ZAMMA: 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.
ZAMMA
Largest movements
- Cash +€455,441
up €455,441 (+908.1%), from €50,152 to €505,592
mainly Stocks and contracts (+€254,593) and Net result for the year (+€184,942)
- Stocks and contracts -€254,593
down €254,593 (-24.1%), from €1.1m to €800,546
- Trade debts -€182,319
down €182,319 (-99.8%), from €182,685 to €366
- Reserves +€169,802
new in 2025: €169,802
- Tax, wage and social debts +€112,080
new in 2025: €112,080
- Debts after one year +€100,000
up €100,000 (+11.1%), from €900,000 to €1.0m
- Profit (loss) carried forward +€15,140
up €15,140, from -€15,140 to €0
- Gross operating margin +€292,341
up €292,341 (+398.4%), from €73,378 to €365,719
- Taxes +€61,784
new in 2025: €61,784
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 | €1,111,130 | €1,322,411 | +€211,280 | +19.0% |
| Current assets | 29/58 | €1,111,130 | €1,322,411 | +€211,280 | +19.0% |
| Stocks and contracts in progress | 3 | €1,055,138 | €800,546 | -€254,593 | -24.1% |
| Contracts in progress | 37 | €1,055,138 | €800,546 | -€254,593 | -24.1% |
| Amounts receivable within one year | 40/41 | €5,494 | €15,730 | +€10,236 | +186.3% |
| Trade receivables | 40 | - | €15,730 | +€15,730 | |
| Other amounts receivable | 41 | €5,494 | €0 | -€5,494 | -100.0% |
| Cash at bank and in hand | 54/58 | €50,152 | €505,592 | +€455,441 | +908.1% |
| Deferred charges and accrued income | 490/1 | €347 | €542 | +€196 | +56.5% |
| Total equity and liabilities | 10/49 | €1,111,130 | €1,322,411 | +€211,280 | +19.0% |
| Equity | 10/15 | €24,860 | €209,802 | +€184,942 | +743.9% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | - | €169,802 | +€169,802 | |
| Distributable reserves | 133 | - | €169,802 | +€169,802 | |
| Profit (loss) carried forward | 14 | -€15,140 | €0 | +€15,140 | |
| Amounts payable | 17/49 | €1,086,271 | €1,112,609 | +€26,338 | +2.4% |
| Amounts payable after more than one year | 17 | €900,000 | €1,000,000 | +€100,000 | +11.1% |
| Financial debts | 170/4 | €900,000 | €1,000,000 | +€100,000 | +11.1% |
| Amounts payable within one year | 42/48 | €182,685 | €112,446 | -€70,239 | -38.4% |
| Trade debts | 44 | €182,685 | €366 | -€182,319 | -99.8% |
| Suppliers | 440/4 | €182,685 | €366 | -€182,319 | -99.8% |
| Taxes, remuneration and social security | 45 | - | €112,080 | +€112,080 | |
| Taxes | 450/3 | - | €112,080 | +€112,080 | |
| Accrued charges and deferred income | 492/3 | €3,586 | €163 | -€3,423 | -95.5% |
| Non-recurring operating income | 76A | - | €13,000 | +€13,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Non-recurring operating charges | 66A | €58,356 | €119,027 | +€60,671 | +104.0% |
| Gross operating margin | 9900 | €73,378 | €365,719 | +€292,341 | +398.4% |
| Operating profit (loss) | 9901 | €14,517 | €246,172 | +€231,655 | +1595.7% |
| Financial income | 75/76B | €199 | €1,014 | +€815 | +409.0% |
| Recurring financial income | 75 | €199 | €1,014 | +€815 | +409.0% |
| Financial charges | 65/66B | €370 | €460 | +€90 | +24.4% |
| Recurring financial charges | 65 | €370 | €460 | +€90 | +24.4% |
| Profit (loss) for the period before taxes | 9903 | €14,346 | €246,726 | +€232,380 | +1619.8% |
| Income taxes | 67/77 | - | €61,784 | +€61,784 | |
| Profit (loss) for the period | 9904 | €14,346 | €184,942 | +€170,596 | +1189.1% |
| Profit (loss) for the period to be appropriated | 9905 | €14,346 | €184,942 | +€170,596 | +1189.1% |
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 10 October 2026 via checked.be.