,935 | -€1,937 | -28.2% |
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 24 October 2026 via checked.be.