Zaco Consultancy: 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.
Zaco Consultancy
Largest movements
- Current investments +€170,679
up €170,679 (+24.1%), from €708,919 to €879,598
- Cash -€114,973
down €114,973 (-27.6%), from €416,213 to €301,240
mainly Current investments (-€170,679) and Tax, wage and social debts (-€83,065)
- Tangible fixed assets -€20,028
down €20,028 (-5.2%), from €386,716 to €366,688
of which Land and buildings: -€19,162
- Reserves +€121,102
up €121,102 (+30.8%), from €392,708 to €513,810
of which Distributable reserves: +€121,102
- Tax, wage and social debts -€83,065
down €83,065 (-90.4%), from €91,905 to €8,840
- Gross operating margin -€97,636
down €97,636 (-33.3%), from €293,220 to €195,584
- Taxes -€97,122
down €97,122 (-63.9%), from €152,012 to €54,890
- Depreciation -€12,199
down €12,199 (-36.0%), from €33,876 to €21,678
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 | €1,629,342 | €1,667,857 | +€38,515 | +2.4% |
| Fixed assets | 21/28 | €386,716 | €366,688 | -€20,028 | -5.2% |
| Tangible fixed assets | 22/27 | €386,716 | €366,688 | -€20,028 | -5.2% |
| Land and buildings | 22 | €381,568 | €362,406 | -€19,162 | -5.0% |
| Furniture and vehicles | 24 | €5,148 | €4,282 | -€866 | -16.8% |
| Current assets | 29/58 | €1,242,626 | €1,301,169 | +€58,543 | +4.7% |
| Amounts receivable within one year | 40/41 | €115,231 | €117,341 | +€2,110 | +1.8% |
| Trade receivables | 40 | €24,357 | €28,900 | +€4,542 | +18.6% |
| Other amounts receivable | 41 | €90,873 | €88,441 | -€2,432 | -2.7% |
| Current investments | 50/53 | €708,919 | €879,598 | +€170,679 | +24.1% |
| Cash at bank and in hand | 54/58 | €416,213 | €301,240 | -€114,973 | -27.6% |
| Deferred charges and accrued income | 490/1 | €2,264 | €2,991 | +€726 | +32.1% |
| Total equity and liabilities | 10/49 | €1,629,342 | €1,667,857 | +€38,515 | +2.4% |
| Equity | 10/15 | €1,535,214 | €1,656,316 | +€121,102 | +7.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €392,708 | €513,810 | +€121,102 | +30.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €390,848 | €511,950 | +€121,102 | +31.0% |
| Profit (loss) carried forward | 14 | €1,130,106 | €1,130,106 | = | 0.0% |
| Amounts payable | 17/49 | €94,128 | €11,541 | -€82,587 | -87.7% |
| Amounts payable after more than one year | 17 | €1,790 | €1,790 | = | 0.0% |
| Other amounts payable | 178/9 | €1,790 | €1,790 | = | 0.0% |
| Amounts payable within one year | 42/48 | €92,338 | €9,751 | -€82,587 | -89.4% |
| Trade debts | 44 | €434 | €911 | +€478 | +110% |
| Suppliers | 440/4 | €434 | €911 | +€478 | +110% |
| Taxes, remuneration and social security | 45 | €91,905 | €8,840 | -€83,065 | -90.4% |
| Taxes | 450/3 | €91,905 | €8,840 | -€83,065 | -90.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,876 | €21,678 | -€12,199 | -36.0% |
| Other operating charges | 640/8 | €4,327 | €4,807 | +€479 | +11.1% |
| Gross operating margin | 9900 | €293,220 | €195,584 | -€97,636 | -33.3% |
| Operating profit (loss) | 9901 | €255,017 | €169,100 | -€85,917 | -33.7% |
| Financial income | 75/76B | €15,077 | €12,581 | -€2,496 | -16.6% |
| Recurring financial income | 75 | €15,077 | €12,581 | -€2,496 | -16.6% |
| Financial charges | 65/66B | €4,223 | €5,689 | +€1,466 | +34.7% |
| Recurring financial charges | 65 | €4,223 | €5,689 | +€1,466 | +34.7% |
| Profit (loss) for the period before taxes | 9903 | €265,871 | €175,992 | -€89,879 | -33.8% |
| Income taxes | 67/77 | €152,012 | €54,890 | -€97,122 | -63.9% |
| Profit (loss) for the period | 9904 | €113,859 | €121,102 | +€7,243 | +6.4% |
| Profit (loss) for the period to be appropriated | 9905 | €113,859 | €121,102 | +€7,243 | +6.4% |
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 23 October 2026 via checked.be.