ZAKHO: 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.
ZAKHO
Largest movements
- Receivables within one year -€7,850
down €7,850 (-75.8%), from €10,355 to €2,505
of which Trade receivables: -€6,586
- Intangible fixed assets -€930
down €930 (-27.0%), from €3,445 to €2,515
- Cash -€508
down €508 (-51.1%), from €995 to €487
mainly Tax, wage and social debts (-€13,979) and Trade debts (-€6,131)
- Tax, wage and social debts -€13,979
down €13,979 (-80.2%), from €17,428 to €3,449
of which Remuneration and social security: -€11,801
- Profit (loss) carried forward +€13,182
up €13,182 (+56.5%), from -€23,343 to -€10,161
- Trade debts -€6,131
down €6,131 (-53.8%), from €11,389 to €5,258
- Other debts -€2,430
down €2,430 (-36.9%), from €6,580 to €4,150
- Staff costs -€26,141
down €26,141 (-77.3%), from €33,826 to €7,685
- Gross operating margin +€10,708
up €10,708 (+91.9%), from €11,653 to €22,361
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 | €15,054 | €5,696 | -€9,358 | -62.2% |
| Fixed assets | 21/28 | €3,704 | €2,704 | -€1,000 | -27.0% |
| Intangible fixed assets | 21 | €3,445 | €2,515 | -€930 | -27.0% |
| Tangible fixed assets | 22/27 | €259 | €189 | -€70 | -27.0% |
| Plant, machinery and equipment | 23 | €259 | €189 | -€70 | -27.0% |
| Current assets | 29/58 | €11,350 | €2,992 | -€8,358 | -73.6% |
| Amounts receivable within one year | 40/41 | €10,355 | €2,505 | -€7,850 | -75.8% |
| Trade receivables | 40 | €7,743 | €1,157 | -€6,586 | -85.1% |
| Other amounts receivable | 41 | €2,612 | €1,348 | -€1,264 | -48.4% |
| Cash at bank and in hand | 54/58 | €995 | €487 | -€508 | -51.1% |
| Total equity and liabilities | 10/49 | €15,054 | €5,696 | -€9,358 | -62.2% |
| Equity | 10/15 | -€20,343 | -€7,161 | +€13,182 | +64.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,343 | -€10,161 | +€13,182 | +56.5% |
| Amounts payable | 17/49 | €35,397 | €12,857 | -€22,540 | -63.7% |
| Amounts payable within one year | 42/48 | €35,397 | €12,857 | -€22,540 | -63.7% |
| Trade debts | 44 | €11,389 | €5,258 | -€6,131 | -53.8% |
| Suppliers | 440/4 | €11,389 | €5,258 | -€6,131 | -53.8% |
| Taxes, remuneration and social security | 45 | €17,428 | €3,449 | -€13,979 | -80.2% |
| Taxes | 450/3 | €4,121 | €1,943 | -€2,178 | -52.9% |
| Remuneration and social security | 454/9 | €13,307 | €1,506 | -€11,801 | -88.7% |
| Other amounts payable | 47/48 | €6,580 | €4,150 | -€2,430 | -36.9% |
| Remuneration, social security and pensions | 62 | €33,826 | €7,685 | -€26,141 | -77.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,000 | €1,000 | = | 0.0% |
| Other operating charges | 640/8 | €237 | €282 | +€45 | +19.0% |
| Gross operating margin | 9900 | €11,653 | €22,361 | +€10,708 | +91.9% |
| Operating profit (loss) | 9901 | -€23,410 | €13,394 | +€36,804 | |
| Financial income | 75/76B | €114 | - | -€114 | |
| Recurring financial income | 75 | €114 | - | -€114 | |
| Financial charges | 65/66B | €161 | €212 | +€51 | +31.7% |
| Recurring financial charges | 65 | €161 | €212 | +€51 | +31.7% |
| Profit (loss) for the period before taxes | 9903 | -€23,457 | €13,182 | +€36,639 | |
| Profit (loss) for the period | 9904 | -€23,457 | €13,182 | +€36,639 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,457 | €13,182 | +€36,639 |
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 5 October 2026 via checked.be.