ZalCon: 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.
ZalCon
Largest movements
- Receivables within one year -€25,019
down €25,019 (-67.3%), from €37,168 to €12,150
of which Trade receivables: -€15,870
- Cash -€24,224
down €24,224 (-47.0%), from €51,527 to €27,303
mainly Receivables after one year (-€22,268) and Trade debts (-€15,596)
- Receivables after one year +€22,268
new in 2025: €22,268
- Tangible fixed assets -€1,241
down €1,241 (-35.2%), from €3,529 to €2,288
- Contributions +€26,400
up €26,400 (+400.0%), from €6,600 to €33,000
- Reserves -€26,000
down €26,000 (-38.0%), from €68,403 to €42,403
- Trade debts -€15,596
down €15,596 (-93.8%), from €16,621 to €1,026
- Profit (loss) carried forward -€7,046
down €7,046 (-30.2%), from -€23,317 to -€30,363
- Tax, wage and social debts -€6,037
down €6,037 (-24.6%), from €24,512 to €18,476
- Gross operating margin -€64,393
down €64,393, from €61,592 to -€2,801
- Taxes -€16,339
down €16,339 (-99.1%), from €16,487 to €148
- Depreciation +€1,047
up €1,047 (+539.4%), from €194 to €1,241
- Other operating charges -€861
down €861 (-87.2%), from €987 to €126
- Financial charges +€701
up €701 (+32.0%), from €2,193 to €2,894
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 | €92,819 | €64,541 | -€28,278 | -30.5% |
| Fixed assets | 21/28 | €3,529 | €2,288 | -€1,241 | -35.2% |
| Tangible fixed assets | 22/27 | €3,529 | €2,288 | -€1,241 | -35.2% |
| Furniture and vehicles | 24 | €3,529 | €2,288 | -€1,241 | -35.2% |
| Current assets | 29/58 | €89,290 | €62,253 | -€27,037 | -30.3% |
| Amounts receivable after more than one year | 29 | - | €22,268 | +€22,268 | |
| Trade receivables | 290 | - | €22,268 | +€22,268 | |
| Amounts receivable within one year | 40/41 | €37,168 | €12,150 | -€25,019 | -67.3% |
| Trade receivables | 40 | €26,604 | €10,734 | -€15,870 | -59.7% |
| Other amounts receivable | 41 | €10,565 | €1,416 | -€9,149 | -86.6% |
| Cash at bank and in hand | 54/58 | €51,527 | €27,303 | -€24,224 | -47.0% |
| Deferred charges and accrued income | 490/1 | €594 | €532 | -€62 | -10.5% |
| Total equity and liabilities | 10/49 | €92,819 | €64,541 | -€28,278 | -30.5% |
| Equity | 10/15 | €51,686 | €45,039 | -€6,646 | -12.9% |
| Contributions | 10/11 | €6,600 | €33,000 | +€26,400 | +400.0% |
| Reserves | 13 | €68,403 | €42,403 | -€26,000 | -38.0% |
| Distributable reserves | 133 | €68,403 | €42,403 | -€26,000 | -38.0% |
| Profit (loss) carried forward | 14 | -€23,317 | -€30,363 | -€7,046 | -30.2% |
| Amounts payable | 17/49 | €41,134 | €19,502 | -€21,632 | -52.6% |
| Amounts payable within one year | 42/48 | €41,134 | €19,502 | -€21,632 | -52.6% |
| Trade debts | 44 | €16,621 | €1,026 | -€15,596 | -93.8% |
| Suppliers | 440/4 | €16,621 | €1,026 | -€15,596 | -93.8% |
| Taxes, remuneration and social security | 45 | €24,512 | €18,476 | -€6,037 | -24.6% |
| Taxes | 450/3 | €24,512 | €18,476 | -€6,037 | -24.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €194 | €1,241 | +€1,047 | +539.4% |
| Other operating charges | 640/8 | €987 | €126 | -€861 | -87.2% |
| Gross operating margin | 9900 | €61,592 | -€2,801 | -€64,393 | |
| Operating profit (loss) | 9901 | €60,411 | -€4,168 | -€64,579 | |
| Financial income | 75/76B | €671 | €164 | -€507 | -75.6% |
| Recurring financial income | 75 | €671 | €164 | -€507 | -75.6% |
| Financial charges | 65/66B | €2,193 | €2,894 | +€701 | +32.0% |
| Recurring financial charges | 65 | €2,193 | €2,894 | +€701 | +32.0% |
| Profit (loss) for the period before taxes | 9903 | €58,889 | -€6,898 | -€65,787 | |
| Income taxes | 67/77 | €16,487 | €148 | -€16,339 | -99.1% |
| Profit (loss) for the period | 9904 | €42,403 | -€7,046 | -€49,449 | |
| Profit (loss) for the period to be appropriated | 9905 | €42,403 | -€7,046 | -€49,449 |
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 11 October 2026 via checked.be.