ZAEM TEX: 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.
ZAEM TEX
Largest movements
- Receivables within one year +€49,072
up €49,072 (+172%), from €28,494 to €77,565
of which Trade receivables: +€44,467
- Other debts +€39,478
up €39,478 (+273%), from €14,480 to €53,958
- Trade debts +€23,255
up €23,255 (+49.7%), from €46,816 to €70,071
- Advances received -€11,771
down €11,771 (-21.2%), from €55,620 to €43,849
- Tax, wage and social debts -€8,861
down €8,861 (-74.4%), from €11,904 to €3,043
of which Remuneration and social security: -€9,000
- Profit (loss) carried forward +€6,339
up €6,339 (+12.9%), from -€49,151 to -€42,811
- Other operating charges -€18,470
down €18,470 (-80.1%), from €23,058 to €4,588
- Financial income +€6,685
new in 2025: €6,685
of which Non-recurring financial income: +€5,719
- Gross operating margin +€4,100
up €4,100 (+39.4%), from €10,420 to €14,521
- Taxes -€2,904
no longer reported in 2025 (was €2,904)
- Financial charges -€1,672
down €1,672 (-15.8%), from €10,600 to €8,928
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 | €94,669 | €143,109 | +€48,440 | +51.2% |
| Fixed assets | 21/28 | €2,658 | €1,308 | -€1,350 | -50.8% |
| Tangible fixed assets | 22/27 | €2,658 | €1,308 | -€1,350 | -50.8% |
| Plant, machinery and equipment | 23 | €100 | - | -€100 | |
| Furniture and vehicles | 24 | €2,558 | €1,308 | -€1,250 | -48.9% |
| Current assets | 29/58 | €92,011 | €141,801 | +€49,789 | +54.1% |
| Stocks and contracts in progress | 3 | €53,317 | €54,472 | +€1,155 | +2.2% |
| Stocks | 30/36 | €53,317 | €54,472 | +€1,155 | +2.2% |
| Amounts receivable within one year | 40/41 | €28,494 | €77,565 | +€49,072 | +172% |
| Trade receivables | 40 | €21,323 | €65,790 | +€44,467 | +209% |
| Other amounts receivable | 41 | €7,171 | €11,775 | +€4,604 | +64.2% |
| Cash at bank and in hand | 54/58 | €3,021 | €2,584 | -€437 | -14.5% |
| Deferred charges and accrued income | 490/1 | €7,179 | €7,179 | +€0 | 0.0% |
| Total equity and liabilities | 10/49 | €94,669 | €143,109 | +€48,440 | +51.2% |
| Equity | 10/15 | -€34,151 | -€27,811 | +€6,339 | +18.6% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€49,151 | -€42,811 | +€6,339 | +12.9% |
| Amounts payable | 17/49 | €128,820 | €170,920 | +€42,100 | +32.7% |
| Amounts payable within one year | 42/48 | €128,820 | €170,920 | +€42,100 | +32.7% |
| Trade debts | 44 | €46,816 | €70,071 | +€23,255 | +49.7% |
| Suppliers | 440/4 | €46,816 | €70,071 | +€23,255 | +49.7% |
| Advances received on contracts in progress | 46 | €55,620 | €43,849 | -€11,771 | -21.2% |
| Taxes, remuneration and social security | 45 | €11,904 | €3,043 | -€8,861 | -74.4% |
| Taxes | 450/3 | €2,904 | €3,043 | +€139 | +4.8% |
| Remuneration and social security | 454/9 | €9,000 | - | -€9,000 | |
| Other amounts payable | 47/48 | €14,480 | €53,958 | +€39,478 | +273% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,993 | €1,350 | -€644 | -32.3% |
| Other operating charges | 640/8 | €23,058 | €4,588 | -€18,470 | -80.1% |
| Gross operating margin | 9900 | €10,420 | €14,521 | +€4,100 | +39.4% |
| Operating profit (loss) | 9901 | -€14,631 | €8,583 | +€23,214 | |
| Financial income | 75/76B | - | €6,685 | +€6,685 | |
| Recurring financial income | 75 | - | €966 | +€966 | |
| Non-recurring financial income | 76B | - | €5,719 | +€5,719 | |
| Financial charges | 65/66B | €10,600 | €8,928 | -€1,672 | -15.8% |
| Recurring financial charges | 65 | €10,600 | €8,928 | -€1,672 | -15.8% |
| Profit (loss) for the period before taxes | 9903 | -€25,231 | €6,339 | +€31,571 | |
| Income taxes | 67/77 | €2,904 | - | -€2,904 | |
| Profit (loss) for the period | 9904 | -€28,135 | €6,339 | +€34,474 | |
| Profit (loss) for the period to be appropriated | 9905 | -€28,135 | €6,339 | +€34,474 |
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 21 October 2026 via checked.be.