ZADEL: 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.
ZADEL
Largest movements
- Tangible fixed assets -€1,500
down €1,500 (-40.9%), from €3,664 to €2,164
- Profit (loss) carried forward -€1,695
down €1,695 (-34.2%), from -€4,962 to -€6,657
- Trade debts +€1,386
up €1,386 (+4.9%), from €28,045 to €29,431
- Tax, wage and social debts -€1,380
no longer reported in 2025 (was €1,380)
- Turnover -€7,387
down €7,387 (-4.2%), from €174,425 to €167,038
- Gross operating margin -€6,341
down €6,341 (-76.7%), from €8,271 to €1,930
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 | €44,463 | €42,774 | -€1,689 | -3.8% |
| Fixed assets | 21/28 | €3,664 | €2,164 | -€1,500 | -40.9% |
| Tangible fixed assets | 22/27 | €3,664 | €2,164 | -€1,500 | -40.9% |
| Furniture and vehicles | 24 | €3,664 | €2,164 | -€1,500 | -40.9% |
| Current assets | 29/58 | €40,799 | €40,610 | -€189 | -0.5% |
| Stocks and contracts in progress | 3 | €35,550 | €35,550 | = | 0.0% |
| Stocks | 30/36 | €35,550 | €35,550 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €5,249 | €5,060 | -€189 | -3.6% |
| Total equity and liabilities | 10/49 | €44,463 | €42,774 | -€1,689 | -3.8% |
| Equity | 10/15 | €15,038 | €13,343 | -€1,695 | -11.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Capital | 10 | €20,000 | €20,000 | = | 0.0% |
| Issued capital | 100 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,962 | -€6,657 | -€1,695 | -34.2% |
| Amounts payable | 17/49 | €29,425 | €29,431 | +€6 | 0.0% |
| Amounts payable within one year | 42/48 | €29,425 | €29,431 | +€6 | 0.0% |
| Trade debts | 44 | €28,045 | €29,431 | +€1,386 | +4.9% |
| Suppliers | 440/4 | €28,045 | €29,431 | +€1,386 | +4.9% |
| Taxes, remuneration and social security | 45 | €1,380 | - | -€1,380 | |
| Taxes | 450/3 | €1,380 | - | -€1,380 | |
| Turnover | 70 | €174,425 | €167,038 | -€7,387 | -4.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €166,154 | €165,108 | -€1,046 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,385 | €1,500 | +€115 | +8.3% |
| Other operating charges | 640/8 | €815 | €463 | -€352 | -43.2% |
| Gross operating margin | 9900 | €8,271 | €1,930 | -€6,341 | -76.7% |
| Operating profit (loss) | 9901 | €6,071 | -€33 | -€6,104 | |
| Profit (loss) for the period before taxes | 9903 | €6,071 | -€33 | -€6,104 | |
| Income taxes | 67/77 | €1,926 | €1,662 | -€264 | -13.7% |
| Profit (loss) for the period | 9904 | €4,144 | -€1,695 | -€5,839 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,144 | -€1,695 | -€5,839 |
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 9 October 2026 via checked.be.