Z7: 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.
Z7
Largest movements
- Tangible fixed assets +€528,627
up €528,627 (+9946.8%), from €5,315 to €533,942
of which Furniture and vehicles: +€340,276
- Receivables within one year +€80,898
up €80,898 (+44.1%), from €183,357 to €264,255
of which Other amounts receivable: +€66,202
- Cash -€57,048
down €57,048 (-27.0%), from €211,240 to €154,192
mainly Investment in fixed assets (net) (-€568,776) and Accrued charges and deferred income (-€183,000)
- Debts after one year +€423,552
new in 2025: €423,552
- Accrued charges and deferred income -€183,000
down €183,000 (-100.0%), from €183,000 to €0
- Reserves +€135,940
up €135,940 (+97.9%), from €138,863 to €274,802
- Current portion of long-term debt +€115,363
new in 2025: €115,363
- Tax, wage and social debts +€39,206
up €39,206 (+76.4%), from €51,349 to €90,555
of which Taxes: +€23,979
- Gross operating margin +€133,247
up €133,247 (+36.9%), from €361,032 to €494,280
- Staff costs +€109,386
up €109,386 (+62.3%), from €175,528 to €284,914
- Depreciation +€26,427
up €26,427 (+500.4%), from €5,281 to €31,708
- Taxes -€8,705
down €8,705 (-21.8%), from €39,909 to €31,204
- Financial charges +€5,609
up €5,609 (+1019.5%), from €550 to €6,159
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 | €401,744 | €966,738 | +€564,994 | +140.6% |
| Formation expenses | 20 | €559 | €0 | -€559 | -100.0% |
| Fixed assets | 21/28 | €5,315 | €542,942 | +€537,627 | +10116.2% |
| Tangible fixed assets | 22/27 | €5,315 | €533,942 | +€528,627 | +9946.8% |
| Plant, machinery and equipment | 23 | €2,943 | €191,295 | +€188,352 | +6399.3% |
| Furniture and vehicles | 24 | €2,371 | €342,647 | +€340,276 | +14350.2% |
| Financial fixed assets | 28 | - | €9,000 | +€9,000 | |
| Current assets | 29/58 | €395,870 | €423,796 | +€27,926 | +7.1% |
| Amounts receivable within one year | 40/41 | €183,357 | €264,255 | +€80,898 | +44.1% |
| Trade receivables | 40 | €142,100 | €156,795 | +€14,696 | +10.3% |
| Other amounts receivable | 41 | €41,258 | €107,459 | +€66,202 | +160.5% |
| Cash at bank and in hand | 54/58 | €211,240 | €154,192 | -€57,048 | -27.0% |
| Deferred charges and accrued income | 490/1 | €1,272 | €5,349 | +€4,077 | +320.5% |
| Total equity and liabilities | 10/49 | €401,744 | €966,738 | +€564,994 | +140.6% |
| Equity | 10/15 | €141,863 | €277,802 | +€135,940 | +95.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €138,863 | €274,802 | +€135,940 | +97.9% |
| Distributable reserves | 133 | €138,863 | €274,802 | +€135,940 | +97.9% |
| Amounts payable | 17/49 | €259,881 | €688,936 | +€429,054 | +165.1% |
| Amounts payable after more than one year | 17 | - | €423,552 | +€423,552 | |
| Financial debts | 170/4 | - | €423,552 | +€423,552 | |
| Amounts payable within one year | 42/48 | €76,881 | €265,383 | +€188,502 | +245.2% |
| Current portion of amounts payable after more than one year | 42 | - | €115,363 | +€115,363 | |
| Trade debts | 44 | €24,392 | €59,465 | +€35,073 | +143.8% |
| Suppliers | 440/4 | €24,392 | €59,465 | +€35,073 | +143.8% |
| Taxes, remuneration and social security | 45 | €51,349 | €90,555 | +€39,206 | +76.4% |
| Taxes | 450/3 | €39,909 | €63,888 | +€23,979 | +60.1% |
| Remuneration and social security | 454/9 | €11,440 | €26,667 | +€15,227 | +133.1% |
| Other amounts payable | 47/48 | €1,140 | €0 | -€1,140 | -100.0% |
| Accrued charges and deferred income | 492/3 | €183,000 | €0 | -€183,000 | -100.0% |
| Remuneration, social security and pensions | 62 | €175,528 | €284,914 | +€109,386 | +62.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,281 | €31,708 | +€26,427 | +500.4% |
| Other operating charges | 640/8 | €902 | €2,021 | +€1,120 | +124.2% |
| Non-recurring operating charges | 66A | - | €2,371 | +€2,371 | |
| Gross operating margin | 9900 | €361,032 | €494,280 | +€133,247 | +36.9% |
| Operating profit (loss) | 9901 | €179,322 | €173,266 | -€6,056 | -3.4% |
| Financial income | 75/76B | - | €37 | +€37 | |
| Recurring financial income | 75 | - | €37 | +€37 | |
| Financial charges | 65/66B | €550 | €6,159 | +€5,609 | +1019.5% |
| Recurring financial charges | 65 | €550 | €6,159 | +€5,609 | +1019.5% |
| Profit (loss) for the period before taxes | 9903 | €178,772 | €167,144 | -€11,628 | -6.5% |
| Income taxes | 67/77 | €39,909 | €31,204 | -€8,705 | -21.8% |
| Profit (loss) for the period | 9904 | €138,863 | €135,940 | -€2,923 | -2.1% |
| Profit (loss) for the period to be appropriated | 9905 | €138,863 | €135,940 | -€2,923 | -2.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.