ZA&A: 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.
ZA&A
Largest movements
- Cash -€1,143
down €1,143 (-48.3%), from €2,368 to €1,225
mainly Contributions, distributions and other (-€805,693) and Smaller working-capital items (-€390)
- Receivables within one year +€341
up €341 (+88.6%), from €384 to €725
- Profit (loss) carried forward -€3,707
down €3,707 (-0.8%), from -€456,240 to -€459,947
- Other debts +€2,954
up €2,954 (+0.7%), from €399,137 to €402,090
- Trade debts -€50
down €50 (-29.7%), from €168 to €118
- Gross operating margin -€938,261
down €938,261 (-53.9%), from €1.7m to €802,536
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 | €2,752 | €1,950 | -€803 | -29.2% |
| Current assets | 29/58 | €2,752 | €1,950 | -€803 | -29.2% |
| Amounts receivable within one year | 40/41 | €384 | €725 | +€341 | +88.6% |
| Other amounts receivable | 41 | €384 | €725 | +€341 | +88.6% |
| Cash at bank and in hand | 54/58 | €2,368 | €1,225 | -€1,143 | -48.3% |
| Total equity and liabilities | 10/49 | €2,752 | €1,950 | -€803 | -29.2% |
| Equity | 10/15 | -€396,552 | -€400,258 | -€3,707 | -0.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €41,088 | €41,088 | = | 0.0% |
| Distributable reserves | 133 | €41,088 | €41,088 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€456,240 | -€459,947 | -€3,707 | -0.8% |
| Amounts payable | 17/49 | €399,304 | €402,208 | +€2,904 | +0.7% |
| Amounts payable within one year | 42/48 | €399,304 | €402,208 | +€2,904 | +0.7% |
| Trade debts | 44 | €168 | €118 | -€50 | -29.7% |
| Suppliers | 440/4 | €168 | €118 | -€50 | -29.7% |
| Other amounts payable | 47/48 | €399,137 | €402,090 | +€2,954 | +0.7% |
| Non-recurring operating income | 76A | €1,746,130 | €805,693 | -€940,437 | -53.9% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €1,740,798 | €802,536 | -€938,261 | -53.9% |
| Operating profit (loss) | 9901 | €1,740,292 | €802,016 | -€938,276 | -53.9% |
| Financial income | 75/76B | €12 | - | -€12 | |
| Recurring financial income | 75 | €12 | - | -€12 | |
| Financial charges | 65/66B | €6,924 | €30 | -€6,894 | -99.6% |
| Recurring financial charges | 65 | €51 | €30 | -€21 | -41.2% |
| Non-recurring financial charges | 66B | €6,873 | - | -€6,873 | |
| Profit (loss) for the period before taxes | 9903 | €1,733,381 | €801,986 | -€931,394 | -53.7% |
| Income taxes | 67/77 | €1 | - | -€1 | |
| Profit (loss) for the period | 9904 | €1,733,380 | €801,986 | -€931,394 | -53.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,733,380 | €801,986 | -€931,394 | -53.7% |
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 3 October 2026 via checked.be.