ZAM CORP: 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.
ZAM CORP
Largest movements
- Tangible fixed assets -€19,778
down €19,778 (-14.6%), from €135,455 to €115,677
- Receivables within one year +€12,330
up €12,330 (+11.3%), from €109,015 to €121,345
of which Trade receivables: +€6,832
- Intangible fixed assets -€7,500
down €7,500 (-25.0%), from €30,000 to €22,500
- Cash -€4,716
down €4,716 (-26.9%), from €17,536 to €12,819
mainly Debts after one year (-€24,862) and Net result for the year (-€19,129)
- Other debts +€36,408
up €36,408 (+140%), from €26,012 to €62,420
- Debts after one year -€24,862
down €24,862 (-16.8%), from €148,300 to €123,438
- Profit (loss) carried forward -€19,129
down €19,129, from €8,743 to -€10,387
- Tax, wage and social debts -€11,803
down €11,803 (-27.9%), from €42,232 to €30,429
of which Remuneration and social security: -€8,713
- Gross operating margin -€29,288
down €29,288 (-25.2%), from €116,005 to €86,717
- Staff costs -€25,114
down €25,114 (-31.6%), from €79,581 to €54,468
- Other operating charges -€3,936
down €3,936 (-43.2%), from €9,118 to €5,181
- Financial charges -€3,246
down €3,246 (-28.3%), from €11,488 to €8,242
- Depreciation +€2,456
up €2,456 (+6.7%), from €36,432 to €38,888
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 | €464,054 | €445,120 | -€18,935 | -4.1% |
| Fixed assets | 21/28 | €336,204 | €308,926 | -€27,278 | -8.1% |
| Intangible fixed assets | 21 | €30,000 | €22,500 | -€7,500 | -25.0% |
| Tangible fixed assets | 22/27 | €135,455 | €115,677 | -€19,778 | -14.6% |
| Plant, machinery and equipment | 23 | €33,552 | €25,436 | -€8,116 | -24.2% |
| Furniture and vehicles | 24 | €8,693 | €3,408 | -€5,285 | -60.8% |
| Other tangible fixed assets | 26 | €93,210 | €86,833 | -€6,377 | -6.8% |
| Financial fixed assets | 28 | €170,749 | €170,749 | = | 0.0% |
| Current assets | 29/58 | €127,851 | €136,194 | +€8,343 | +6.5% |
| Amounts receivable within one year | 40/41 | €109,015 | €121,345 | +€12,330 | +11.3% |
| Trade receivables | 40 | €99,213 | €106,045 | +€6,832 | +6.9% |
| Other amounts receivable | 41 | €9,802 | €15,300 | +€5,498 | +56.1% |
| Cash at bank and in hand | 54/58 | €17,536 | €12,819 | -€4,716 | -26.9% |
| Deferred charges and accrued income | 490/1 | €1,300 | €2,030 | +€730 | +56.1% |
| Total equity and liabilities | 10/49 | €464,054 | €445,120 | -€18,935 | -4.1% |
| Equity | 10/15 | €117,943 | €98,813 | -€19,129 | -16.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €90,600 | €90,600 | = | 0.0% |
| Non-distributable reserves | 130/1 | €600 | €600 | = | 0.0% |
| Reserves not available under the articles | 1311 | €600 | €600 | = | 0.0% |
| Distributable reserves | 133 | €90,000 | €90,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,743 | -€10,387 | -€19,129 | |
| Amounts payable | 17/49 | €346,112 | €346,306 | +€194 | +0.1% |
| Amounts payable after more than one year | 17 | €148,300 | €123,438 | -€24,862 | -16.8% |
| Financial debts | 170/4 | €148,300 | €123,438 | -€24,862 | -16.8% |
| Amounts payable within one year | 42/48 | €195,327 | €220,440 | +€25,114 | +12.9% |
| Current portion of amounts payable after more than one year | 42 | €28,464 | €26,046 | -€2,418 | -8.5% |
| Trade debts | 44 | €98,618 | €101,545 | +€2,927 | +3.0% |
| Suppliers | 440/4 | €98,618 | €101,545 | +€2,927 | +3.0% |
| Taxes, remuneration and social security | 45 | €42,232 | €30,429 | -€11,803 | -27.9% |
| Taxes | 450/3 | €25,160 | €22,070 | -€3,090 | -12.3% |
| Remuneration and social security | 454/9 | €17,072 | €8,359 | -€8,713 | -51.0% |
| Other amounts payable | 47/48 | €26,012 | €62,420 | +€36,408 | +140% |
| Accrued charges and deferred income | 492/3 | €2,485 | €2,428 | -€57 | -2.3% |
| Remuneration, social security and pensions | 62 | €79,581 | €54,468 | -€25,114 | -31.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,432 | €38,888 | +€2,456 | +6.7% |
| Other operating charges | 640/8 | €9,118 | €5,181 | -€3,936 | -43.2% |
| Gross operating margin | 9900 | €116,005 | €86,717 | -€29,288 | -25.2% |
| Operating profit (loss) | 9901 | -€9,127 | -€11,820 | -€2,694 | -29.5% |
| Financial income | 75/76B | €506 | €506 | = | 0.0% |
| Recurring financial income | 75 | €506 | €506 | = | 0.0% |
| Financial charges | 65/66B | €11,488 | €8,242 | -€3,246 | -28.3% |
| Recurring financial charges | 65 | €11,488 | €8,242 | -€3,246 | -28.3% |
| Profit (loss) for the period before taxes | 9903 | -€20,109 | -€19,557 | +€552 | +2.7% |
| Income taxes | 67/77 | - | -€428 | -€428 | |
| Profit (loss) for the period | 9904 | -€20,109 | -€19,129 | +€980 | +4.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,109 | -€19,129 | +€980 | +4.9% |
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 26 October 2026 via checked.be.