ZADA: 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.
ZADA
Largest movements
- Receivables within one year -€2,781
down €2,781 (-52.5%), from €5,296 to €2,515
of which Trade receivables: -€2,830
- Cash +€2,452
up €2,452 (+94.5%), from €2,596 to €5,047
mainly Receivables within one year (+€2,781) and Accrued charges and deferred income (+€354)
- Tangible fixed assets -€275
down €275 (-34.4%), from €800 to €525
- Trade debts -€839
down €839 (-57.8%), from €1,452 to €613
- Accrued charges and deferred income +€354
new in 2025: €354
- Other debts -€118
down €118 (-2.6%), from €4,590 to €4,472
- Other operating charges -€1,394
down €1,394 (-68.7%), from €2,030 to €636
- Gross operating margin -€655
down €655 (-37.8%), from €1,735 to €1,080
- Depreciation +€250
up €250 (+976.3%), from €26 to €275
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 | €8,792 | €8,187 | -€605 | -6.9% |
| Fixed assets | 21/28 | €900 | €625 | -€275 | -30.6% |
| Tangible fixed assets | 22/27 | €800 | €525 | -€275 | -34.4% |
| Furniture and vehicles | 24 | €800 | €525 | -€275 | -34.4% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €7,892 | €7,562 | -€330 | -4.2% |
| Amounts receivable within one year | 40/41 | €5,296 | €2,515 | -€2,781 | -52.5% |
| Trade receivables | 40 | €5,292 | €2,462 | -€2,830 | -53.5% |
| Other amounts receivable | 41 | €5 | €53 | +€48 | +1006.9% |
| Cash at bank and in hand | 54/58 | €2,596 | €5,047 | +€2,452 | +94.5% |
| Total equity and liabilities | 10/49 | €8,792 | €8,187 | -€605 | -6.9% |
| Equity | 10/15 | €1,418 | €1,488 | +€71 | +5.0% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €1,961 | €1,961 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €102 | €102 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,294 | -€19,223 | +€71 | +0.4% |
| Amounts payable | 17/49 | €7,374 | €6,699 | -€676 | -9.2% |
| Amounts payable within one year | 42/48 | €7,374 | €6,345 | -€1,029 | -14.0% |
| Trade debts | 44 | €1,452 | €613 | -€839 | -57.8% |
| Suppliers | 440/4 | €1,452 | €613 | -€839 | -57.8% |
| Taxes, remuneration and social security | 45 | €1,332 | €1,260 | -€73 | -5.4% |
| Taxes | 450/3 | €1,332 | €1,260 | -€73 | -5.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €4,590 | €4,472 | -€118 | -2.6% |
| Accrued charges and deferred income | 492/3 | - | €354 | +€354 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26 | €275 | +€250 | +976.3% |
| Other operating charges | 640/8 | €2,030 | €636 | -€1,394 | -68.7% |
| Gross operating margin | 9900 | €1,735 | €1,080 | -€655 | -37.8% |
| Operating profit (loss) | 9901 | -€320 | €169 | +€489 | |
| Financial charges | 65/66B | €96 | €98 | +€2 | +2.5% |
| Recurring financial charges | 65 | €96 | €98 | +€2 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | -€416 | €71 | +€487 | |
| Profit (loss) for the period | 9904 | -€416 | €71 | +€487 | |
| Profit (loss) for the period to be appropriated | 9905 | -€416 | €71 | +€487 |
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 29 September 2026 via checked.be.