ZAG TELECOM: 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.
ZAG TELECOM
Largest movements
- Receivables within one year -€7,118
down €7,118 (-22.6%), from €31,531 to €24,414
of which Other amounts receivable: -€4,647
- Cash -€3,305
down €3,305 (-24.7%), from €13,399 to €10,095
mainly Net result for the year (-€22,944) and Trade debts (-€13,568)
- Tangible fixed assets -€3,041
down €3,041 (-30.8%), from €9,864 to €6,823
of which Plant, machinery and equipment: -€2,958
- Profit (loss) carried forward -€22,944
down €22,944, from €1,415 to -€21,529
- Other debts +€17,723
new in 2023: €17,723
- Trade debts -€13,568
down €13,568 (-31.6%), from €42,890 to €29,322
- Tax, wage and social debts +€5,433
up €5,433 (+95.9%), from €5,668 to €11,101
of which Remuneration and social security: +€3,856
- Gross operating margin -€16,373
down €16,373, from €3,781 to -€12,592
- Staff costs +€6,658
new in 2023: €6,658
- Depreciation -€417
down €417 (-12.0%), from €3,458 to €3,041
- Financial charges +€319
up €319 (+708.7%), from €45 to €364
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €68,634 | €55,277 | -€13,356 | -19.5% |
| Fixed assets | 21/28 | €9,864 | €6,823 | -€3,041 | -30.8% |
| Tangible fixed assets | 22/27 | €9,864 | €6,823 | -€3,041 | -30.8% |
| Plant, machinery and equipment | 23 | €9,781 | €6,823 | -€2,958 | -30.2% |
| Furniture and vehicles | 24 | €83 | - | -€83 | |
| Current assets | 29/58 | €58,769 | €48,454 | -€10,315 | -17.6% |
| Stocks and contracts in progress | 3 | €13,838 | €13,945 | +€107 | +0.8% |
| Stocks | 30/36 | €13,838 | €13,945 | +€107 | +0.8% |
| Amounts receivable within one year | 40/41 | €31,531 | €24,414 | -€7,118 | -22.6% |
| Trade receivables | 40 | €26,145 | €23,674 | -€2,471 | -9.5% |
| Other amounts receivable | 41 | €5,386 | €739 | -€4,647 | -86.3% |
| Current investments | 50/53 | €1 | €1 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €13,399 | €10,095 | -€3,305 | -24.7% |
| Total equity and liabilities | 10/49 | €68,634 | €55,277 | -€13,356 | -19.5% |
| Equity | 10/15 | €20,075 | -€2,869 | -€22,944 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €60 | €60 | = | 0.0% |
| Non-distributable reserves | 130/1 | €60 | €60 | = | 0.0% |
| Reserves not available under the articles | 1311 | €60 | €60 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,415 | -€21,529 | -€22,944 | |
| Amounts payable | 17/49 | €48,558 | €58,146 | +€9,588 | +19.7% |
| Amounts payable within one year | 42/48 | €48,558 | €58,146 | +€9,588 | +19.7% |
| Trade debts | 44 | €42,890 | €29,322 | -€13,568 | -31.6% |
| Suppliers | 440/4 | €42,890 | €29,322 | -€13,568 | -31.6% |
| Taxes, remuneration and social security | 45 | €5,668 | €11,101 | +€5,433 | +95.9% |
| Taxes | 450/3 | €5,604 | €7,181 | +€1,576 | +28.1% |
| Remuneration and social security | 454/9 | €64 | €3,920 | +€3,856 | +6038.0% |
| Other amounts payable | 47/48 | - | €17,723 | +€17,723 | |
| Remuneration, social security and pensions | 62 | - | €6,658 | +€6,658 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,458 | €3,041 | -€417 | -12.0% |
| Other operating charges | 640/8 | €347 | €289 | -€58 | -16.6% |
| Gross operating margin | 9900 | €3,781 | -€12,592 | -€16,373 | |
| Operating profit (loss) | 9901 | -€23 | -€22,580 | -€22,557 | -96478.9% |
| Financial charges | 65/66B | €45 | €364 | +€319 | +708.7% |
| Recurring financial charges | 65 | €45 | €364 | +€319 | +708.7% |
| Profit (loss) for the period before taxes | 9903 | -€68 | -€22,944 | -€22,876 | -33453.8% |
| Profit (loss) for the period | 9904 | -€68 | -€22,944 | -€22,876 | -33453.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€68 | -€22,944 | -€22,876 | -33453.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.