ZAMAN: 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.
ZAMAN
Largest movements
- Receivables within one year +€27,287
up €27,287 (+20.9%), from €130,430 to €157,717
of which Other amounts receivable: +€22,982
- Tangible fixed assets -€26,921
down €26,921 (-21.1%), from €127,859 to €100,937
of which Furniture and vehicles: -€22,739
- Receivables after one year -€8,431
down €8,431 (-100%), from €8,431 to €0
- Cash +€3,437
up €3,437 (+41.0%), from €8,383 to €11,820
mainly Depreciation (+€29,168) and Other debts (+€19,352)
- Reserves -€19,583
down €19,583 (-18.4%), from €106,553 to €86,970
of which Distributable reserves: -€19,583
- Other debts +€19,352
up €19,352 (+2,323%), from €833 to €20,185
- Debts after one year -€16,147
down €16,147 (-24.7%), from €65,297 to €49,149
- Tax, wage and social debts +€7,815
up €7,815 (+105%), from €7,419 to €15,234
- Trade debts +€3,584
up €3,584 (+4.8%), from €75,068 to €78,652
- Depreciation +€21,288
up €21,288 (+270%), from €7,881 to €29,168
- Taxes -€7,524
down €7,524 (-85.1%), from €8,845 to €1,321
- Gross operating margin -€4,042
down €4,042 (-11.2%), from €36,232 to €32,191
- Financial charges +€2,000
up €2,000 (+94.9%), from €2,108 to €4,108
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 | €277,005 | €272,778 | -€4,227 | -1.5% |
| Fixed assets | 21/28 | €128,109 | €101,187 | -€26,921 | -21.0% |
| Tangible fixed assets | 22/27 | €127,859 | €100,937 | -€26,921 | -21.1% |
| Plant, machinery and equipment | 23 | €11,504 | €6,263 | -€5,241 | -45.6% |
| Furniture and vehicles | 24 | €109,153 | €86,414 | -€22,739 | -20.8% |
| Other tangible fixed assets | 26 | €7,201 | €8,260 | +€1,059 | +14.7% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €148,896 | €171,591 | +€22,694 | +15.2% |
| Amounts receivable after more than one year | 29 | €8,431 | €0 | -€8,431 | -100% |
| Other amounts receivable | 291 | €8,431 | €0 | -€8,431 | -100% |
| Amounts receivable within one year | 40/41 | €130,430 | €157,717 | +€27,287 | +20.9% |
| Trade receivables | 40 | €67,914 | €72,219 | +€4,305 | +6.3% |
| Other amounts receivable | 41 | €62,517 | €85,498 | +€22,982 | +36.8% |
| Cash at bank and in hand | 54/58 | €8,383 | €11,820 | +€3,437 | +41.0% |
| Deferred charges and accrued income | 490/1 | €1,652 | €2,053 | +€401 | +24.3% |
| Total equity and liabilities | 10/49 | €277,005 | €272,778 | -€4,227 | -1.5% |
| Equity | 10/15 | €112,753 | €93,170 | -€19,583 | -17.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €106,553 | €86,970 | -€19,583 | -18.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €104,693 | €85,110 | -€19,583 | -18.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €164,252 | €179,608 | +€15,356 | +9.3% |
| Amounts payable after more than one year | 17 | €65,297 | €49,149 | -€16,147 | -24.7% |
| Financial debts | 170/4 | €65,297 | €49,149 | -€16,147 | -24.7% |
| Amounts payable within one year | 42/48 | €98,955 | €130,219 | +€31,264 | +31.6% |
| Current portion of amounts payable after more than one year | 42 | €15,636 | €16,147 | +€512 | +3.3% |
| Trade debts | 44 | €75,068 | €78,652 | +€3,584 | +4.8% |
| Suppliers | 440/4 | €75,068 | €78,652 | +€3,584 | +4.8% |
| Taxes, remuneration and social security | 45 | €7,419 | €15,234 | +€7,815 | +105% |
| Taxes | 450/3 | €7,419 | €15,234 | +€7,815 | +105% |
| Other amounts payable | 47/48 | €833 | €20,185 | +€19,352 | +2,323% |
| Accrued charges and deferred income | 492/3 | - | €240 | +€240 | |
| Non-recurring operating income | 76A | €6,601 | €0 | -€6,601 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,881 | €29,168 | +€21,288 | +270% |
| Other operating charges | 640/8 | €1,223 | €1,122 | -€101 | -8.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €36,232 | €32,191 | -€4,042 | -11.2% |
| Operating profit (loss) | 9901 | €27,129 | €1,900 | -€25,229 | -93.0% |
| Financial income | 75/76B | €4,181 | €4,131 | -€50 | -1.2% |
| Recurring financial income | 75 | €4,181 | €4,131 | -€50 | -1.2% |
| Financial charges | 65/66B | €2,108 | €4,108 | +€2,000 | +94.9% |
| Recurring financial charges | 65 | €2,108 | €4,108 | +€2,000 | +94.9% |
| Profit (loss) for the period before taxes | 9903 | €29,202 | €1,924 | -€27,279 | -93.4% |
| Income taxes | 67/77 | €8,845 | €1,321 | -€7,524 | -85.1% |
| Profit (loss) for the period | 9904 | €20,357 | €602 | -€19,755 | -97.0% |
| Profit (loss) for the period to be appropriated | 9905 | €20,357 | €602 | -€19,755 | -97.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.