ZAHA FIN: what changed
ZAHA FIN
Largest movements
- Cash -€32,080
down €32,080 (-38.7%), from €82,842 to €50,762
mainly Net result for the year (-€37,374) and Tax, wage and social debts (-€13,994)
- Receivables within one year -€25,224
down €25,224 (-76.3%), from €33,077 to €7,853
of which Trade receivables: -€29,412
- Receivables after one year +€3,949
up €3,949 (+9.6%), from €41,051 to €45,000
- Profit (loss) carried forward -€37,374
down €37,374 (-98.6%), from €37,892 to €518
- Tax, wage and social debts -€13,994
down €13,994 (-97.5%), from €14,351 to €358
- Trade debts -€1,823
down €1,823 (-59.1%), from €3,084 to €1,261
- Gross operating margin -€65,789
down €65,789, from €28,634 to -€37,155
- Taxes -€9,478
down €9,478 (-98.7%), from €9,608 to €129
- Other operating charges -€497
no longer reported in 2025 (was €497)
- Depreciation -€427
down €427 (-62.4%), from €684 to €257
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €159,482 | €106,489 | -€52,992 | -33.2% |
| Fixed assets | 21/28 | €334 | €76 | -€257 | -77.1% |
| Tangible fixed assets | 22/27 | €334 | €76 | -€257 | -77.1% |
| Furniture and vehicles | 24 | €334 | €76 | -€257 | -77.1% |
| Current assets | 29/58 | €159,148 | €106,413 | -€52,735 | -33.1% |
| Amounts receivable after more than one year | 29 | €41,051 | €45,000 | +€3,949 | +9.6% |
| Other amounts receivable | 291 | €41,051 | €45,000 | +€3,949 | +9.6% |
| Amounts receivable within one year | 40/41 | €33,077 | €7,853 | -€25,224 | -76.3% |
| Trade receivables | 40 | €33,072 | €3,660 | -€29,412 | -88.9% |
| Other amounts receivable | 41 | €4 | €4,192 | +€4,188 | +97,392% |
| Cash at bank and in hand | 54/58 | €82,842 | €50,762 | -€32,080 | -38.7% |
| Deferred charges and accrued income | 490/1 | €2,179 | €2,798 | +€620 | +28.4% |
| Total equity and liabilities | 10/49 | €159,482 | €106,489 | -€52,992 | -33.2% |
| Equity | 10/15 | €142,046 | €104,672 | -€37,374 | -26.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €85,554 | €85,554 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,554 | €1,554 | = | 0.0% |
| Legal reserve | 130 | €1,554 | €1,554 | = | 0.0% |
| Distributable reserves | 133 | €84,000 | €84,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,892 | €518 | -€37,374 | -98.6% |
| Amounts payable | 17/49 | €17,435 | €1,817 | -€15,618 | -89.6% |
| Amounts payable within one year | 42/48 | €17,435 | €1,817 | -€15,618 | -89.6% |
| Trade debts | 44 | €3,084 | €1,261 | -€1,823 | -59.1% |
| Suppliers | 440/4 | €3,084 | €1,261 | -€1,823 | -59.1% |
| Taxes, remuneration and social security | 45 | €14,351 | €358 | -€13,994 | -97.5% |
| Taxes | 450/3 | €14,351 | €358 | -€13,994 | -97.5% |
| Other amounts payable | 47/48 | - | €198 | +€198 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €684 | €257 | -€427 | -62.4% |
| Other operating charges | 640/8 | €497 | - | -€497 | |
| Gross operating margin | 9900 | €28,634 | -€37,155 | -€65,789 | |
| Operating profit (loss) | 9901 | €27,453 | -€37,412 | -€64,865 | |
| Financial income | 75/76B | €551 | €620 | +€68 | +12.4% |
| Recurring financial income | 75 | €551 | €620 | +€68 | +12.4% |
| Financial charges | 65/66B | €328 | €452 | +€125 | +38.0% |
| Recurring financial charges | 65 | €328 | €452 | +€125 | +38.0% |
| Profit (loss) for the period before taxes | 9903 | €27,677 | -€37,245 | -€64,921 | |
| Income taxes | 67/77 | €9,608 | €129 | -€9,478 | -98.7% |
| Profit (loss) for the period | 9904 | €18,069 | -€37,374 | -€55,443 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,069 | -€37,374 | -€55,443 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.