Z13: 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.
Z13
Largest movements
- Tangible fixed assets +€17,712
up €17,712 (+25.2%), from €70,241 to €87,953
of which Other tangible fixed assets: +€25,370
- Stocks and contracts -€16,367
down €16,367 (-24.2%), from €67,585 to €51,218
- Cash +€12,103
up €12,103 (+17.4%), from €69,574 to €81,676
mainly Trade debts (+€20,943) and Depreciation (+€18,267)
- Receivables within one year +€3,637
up €3,637 (+12.1%), from €30,024 to €33,661
of which Other amounts receivable: +€4,912
- Trade debts +€20,943
up €20,943 (+42.3%), from €49,471 to €70,414
- Accrued charges and deferred income -€4,767
down €4,767 (-76.1%), from €6,267 to €1,500
- Gross operating margin -€2,362
down €2,362 (-6.9%), from €34,193 to €31,831
- Depreciation +€1,342
up €1,342 (+7.9%), from €16,924 to €18,267
- Taxes -€601
down €601 (-87.2%), from €689 to €88
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 | €241,423 | €257,007 | +€15,584 | +6.5% |
| Fixed assets | 21/28 | €74,240 | €90,452 | +€16,212 | +21.8% |
| Intangible fixed assets | 21 | €3,999 | €2,499 | -€1,500 | -37.5% |
| Tangible fixed assets | 22/27 | €70,241 | €87,953 | +€17,712 | +25.2% |
| Plant, machinery and equipment | 23 | €7,658 | - | -€7,658 | |
| Other tangible fixed assets | 26 | €62,583 | €87,953 | +€25,370 | +40.5% |
| Current assets | 29/58 | €167,183 | €166,555 | -€628 | -0.4% |
| Stocks and contracts in progress | 3 | €67,585 | €51,218 | -€16,367 | -24.2% |
| Stocks | 30/36 | €67,585 | €51,218 | -€16,367 | -24.2% |
| Amounts receivable within one year | 40/41 | €30,024 | €33,661 | +€3,637 | +12.1% |
| Trade receivables | 40 | €28,213 | €26,938 | -€1,275 | -4.5% |
| Other amounts receivable | 41 | €1,811 | €6,722 | +€4,912 | +271.3% |
| Cash at bank and in hand | 54/58 | €69,574 | €81,676 | +€12,103 | +17.4% |
| Total equity and liabilities | 10/49 | €241,423 | €257,007 | +€15,584 | +6.5% |
| Equity | 10/15 | €10,337 | €11,220 | +€884 | +8.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €5,337 | €6,220 | +€884 | +16.6% |
| Distributable reserves | 133 | €5,337 | €6,220 | +€884 | +16.6% |
| Amounts payable | 17/49 | €231,086 | €245,787 | +€14,701 | +6.4% |
| Amounts payable after more than one year | 17 | €168,500 | €168,500 | = | 0.0% |
| Financial debts | 170/4 | €168,500 | €168,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €56,320 | €75,787 | +€19,467 | +34.6% |
| Trade debts | 44 | €49,471 | €70,414 | +€20,943 | +42.3% |
| Suppliers | 440/4 | €49,471 | €70,414 | +€20,943 | +42.3% |
| Taxes, remuneration and social security | 45 | €6,849 | €5,373 | -€1,476 | -21.5% |
| Taxes | 450/3 | €6,849 | €5,373 | -€1,476 | -21.5% |
| Accrued charges and deferred income | 492/3 | €6,267 | €1,500 | -€4,767 | -76.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,924 | €18,267 | +€1,342 | +7.9% |
| Other operating charges | 640/8 | €5,488 | €5,659 | +€171 | +3.1% |
| Gross operating margin | 9900 | €34,193 | €31,831 | -€2,362 | -6.9% |
| Operating profit (loss) | 9901 | €11,781 | €7,906 | -€3,875 | -32.9% |
| Financial income | 75/76B | €144 | €277 | +€134 | +93.3% |
| Recurring financial income | 75 | €144 | €277 | +€134 | +93.3% |
| Financial charges | 65/66B | €6,953 | €7,211 | +€258 | +3.7% |
| Recurring financial charges | 65 | €6,953 | €7,211 | +€258 | +3.7% |
| Profit (loss) for the period before taxes | 9903 | €4,971 | €972 | -€3,999 | -80.4% |
| Income taxes | 67/77 | €689 | €88 | -€601 | -87.2% |
| Profit (loss) for the period | 9904 | €4,282 | €884 | -€3,398 | -79.4% |
| Profit (loss) for the period to be appropriated | 9905 | €4,282 | €884 | -€3,398 | -79.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.